Section 3. - Transition of authority.

(1) On July 1, 1997, the OED shall assume all powers, duties and functions formerly held by the authority and the OED is hereby declared to be the legal successor to all such powers, duties and functions and shall be entitled to exercise the same as well as any others heretofore delegated to or exercised by the authority. (2) Any functions of the authority which were performed by it under any law, resolution, contract, rule or regulation which remain unfulfilled as of July 1, 1997, shall thereafter be performed by the OED and the authority's assets, liabilities, contracts, property, records (as needed by the OED) and unexpended balances of appropriations are transferred to the OED and the authority's assets, liabilities, contracts, property, records (as needed by the OED) and unexpended balances of appropriations are transferred to the OED as of that date. The mayor is authorized to make such determinations as may be necessary with regard to the transfers mandated by this section and to make such additional incidental dispositions of personnel, assets, liabilities, contracts, property, records and unexpended balances of appropriations as he may deem necessary to accomplish an orderly transfer from the authority to the OED, subject to the council-approved budget and accounting code of the city. (3) All plans, programs, projects, recommendations, contract agreements, rules and regulations which were made, approved or undertaken by the authority prior to July 1, 1997, are ratified and confirmed and shall continue in effect, according to their terms, until modified, terminated, superseded or revoked either by their own terms, operation of law, or by action of the OED in accordance with law. The OED shall be substituted for the authority in all such plans, programs, projects, recommendations, contracts, agreements, rules and regulation and shall have full power in connection therewith as provided herein. (Laws of Fla., Ch. 97-339, § 10; Ord. 2012-364-E, § 10)