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Home My Public Portal AboutOrdinances-2014-357 it 1 • C DORSEY DORSEY & WHITNEY LLP Page 1 MINUTES PROVIDING FOR PASSAGE OF AN ORDINANCE ESTABLISHING A TAX INCREMENT FINANCING DISTRICT FOR THE 2014 ADDITION TO THE TIFFIN URBAN RENEWAL AREA 436989-10 Tiffin, Iowa June 11, 2014 The City Council of the City of Tiffin, Iowa, met on June 11, 2014, at 7:00 p.m., at the Tiffin City Hall in the City. The Mayor presided and the roll was called showing members present and absent, as follows: Present: Kahler, Ryan, Bartels, Upton Absent: Petersen Er . Council Member Bartels introduced an ordinance entitled "Ordinance No. 2014-357. An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the 2014 Addition to the Tiffin Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa." It was moved by Council Member Bartels and seconded by Council Member Upton that the ordinance be adopted. The Mayor put the question on the motion and the roll being called, the following named Council Members voted: Ayes: Kahler, Ryan, Bartels, Upton Nays: none Absent: Petersen Whereupon, the Mayor declared the motion duly carried and declared that the ordinance had been given its initial consideration. It was moved by Council Member Baffles and seconded by Council Member Upton that the statutory rule requiring an ordinance to be considered and voted on for passage at two Council meetings prior to the meeting at which it is to be finally passed be suspended. The Mayor put the question on the motion and the roll being called, the following named Council Members voted: DORSEY&WHITNEY LLP • i r HORSEY DORSEY & WHITNEY LLP Page 2 Ayes: Upton, Bartles, Kahler, Ryan. Nays: NONE. Absent: Petersen. Whereupon, the Mayor declared the motion duly carried. It was moved by Council Member Ryan and seconded by Council Member Petersen that the ordinance entitled "Ordinance No. 2014-357. An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the 2014 Addition to the Tiffin Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa," now be put upon its final consideration and adoption. The Mayor put the question on the final consideration and adoption of the ordinance and the roll being called, the following named Council Members voted: Ayes: Baffles, Petersen, Ryan, Kahler Nays: None. Absent: Upton. Whereupon, the Mayor declared the motion duly carried and the ordinance duly adopted, as follows: DORSEY&WHITNEY LLP C bORSEY DORSEY & WHITNEY LLP Page 3 ORDINANCE NO. 2014-357 An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the 2014 Addition to the Tiffin Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa • WHEREAS, the City Council of the City of Tiffin, Iowa (the "City") previously enacted an.ordinance entitled "An Ordinance Providing For The Division Of Taxes Levied On Taxable Property In The Tiffin Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa"; and WHEREAS, pursuant to that ordinance, certain taxable property within the Tiffin Urban Renewal Area in the City was designated a"tax increment district"; and WHEREAS, the City Council now desire to increase the size of the."tax increment district" by adding additional property; BE IT ENACTED by the Council of the City of Tiffin, Iowa: Section 1. Purpose. The purpose of this ordinance is to provide for the division of taxes levied on the taxable'property in the 2014 Addition to the Tiffin Urban Renewal Area of the City of Tiffin, 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 Tiffin to finance projects in such area. Section 2. Definitions. For use within this ordinance the following terms shall have the following meanings: "City" shall mean the City of Tiffin, Iowa. "County" shall mean Johnson County, Iowa. "2014 Urban Renewal Area Addition" shall mean the Tiffin Urban Renewal Area of the City of Tiffin, Iowa, the legal description of which is set out below: Certain real property situated at 403 Deer View Avenue in the City of Tiffin, County of Johnson,.State of Iowa, bearing Johnson County Property Tax Parcel Identification Number 062832001. "Urban Renewal Area" shall mean the entirety of the Tiffin Urban Renewal Area as amended from time to time. Section 3. Provisions for Division of Taxes Levied on Taxable Property in the 2014 Urban Renewal Area Addition. After the effective date of this ordinance, the taxes levied on the DORSEY&WHITNEY LLP HORSEY DORSEY & WHITNEY LLP Page 4 taxable property in the 2014 Urban Renewal Area Addition 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 2014 Urban Renewal Area Addition 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 2014 Urban Renewal Area Addition, 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 2014 Urban Renewal Area Addition on the effective date of this ordinance, but to which the territory has been annexed or otherwise included after the effective date, the 'as'sessment roll applicable to property in the annexed territory as of January 1 of the calendar year preceding the effective date of the ordinance which amends the plan for the 2014 Urban JZenewal Area Addition to include the annexed-area, shall be used in determining the assessed valuation of the taxable property in the annexed area. (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 , and to provide assistance for low and moderate-income family housing as provided in Section 403.22, except that taxes for the regular and voter-approved physical plant and equipment levy of a school district imposed pursuant to Section 298.2 of the Code of Iowa, taxes for the instructional support program levy of a school district imposed pursuant to Section 257.19 of the Code of Iowa and 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 2014 Urban Renewal Area Addition 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 2014 Urban Renewal Area Addition shall be paid into the funds for the respective taxing districts as taxes by or for said taxing districts in the same manner as all other property taxes. When such loans, advances, indebtedness, and bonds, if any, and interest thereon, have been paid, all money thereafter received from taxes upon the taxable property in the 2014 Urban Renewal Area Addition shall be paid into the funds for the respective taxing districts in the same manner as taxes on all other property. (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 DORSEY'&WHITNEY LLP C HORSEY DORSEY & WHITNEY LLP Page 5 ■ 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. (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 conflici.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. „ .} z, Passed by the Council of the City of Tiffin, Iowa, the 1 Ith day of June, 2014. a Mayor Attest: .414: e4s1A.P. City Fr.- DORSEY&WHITNEY LLP : HORSEY DORSEY & WHITNEY LLP Page 6 There being no further business to come before the meeting;°it was upon motion adjourned. Mayor Attest: 1(4401/141111" City • , • DORSEY&WHITNEY LLP HORSEY DORSEY & WHITNEY LLP Page 7 STATE OF IOWA SS: COUNTY OF JOHNSON I, the undersigned, County Auditor of Johnson County,•in the State of Iowa, do hereby certify that on the day of , 2014, the City Clerk of the City of Tiffin, Iowa, filed in my office a copy of an ordinance of such City shown to have been adopted by the Council and approved by the Mayor thereof on the 11th day of June, 2014, entitled: "Ordinance No. 2014-357. An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the 2014 Addition to the Tiffin Urban Renewal Area, Pursuant to Section 403A9 of the Code of Iowa", and that I have duly placed a copy of the ordinance on file in my records. WITNESS MYIHAND this day of , 2014. County Auditor DORSEY&WHITNEY LLP : (DORSEY DORSEY & WHITNEY LLP Page 8 STATE OF IOWA COUNTY OF JOHNSON SS: CITY OF TIFFIN I, the undersigned, City Clerk of the City of Tiffin, State of Iowa, do hereby certify that..I caused to be published "Ordinance No. 2014-357. An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the 2014. Addition to the Tiffin Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa," of which the printed slip attached to the publisher's original affidavit hereto attached is a true and complete copy, on the date and in the newspaper specified in such affidavit, and that such newspaper has a general circulation in said City. WITNESS MY HAND this day of , 2014. City Cle k A#r DORSEY&WHITNEY LLP C HORSEY DORSEY & WHITNEY LLP Page 9 STATE OF IOWA COUNTY OF JOHNSON SS: CITY OF TIFFIN I, the undersigned, City Clerk of the City of Tiffin, State of Iowa, do hereby certify that the attached is a true, correct and complete copy of all the records of the Council of such City relating to the adoption of an ordinance entitled "Ordinance No. 2014-357. An Ordinance Providing for the Division of Taxes Levied on Taxable Property in the 2014 Addition to the Tiffin Urban Renewal Area, Pursuant to Section 403.19 of the Code of Iowa." WITNESS MY HAND this day of , 2014. City lerk DORSEY&WHITNEY LLP