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<br /> State Payments
<br /> The Office ofTourism,Trade,and Economic Development("OTTED") in the Executive office of
<br /> the Governor has certified the County as a "facility for a retained spring training franchise" pursuant to
<br /> Section 288.1162, Florida Statutes, as amended, for purposes of Section 212.20, Florida Statutes, as
<br /> amended. Pursuant to Section 212.20,a monthly distribution of$41,667.00 is to be made from the State
<br /> General Revenue Fund to the County. Monthly distributions began on February 28,2001 and will continue
<br /> for thirty(30)years.
<br /> An applicant certified as a facilityfora retained spring training franchise may use the funds provided
<br /> pursuant to s.212.20 onlyfor the public purpose ofpaying for the acquisition, construction,reconstruction,
<br /> or renovation of a facility for a retained spring training franchise or to pay or pledge for the payment of debt
<br /> service on, or to fund debt service reserve funds,arbitrage rebate obligations,or other amounts payable
<br /> with respect to,bonds issued for the acquisition,construction,reconstruction,or renovation of such facility
<br /> or for the reimbursement of such costs or the refinancing of bonds issued for such purposes.An applicant
<br /> certified may not receive more in distributions than actually expended by the applicant for the foregoing
<br /> purposes. However,a certified applicant is entitled to receive distributions up to the maximum amount
<br /> allowable and undistributed for additional renovations and improvements to the facility for the franchise
<br /> without additional certification.
<br /> Chapter 212,Part I,Florida Statutes,entitled"Tax on Sales or Use of Tangible Personal Property,
<br /> Admissions,Rentals and Services,"imposes a 6%sales tax on the sales price oftangible personal property
<br /> sold at retail in the State, subject to certain exemptions therefrom. A similar tax is imposed on the price
<br /> of tangible personal property when the property is not sold but is used, or stocked for use, in the State.
<br /> The largest single source of tax receipts in the State is the sales and use tax.
<br /> Unless a transaction is specifically exempt, the State sales and use tax is applicable to sales of
<br /> tangible personal property at retail in the State including the business of making mail order sales,the rental
<br /> or famishing of things or services taxable under Chapter 212, Florida Statutes, the storage for use or
<br /> consumption in the State of any item or article oftangible personal property, and the lease or rental of such
<br /> property within the State.
<br /> Pursuant to Section 212.20(1),Florida Statutes,the State Department of Revenue("DOR")shall
<br /> pay over to the State Treasurer all funds received and collected by it under Chapter 212,Part I,Florida
<br /> Statutes,to be credited to the account ofthe State General Revenue Fund,except the proceeds of the fee
<br /> imposed pursuant to Section 212.18(5),Florida Statutes. Set forth below is the distributionby the State
<br /> of such proceeds pursuant to Section 212.20(6),Florida Statutes:
<br /> (1) State General Revenue Fund: In any fiscal year, the greater of$500 million, minus an
<br /> amount equal to 4.6%of the proceeds of the taxes collected pursuant to Chapter 201,
<br /> Florida Statutes(documentary taxes),or 5%of all other taxes and fees imposed pursuant
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