§ 2-2364. Transportation Infrastructure Improvement District Trust Fund.

(a)

The Miami-Dade County Transportation Infrastructure Improvement District Trust Fund (the "Trust Fund") is hereby established. Subject to annual appropriation by the Board and notwithstanding Section 2-11.21 of the Code, the County shall, by January 1 of each year beginning January 1, 2019, deposit into the Trust Fund an amount equal to the Tax Increment as defined in Section 2-2362 above, excluding any amount from debt service millage and any amount derived from properties located within Community Redevelopment Areas established in accordance with Chapter 163, Florida Statutes, ("CRA") for the duration of the County's legal obligation to contribute into the CRA trust funds.

(b)

The County shall appropriate to the Trust Fund so long as there is outstanding indebtedness pledging the Tax Increment which has been approved by this Board, a sum that is no less than the Tax Increment. In no year shall the County's obligation to the Trust Fund exceed the amount of that year's Tax Increment. The County's Tax Increment contribution is to be accounted for as separate revenue within the Fund but may be combined with other revenues for the purpose of paying debt service. The Board must approve the amount, duration of the obligation and the purpose of any bond, note or other form of indebtedness, including advances, pledging or otherwise obligating the Tax Increment.

(Ord. No. 18-8, § 2, 2-6-18)