NO EVENT in recent South Florida history has more polarized the residents of Hialeah than the Federal corruption trial of Mayor Raul Martinez. For the past decade, he has been the dominant figure in Dade's second largest city. As such, he is loved and reviled intensely.

Martinez's indictment last April brought city government to a virtual halt. It has since kept it in a kind of limbo. His conviction last week on six of eight counts of racketeering and extortion now threatens to extend that paralysis indefinitely.

Hialeah needs urgently to get back to business. It can't very well do so unless Martinez resigns and a new mayoral election is held. Gov. Lawton Chiles announced after the trial that, following precedent, he will not formally remove Raul Martinez from office until the suspended mayor has exhausted his legal appeals. That could take years. In the meantime, Hialeah is left with a caretaker mayor that no one elected.

That's not fair either to the interim mayor, Julio Martinez, or to the people of Hialeah. Since inheriting the office 11 months ago, Julio Martinez consistently has accused Raul Martinez's followers of sabotaging his administration. Regardless of the veracity of the allegations, the truth is that chaos has reigned at Hialeah City Hall. A few days ago, for example, vandals broke into the acting mayor's office, leaving bizarre witchcraft symbols in their wake.

Likewise, unless Raul Martinez steps down, voters in Hialeah could have to endure an unelected administration for 2 1/2 more years. Under Hialeah's strong-mayor system, that could have negative long-term consequences for the city. The unexpected tenure also gives the interim mayor a head start in his 1993 election bid.

Given all of these circumstances, Raul Martinez should place the best interests of the people of Hialeah foremost and resign as mayor. If his conviction is overturned on appeal, he would have sufficient opportunity -- and support -- to run again for mayor.