ORDINANCE NO. 589

AN ORDINANCE PROVIDING FOR THE DIVISION OF TAXES LEVIED ON TAXABLE PROPERTY IN THE 2000 ADDITION TO THE HAWARDEN URBAN RENEWAL AREA A, PURSUANT TO SECTION 403.19 OF THE CODE OF IOWA

WHEREAS, the City Council enacted an ordinance entitled “An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the Hawarden Urban Renewal Area A of the City of Hawarden, Iowa, Pursuant to Section 403.19 of the Code of Iowa”; and

WHEREAS, pursuant to that ordinance, the Hawarden Urban Renewal Area A in the City of Hawarden was designated a “tax increment area”; and

WHEREAS, the City Council now desires to increase the size of the “tax increment area” by adding additional property;

BE IT ENACTED by the Council of the City of Hawarden, Iowa:

Section 1. Purpose. The purpose of this ordinance is to provide for the division of taxes levied on the taxable property in the 2000 Addition to the Hawarden Urban Renewal Area A of the City of Hawarden, Iowa, each year by and for the benefit of the state, city, county, school districts or other taxing districts after the effective date of this ordinance in order to create a special fund to pay the principal of and interest on loans, moneys advanced to or indebtedness, including bonds proposed to be issued by the City of Hawarden to finance projects in the such area.

Section 2. Definitions. For use within this ordinance the following terms shall have the following meanings:

EXHIBIT A - LEGAL DESCRIPTION

Beginning at the intersection of the centerline of South Second Street (460th Street) and Avenue D (Birch Avenue), thence commencing east along South Second Street (460th Street) to the Avenue L centerline; thence commencing northward along Avenue L centerline to Dakota & Iowa Railroad (east-west Beresford line); thence commencing east along the D & I railroad tracks centerline until what was previously known as Avenue O centerline; thence north along what was previously known as Avenue O centerline to the Eighth Street centerline; thence west along 8th Street centerline to Avenue I centerline; thence north along Avenue I centerline to Highway 10 centerline (10th Street centerline); thence west along Highway 10 centerline (10th Street) to Central Avenue centerline; thence north along Central Avenue centerline to the centerline of 11th Street; thence west along the centerline of 11th Street to the centerline of Avenue E; thence south along the centerline of the east centerline to the centerline of the

Section 3. Provisions for Division of Taxes Levied on Taxable Property in the Urban Renewal Area Amendment. After the effective date of this ordinance, the taxes levied on the taxable property in the Urban Renewal Area Amendment each year by and for the benefit of the State of Iowa, the City, the County and any school district or other taxing district in which the Urban Renewal Area Amendment is located, shall be divided as follows:

(a) That portion of the taxes which would be produced by the rate at which the tax is levied each year by or for each of the taxing districts upon the total sum of the assessed value of the taxable property in the Urban Renewal Area Amendment, as shown on the assessment roll as of January 1 of the calendar year preceding the first calendar year in which the City certifies to the County Auditor the amount of loans, advances, indebtedness, or bonds payable from the special fund referred to in paragraph (b) below, shall be allocated to and when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all other property taxes are paid. For the purpose of allocating taxes levied by or for any taxing district which did not include the territory in the Urban Renewal Area Amendment on the effective date of this ordinance, but to which the territory has been annexed or otherwise included after the effective date, the assessment roll applicable to property in t
(b) That portion of the taxes each year in excess of such amounts shall be allocated to and when collected be paid into a special fund of the City to pay the principal of and interest on loans, moneys advanced to or indebtedness, whether funded, refunded, assumed or otherwise, including bonds issued under the authority of Section 403.9(1), of the Code of Iowa, incurred by the City to finance or refinance, in whole or in part, projects in the Urban Renewal Area Amendment, except that taxes for the payment of bonds and interest of each taxing district shall be collected against all taxable property within the taxing district without limitation by the provisions of this ordinance. Unless and until the total assessed valuation of the taxable property in the Urban Renewal Area Amendment exceeds the total assessed value of the taxable property in such area as shown by the assessment roll referred to in subsection (a) of this section, all of the taxes levied and collected upon the taxable property in the Urban Renewal
(c) The portion of taxes mentioned in subsection (b) of this section and the special fund into which that portion shall be paid may be irrevocably pledged by the City for the payment of the principal and interest on loans, advances, bonds issued under the authority of Section 403.9(1) of the Code of Iowa, or indebtedness incurred by the City to finance or refinance in whole or in part projects in the Urban Renewal Area Amendment.
(d) As used in this section, the word “taxes” includes, but is not limited to, all levies on an ad valorem basis upon land or real property.

Section 4. Repealer. All ordinances or parts of ordinances in conflict with the provisions of this ordinance are hereby repealed.

Section 5. Saving Clause. If any section, provision, or part of this ordinance shall be adjudged invalid or unconstitutional, such adjudication shall not affect the validity of the ordinance as a whole or any section, provision or part thereof not adjudged invalid or unconstitutional

Section 6. Effective Date. This ordinance shall be effective after its final passage, approval and publication as provided by law.

Passed and approved by the Council of the City of Hawarden, Iowa, on the 18th day of December, 2000.

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Ricard R. Porter, Mayor

ATTEST:

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Craig M. Coffey, City Administrator