HomeMy WebLinkAbout2000-632-11.20.2000 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street,
Waterloo, Iowa.
RESOLUTION NO. 2000-632
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: San Marnan Tax Increment Development Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Date Of Source Description of Indebtedness Accrued Amount
Issuance or
Expenditure
AMOUNT INCURRED
Land Acquisition Principal $ 548, 856. 00 Contract $ 548, 856. 00
FY 1999 Interest $ 65, 062 . 00 debt $ 65, 062. 00
Road Principal $ 89, 859. 11 G. 0. Bonds $ 638, 715. 11
FY 1999 Interest $25, 286. 00 $ 90, 348 . 00
Sanitary Sewer Principal $ 29, 926. 00 Advance $ 668, 641 . 11
FY 1999
Water Main Principal $ 26, 592 . 56 Advance $ 695, 233. 67
FY 1999
GMAC Tax Rebates Principal $ 351, 000 TIF Rebate
$ 1, 046, 233. 67
Resolution 2000-632
Page 2
EXHIBIT "B"
Project Designation: San Marnan Tax Increment Development Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Amount Received from Payments under Sec. Cumulative
Received 402.12 (2) Amount
1 FY 1997 $ 0 . 00 $ 0 . 00
2 FY 1998 $ 0. 00 $ 0. 00
3 FY 1999 $ 0. 00 $ 0. 00
4 FY 2000 $ 0 . 00 $ 0. 00
5 FY 2001 $ 0 . 00* $ 0. 00*
* - Estimated
PASSED AND ADOPTED this 20th day of November, 2000 .
a
ohn oo f, ayor
ATTEST:
Nancy Ec rt, City Clerk