HomeMy WebLinkAbout2014-12-01-Resolutions 14-341_TIF Certification - Hickman WestTHE CITY OF WAUKEE,IOWA
RESOLUTION 14-341
OBLIGATING FUNDS FROM THE URBAN RENEWAL TAX REVENUE
FUND FOR APPROPRIATION TO THK PAYMENT OF ANNUAL
APPROPRIATION TAX INCREMENT FINANCED OBLIGATIONS
WHICH SHALL COME DUK IN THK 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 Hiclanan West Urban Renewal Area (the
"Urban Renewal Area");and
WHEREAS,tins 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"),wliich 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 past projects in the Urban Renewal Area;and
WHEREAS,the City Iras scheduled payments in an aero&mt up to $559 972.00 (the
"Atutuat Payment")winch shall come due in the fiscal year begburing July 1,2015 with respect
to the City's 2008C Bond 2014A Bond Brick/Re enc Develo ment A reement and
Sidwalk FY14 Pro'ect;and
WHEREAS,it is now necessary for the City Council to obligate for appropriation to the
Aimual Payment,funds anticipated to be received in the Urban Renewal Tax Revenue Fund in
the fiscal year begnming July 1,2015;
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
2015/2016 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 $559 972.00 for appropriation
horn the ffrban Renewal Tax Revenue Fund to the Annual Payment in the fiscal year beginning
July 1,2015.
Section 2.The City Clerk is hereby directed to certify the amount obligated for
appropriation in Section 1 above,on the City's December 1,2014 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 December 1",2014.
Casey .Har ey,P esiding Officer
Attest:
Rebecca D.Schuett,City Clerk
ROLL CALL VOTE
Shane Blanchard
Brian Harrison
Casey L.Harvey
Shelly Hugb.es
Rick Peterson
AYK NAY ABSKNT ABSTAIN
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