HomeMy WebLinkAbout2006-994-11/13/2006 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2006-994
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
basis. County Auditor on a yearly
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 30,2006
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 Cumulative
or Expenditure
Indebtedness Amount
Amount Incurred
Land Acquisition 6/1/2004 Princi al $52;545.25 Contract $522,545.2Mis5
Interest $106,312.75 Contract $628,858.00
Improvements FY2002 Bonds Princi al $19,598.08 G.O. Bonds $648,456.0
Interest $6,945.64 G.O. Bonds $655,401.7
Hy Vee Lease FY2005 Prix�c. al $90,000.00 G.O. Bonds $745,401.7
Interest $31,320.00 G.O. Bonds $776,721.7
Hy Vee Lease& d 406 P
Fund al
Miscellaneous $50,000.00 G.O. Bonds $826,721.7
.Improvements Taxable
Interest $25,656.82 G.O. Bonds $852,378.54
Exhibit`B"
June 30,2006
Project Designation: Lo& Avenue Tax Increment Redevelopment Area
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403-19(2
Amount Received from
Payments under Section
No. Year Received 402,1
Cumulative Amount
1 FY2005 $0.00
2 FY2006 $0'
$0.00 $0.0
3 FY2007* $40,000.00
$40,000.0
'C T
9tQ.,solution No. 2006-994
2
elated
x PASSED AND ADOPTED this 13th day of November, 2006.
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— Tim Hurley, Ma or
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icy Eckert CMC
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