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Ordinance No. 2005 -75 Page 2 telecommunications facility be designated to the Economic Development Fund established by Ordinance No. 93 -24. The remaining seventy -five percent (75 %) of said downpayment from AT &T Wireless and, until June 6, 2005, all other revenues received by the City from AT &T Wireless and any other telecommunications entity in connection with the lease of City -owned land used as a site for a telecommunications facility, except as otherwise may be provided by Ordinance 2002 -48 for revenues received by Sprint PCS, shall be designated to the City's Recreation Fund. "Effective June 7, 2005, all revenues received by the City upon and after said date in connection with any lease or sublease of any City -owned property for use as a telecommunications facility shall be designated as follows: (a) seventy -five percent (75 %) to the Recreation Fund; and (b) twenty -five percent (25 %) to the Economic Development Fund." SECTION 2: That any Ordinance, or part of Ordinance, including Ordinance Nos. 97 -74 and 2002 -48, which are in conflict or inconsistent with the provisions of this Ordinance, shall, to the extent of any such conflict or inconsistency, be repealed. SECTION 3: That this Ordinance is hereby declared to be an emergency measure immediately necessary for the preservation of the public health, safety and welfare, and for the additional reason that this Ordinance must go into effect immediately so that the City may receive and expend needed funds to promote economic development in the City, and further provided that it receives the affirmative vote of two- thirds of all members of Council, it shall take effect and be in force immediately upon its passage and approval by the Mayor. PASSED: ATTES BARBARA L. SEMAN L of Council APPROVED: MAYOR THOMAS E. O'GRADY First Reading: Second Reading: Third Readinga: Committee: KEVIN M. KENNED President of Council APPROVED AS TO LEGAL FORM: /s /James M. Dubelko JAMES M. D UBELKO Director of Law