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Home My WebLink About3912-12/28/1992ORDINANCE NO. 3912 AN ORDINANCE PROVIDING THAT GENERAL PROPERTY TAXES LEVIED AND COLLECTED EACH YEAR ON ALL PROPERTY LOCATED WITHIN THE AIRPORT MULTI- MODAL PARK DEVELOPMENT AREA, IN 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 SAID URBAN RENEWAL REDEVELOPMENT PROJECT AND RESCINDING ORDINANCE NO. 3884 IN ITS ENTIRETY. WHEREAS, the City Council of the City of Waterloo, after public notice and hearing as prescribed by law and pursuant to Resolution No. 1992-717 passed and approved on the 28th day of December, 1992, adopted an urban renewal plan for an urban renewal area known as the Airport Multi -Modal Park Development Plan, which project area includes the lots and parcels within the boundaries described as follows: BEGINNING AT THE INTERSECTION OF THE NORTHERLY RIGHT-OF-WAY LINE OF IOWA HIGHWAY 57 AND THE CENTERLINE OF WAGNER RD.; THENCE NORTHWESTERLY ALONG THE NORTHERLY RIGHT-OF-WAY LINE OF IOWA HIGHWAY 57 TO A POINT WHICH IS 330 FEET NORMALLY DISTANT EAST OF THE CENTERLINE OF AIRPORT BOULEVARD; THENCE NORTH 125 FEET; THENCE EAST 253.76 FEET; THENCE NORTH TO THE CENTERLINE OF AIRLINE HIGHWAY; THENCE EASTERLY ALONG SAID CENTERLINE 1223 FEET; THENCE NORTH TO THE CENTERLINE OF THE ILLINOIS CENTRAL GULF RAILROAD; THENCE NORTHWESTERLY ALONG THE ILLINOIS CENTRAL GULF RAILROAD 200 FEET; THENCE NORTH 360 FEET; THENCE EAST TO THE CENTERLINE OF WAGNER ROAD; THENCE SOUTHERLY ALONG SAID CENTERLINE TO THE CENTERLINE OF AIRLINE HIGHWAY; THENCE WESTERLY ALONG SAID CENTERLINE TO THE CENTERLINE OF THE ILLINOIS CENTRAL GULF RAILROAD; THENCE SOUTHEASTERLY ALONG THE CENTERLINE OF THE ILLINOIS CENTRAL GULF RAILROAD TO THE CENTERLINE OF WAGNER ROAD; THENCE SOUTHERLY ALONG THE CENTERLINE OF WAGNER ROAD TO THE POINT OF BEGINNING, ALL IN THE CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA; WHEREAS, expenditures and indebtedness are anticipated to be incurred by the City of Waterloo, Iowa in the future to finance said urban renewal project; and WHEREAS, the City Council of the City of Waterloo, Iowa desires to provide for the division of revenue from taxation in the urban renewal project area, as above-described, in accordance with the provisions of Section 403.19 of the Code of Iowa, as amended. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA: Section 1. That the taxes levied on the taxable property in the urban renewal project area known as the Airport Multi - Modal Park Development Plan, as legally described in the preamble 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 2. 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 said Airport Multi -Modal Park Development Plan area upon the total sum of the assessed value on the assessment roll of January 1, 1991, being the first day of the calendar year preceding the &re E .014 HOVIAMIGHO YT1aq0Aq JAREMaD TART DMIGIVORq aomAmiao MA JJA P10 RALIY HOA GHTDaJdOD GMA GEIVaj 2EXAT - ITJUM TROqRIA SHT VIHTIW GHTA00,1 YTRaq0Aq 70 YTID aHT MI AaRA T4aMq0JEVEG LIAGOM ,AWOI HO HTAT2 ,XWAH ZDAJE ao YTMUOD ,00JR2TAW AWOI ac aTAT2 aHT ac TIISMEE aHT Roa GMA Yff ,XWAH )LDAJa 70 YTMUOD ,00dRaTAW ao YTID RaHTO (IAA TDIRT2IG d0OHD2 YTIMUMMOD 00dRaTAW azua JAI=A OT GIAq aa ,ETDIET2IG DMIXAT MO T2=741 GMA JACIIDMIRq HO TMEMYAq RUH ,28214GaTaEGMI GMA OT Ga0MAVGA aaImom ,274A0J ,aauaai aa OT HO usuaai aaploa DMIGUdDMI GIA8 HTIW mormammoD MI YTID aiAa YE CISHRUDMI GMA TOHLORq TMEMOJEVEGag JAWEITHR MAEIRU .YTHAITME MIT_ MI 1188E .0T4 aDVIAMIGA0 DMIGMID2ER aeils ,00laeJEW ao yiiD edi lo lionuoD yiiD or ,2AER1HW oi insmalug bns wEl yd bedluoaeaq RE paiazed blas °Dijon lo yzb iii8 odi no bovoaqqs bas beaasq VIV-&2E1 .0P1 noiiuloaeR lEwenea azdau nE lot nElq IEwenoa andau as beiclobz ,Rees ,aedmeDeG doidw ,aEliaemcloloveG *is q SsboM-iiIuM iacquiA odd- RE nwomt BOUE eeianbnuod sift nidJiw aloomq bns Rio' edi asbuloni LOIS Jootoaq :awollol as bediabaeb YAW-HO-THDIR YdREHTROM aHT ao MOITOE2R2TMT {FIT TA Dmizzioaa ;.GA RaMDAW ao alcalsiaTmao HHT UMA V YAWHDIH AWOI -10 HMId HO HMIJ YAW-HO-THDIAYJRaHTROM HHT DMOJA, YJRaT22WHT51TOK 30M1HT TMAT2IG YLIJAMROK TiIT OE I BDIHW TMIOq A CT V YAWHDIH AWOI 2R1 HTROM aDMSHT ;curAvaJuoa TROgRIA HO aziimaTmao HHT HO TAa EMIJRSTMaD aHT OT HTROM aDmaHT .TaaH aV.E2&' TEA E aozaHT ;TSH ES:S1 amiaHaTmaD CIA2 DKOdA YdR2T2AS aDMEITT ;YAWHOIH HMIdRIA 10 JARTMED 2IOMILIJI HT 10 aMIdRaTMED aHT OT HTROM HOMaHT ;TaE7 JAHTLI3O2I0MILITLI3HTEMOJAYJRET22WFITR0MEDMaHT “IA051JIA1IJUD OT TA a aDMHHT Ta 06E HTROM EDMHHT ;Taaa CO GAORJIAR aLlua CIA 2 DMOJA Y11RaHTU02 a0M3HT ;GAOR RavIDAW 30 21,11,1RETM30 ahT aDOEHT ;YAWHDIH avniasIA 70 aMIJAHTVIED aHT UT allIJAaTMHO aHT 70 aMILIAFTMaD SHT OT aMIJARTMED aiAa DMOLIA YdRET2HW aHT DMOJA YdRaT2AEHTU02 aomaHT ;GAORJIAR aaup JAHTMaD 2I04TLIJI HHT DT GAORJIAR 7JUD JAaTviao I0MIJJI aHT ao amIJsaTzao HHT DMOJA :::151aHTIT02 SDVISHT ;GAOR HEMC,AW ao MI dJA ,Dmimmizaa 70 TVII0q. 2HT OT GAOR RaMDAW 70 amIJRaTmac ;AWOI ,YTMITOD XWAH XDALIE ,00JSETAW HO YTIO HHT od o boisq±D±ins euz aaenbeidebni bah aeauJibneqxo ,OAHRZHW epaznia (DJ eluiul orfi ni swol ,DolueJEW Io yiiD edi yd beam:Joni bris ;lootoaci lzweaoa nEdau bila swot ,ociaeJEW 10 yin od/ to lionuoO yiiD orb aAaRaHw orb ni noi/ExEJ moll elJnevea lo noiaivib oh/ aol ebivo-17, DJ aeuiaeb diiw oonzba000s ni ,bediaoaeb-ovodE as ,ESIE Joeoaci lEwenoa nzdqu .bobnorns as ,Bwoi ao oboD orb ao I,EO noiJoe2 to anoiaivoaq orb YTIO aHT 70 dIDT4U00 YTIO aHT ya GaMIAGRO TI aa ,aAcaaAaHT ,wom :AWOI ,00,15/HTAW ni yiueqoaq eldsxEi edi no beivel aexEJ orb JEdT .1 noiiDe2 -iiiuM JawaiA orfi as nwonA ESIE Joetoaci lEwenea aEdau orb odb ni bediaoaob yilEpoi as inslq inemcioleveG hsq IsboM ,zwoI lo eiEJ2 odi Io iilened orb uoI bns yd ,Iceled eidmEsaq yiinummoD oolasiEW (wEH ?[0.6i8 ao yinuoD ,00lleJEW t yiiD aeilE bns moi l aJoiaiaib pnixE/ ledio lis bns io±1ia loodD2 as bebivib ed !IEria eonsniba0 airb lo eizb °yid -poll° orb .bebivoug eonzniba0 aid ni aeiIEnioaod boouboaq ed bluow doidw aexEi orb lc noiuoq isriT .& noijoe2 uoI ao yd ahoy iss beivel ai xsi odi doidw in eiEu ed/ yd JabgaiA bise ni yilogoaq pnixEi aiDialaib pnixzi edi Io floss lo irw lzioi orb noqu BOUE nEici inemciolevoG Aazq isboM-iiluM „Leer i yasunEL to lIoi inemaaoaas oil/ no eulzv beaaeaaE od/ odb pnibeoelq asey asbnelzo edi lc ysb Jaail 9th i paled Ordinance No. 3912 Page 2 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. Section 3. That portion of the taxes each year in excess of the base period taxes determined as provided in Section 2 of this Ordinance shall be allocated to and when collected be paid into a special tax increment fund of the City of Waterloo, Iowa hereby established, to pay the principal of and the interest on loans, monies advanced to, indebtedness, whether funded, refunded, assumed or otherwise, including bonds or obligations issued under the authority of Section 403.9 and 403.12 of the Code of Iowa, as amended, incurred by the City of Waterloo, Iowa, to finance or refinance in whole or in part projects undertaken pursuant to the Airport Multi - Modal Park Development Plan, except that taxes for the payment of bonds and interest of each taxing district levying taxes on said project area shall be collected against all taxable property within the project area without any limitation as hereinabove provided. Section 4. All taxes levied and collected upon the taxable property in said Airport Multi -Modal Park Development Plan area shall be paid into the funds of the taxing districts as taxes by or for said taxing districts in the same manner as all other property taxes unless or until the total assessed valuation of the taxable property in said urban renewal project area shall exceed the total assessed value of the taxable property in said urban renewal project area on the date of adoption of this Ordinance. Section 5. At such time as the loans, monies advanced, bonds and interest thereon and indebtedness of the City of Waterloo hereinabove in Section 3 referred to have been paid, all monies thereafter received from taxes upon the taxable property in the Airport Multi -Modal Park Development Plan area shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. Section 6. 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 fully implement the provisions of Section 403.19 of the Code of Iowa, as amended, with respect to the division of taxes from property within the urban renewal project 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 involve the provisions of Section 403.19 of the Code of Iowa with reference to said urban renewal project and the territory herein. Section 7. This Ordinance shall be in effect after its final passage, approval and publication as provided by law. Section 8. That Ordinance No. 3884 be and the same hereby rescinded in its entirety due to an error in the legal description. INTRODUCED: PASSED 1ST CONSIDERATION: PASSED 2ND CONSIDERATION: PASSED 3RD CONSIDERATION: December 28, 1992 December 28, 1992 December 28, 1992 December 28, 1992 neE .o14 eonsniba0 9PF-45 bns od bodsooas 9d lisda ,sonsniba0 aidd ±o odsb ovidoelle pnixsd 9VijD9q291 edd aol hnul odd odni bisq 9d bed -polio° nodw doldw odni doiadaib pnixsd biz a aoI ao yd aoxsd asdoiadaib .bisq 91E E-9X.S.1 ydaoqoaq aoddo 116 to aaeoxs ni asoy A0B3 aexEd odd lo noidaoq dsdT E noidoe2 Io noidoe2 ni bobivoaq as benimaodeb asxsd boiaoq eaEd odd ed bodoelloo nedw bus ad bodsoolls sd lisda oonsmiba0 aidi lo ydiD end ao bnut Inemeaoni xEd isioeqa E °Jai bisq bns lo Isqioniaq oni ysq od ,bsdaildsdao ydousd swot ,00lloJEW ,aaonboddsbni ,od boonsvbs ao±nom ,ansol no .12919Jfli odd pnibuloni ,salwaedio ao bsmuaas ,bsbnutsa ,bobnul leddedw noido92 Io ydiaodJus odd asbnu bouaal anoijspildo ao abnod yd boaauoni ,bobnems as ,BWOI Io eboD odd lo i.EO bns elodw ni sonsniloa ao sonsnia (DJ ,swoI ,00lledsW to ydiD add -idluM JaociaiA odd oi insuaauq noAsdasbny adoetoaq Jasq ni ao dnomysq sd J -sod aexsj jzdi dgeoxe ,nsIg Jr19MC1019VOG AUBq isboM no aoxEd pniyvsi Joiadaib pnixsd xis to dasaedni cans abnod Io sidsxsd lin Janisps bodoolloo ed lisda 591L Jostoaq bisq as noldsdimil yes Juoddiw 591s dootoaq odd nidjiw ydaoqoaq .bebivoaq evodsnioaed sidsxsd odd noqu bodosiloo bns beivoi asKsJ liA noido92 nEig in0=1019V9U 1sboM1iiLrMJaociaiA bisq ni ydaeqoaq as aloiadaib pnixsd add lo abnul odd odni bisq od ilsda seas 26 lonnsm 9M.52 odd ni adoiadaib pnixsd bisq aoI ao yd aexsd bsaasaas Islod odd lidnu ao aasInu aexEd yJasqoaq asAdo ilh iswonsa nsdau biz a ydasqoaq oldsxsd edd to noidsuisv odd Ic eulsv boaaoaas Isdoi edj b000xe lisda 591B dostoaq odd no BOIS Jostoaq iswonoa nsdau bila ri ydaoqoaq oidsxsj .sonsniba0 aidd '10 noidclobs ao ,7):115ip abnod ,boonsvbs asinom ,ansoi add as smIJ doua jA .a noijosR oolledEW to ydiD add to aaenbeddebni bns nooaedd daoledni bias Ifs,bisq need sysrf od bolasIoa E noidoo8 ni svodsniousd sidsxsd cdi noqu aexsd motif bovisosa asdIssaodd aoinom 6916 n6i in9MC1019V5G AusIsboM-iiirMiduogaiA scid niydaoqoaq pnixsd evidoegasa odd 101 abnut edj oiri± bisq ed lisda .vdasqoaq aeddo ilB no asxsd as aonnsm omsa odd ni adciajalb Joillnoo ni asonsnibao to adasq ao aoonsnibao LEA .a noido92 .bolseqsa ydeasd 915 oonsniba0 aidd lo anoiaivoaq edj ddiw sd lisda bns bobnodni oas 9on6niba0 aidd to anoiaivoaq edT noidos2 lo anoiaivoaq odd jnemelqmi ylluI od as oa bouadanoo odd oj Joeciasa ddiw ,bobnoms as ,swoI Ic ebo) odd lo QLEO Iswensa nsdau edd nidJiw ydaoqoaq moll asxsd to noiaivib yns Isdd Jneve odj nI .evods bediloasb as 15915 dostoaq yasadnoo od od benimuedeb odlIsda sonsniba0 aidd Io noiaivoaq Io noidsoilqqs ao anoiaivoaq rfjo Joelts Jon lisda di ,wsi ad yliuI of bouldanoo ed aemij liz is lisda doidw eonsniba0 aidd swoI lo sboD odd Io el.Eo noidos2 to anoiaivoaq odd cviovni yaodiaaod ecu has dostoaq Iswenea nsdau bisa od soneaolea Adiw .nisaad Isnil adi Todds J -00a±9 ni ed lisda oonEniba0 a_triT .7 noilosa .wsl yd babivoaq as noklsoilduq bns Isvoaqqs ,opsaasq ydoaod 9M52 9di bns sd 188E .014. sonsniba0 JsdT .8 noidoo8 _Lapel edJ ni aolao ns od sub ydsaidne ni bobnioasa .noidgiaoaob ,8R ,8R .8R ,85 asdm000G aedm000G ledmooeG lodm000C :CEOUGCHTVII :MOITA5{aGI21400 T2I C922Aq :MOITAR3Ui2MOD CAR G2122A :VOTTAHHCl2MOD CHE aaaaAq Ordinance No. 3912 Page 3 i>1 1-11 IT, F-1 H HrD 0 PASSED AND ADOPTED by December, 1992, and approved December, 1992. H H o HO 0 4; H0 C -1 00 HHbI C) H ro 0) H 71E4 co k7' CC." ATTEST:m .."&" hi ( di/to Larry/P. Wirger / // C/ 71 o trt 71) the City Council this 28th day of by the Mayor Pro Tem this 30th day of r=1 0 Rose Angel, Mayor'- Pro Tem y Clerk/Auditor H)] CERTIFICATE I. Larry P. Burger, City Clerk/Auditor of the City of Waterloo, Iowa, do hereby certify that attached hereto is a true and complete copy of Ordinance No. 3912, as passed and adopted by the Council of the City of Waterloo, Iowa, on the 28th day of December, 1992. 1992. Witness my hand and seal of office this 30th day of December, u ger,75,1 ry Clerk/Auditor lo ysb din airfi lionvo0 yin e Io ysb di0E ai({i meT O aoysM crit 7dCHHt-, 1-3 >1 Q til ZJZZOC)>' >Hi-C>107J >i z 7zi rn w x i-3 1-3 1-3 0 X Ci H H C cn 171 Z Z 7J t' til cn 7:i Z z 7i t: -.L.- ›' 0 t -i 0 L7) t -i ti C > tl til 1-I -< CO1-11 0 11i 1-3 t I H HtrlIZ0 ttOtJZ C) Z Z 4") 0 ril H 0 ••• 7:/ < > trl G) tx1 t:1:1 ZZtrlo> 1-c tii H 1-3 1-3 01-3 ( o tii n O >, 0 tri70 ,-.1Z tii 1-3 0 U C.) 1=1 ril 0 z Er) o H pi w c til H • PZ1 H Crl >,, 1-3 Z 0 1-3 tii t/1 Z W meT oag loysIvI ,lopnA b, Ztilel ellt1)H0t3i1-CtitJtJ0 >1 t) H<Pi-• I-3til 0 < H 1-‹ zoni-i N) (-1<i---1 cr) z z to m tri 1-3 n m ct) o it -t.i 1-3 ti -E5' - t --i c til tii z o O I'd H • '4 Z 1-3 H l< t? n ›. m 1-11--a--- \ . CO 1-3 0 1-3 > Z 1-3 tt 1-3 OV til '''' 1-2 a o ' : CO Z 0 Z CI 0 H .-L. >1 •• til 1:7 cn td tii >4 > 0 - zi 11 to H HH0tri HTAora: onmHz 1>J cn - z 7c1 z Z H c_i 1-3 Z 1-3 cn H 0.1 E-3 hti • j til zriiHHtitil,-dcl>itrli-aoc7i lo yii0 attl 10 ao:fibi,rA \ i.-Is.E0 -,, n 0 ci) t:i til I-3 I-3 '9 'M Ell > H 1-3 Z Cn el tii n M tlf-> tt o.uai E a i oieaori bodosiis isrli yzi. 1-3 C Hat CAC1-1 '1',' > . LArr3 )±6W cntil. 1-3 3>,' Z 0 til C) '4 hd yd beicrob.s bis boaasq as ,S.NE .oI. z ,_, c)c) ti Fij H c 0 7z) bns 10 ysb din orb no , swoi , oo 1ao - tTi t:, '-3 ' Z 0 . '. " z L Z ri3 0 H<1-3 it -3 H > tt .09a H tr) c 1 0 H Cl) Cl) Z HO I C7Z1 >1 ". C7C11 > 2 ht LH ,ledme09a to ysb ni0E aini eoil10m H bns bLV ' -- 1-c , .seel oibA\i) 'L3,a0pa FORM 1 STATE OF IOWA, I SS I do solemnly swear that the annexed copy of Legal— City of Waterloo Rack Hawk County, 'aowas sIUJ asn o; iaplo>o sveati 81. ]seal le 2)q lsnw no/ sa)nllw 6 sl lie) 2Seiane all !alnuw lad 66! L$ si, xogl!ew ally) lsoo all lV110ad JP 1S i16L-9LL-006 leuosaad Apa!a1S IleD -a5nuw iad 66' Apo le enrol walse3 SSOJD woy aldoad So aipunq paw II noA iun j s,11 iopdo Suls\olq all; malas pue rnolaq lagwnu all IleD uagl 'a 111 no% sauo ay1 vt.ci pue launop all do uopas paylssep aye ul ape leuosvad ApoulS JOl Tool iAse3 5,11 Iy6lu ao Aep 'awpAue awoq urn) mnoA yo Aaenud ay7 wok Ileo UeD noA ilepuap3uoj s,al Ordinance Number 3912 leuosaad APla3S 'aouewoi mau e 152)&2 a� e apnpul pings lea& mau Ino& agAeW 1 in the Waterloo -Cedar Falls Courier, a daily newspaper printed in vk County, Iowa, once 12th day of January 19 93 in the issue of ary 12, 1993 nd that the annexed rate of advertising is the regular legal rate of that the following is a correct bill for publishing said notice. Printers Bill $ 64.12 Sign u scribed and sworn to before me this ILS. f h day of ✓vt,�C.G++V fi �r A. D., 19 u1i' K)a/1/141 �� Notary Public Received of the sum of Dollars in full for publication of the above notice.