HomeMy WebLinkAbout2007-06-04-Ordinance 2604_Urban Renewal Plan, 2007 AdditionORDINANCE NO.2604
]AN ORDINANCE PROVIDING FOR THE DIVISION OF TAXES LEVIED ON
TAXABLE PROPERTY IN THE 2007 ADDITION TO THE WAUKEE
URBAN RENEWAL AREA,PURSUANT TO SECTION 403.19 OF THE
CODE OF IOWA
WHEREAS,an ordinance entitled "An Ordinance Providing For The Division Of Taxes
Levied On Taxable Property In The Waukee Urban Renewal Area of the City of Waukee,Iowa,
Pursuant To Section 403.19 of the Code ofIowa"was previously enacted by the Council of the
City of Waukee,Iowa;and
WHEREAS,pursuant to said ordinance the Waukee Urban Renewal Area Urban
Renewal Area in the City of Waukee was designated a "tax increment district";and
WHEREAS,the City Council now desires to increase the size of the "tax increment
district"designated by said ordinance by adding additional property;
BE IT ENACTED by the Council of the City of Waukee,Iowa:
Section 1.Purpose.The purpose of this ordinance is to provide for the division of
taxes levied on the taxable property in the 2007 Addition to the Waukee Urban Renewal Area of
the City of Waukee,Iowa,each year by and for the benefit of the state,city,county,school
districts or other taxing districts after the effective date of this ordinance in order to create a
special fund to pay the principal of and interest on loans,moneys advanced to or indebtedness,
including bonds proposed to be issued by the City of Waukee to finance projects in such area.
Section 2.Definitions.For use within this ordinance the following terms shall have
the following meanings:
"City"shall mean the City of Waukee,Iowa.
"County"shall mean Dallas County,Iowa.
"Urban Renewal Area"shall mean the entirety of the Waukee Urban Renewal Area as
amended from time to time.
"Urban Renewal Area Amendment"shall mean the 2007 Addition to the Waukee Urban
Renewal Area of the City of Waukee,Iowa,the boundaries of which are set out below,approved
by the City Council by resolution adopted on the 21st day of May,2007:
The right-of-way of V Avenue from 312th Place to Ashworth Road
Lots Fourteen (14),Fifteen (15),and Sixteen (16)in Block Twelve
(12)in the First Addition to the Town,now City of Waukee,in
Dallas County,Iowa;
AND
That portion of the Southwest Quarter of Section 33 lying west of 6th
Street in Waukee,all in Township 79 North,Range 26 West of the 5th
p.m.,Dallas County,Iowa;
AND
Government Lot 3,Section 4,Township 78 North,Range 26 West of the
Fifth Principal Meridian,City of Waukee,Dallas County,Iowa.
Section 3.Provisions for Division of Taxes Levied on Taxable Property in the Urban
Renewal Area Amendment.After the effective date of this ordinance,the taxes levied on the
taxable property in the Urban Renewal Area Amendment each year by and for the benefit of the
State of Iowa,the City,the County and any school district or other taxing district in which the
Urban Renewal Area Amendment is located,shall be divided as follows:
(a)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 Amendment,as shown on the assessment roll as
of January I of the calendar year preceding the first calendar year in which the City certifies to
the County Auditor the amount of loans,advances,indebtedness,or bonds payable from the
special fund referred to in paragraph (b)below,shall be allocated to and when collected be paid
into the fund for the respective taxing district as taxes by or for said taxing district into which all
other property taxes are paid.For the purpose of allocating taxes levied by or for any taxing
district which did not include the territory in the Urban Renewal Area Amendment on the
effective date of this ordinance,but to which the territory has been annexed or otherwise
included after the effective date,the assessment roll applicable to property in the annexed
territory as of January I of the calendar year preceding the effective date of the ordinance which
amends the plan for the Urban Renewal Area Amendment to include the annexed area,shall be
used in determining the assessed valuation of the taxable property in the annexed area.
(b)that portion of the taxes each year in excess of such amounts shall be allocated to
and when collected be paid into a special fund of the City to pay the principal of and interest on
loans,moneys advanced to or indebtedness,whether funded,refunded,assumed or otherwise,
including bonds issued under the authority of Section 403.9(1),of the Code ofIowa,incurred by
the City to finance or refinance,in whole or in part,projects in the Urban Renewal Area,and to
provide assistance for low and moderate-income family housing as provided in Section 403.22,
except that taxes for the regular and voter-approved physical plant and equipment levy of a
school district imposed pursuant to Section 298.2 of the Code ofIowa,and taxes for the payment
of bonds and interest of each taxing district shall be collected against all taxable property within
the taxing district without limitation by the provisions of this ordinance.Unless and until the
total assessed valuation of the taxable property in the Urban Renewal Area Amendment exceeds
the total assessed value of the taxable property in such area as shown by the assessment roll
referred to in subsection (a)of this section,all of the taxes levied and collected upon the taxable
property in the Urban Renewal Area Amendment shall be paid into the funds for the respective
taxing districts as taxes by or for said taxing districts in the same manner as all other property
taxes.When such loans,advances,indebtedness,and bonds,if any,and interest thereon,have
been paid,all money thereafter received from taxes upon the taxable property in the Urban
Renewal Area Amendment shall be paid into the funds for the respective taxing districts in the
same manner as taxes on all other property.I
(c)the portion of taxes mentioned in subsection (b)of this section and the special
fund into which that portion shall be paid may be irrevocably pledged by the City for the
payment of the principal and interest on loans,advances,bonds issued under the authority of
Section 403.9(1)of the Code of Iowa,or indebtedness incurred by the City to finance or
refinance in whole or in part projects in the Urban Renewal Area.
(d)as used in this section,the word "taxes"includes,but is not limited to,all levies
on an ad valorem basis upon land or real property.
Section 4.Repealer.All ordinances or parts of ordinances III conflict with the
provisions of this ordinance are hereby repealed.
Section 5.Saving Clause.If any section,provision,or part of this ordinance shall be
adjudged invalid or unconstitutional,such adjudication shall not affect the validity of the
ordinance as a whole or any section,provision or part thereof not adjudged invalid or
unconstitutional.
Section 6.Effective Date.This ordinance shall be effective after its final passage,
approval and publication as provided by law.
Passed by the Council ofthe City of Waukee,low,t
Attest:
Approved this 4th day ofJune,2007.
Attest:
I