HomeMy WebLinkAbout2016-11-21-Resolutions 16-500_TIF Certification - Waukee 2000THE CITY OF WAUKEE,IOWA
RESOLUTION 16-500
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,th Cityb I d I d p y t I t p t $2780009.00 fth
"A Epy t"9 hlbhll d thf ly bg Igllyl,2017 Ith p t
to the City's 2010C Bonds 2012B/D Bonds 2013B/C/D Bonds 2014A Bond Fiscal Fees for
Debt Service Crossin at Alice's Develo ment A reement Sidewalk FY16 PFM Fees
FY16 and Administrative and Le al 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 I,2017;and
WHEREAS,the City Council desires to release 100'/7l of the increment generated from
the Actual residential valuation in the Urban Renewal District for tax collections payable in the
2017/2018 fiscal year.
NOW,THEREFORE,It is resolved by the City Council of the City of Waukee,Iowa,as
follows:
S tl 1.Th City C Il h by hlf p t $2 700 009.00 f pp p I tl
f th ~0 R IT R 9 dt th A IPy t'th f ly bgl Ig
July I,2017.
Section 2.The Finance Director is hereby directed to certify the amount obligated for
appropriation in Section I above,on the City's December I,2016 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.All resolutions or parts of resolutions in conflict herewith are hereby
repealed.
Passed and approved November 21",2016.
illiam .Peard,M yor
Attest:
Rebecca D.Schuett,City Clerk
ROLL CALL VOTE
Anna Bergman
Brian Harrison
Shelly Hughes
Larry R.Lyon
Rick Peterson
AYK
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NAY ABSENT ABSTAIN