HomeMy WebLinkAbout2012-11-19-Resolutions 12-263_TIF Certification - Waukee 2000THE CITY OF WAUKEE,IOWA
RESOLUTION 12-263
OBLIGATING FUNDS FROM THE URBAN RENEWAL TAX REVENUE
FUND FOR APPROPRIATION TO THE PAYMENT OF ANNUAL
APPROPRIATION TAX INCREMENT FINANCED OBLIGATIONS
WHICH 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 of Iowa
(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 $2,193,043.00 (the
"A11l111alPayment")which shall come due in the fiscal year beginning July 1,2013 with respect
to the City's 2007A Bonds,2009A+B Bonds,2010C Bonds,2012B+D Bonds,Bailey Chapel
Development Agreement,Crossing at Alice's Development Agreement,WRA SRF Loan,
Sidewalk FY12,Downtown Development Grant,Library HV AC FY12,Citv Hall Repairs,
PFM Fees FY12 and Administrative and Legal Fees;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 1,2013;and
WHEREAS,the City Council desires to release 100%of the increment generated from
the Actual residential valuation in the Urban Renewal District for tax collections payable in the
201312014 fiscal year.
NOW,THEREFORE,It is resolved by the City Council of the City of Waukee,Iowa,as
follows:
Section 1.The City Council hereby certifies up to $2,193,043.00 for appropriation
from the Urban Renewal Tax Revenue Fund to the Annual Payment in the fiscal year beginning
July 1,2013.
Section 2.The City Clerk is hereby directed to certify the amount obligated for
appropriation in Section 1 above,on the City's December 1,2012 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.
Passed and approved November 19'h,2012.
All resolutions or parts of resolutions ill conflict herewith are hereby
Attest:
ROLL CALL VOTE
Shane Blanchard
Dan Dutcher
Casey L.Harvey
Shelly Hughes
Mike Watts
AYE
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NAY ABSENT ABSTAIN