HomeMy WebLinkAbout1989-01-10-Ordinance 2107_Urban Renewal PlanORDINANCE NO.2107
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
OF IOWA.
BE IT ENACTED by the Council of the City of Waukee:
Section 1.Purpose.The purpose of this ordinance is
to provide for the division of taxes levied on the taxable
property in 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 the County of Dallas,Iowa.
"Urban Renewal Area"shall mean the Waukee Urban Renewal
Area of the City of Waukee,Iowa,the boundaries of which are
set out below,such area having been identified in the Urban
Renewal Plan approved by the City Council by resolution adop-
ted on November 8,1988:
The Northwest Quarter (NWlj4)
(35),Township Seventy-nine (79)
(26)West,Fifth P.M.,City of
Iowa.
of Section Thirty-five
North,Range Twenty-six
Waukee,Dallas County,
Section 3.Provisions for Division of Taxes Levied on
Taxable Property in Urban Renewal Area.After the effective
date of this ordinance,the taxes levied on the taxable pro-
perty in the Urban Renewal Area each year by and for the ben-
efit 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,of the
calendar year preceding the effective date of this ordinance,
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 ordi-
nance,but to which the territory has been annexed or other-
wise included after the effective date,the assessment roll
as of January 1,of the calendar year preceding the effective
date of this ordinance shall be used in determining the
assessed valuation of the taxable propety in the Urban Renew-
al Area on the effective date.
(b)that port ion 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,wheth-
e r funded,refunded,assumed or otherwise,including bonds
issued under the authority of Section 403.9(1),of the Code
of Iowa,incurred by the Ci ty to finance or ref inance,in
whole or in part,projects in the Urban Renewal Area,except
that taxes for the payment of bonds and interets of each tax-
ing district shall be collected against all taxable property
within the taxing district without limitation by the provi-
sions 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 sub-
section (a)of this section,all of the taxes levied and col-
lected upon the taxable property in the Urban Renewal Area
shall be paid into the funds for the respective taxing dist-
ricts as taxes by or for said taxing districts in the same
manner as al other property taxes.When such loans,advanc-
es,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 (bl 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 ref inance 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.
nances in conflict with the
hereby repealed.
All ordinances or parts of ordi-
provisions of this ordinance are
Section 5.Saving Clause.If any section,provision,
or part of this ordinance shall be adjudged invalid or un-
constitutional,such adjudication shall not effect the valid-
ity of the ordinance as a whole or any section,provision or
part thereof not adjudged invalid or unconstitutional.
Section 6.Effective Date.
effective after its final passage,
as provided by law.
This ordinance shall be
approval and publication
Passed by the Council of the City of Waukee,Iowa,this
10th day of January,1989.
Attest:
B
Attest:
aw,Clerk