HomeMy WebLinkAbout2013-11-18-Resolutions 13-308_TIF Certification - Hickman WestTHE CITY OF WAUKEE,IOWA
RESOLUTION 13-308
OBLIGATING FUNDS FROM THE URBAN RENEWAL TAX REVENUE
FUND FOR APPROPRIATION TO THE PAYMENT OF ANNUAL
APPROPRIATION TAX INCREMENT FINANCED OBLIGATIONS
WIDeH 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 all 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 $578,648.00 (the
"Annual Payment")which shall come due in the fiscal year beginning July I,2014 with respect
to the City's 2008C Bond,20BC Bond,Fiscal Fees for Debt Service,Brick/Regency
Development Agreement,and Sidwalk FY13 Project;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,2014;
WHEREAS,the City Council desires to release 100%of the increment generated from
the Actual residential valuation in the Urhan Renewal District for tax collections payahle in the
201412015 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 obligates up to $578,648.00 for appropriation
from the Urban Renewal Tax Revenue Fund to the Annual Payment in the fiscal year beginning
July 1,2014.
Section 2.The City Clerk is hereby directed to certify the amount obligated for
appropriation in Section I ahove,on the City's December 1,2013 certification of deht payahle
from the Urban Renewal Tax Revenue Fund and to reflect such amount in the City's hudget for
the next succeeding fiscal year.
Section 3.
repealed.
Passed and approved November 18'\2013.
All resolutions or parts of resolutions in conflict herewith m-e hereby
Attest:
1JWkfMj!~
Rebecca D.Schuett,City Clerk
ROLL CALL VOTE AYE NAY ABSENT ABSTAIN
Shane Blanchard X
Casey L.Harvey X
Shelly Hughes X
C.Isaiah McGee X
Mike Watts X