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HomeMy WebLinkAbout2003-02-03-Ordinance 2398_Urban Renewal Plan, 2003 AdditionORDINANCE NO.2398 AN ORDINANCE PROVIDING FOR THE DNISION OF TAXES LEVIED ON TAXABLE PROPERTY IN THE 2003 AMENDMENT TO THE WAUKEE URBAN RENEWAL AREA,PURSUANT TO SECTION 403.19 OF THE CODE OF IOWA WHEREAS,the City Council enacted an ordinance entitled "An Ordinance Providing For The Division Of Taxes Levied on Taxable Property In The Waukee Urban Renewal Area of the City of Waukee,Iowa,Pursuant To Section 403.19 of the Code ofIowa";and WHEREAS,pursuant to that ordinance,the Waukee Urban Renewal Area in the City of Waukee was designated a "tax increment area";and WHEREAS,the City Council now desires to amend the size of the "tax increment area" by adding additional property and deleting other property; BE IT ENACTED by the Council of the City of Waukee,Iowa: Section 1.Purpose.The purpose of this ordinance is to provide for the division of taxes levied on the taxable property in the 2003 Amendment to the Waukee Urban Renewal Area of the City of Waukee,Iowa,each year by and for the benefit of the state,city,county,school districts 0 r 0 ther taxing districts after the effective date 0 f t his 0 rdinance in 0 rder to c reate a special fund to pay the principal of and interest on loans,moneys advanced to or indebtedness, including bonds proposed to be issued by the City of Waukee to finance proj ects in such area. Section 2.Definitions.For use within this ordinance the following terms shall have the following meanings: "City"shall mean the City of Waukee,Iowa. "County"shall mean the County of Dallas,Iowa. "Urban Renewal Area Amendment"shall mean the 2003 Amendment to the Waukee Urban Renewal Area of the City of Waukee,Iowa,the description of which is set out below, approved by the City Council by resolution adopted on the 6th day of January,2003. ADDITIONS Charles Edward Shaffer ETAL SE 1/4 of the NE 1/4 of Section 9,Township 78 North,Range 26 West of the 5th P.M.,Dallas County,Iowa,(consisting of approximately 27 acres)EXCEPT 11 acres more OT less for Interstate 80 ROW and Government Lot 15 and E 1/4 of the SW 1/4 and the West 3/8ths of the SE 1/4 in Section 4 in Township 78 North,Range 26 West of the 5th P.M.,Dallas County, Iowa,(consisting of approximately 140 acres) Stephen R Grubb Hawthome Ridge Plat 1 Lot 1 (consisting of approximately 3.53 acres) DELETION Granquist Enterprise Business Park Plat 4 except Lots 12 and 13 (consisting of approximately 4.63 acres) Section 3.Provisions for Division of Taxes Levied on Taxable Property in the Urban Renewal Area Amendment.After the effective date of this ordinance,the taxes levied on the taxable property in the Urban Renewal Area Amendment each year by and for the benefit of the State of Iowa,the City,the County and any school district or other taxing district in which the Urban Renewal Area Amendment is located,shall be divided as follows: (a)that portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts upon the total sum of the assessed value of the taxable property in the Urban Renewal Area Amendment,as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the City certifies to the County Auditor the amount of loans,advances,indebtedness,or bonds payable from the special fund referred to in paragraph (b)below,shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid.For the purpose of allocating taxes levied by or for any taxing district which did not include the territory in the Urban Renewal Area Amendment on the effective date of this ordinance,but to which the territory has been annexed or otherwise included after the effective date,the assessment roll applicable to property in the annexed territory as of January I of the calendar year preceding the effective date of the ordinance which amends the plan for the Urban Renewal Area Amendment to include the annexed area,shall be used in determining the assessed valuation ofthe taxable property in the annexed area. (b)that portion of the taxes each year in excess of such amounts shall be allocated to and when collected be paid into a special fund of the City to pay the principal of and interest on loans,moneys advanced to or indebtedness,whether funded,refunded,a ssumed or otherwise, including bonds issued under the authority of Section 403.9(1),of the Code ofIowa,incurred by the City to finance or refinance,in whole or in part,projects in the Urban Renewal Area I Amendment,except that taxes for the payment of bonds and interest of each taxing district shall be collected against all taxable property within the taxing district without limitation by the . provisions of this ordinance.Unless and until the total assessed valuation of the taxable property in the Urban Renewal Area Amendment exceeds the total assessed value of the taxable property in such area as shown by the assessment roll referred to in subsection (a)of this section,all ofthe taxes levied and collected upon the taxable property in the Urban Renewal Area Amendment shall be paid into the funds for the respective taxing districts as taxes by or for said taxing districts in the same manner as all other property taxes.When such loans,advances, indebtedness,and bonds,if any,and interest thereon,have been paid,all money thereafter received from taxes upon the taxable property in the Urban Renewal Area Amendment shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. (c)the p ortion 0 f taxes mentioned ins ubsection (b)0 f this section and t he special fund into which that portion shall be paid may be irrevocably pledged by the City for the payment of the principal and interest on loans,advances,bonds issued under the authority of Section 403.9(1)of the Code of Iowa,or indebtedness incurred by the City to fmance or refmance in whole or in part projects in the Urban Renewal Area Amendment. (d)as used in this section,the word "taxes"includes,but is not limited to,all levies on an ad valorem basis upon land or real property. Section 4.Repealer.All ordinances or parts of ordinances m conflict with the provisions of this ordinance are hereby repealed. Section 5.Saving Clause.If any section,provision,or part of this ordinance shall be adjudged invalid or unconstitutional,such adjudication shall not affect the validity of the ordinance as a whole or any section,provision or part thereof not adjudged invalid or unconstitutional. Section 6.Effective Date.This ordinance shall be effective after its final passage, approval and posted as provided by law. Passed by the Council ofthe City of Waukee,Iowa,the 3rd day of February,2003.