§ 30A-124. Expenditure of funds.

Moneys in the fund may be expended from time to time for the following purposes, when directly related to financing or refinancing redevelopment in the redevelopment area pursuant to the plan:

(1)

Administrative and overhead expenses necessary or incidental to the implementation of the plan.

(2)

Expenses or redevelopment planning, surveys, and financial analysis, including the reimbursement of the City Commission or the City of Florida City or the agency for such expenses incurred before the plan was approved and adopted.

(3)

The acquisition of real property in the redevelopment area.

(4)

The clearance and preparation of any redevelopment area for redevelopment and relocation of site occupants as provided in Section 163.370, Florida Statutes (1993).

(5)

The repayment of principal and interest or any redemption premium for loans, advances, bonds, bond anticipation notes, and any other form of indebtedness.

(6)

All expenses incidental to or connected with the issuance, sale, redemption, retirement, or purchase of agency bonds, bond anticipation notes, or other form of indebtedness, including funding of any reserve, redemption, or other fund or account provided for in the ordinance or resolution authorizing such bonds, notes, or other indebtedness.

(Ord. No. 95-108, § 4, 6-20-95)