HomeMy WebLinkAbout1999-780-11.15.1999 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry Street,
Waterloo, Iowa.
RESOLUTION NO. 1999-780
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:Airport Tax Increment Redevelopment Area
Schedule 1
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Date Of Issuance or Source Amount Description of Accrued Amount
Expenditure Indebtedness
incurred
MidPort Blvd. Principal $200,000.00 G.O.Bonds $262,000.00
FY 1997 Interest $62,000.00
G.O.Bonds
MidPort Blvd.&Rail Principal $250,000.00 G.O.Bonds $566,000.00
Improvements
Interest $ 54,000.00 G.O.Bonds
Fy 1998
Storm Sewer Principal $332,625.00 ADVANCE $984,303.22
FY 1998 Interest $85,678.22
Sanitary Sewer Principal $220,000.00 ADVANCE $ 1,260,971.27
FY 1998 Interest $56,668.05
City of Waterloo(AADA)FY Principal $270,000.00 ADVANCE $ 1,577,493.64
1997& 1998
Interest $46,522.37
Basic Materials(AADA)FY Principal $50,000.00 ADVANCE $ 1,811,954.65
1998
Interest $8,615.25
City of Cedar Falls(AADA)FY Principal $ 10,000.00 ADVANCE $ 1,823,677.70
1998
Interest $ 1,723.05
MIDPORT BLVD.RISE Principal $90,000.00 G.O.Bonds $ 1,954,477.40
PHASE 1 6/98
Interest $40,799.70
MIDPORT SIGNS 6/98 Principal $50,000.00 G.O.Bonds $2,027,143.90
Interest $22,665.50
Resolution 1999-780
Page 2
No. Date Of Issuance or Source Amount Description of Accrued Amount
Expenditure Indebtedness
incurred
MIDPORT BLVD.PHASE 2 Principal $300,000.00 G.O.Bonds $2,518,773.88
6/99
Interest $191,629.98
Waterloo Tent and Tarp 1999 Principal $4,535.93 ADVANCE $2,523,309.81
Advanced Heat Treat 1999 Principal $6,531.28 ADVANCE $2,529,841.09 J
EXHIBIT"B"
Project Designation: Airport Tax Increment Redevelopment
Schedule 2
Indebtedness Qualifying for Tax Increment Reimbursement
Under Section 403.19(2)
No. Year Amount Received from Payments under Sec.402.12(2) Cumulative Amount
Received
1 FY 1996 $0.00 $0.00
2 FY 1997 $0.00 $0.00
3 FY 1998 $0.00 $0.00
4 FY 1999 $0.00 $0.00
5 FY 2000 $220,000.00* $220,000.00*
*ESTIMATED
PASSED AND ADOPTED this 22nd day of November, 1999 .
J n R. ooff, Mayor
ATTEST:
Nancy Ecktct, City Clerk