HomeMy WebLinkAbout2018-11-19-Resolutions 18-481_TIF Certification - Hickman WestTHE CITY OF WAUKEE,IOWA
RESOLUTION 18-481
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 Hickman West 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 City h h d 1 d 0 y t 1 t p t $741203.00 fth
"A JPy ti hih h11 d 1 th 0 iy bgi igf iy1,2019 ith p tt
the City's 2014A Bond 2016B Bond Brick/Re enc Develo ment A reement
Administrative &Le al Fees and Fiscal 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,2019;
WHEREAS,the City Council desires to release 100'/0 of the increment generated from the
Actual residential valuation in the Urban Renewal District for tax collections payable in the
2019/2020 fiscal year.
NOW,THEREFORE,It is resolved by the City Council of the City of Waukee,Iowa,as
follows:
S ti 1.Th CityC ilh by bEgt pt $741203.00f pp p'ti
f th C b R 1 T R P d t th A 1 P y tie th f 1 y b gi 1 g
July I,2019.
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,2018 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repealed.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 19a',2018.
R.C aries Bottenberg,Mayor Pro Tem
Attest:
Rebecca D.Schuett,City Cler
RESULTS OF VOTE:
Anna Bergman
R.Charles Bottenberg
Courtney Clarke
Shelly Hughes
Larry R.Lyon
AYE
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X
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NAY ABSENT ABSTAIN