HomeMy WebLinkAbout4792 - 11/21/2005 INDEXVS BLACK HAWK COUNTY,IOWA:ss FEE BOOK# 2006 20373
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ILEDFORRECORD FEB 21 2006 ,AT 4:00 P.M. FEE 1-10.00-1.00/
COMPARED
• I BLACK HAWK COUNTY RECORDER
CITY OF WATERLOO
This Ordinance prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
ORDINANCE NO. 4792
AN ORDINANCE IMPOSING A TAX WITHIN THE CITY
OF WATERLOO, IOWA, OF ONE PERCENT (1%) UPON
LOCAL SALES AND SERVICE TO BE EFFECTIVE
JANUARY 1, 2006, AND ENDING ON DECEMBER 31,
2010, AND PROVIDING THAT THE REVENUE SHALL BE
DERIVED AND ALLOCATED IN ACCORDANCE WITH
CHAPTER 423B OF THE 2005 CODE OF IOWA.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA:
Section 1 . Tax Imposed
That a tax at the rate of one percent (1%) shall be imposed
in accordance with Chapter 423B of the 2005 Code of Iowa on the
local sales and services in the City of Waterloo, Iowa, to be
effective on January 1, 2006 and ending December 31, 2010 .
Section 2 . Distribution
The revenue generated by the imposition of the local sales
and service tax shall be allocated by the City of Waterloo, Iowa,
as follows :
Zero percent (0%) of said local option sales and service tax
is to be used for property tax relief.
One hundred percent (100%) of the revenue generated in the
City of Waterloo, Iowa, shall be designated for (1)
reconstruction/repair/replacement of existing streets,
curbs, structures, storm sewers; and (2) the construction/
improvement of streets, but only for projects for which
state or federal matching funds are available, all within
the corporate limits of the City of Waterloo.
Section 3 . Long Term Planning
The city' s street repair program requires a long term and
ongoing commitment . The five year imposition of the local option
sales and service tax will not solve all of the street repair
problems in Waterloo. In an effort to ensure that all streets
are properly repaired and maintained, city staff will submit to
the City Council prior to January 1, 2009, a report and
recommendation relative to the city street repair program, with
financing alternatives, in view of the December 31, 2010, sales
tax sunset date.
INTRODUCED: November 21, 2005
PASSED 1ST CONSIDERATION: November 21, 2005
PASSED 2ND CONSIDERATION: November 21, 2005
PASSED 3RD CONSIDERATION: November 21, 2005
' Ordinance No. 4792
Page 2
PASSED AND ADOPTED by the City Council of the City of
Waterloo, Iowa, on the 21st day of November, 2005, and approved
by the Mayor on the 23rd day of November, 2005 .
Tim Hurle , Mayo
7
ATTEST:
Nancyckert CMC
City Clerk
CERTIFICATE
I, Nancy Eckert, City Clerk of the City of Waterloo, Iowa,
do hereby certify that the preceding is a true and complete copy
of Ordinance No. 4792 as passed and adopted by the Council of the
City of Waterloo, Iowa, on the 21st day of November, 2005 .
Witness my hand and seal of office this 23rd day of
November, 2005 .
SEAQ il }� Nancy Ecker,CMC
RYA City Clerk
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