HomeMy WebLinkAbout1992-06-15-Ordinance 2156_Urban Renewal Plan, Waukee SouthwestORDINANCE NO.2156
An Ordinance Providing for the Division of Taxes Levied on Taxable
Property in the Waukee Southwest Urban Renewal Area of the City of
Waukee,Iowa,Pursuant to Section 403.19 of the Code of Iowa
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 Waukee Southwest 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 the County'of Dallas,Iowa.
"Urban Renewal Area"shall mean the Waukee Southwest Urban Renewal
Area of the City of Waukee,Iowa,the boundaries of 'which ate set out below,such
area having been identified in the Urban Renewal Plan approved by the City
Council by resolt;.tion adopted on June 15,1992:..
A tract of land of portions of'Government lot 4 and Government lot 5.all in
Section 5,Township 78 North,Range 26 West of the 5th Principal Heredian in
and forming a part of the City of Waukee,Dallas County,Iowa,and more
particularly described as follows:
I
Commencing .t the northwest conner of slid Section 5,Towns~ip 78
Horth,Ringe 26 West with the west line of slid section hiving In
essumed true belring of S 0'00'00'W,with .11 sUbsequent belringsreferencedtherefrom:thence Nag'55'04'E,•distlnce of forty
(40)feet:thence~·O'00'00'W,•distlnce of nine hundred
ei ;hty-nine andlnd -rorty-onehundredths (9S9.41)feet to the point
of beginning;thence H 89'57'E,I distance of five hundred two Indsixtyhundredths(502.60)feet;thence S 5S'34'"31'E,•dlstlnce
of three hundred fifty-one Ind two tenths (351.2)feet;thence
H 89'56'IS"E,•distance of four hundred seventy Ind twenty
hundredths (470.20)feet to I point on the elst line of Government
Lot 4;thence S O'OS'31'W,I distance of one thousand six hundredfifty-nine Ind twenty-ei;ht hundredths (I,S59.2S)feet;thence
S 83'22'09'W,I distance of one thousind two hundred seventy-sixIndtwenty-six hundredths (1,276.26)feet;thence H 0'DO'00"E,I
distance of five hundred twenty-nine Ind t~irty-four hundredths
(529.34)feet;thence H S3'II'E,I distlnce of ninety-seven Ind
seventy-two hundredths (97.72)feet:thence H O'00'00'E,I
distlnce of one hundred fifty-seven (157)feet;thence S 83'II'W,
I distance of ninety-seven and seventy-two hundredths (97.72)feet;
thence H 0"00'00'E,•distance of twenty-five (25)feet;thenceH83'iI'E,I distlnce of five Ind four hundredths (5.04)feet;
thence n 0"00'00'E,a distance of ei;ht hundred fifty-three and
thirty hundredths (853.30)feet;thence S 83'II'W ••distlnce of
five and four hundredths (5.04)feet;thence H O'00'.00'E,•
distance of four hundred twenty-three and seventy-five ~ndredths
'.(423.75)feet to the point of beginnin9.The above described
plrcel contlining fifty-two and seventy-nine (52,79)I~res,more orless.
Section 3.Provisions for Division of Taxes Levied on Taxable Property in
the Urban Renewal Area.After the effective date of this ordinance,the taxes levied
on the taxable property in the Urban Renewal Area 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 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,as shown on
the assessment roll as of January 1,1991,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 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 as of January 1,1991,shall be used in determining the assessed
valuation .of the taxable property in the Urban Renewal Area on the effective date.
(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 of Iowa,incurred by the City to finance or
refinance,in whole or in part,projects in the Urban Renewal Area,except that 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 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 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 shall be paid into the funds for the respective taxing districts in
the same manner as taxes on all other property.
(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 in conflict with
the provisions of this ordinance are hereby repealed.
Section 5.Saving Clause.If any section,prevlSlon,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 posting as provided by law.
Passed and approved by the Council of the City of Waukee,Iowa,on June 15,
-&z~~1992.
Attest:
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