HomeMy WebLinkAbout2008-1064-12/1/2008 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2008-1064
RESOLUTION AUTHORIZING CERTIFICATION TO THE
COUNTY AUDITOR THE CITY' S EXPENDITURES THAT
QUALIFY FOR REIMBURSEMENT FROM THE TAX
INCREMENT FUND.
WHEREAS, the Code of Iowa allows the City to collect taxes
within a certain geographical district to be deposited in a "Tax
Increment Financing Fund", and
WHEREAS, certification of the City' s expenditures within
said district must be made to the County Auditor on a yearly
basis .
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE COUNCIL OF THE
CITY OF WATERLOO, IOWA, that the City Clerk be instructed to
certify to the County Auditor all expenditures of the City that
qualify for reimbursement from the Tax Increment Fund as
indicated below:
Exhibit "A
June 30, 2008
Project Designation: Logan Avenue Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Date of Issuance Source Description of Indebtedness Cumulative
or Expenditure Amount
AMOUNT INCURRED
Land Acquisition 6/1/2004 Principal $522,545.25 Contract $522,545.25
Interest $122,659.86 $645,205.11
Misc. FY 2002 Bonds Princi al $19,598.08 2002 GO Bonds $664,803.19
Improvements Interest $6,945.64 $671,748.83
Hy Vee Lease FY 2005 Principal $90,000.00 2005 GO Bonds $761,748.83
Interest $31,320.00 $793,068.83
Hy Vee Lease & Principal $50,000.00 $843,068.83
Misc. Fund 406 taxable 2006 GO Bonds
Improvements Interest '$25,656.82 $868,725.65
Logan TIF Fund 414 taxable Princi al $40,000.00 2004 GO Bonds $908,725.65
Improvements Interest $17,236.02 $925,961.67
Logan TIF Fund 407 taxable Principal $50,000.00 2007 GO Bonds $975,961.67
Improvements
Interest $17,728.00 $993,689.67
Logan TIF Fund 408 taxable Principal $75,000.00 2007 GO Bonds $1,068,689.67
Improvements Interest $23,750.00 $1,092,439.67
Chamberlain Fund 413 Tax Principal $41,466.93 2007 GO Bonds $1,133,906.60
Redevelopment Exempt Interest $10,856.00 $1,144,762.60
Re-solution No. 2008-1069
=Page 2
o - H
sNs
n
'< Exhibit "B"
x June 30,2008
oss
- Project Designation: Logan Avenue Increment Redevelopment
N H r' Schedule 2
N H
s s Indebtedness Qualifying for Tax Increment Reimbursement
ti Under Section 3.19(2)
s
No. Year Received Amount Received Other Revenue Cumulative Amount
s 1 FY2005 $0.00 $0.00 $0.0
0 2 FY2006 $0.00 $0.00 $0.0
c - 3 FY2007 $45,666.481 $0.00 $45,666.48
°C - ' 4 FY2008 $146,296.25 $1,481.70 $193,444.43
T
5 FY2009* $145,000.00L $0.00 $338,444.43
_* Estimated
c _
PASSED AND ADOPTED this 1St day of December, 2008 .
s :
= Tim Hurley, Mayor
g�F'TEST:
t;
Nancy EckercV, CMC
City Clerk