HomeMy WebLinkAbout2013-11-18-Resolutions 13-309_TIF Certification - Waukee 2000THE CITY OF WAUKEE,row A
RESOLUTION 13-309
OBLIGATING FUNDS FROM THE URBAN RENEWAL TAX REVENUE
FUND FOR APPROPRIATION TO THE PAYMENT OF ANNUAL
APPROPRIATION TAX INCREMENT FINANCED OBLIGATIONS
wmca 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 $2,454,060.00 (the
"Annual Payment")which shall come due in the fiscal year beginning July 1,2014 with respect
to the City's 2009A1B Bonds,2010C Bonds,2012BID Bonds,2013B/D Bonds,Fiscal Fees for
Debt Service,Bailey Chapel Development Agreement,Crossing at Alice's Development
Agreement,WRA SRF Loan,Sidewalk FY13,Downtown Development Grant,Park
Improvements,City Hall Repairs,PFM Fees FY13 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 yearbeginning July 1,2014;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
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 certifies up to $2,454,060.00 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 1 above,on the City's December 1,2013 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 is",2013.
All resolutions or parts of resolutions in conflict herewith are hereby
Attest:
Rebecca D.Schuett,City Clerk
ROLL CALL VOTE
Shane Blanchard
Casey L.Harvey
Shelly Hughes
C.Isaiah McGee
Mike Watts
AYE
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NAY ABSENT ABSTAIN
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