HomeMy WebLinkAbout4688-04/26/2004 INDEX BLACK HAWK COUNTY,IOWA:ss FEE BOOK# 20 04 33046
PROO FILED FOR RECORD MAY 19 ,2004 ,AT 3:00 P• M. FEE 1-35.00,/ - 5.00/
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BLACK HAWK COUNTY RECORDER
CITY OF WATERLOO ATTN NANCY ECKERT
This Ordinance prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
ORDINANCE NO. 4688
AN ORDINANCE AMENDING ORDINANCE NO. 3925
PROVIDING THAT GENERAL PROPERTY TAXES LEVIED
AND COLLECTED EACH YEAR ON ALL PROPERTY
LOCATED WITHIN THE AMENDED NORTHEAST
INDUSTRIAL URBAN REVEWAL AREA OF THE CITY OF
WATERLOO, COUNTY OF BLACK HAWK, STATE OF
IOWA, BY AND FOR THE BENEFIT OF THE STATE OF
IOWA, CITY OF WATERLOO, COUNTY OF BLACK HAWK,
WATERLOO 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 SAID CITY IN CONNECTION WITH THE
AMENDED NORTHEAST INDUSTRIAL AREA
WHEREAS, the City Council of the City of Waterloo, Iowa has
heretofore, in Ordinance No. 3925 provided for the division of
taxes within the Northeast Industrial Area, pursuant to Section
403 . 19 of the Code of Iowa; and
WHEREAS, additional territory now has been added to the
Northeast Industrial Project Area; and
WHEREAS, indebtedness has been incurred by the City, and
additional indebtedness is anticipated to be incurred in the
future, to finance urban renewal project activities within the
amended Northeast Industrial Area, and the continuing needs of
redevelopment within the amended Northeast Industrial Project
Area are such as to require the continued application of the
incremental tax resources of the amended Northeast Industrial
Project Area; and
WHEREAS, the following enactment is necessary to accomplish
the objectives described in the premises .
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, THAT:
Ordinance Number 3925 is hereby amended to read as follows :
Section 1 : For purposes of this Ordinance, the following
terms shall have the following meanings :
(a) Original Project Area shall mean that portion of the
City of Waterloo, Iowa described in the Urban Renewal Plan for
the Northeast Industrial Area approved by Ordinance No. 3925,
adopted on February 1, 1992 , which Original Project Area
includes the lots and parcels located within the area legally
described as follows :
Part of Sections 15, 20, 21 and 22 , Township 89 North,
Range 12 West of the 5th Principal Meridian in the City
Ordinance No. 4688
Page 2
of Waterloo, Black Hawk County, Iowa, described as
follows :
Beginning at the Southeasterly corner of Section 20,
Township 89, Range 12 , thence West along the South
line of said section to a point that is sixty-six (66)
feet West of the West line of the East one-half (1/2)
of the Southeast quarter (SE 1/4) of said section,
thence North along a line sixty-six (66) feet West of
the West line of said East one-half (1/2) to its
intersection with the South line of the North one-half
(1/2) of the Northwest quarter (NW 1/4) of the
Southeast quarter (SE 1/4) Section 20, thence West on
said South line and its extension Westerly to the
South line of the Chicago and Northwestern
Transportation Company right-of-way, thence
Northeasterly along said right-of-way line to its
intersection with the West line of the East one
quarter (1/4) of said section, thence Northerly along
the West line of the Northeast quarter (NE 1/4) of the
Southeast quarter (SE 1/4) said section to the
Southwest corner of the Southeast quarter (SE 1/4) of
the Northeast quarter (NE 1/4) said section, thence
West along the South line of the North one-half (1/2)
of said section to the West line of said section,
thence North along the West line to the Northwest
corner of the Southwest quarter (SW 1/4) of the
Northwest quarter (NW 1/4) said section, thence East
one hundred ninety-four and four tenths (194 . 4) feet,
thence North parallel to the West line of said section
to the North line of said section, thence East to the
Northeast corner of said Section 20, thence continuing
East along the North line Section 21, Township 89,
Range 12 to the Northeast corner of said section,
thence North along the West line of Section 15,
Township 89, Range 12 to the Northwest corner of the
Southwest quarter (SW 1/4) of the Southwest quarter
(SW 1/4) said section, thence East along the North
line of the Southwest quarter (SW 1/4) of the
Southwest quarter (SW 1/4) to the Northeast corner of
said quarter (1/4) quarter (1/4) said section, thence
South along the East line of the Southwest quarter (SW
1/4) of the Southwest quarter (SW 1/4) said section to
its intersection with the South line of the Chicago
and Northwestern Transportation Company Railroad
right-of-way, thence Northeasterly along said South
right-of-way line to its intersection with the East
line of the Southeast quarter (SE 1/4) of the
Southwest quarter (SW 1/4) of said section, said point
also being a point on the current Corporate City Limit
Line of Waterloo, thence South following the current
(1992) Corporate Limits of said City to the South line
of Section 15, said line also being the North line of
Section 22 , Township 89, Range 12, thence continuing
South along the East line of the Northeast quarter (NE
1/4) of the Northwest quarter (NW 1/4) Section 22 ,
Township 89, Range 12 to a point that is 680 feet
South of the North line said Section, thence West
Ordinance No. 4688
Page 3
along a line 680 feet normally distant Southerly of
section line approximately 1500'±, thence North
40°01' 01" West 166 . 19 feet, thence North 15°32 ' 50"
West 194 . 91 feet, thence North 02°34' 55" West 174 . 45
feet, thence North 32°18' 09" East 115 . 17 feet, thence
North 57°10' 27" East 111 . 27 feet to the South line of
the Chicago Northwestern Transportation Company,
thence South 70°11' 41" West along said South right-of-
way line to a point that is 264 . 54 feet Northeasterly
of the West line Section 22 , thence South 86°28' 27"
East 190 . 29 feet, thence South 73°13 ' 02" East 119 . 21
feet, thence South 61°04 ' 21" East 154 . 14 feet, thence
South 40°08 ' 51" East 145 . 09 feet, thence South
24°47' 31" East 141 . 92 feet, thence South 9°45' 15" East
287 . 51 feet, thence South 0°06' West 261 .27 feet,
thence South 14°18" West 256 . 24 feet, thence South
65 . 02 feet, thence West 766 feet to the East line of
North Elk Run Road, thence South 70 feet along said
right-of-way, thence East 391 feet, thence South 60
feet, thence East 130 feet, thence South 60 feet,
thence East 165 feet, thence South 0°07' 14" East
777 . 35 feet, thence South 81°02 ' 06" West 255 . 19 feet,
thence South 94 . 32 feet to the South line of the
Northwest quarter (NW 1/4) said section, thence West
along said South line to the centerline of North Elk
Run Road, which is also a point on the West line
Section 22 , Township 89, Range 12 , thence North along
said West line to the South line of the Chicago
Northwestern Transportation Company, thence
Southwesterly along said South right-of-way line
through Section 21, Township 89, Range 12 to its
intersection with the West line of Southeast quarter
(SE 1/4) of the Northwest quarter (NW 1/4) , Section
21, thence South along said West line to the Northwest
corner of the Northeast quarter (NE 1/4) of the
Southwest quarter (SW 1/4) said Section, thence East
along the North line of the Southwest quarter (SW 1/4)
said section to the center of Section 21, said point
also being a point on the corporate limit line of
Waterloo, thence South along the East line of
Southwest quarter (1/4) said section to the South line
of said section, thence West along the South line
Section 21 to the point of beginning, all in the City
of Waterloo, Black Hawk County, Iowa;
(b) Amendment No. 1 Area shall mean that portion of the
City of Waterloo, Iowa described in Amendment No. 1 to the Urban
Renewal Plan for the Northeast Industrial Area, which Amendment
No. 1 Area includes the lots and parcels located within the area
legally described as follows :
That part of Section 21 Township 89 Range 12 as
follows :
The Southeast % of said section, except the Southeast
1/ of the Southeast 1/ of said section, and except the
East 332 feet of the South 693 feet of the Southwest 14
of the Southeast 4 said section.
Ordinance No. 4688
Page 4
That part of Section 20 Township 89 Range 12 as
follows :
Beginning at a point on the West line of Section 20
Township 89 Range 12 , that is 990' North of the
Southwest corner of said section, thence North along
the West line of said section to the West 1/ corner of
said section thence East along the centerline of said
section to the point where it intersects the Northwest
corner of the Northeast 4 of the Southeast 4 of said
section, thence South along the West line of the
Northeast 1/ of the Southeast 1% of said section to the
South line of Union Pacific Railroad, thence
Southwesterly along said South right-of-way line to
the South line of the North % of the Northeast 4 of
the Southwest 14 of Section 20 Township 89 Range 13,
thence East along the South line of North % of the
Northeast 1/ of the Southwest 4 and the South line of
the North % of the Northwest 1/ of the Southeast 1/ to
its intersection with a line 66 feet West of and
parallel to the West line of the East % of the
Southeast 14 said section, thence South along said
parallel line to the South line of said Section,
thence West along the South line of said section to
the centerline of Bishop Avenue, thence Northerly
along the centerline of Bishop Avenue, as now
established, to North line of the South 990' of said
section, thence West along the North line of the South
990' of said section to the point of beginning, all in
the City of Waterloo, Black Hawk County, Iowa;
(c) Amended Project Area shall mean that portion of the
City of Waterloo, Iowa included within the Original Project Area
and the Amendment No. 1 Area, which Amended Project Area
includes the lots and parcels located within the area legally
described as follows :
Part of Sections 15, 20, 21, and 22 , Township 89
North, Range 12 West of the 5th Principal Meridian in
Black Hawk County, Iowa, described as follows :
All of Section 20 Township 89 Range 12 except that
part of the South 990' of said section lying West of
the centerline of Bishop Avenue, and except the West
194 . 4 feet of the North 1, 326 .4 feet of said section.
All of Section 21 Township 89 Range 12 except the
Southeast 1/ of the Southeast 1/ said section, and
except the East 332 feet of the South 693 feet of the
Southwest 1/ of the Southeast 1/ of said section, and
except that part of said Section 21 that lies East of
the West 4 of said section, North of the South % of
said section, and South of the South line of the Union
Pacific Railroad right-of-way.
That part of Section 15 Township 89 Range 12 as
follows :
Ordinance No. 4688
Page 5
All of the Southwest 1/ of the Southwest 14 of said
section, and also that part of the Southeast 1/ of the
Southwest 1/ lying Southerly of the South line of the
Union Pacific Railroad right-of-way.
Part of Section 22 Township 89 Range 12 as follows;
Beginning at the point of intersection of the North
line of said section and the East line of the
Northwest 1/ said section, thence South along the East
line of the Northeast quarter (NE %) of the Northwest
quarter (NW 1%) Section 22 , Township 89, Range 12 to a
point that is 680 feet South of the North line said
section, thence West along a line 680 feet normally
distant Southerly of section line approximately 1500'±,
thence North 40°01' 01" West 166 . 19 feet, thence North
15°32 ' 50" West 194 . 91 feet, thence North 02°34 ' 55"
West 174 .45 feet, thence North 32°18' 09" East 115 . 17
feet, thence North 57°10' 27" East 111 .27 feet to the
South line of the Union Pacific Railroad, thence South
70°11' 41" West along said South right-of-way line to a
point that is 264 . 54 feet Northeasterly of the West
line Section 22 , thence South 86°28' 27" East 190 .29
feet, thence South 73°13 ' 02" East 119 . 21 feet, thence
South 61°04 ' 21" East 154 . 14 feet, thence South
40°08' 51" East 145 . 09 feet, thence South 24°47' 31"
East 141 . 92 feet, thence South 9°45' 15" East 287 . 51
feet, thence South 0°06' West 261 .27 feet, thence
South 14°18" West 256 . 24 feet, thence South 65 . 02
feet, thence West 766 feet to the East line of North
Elk Run Road, thence South 70 feet along said right-
of-way, thence East 391 feet, thence South 60 feet,
thence East 130 feet, thence South 60 feet, thence
East 165 feet, thence South 0°07' 14" East 777 . 35 feet,
thence South 81°02 ' 06" West 255 . 19 feet, thence South
94 . 32 feet to the South line of the Northwest quarter
(NW %) said section, thence West along said South line
to the centerline of North Elk Run Road, which is also
a point on the West line Section 22 , Township 89,
Range 12 , thence North along said West line to the
Northwest corner of said section, thence East along
the North line of said Section to the point of
beginning, all in the City of Waterloo, Black Hawk
County, Iowa.
Section 2 : The taxes levied on the taxable property in the
Amended Project Area, legally described in Section 1 hereof, by
and for the benefit of the State of Iowa, City of Waterloo,
County of Black Hawk, Waterloo 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 3 : As to the Original Project Area, 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
taxing property in the Original Project Area upon the total sum
of the assessed value of the taxable property in the Original
Ordinance No. 4688
Page 6
Project Area as shown on the assessment roll as of January 1,
1993 , being the first day of the calendar year preceding the
effective date of Ordinance No. 3425, 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. The taxes so determined shall be
referred herein as the "base period taxes" for such area.
As to Amendment No. 1 Area, base period taxes shall be
computed in the same manner using the total assessed value shown
on the assessment roll as of January 1, 2004 , being the
assessment roll applicable to property in such area as of
January 1 of the calendar year preceding the effective date of
this Ordinance.
Section 4 : That portion of the taxes each year in excess
of the base period taxes for the Amended Project Area,
determined for each sub-area thereof as provided in section 3 of
this Ordinance, shall be allocated to and when collected be paid
into the special tax increment fund previously established by
the City of Waterloo to pay the principal of and interest on
loans, monies advanced to, or indebtedness, whether funded,
refunded, assumed or otherwise, including bonds issued under
authority of Section 403 . 9 or Section 403 . 12 of the Code of
Iowa, incurred by the City of Waterloo, Iowa to finance or
refinance, in whole or in part, urban renewal projects
undertaken within the Amended Project Area pursuant to the Urban
Renewal Plan, as amended, except that taxes for the payment of
bonds and interest of each taxing district shall be collected
against all taxable property within the Amended Project Area
without any limitation as hereinabove provided.
Section 5 : Unless or until the total assessed valuation of
the taxable property in the areas of the Amended Project Area
exceeds the total assessed value of the taxable property in said
areas shown by the assessment rolls referred to in Section 3 of
this Ordinance, all of the taxes levied and collected upon the
taxable property in the Amended Project Area shall be paid into
the funds for the respective taxing districts as taxes by or for
the taxing districts in the same manner as all other property
taxes .
Section 6 : At such time as the loans, monies advanced,
bonds and interest thereon and indebtedness of the City of
Waterloo referred to in Section 4 hereof have been paid, all
monies thereafter received from taxes upon the taxable property
in the Amended Project Area shall be paid into the funds for the
respective taxing districts in the same manner as taxes on all
other property.
Section 7 : 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 continue the division of taxes from
property within the Original Project Area under the provisions
of Section 403 . 19 of the Code of Iowa, as authorized in
Ordinance No. 4688 , and to fully implement the provisions of
Section 403 . 19 of the Code of Iowa with respect to the division
Ordinance No. 4688
Page 7
of taxes from property within the Amendment No. 1 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
Amended Project Area and the territory contained therein.
Section 8 : This Ordinance shall be in effect after its
final passage, approval and publication as provided by law.
INTRODUCED: April 26, 2004
PASSED 1st CONSIDERATION: April 26, 2004
PASSED 2nd CONSIDERATION: April 26, 2004
PASSED 3rd CONSIDERATION: April 26, 2004
PASSED AND ADOPTED by the City Council of the City of
Waterloo, Iowa, on the 26th day of April, 2004, and approved by the
Mayor on the 28th day of April, 2004 .
Tim Hurley, Ma r
ATTEST:
SL:t—
Nancy Eckert 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. 4688, as passed and adopted by the Council of the
City of Waterloo, Iowa, on the 26th day of April, 2004 .
Witness my hand and seal of office this 28th day of April,
2004 .
AU L.-
SEAL Nancy Ecke ig, City Clerk