HomeMy WebLinkAbout2001-645-11.19.2001 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2001-645
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)
NO. DATE OF SOURCE DESCRIPTION OF Cumulative
ISSUANCE OR INDEBTNESS Amount
EXPENDITURE
AMOUNT INCURRED
Recording FY 1998-1999 Principal $464.50 G.O. Bonds $908.00
Fees
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. Cumulative Amount
Received 402.12(2)
1 FY 1997 $0.00 $0.00
2 FY 1998 $0.00 $0.00
;Resolution 2001-645
;Page '2
F4 n
v 3 FY 1999 $3,573.00 $3,573.00
4 FY 2000 $7,314.98
$10,887.98
o s , 5 FY 2001 $76,616.52 $87,504.50
6 FY 2002 $53,000.00
$140,504.50
c,, *-Estimated
o
C? H a
El- Co
E
v F5, x PASSED AND ADOPTED this 19th day of November, 2001 .
O
S C7
HE-+
0 Cr
Joh R. off, May
ATTEST:
L-41,414- (t/C cA .
Nancy E rt, City Clerk