HomeMy WebLinkAbout2005-1027-11.14.2005 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2005-1027
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 30,2005
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 6/1/04 Principal $522,545.25 Contract $522,545.25
Interest $106,312.75 Contract $628,858.00
Misc. Improvements FY 2002 Bonds Principal $19,598.08 G.O. Bonds $648,456.08
Interest $6,945.64_ G.O. Bonds $655,401.72
Hy-Vee Lease FY 2005 Principal $90,000.00 G.O. Bonds $745,401.72
Interest $31,320.00 G.O. Bonds $776,721.72
Exhibit"B"
June 30,2005
Project Designation: Logan Avenue Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received from
Payments under Section
No. Year Received 402.12(2) Cumulative Amount_
1 •
FY 200c $0.00 $0.00
:Resolution No. 2005-1027
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7-, 2 FY 2006* $0.00 $0.00
3 FY 2007* $34,000.00 $34,000.00
4 FY 2008* $130,000.00 $164,000.00
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PASSED AND ADOPTED this 14th day of November, 2005 .
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