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<br />as a Redevelopment Area (pursuant to the TIF Act). <br />(4) In accordance with Section 99.850 of the TIF Act, the tax rates of all affected <br />taxing district shall be extended and taxes levied, collected and distributed in the manner <br />applicable in the absence of the establishment of the Olive Boulevard East Tax Increment <br />Financing District. <br />(5) All surplus funds, if any, in the Special Allocation Fund of the City of <br />University City, shall be disbursed in accordance with the TIF Act. <br />Section 2: Severability. The sections, paragraphs, phrases, clauses, and words <br />of this Ordinance shall be severable. In the event that any portion of this Ordinance is <br />found by a court of competent jurisdiction to be invalid, the remaining portions of this <br />Ordinance are valid, unless the court finds the valid portions of this Ordinance are so <br />essential and inseparably connected with and dependent upon the void portion that it <br />cannot be presumed that the City Council would have enacted the valid portions without <br />the invalid ones, or unless the court finds that the valid portions standing alone are <br />incomplete and are incapable of being executed in accordance with the legislative intent. <br />Section 3: Effective Date. This Ordinance shall be in full force and effect from and <br />after the date of its passage and approval. <br />PASSED AND APPROVED THIS _____ DAY OF _______________, 2007. <br /> <br />_________________________________ <br />MAYOR <br />ATTEST: <br /> <br /> <br />___________________________________ <br />CITY CLERK <br /> <br />CERTIFIED TO BE CORRECT AS TO FORM: <br /> <br /> <br />July 16, 2007 <br /> <br />