HomeMy WebLinkAbout2017-11-20-Ordinance 2865_Urban Renewal Plan, Waukee CentralORDINANCE NO.2865
AN ORDINANCE PROVIDING THAT GENERAL PROPERTY
TAXES LEVIED AND COLLECTED EACH YEAR ON ALL
PROPERTY LOCATED WITHIN THE WAUKEE CENTRAL
URBAN RENEWAL AREA,IN THE CITY OF WAUKEE,
COUNTY OF DALLAS,STATE OF IOWA,BY AND FOR THE
BENEFIT OF THE STATE OF IOWA,CITY OF WAUKEE,
COUNTY OF DALLAS,WAUKEE COMMUNITY SCHOOL
DISTRICT,AND OTHER TAXING DISTRICTS,BE PAID TO
A SPECIAL FUND FOR PAYMENT OF PRINCIPAL AND
INTEREST ON LOANS,MONIES ADVANCED TO AND
INDEBTEDNESS,INCLUDING BONDS ISSUED OR TO BE
ISSUED,INCURRED BY THE CITY IN CONNECTION WITH
THE WAUKEE CENTRAL URBAN RENEWAL AREA (THE
WAUKEE CENTRAL URBAN RENEWAL PLAN)
WHEREAS,the City Council of the City of Waukee,State of Iowa,after public notice
and hearing as prescribed by law and pursuant to Resolution No.17-484 passed and approved on
the 16'"day of October,2017,adopted an Urban Renewal Plan (the "Urban Renewal Plan")for
an urban renewal area known as the Waukee Central Urban Renewal Area (the "Urban Renewal
Area"),which Urban Renewal Area includes the lots and parcels located within the area legally
described as follows:
PARCEL 17-140 AS DESCRIBED WITHIN THE PLAT OF SURVEY
RECORDED IN BOOK 2016 PAGE 24530,DALLAS COUNTY,IOWA 50263
INCLUDES PARCEL ¹1232200005
WHEREAS,expenditures and indebtedness are anticipated to be incurred by the City of
Waukee,State of Iowa,in the future to finance urban renewal project activities carried out in
furtherance of the objectives of the Urban Renewal Plan;and
WHEREAS,the City Council of the City of Waukee,State of Iowa,desires to provide for
the division of revenue from taxation in the Urban Renewal Area,as above described,in
accordance with the provisions of Section 403.19 of the Code of Iowa,as amended.
NOW,THEREFORE,BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WAUKEE,STATE OF IOWA;
Section 1.That the taxes levied on the taxable property in the Urban Renewal Area
legally described in the preamble hereof,by and for the benefit of the State of Iowa,City of
Waukee,County of Dallas,Waukee Community School District,and all other taxing districts
from and after the effective date of this Ordinance shall be divided as hereinafter in this
Ordinance provided.
Section 2.That portion of the taxes which would be produced by the rate at which the tax
is levied each year by or for each of the taxing districts upon the total sum of the assessed value
of the taxable property in the Urban Renewal Area,as shown on the assessment roll as of
January 1 of the calendar year preceding the first calendar year in which the City of Waukee,
State of Iowa,certifies to the Auditor of Dallas County,Iowa the amount of loans,advances,
indebtedness,or bonds payable from the division of property tax revenue described herein,shall
be allocated to and when collected be paid into the fund for the respective taxing district as taxes
by or for the taxing district into which all other property taxes are paid.
Section 3.That portion of the taxes each year in excess of the base period taxes
determined as provided in Section 2 of this Ordinance shall be allocated to and when collected be
paid into a special tax increment fund of the City of Waukee,State of Iowa,hereby established,
to pay the principal of and interest on loans,monies advanced to,indebtedness,whether funded,
refunded,assumed or otherwise,including bonds or obligations issued under the authority of
Section 403.9 or 403.12 of the Code of Iowa,as amended,incurred by the City of Waukee,State
of Iowa,to finance or refinance,in whole or in part,urban renewal projects undertaken within
the Urban Renewal Area pursuant to the Urban Renewal Plan,except that (i)taxes for the regular
and voter-approved physical plant and equipment levy of a school district imposed pursuant to
Iowa Code Section 298.2 and taxes for the instructional support program of a school district
imposed pursuant to Iowa Code Section 257.19 (but in each case only to the extent required
under Iowa Code Section 403.19(2));(ii)taxes for the payment of bonds and interest of each
taxing district;(iii)taxes imposed under Iowa Code Section 346.27(22)related to joint county-
city buildings;and (iv)any other exceptions under Iowa Code Section 403.19 shall be collected
against all taxable property within the Urban Renewal Area without any limitation as
hereinabove provided.
Section 4.Unless or until the total assessed valuation of the taxable property in the Urban
Renewal Area exceeds the total assessed value of the taxable property in the Urban Renewal
Area as shown by the assessment roll referred to in Section 2 of this Ordinance,all of the taxes
levied and collected upon the taxable property in the Urban Renewal Area shall be paid into the
funds for the respective taxing disu.icts as taxes by or for the taxing districts in the same manner
as all other property taxes.
Section 5.At such time as the loans,advances,indebtedness,bonds and interest thereon
of the City of Waukee,State of Iowa,referred to in Section 3 hereof have been paid,all monies
thereafter received from taxes upon the taxable property in the Urban Renewal Area shall be paid
into the funds for the respective taxing districts in the same manner as taxes on all other property.
Section 6.All ordinances or parts of ordinances in conflict with the provisions of this
Ordinance are hereby repealed.The provisions of this Ordinance are intended and shall be
construed so as to fully implement the provisions of Section 403.19 of the Code of Iowa,as
amended,with respect to the division of taxes from property within the Urban Renewal Area as
described above.In the event that any provision of this Ordinance shall be determined to be
contrary to law,it shall not affect other provisions or application of this Ordinance which shall at
all times be construed to fully invoke the provisions of Section 403.19 of the Code of Iowa with
reference to the Urban Renewal Area and the territory contained therein.
Section 7.This Ordinance shall be in effect after its final passage,approval and
publication as provided by law.
PASSED AND APPROVED this 20 day of November,2017.
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ATTEST:
City Clerk
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