§ 29-118. Trust fund created; uses of surtax proceeds and other moneys.

Miami-Dade County shall be the depository of the surtax proceeds collected by the State and distributed to Miami-Dade County hereunder. The Board of County Commissioners shall deposit the proceeds from the surtax, the proceeds from MDTA revenues and the proceeds from the three (3) cents capital improvements local option gas tax dedicated to transit purposes in a special trust fund ("Fund A") set aside from other County funds in the custody of the Finance Director of the County. The Board of County Commissioners shall deposit the proceeds from the annual budgeted amount from the general fund for MDTA referred to in Section 5 of the ordinance from which this section derives in a special trust fund ("Fund B") set aside from other County funds in the custody of the Finance Director. Interest earnings on the investment of the moneys on deposit in Fund A and Fund B shall be credited thereto as the Finance Director shall deem appropriate. Exhibit 1 attached to the ordinance from which this section derives sets forth the Revenues consisting of Sales Tax, General Fund Subsidy/LOGT and MDTA Revenues and a component of Interest attributable to the investment of such Revenues and forecasts the breakdown of the sources of revenues which make up Revenues. Moneys in Fund A shall be expended solely for transportation purposes as provided in Subsections (a), (c) and (d) of this Section 29-118. Moneys in Fund B shall be expended solely for the purposes set forth in Subsections (b), (c) and (e) of this Section 29-118; provided, however, that if at any time during a fiscal year the Board of County Commissioners determines that the moneys on deposit in Fund A is not or will not be sufficient to meet the expenditure requirements of Fund A for such fiscal year, the Board may direct the Finance Director to transfer all or any portion of the moneys on deposit in Fund B to the credit of Fund A to make up such insufficiency. At the end of each County fiscal year commencing with the fiscal year ending September 30, 2000 all or any portion of the unencumbered balance in Fund B remaining after meeting the expenditure requirements for such fiscal year on account of Subsections (b), (c) and (e) of this Section 29-118 either shall remain in Fund B or shall be transferred by the Finance Director to the credit of Fund A or to the credit of the general fund at the direction of the Board of County Commissioners. The Finance Director for the purposes of this article shall establish five special accounts designated, respectively, the "MDX Account," the "Stakeholders Account," the "Municipalities Account," the "County Transportation Account," and the "County "Non-Transportation Account."

(a)

The Finance Director shall transfer from Fund A to the MDX Account moneys on deposit in Fund A at such times and in such amounts as shall be established by a cooperation agreement for transportation (the "Agreement") to be entered into between Miami-Dade County and the Miami-Dade County Expressway Authority ("MDX"). For the purpose of enabling the Finance Director to quantify the amounts to be deposited to the MDX Account the County and MDX shall furnish to the Finance Director on or before January 1 in the fiscal year ending September 30, 2000 and on or before October 1 in each fiscal year thereafter a written schedule of required deposits applicable to such year and the times when amounts on deposit in the MDX Account shall be transferred to or upon the direction of MDX and shall furnish written amendments during the course of any year as required.

(b)

The Finance Director shall transfer from Fund B to the Stakeholders Account from moneys on deposit in Fund B in each year the respective amounts for the respective purposes set forth in Exhibit 2 to the ordinance from which this section derives under the headings "County-Wide Cultural Improvements" to the account of the Miami-Dade Department of Cultural Affairs or its successor and "A More Competitive Tourism Message" to the account of the Greater Miami Convention and Visitors Bureau or its successor and under the subheading "Scholarships to Local Colleges/Universities" under the heading "Champion Our Children Fund" to the account or accounts of the respective entities which will confer such scholarships and under the subheading "Arts in Education" under the heading "Champion Our Children Fund" to the account of the Miami-Dade Department of Cultural Affairs or its successor.

(c)

The Finance Director shall transfer from Fund B to the Municipalities Account the aggregate of the sums listed in the column entitled "3-YR SUM" in Exhibit 2 attached to the ordinance from which this section derives under the heading "Municipal Revenue Enhancements" which sums will be disbursed as soon as practicable to the municipalities listed in such heading. The municipalities may use the 3-YR SUM for any municipal purpose. The Finance Director further shall transfer from Fund A to the Municipalities Account annually the aggregate of the sums listed in the column entitled "YEARLY" in Exhibit 2 attached to the ordinance from which this section derives which sums will be disbursed at such times as the Finance Director shall determine. The aggregate of the YEARLY sums shall be adjusted annually by the percentage change in collection of the County local option fuel tax imposed pursuant to Section 336.025, Florida Statutes (1997) for the most recent 12-month period ending September 30. The municipalities shall use such YEARLY moneys only for transportation expenditures needed to meet the requirements of the capital improvement element of an adopted comprehensive plan as provided in Section 336.025(1)(b)3, Florida Statutes (1997).

(d)

The Finance Director shall transfer from Fund A to the County Transportation Account in each year the respective annual amounts (where noted) for the respective purposes set forth in the annual MDTA budget for maintenance and operation and in Exhibit 2 to the ordinance from which this section derives under the headings "Transit Fare Reductions," "Bus Service," "Rail Transit Expansion," "2020 Transportation Plan Restoration," "Transit System Improvements" and "County Roadway, Traffic and Pedestrian Mobility Enhancements," except the purposes listed therein under the subheading "Community Enhancements" shall be funded from moneys in the County Non-Transportation Account. The Finance Director shall disburse the amounts on deposit in the County Transportation Account at such times as the Finance Director shall determine or as required to meet acquisition, construction or payment schedules or as required to meet funding requirements established in documents securing indebtedness payable in whole or in part from moneys in Fund A. The moneys in the County Transportation Account shall be used for the purposes described under the foregoing headings subject to any amendments made in accordance with the MPO process.

(e)

The Finance Director shall transfer from Fund B to the County Non-Transportation Account in each year the respective annual amounts (where noted) for the respective purposes set forth in Exhibit 2 to the ordinance from which this section derives under the headings "Champion Our Children Trust Fund," (excluding the subheadings "Scholarships to Local Colleges/Universities" and "Arts in Education" which are provided for under Subsection (b) of this Section 29-118) "Economic Development and Job Creation," "Major Capital Infrastructure Improvements," "Property Tax and Budget Relief" and "Beach Renourishment and Maintenance" and under the subheading "Community Enhancements" under the heading "County Roadway, Traffic and Pedestrian Mobility Enhancements." The Finance Director shall disburse the amounts on deposit in the County Non-Transportation Account at such times as the Finance Director shall determine or as required to meet acquisition, construction or payment schedules or as required to meet funding requirements established in documents securing indebtedness payable in whole or in part from moneys in Fund B. In determining the annual amounts payable under the heading "Property Tax and Budget Relief" pursuant to the Save Our Seniors Program, the Finance Director may rely on a schedule prepared annually by the County Tax Collector of the rebates owed to the respective local governments and to the County for lost revenues resulting from the Save Our Seniors Program.

(f)

In the event that moneys in Fund B are pledged to secure indebtedness incurred by the County to finance capital improvements contemplated by Subsection (e) of this Section 29-118 the documents authorizing and securing such indebtedness shall limit the pledge of moneys in Fund B to those portions of such moneys derived from non ad valorem tax revenues.

(g)

In the event that moneys on deposit in Fund A are insufficient in any year to meet the deposit requirements of the MDX Account or the YEARLY component of the Municipalities Account, the Finance Director is hereby authorized and directed to transfer available and unencumbered moneys on deposit in the County Transportation Account, as required to make up such deficiency.

(h)

In the event that the Finance Director shall receive an opinion of the County Attorney that all or any part of the proceeds from the annual MDTA general fund subsidy or the proceeds from MDTA revenues are legally dedicated solely to transit system purposes, the Finance Director shall restrict said subsidy and revenues to transit system purposes to the extent required by such opinion of the County Attorney.

(i)

Exhibit 3 attached to the ordinance from which this section derives is included to indicate the capital improvements and the service, economic, cultural and revenue enhancements described in Exhibit 2 thereto which will benefit the respective Commission Districts and Municipalities.

(Ord. No. 99-68, § 1, 6-22-99)