HomeMy WebLinkAbout2002-679-11.18.2002 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2002-679
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
NO. ISSUANCE OR SOURCE DESCRIPTION OF Cumulative
EXPENDITURE INDEBTNESS Amount
AMOUNT INCURRED
Recording Fees FY 1998-1999 Principal $464.50 G. O. Bonds $908.00
Design& FY 1997-2001 Principal $20,328.07 G.O. Bonds $20,792.57
Construction
Engineering
Construction FY 1999-2001 Principal $165,433.36 G. O. Bonds $186,225.93
of Road&
Sewer
Financing 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)
No. Year Amount Received from Payments under Sec.
Received 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
LC6Repo1otion 2002-679
Pi#44
r.=.1
5 0 Q HY 2001 $76,616.52 $87,504.50
6 FY 2002 $60,214.96 $147,719.46
7 FY 2003 $70,418.00* $218,137.46*
*,-Estimated
• <
1-, PASSED AND ADOPTED this 1 8th day of November, 2002 .
o ry,
77,
(A
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co John R. oof f, Mayor
's.ATTEST:
Nancy EclØrt, City Clerk