HomeMy WebLinkAbout2005-12-05-Resolutions 05-226_TIF Certification - Waukee 2000THE CITY OF WAUKEE,IOWA
RESOLUTION 05-226 ]
OBLIGATING FUNDS FROM THE URBAN RENEWAL TAX REVENUE
FUND FOR APPROPRIATION TO THE PAYMENT OF ANNUAL
APPROPRIATION TAX INCREMENT FINANCED OBLIGATIONS
WIDCH SHALL COME DUE IN THE NEXT SUCCEEDING FISCAL
YEAR
WHEREAS,the City of Waukee,Iowa (the "City"),pursuant to and in strict compliance
with all laws applicable to the City,and in particular the provisions of Chapter 403 of the Code
of Iowa,has adopted an Urban Renewal Plan for the Waukee 2000 Urban Renewal Area (the
"Urban Renewal Area");and
WHEREAS,this Council has adopted an ordinance providing for the division of taxes
levied on taxable property in the Urban Renewal Area pursuant to Section 403.19 of the Code of
Iowa and establishing the fund referred to in Subsection 2 of Section 403.19 of the Code ofIowa
(the "Urban Renewal Tax Revenue Fund"),which fund and the portion of taxes referred to in
that subsection may be irrevocably pledged by the City for the payment of the principal and
interest on indebtedness incurred under the authority of Section 403.9 of the Code of Iowa to
finance or refinance in whole or in part projects in the Urban Renewal Area;and
WHEREAS,the City has scheduled payments in an amount up to $196,000.00 (the
"Annual Payment")which shall come due in the fiscal year beginning July 1,2006 with respect
to the City's Waukee 2000:Enterprise Business Park Plat 3 2001 and Eastpark
Development Agreement 2000 ;and
WHEREAS,it is now necessary for the City Council to obligate for appropriation to the
Annual Payment,funds anticipated to be received in the Urban Renewal Tax Revenue Fund in
the fiscal year beginning July 1,2006;
NOW,THEREFORE,It is resolved by the City Council of the City of Waukee,Iowa,as
follows:
Section 1.The City Council hereby obligates up to $196,000.00 for appropriation
from the Urban Renewal Tax Revenue Fund to the Annual Payment in the fiscal year beginning
July 1,2006.
Section 2.The City Clerk is hereby directed to certify the amount obligated for
appropriation in Section 1 above,on the City's December 1,2006 certification of debt payable
from the Urban Renewal Tax Revenue Fund and to reflect such amount in the City's budget for
the next succeeding fiscal year.
Section 3.
repealed.
All resolutions or parts of resolutions 111 conflict herewith are hereby
Passed and approved December 5,2005.
Attest:
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,Jr.
Bill Peard
JeffY.Mertz
Darlene Stanton
AYE
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NAY ABSENT