HomeMy WebLinkAbout2003-682-10.06.2003 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2003-682
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"
Project Designation: Martin Road Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Date of Description of Cumulative
No. Issuance or Source Indebtedness Amount
Expenditure
AMOUNT INCURRED
Recording Fees FY 1998-1999 Principal $464.50 G.O.Bonds $464.50
Design&Construction
Engineering FY 1997-2001 Principal $20,328.07 G.O.Bonds $20,792.57
Construction of Road&
Sewer Financing FY 1999-2001 Principal $165,433.36 G.O.Bonds $186,225.93
FY 1998-2000 Interest $148,170.24 G.O.Bonds $334,396.17
EXHIBIT "B"
Project Designation: Martin Road Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
Amount Received from
Payments under
No. Year Received Section 402.12(2) Cumulative Amount
1 FY 1997 $0.00 $0.00
2 FY 1998 $0.00 $0.00
3 FY 1999 _ $3,573.00 $3,573.00
4 FY 2000 $7,314.98 $10,887.98
5 FY 2001 $76,616.52 $87,504.50
6 FY 2002 $60,214.96 $147,719.46
7 FY 2003 $67,780.85 $215,500.31
8 FY 2004* $70,000.00 $285,500.31
*Estimated
Ftion 2003-682
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