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Home My Public Portal AboutOrdinances-2003-263 ORDINANCE NO. 2003-263 at a k. $ ) L. AN ORDINANCE PROVIDING FOR THE DIVISION OF TAXES LEVIED ON TAXABLE PROPERTY IN THE,2003 ADDITION TO THE TIFFIN URBAN RENEWAL'AREA, PURSUANT TO SECTION 403.19 OF THE CODE OF IOWA WHEREAS, Ordinance No.1993-180 entitled "An Ordinance Providing for the Division of Taxes levied on taxable Property In The Tiffin Urban Renewal Area of the City of Tiffin, Iowa, Pursuant to Section 403.19 of the Code of Iowa: was enacted by the Council of the City of Tiffin, Iowa an the 13th day of October, 1993; and WHEREAS, pursuant to Ordinance No.1993-180 the Tiffin Urban Renewal Area in the City of Tiffin was designated a "tax increment area"; and WHEREAS, the City Council now desires to increase the size of the "tax •increment area" designated by Ordinance 1993-180 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 2003 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 the County of Johnson, Iowa. "Urban Renewal Area" shall mean the 2003 Addition to the Tiffin Urban Renewal Area of the City of Tiffin, Iowa, the boundaries of which are set out below, approved by the City Council by resolution adopted on the 12th day of March, 2003; • Ordinance No. 2003-263 Page 2 tnt 1,4.• ete, '44s- hao . v"-- 't2k t a hind ri MEI', 0, 2003 Amendment to 1993 eTrbarivinewcil Ptah (T.I.F. District) # t A • 1. All that part of the .Southwest '/4 of the Southwest Va of Section-27- '80-7 lying South of the Railroad right of way. 2. All that part of North 1/2 of the Southwest 'A of Section 27-80-7 • lying South of the Highway #6 right of way,_ Also all that part of the South 1/2 of the Southwest 1/4 of Section 27-80-7 lying North-of the Railroad right of way. 3.. All that part of the Southeast V4 of Section 27-80-7 that lies West . • of the centerline of the right of way of Interstate 380 and South of the-Southerlyright of way of Highway #6 and North of the Northerly.line of the Railroad-right of way. 4. All of the Highway #6 right of way that lies within the Southwest- 1/4 of Section 27-80-7. 5. All of the Highway #6 right of way that lies within the Southeast ,A • of Section 27-80-7 that lies Westerly of the center of the Intetstate 380 right Of'way. 6. All of the Highway #6 right of way thai lies within the Southeast 'A of Section'28-80-7 lying Easterly of Reeve's Addition Part One to the City of Tiffin. 7. All of the Railroad right of way lying within the Southwest 'A of Section 27-80-7 and the Southeast 1/4 of the Southeast 'A of Section 28-80-7. 8. All of the landlying within the Solitheast 1/4 of Section 28-80-7 lying South of Highway #6, North of the railroad right of way and East of Tiffin East Subdivision to Tiffin, Iowa. 4 444. • Ordinance No. 2003-263 Page 3 Section 3. Provisions for Division of Taxes Levied on Taxable Property in the Urban Renewal Area. After the effective date of this ordinance, the taxes levied on the taxable property in the Urban Renewal Area 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 is located, shall be divided as follows: (a) that portion of the taxes which would be produced by the rate at which theetax 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. 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 A-r bonds payable from the special fund referred to in paragraph (B) below,.shall be allocated to wand when collected be paid into the fund for the respective taxing district as taxes by or for said taxing district into which all othenproperty taxes-are paid. For'the'purpose of allocating taxes levied by or for any taxing district\yhich'did`not include the territory in the Urban Renewal Area bn"the effective dateof.this ordinance;thut to which the territory has been annexed or otherwise included after the effective date, the assessment roll applicable to property in the annexed territory as of January 1 of the calendar year preceding the effective date of theordinance-which amends the plan for the Urban Renewal Area 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,.except that taxe '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 provision of this ordinance. Unless and until the total assessed valuation of the taxable property in the Urban Renewal Area excess the total assessed value of the taxable propertyin 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 Area shall be paid into the funds for the respective taxing districts as takes by or for said taxing districts in the same manner as all other property taxes. When such loans, advances, indebtedness, and bonds, if • ariy, and interest thereon, have been paid, all money thereafter received from - taxes upon the taxable property in the Urban Renewal Area shall be paid into the funds for the respective taxing district in the same manner as taxes on all other property. Ordinance No. 2003-263 Page 4 (,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 of 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. ( 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 provision of this ordinance are herebyre'pealed. Section 5. Saving Clause. If any section, provision, or part of this ordinance shall be adjudged invalid or unsconstitutional, 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. On the 9th-of July, 2003ata regular meeting of the Tiffin City Council, Tiffin, Iowa, Councilperson Gericke, introduced Ordinance 2003-263 Not 0 0 3-2 6 3 , and moved that it be given its first reading.. The motion was seconded by Councilperson Shaffer • y Ayes: Shaffer, Gericke, Dils,_ Huedepohl and Bartels. Nays: None. Absent: None. Five members of the council begin present and having voted "Aye". Mayor Glenn R. Potter declared the motion carried and,Ordiance,No. 2003-263 , , was read the first time and discussed and placed'on record. Thereupon, it was moyed=by.Councilperson . Dils.- and seconded by Councilperson Huedepohl 4/1(4 +that the laws and rules providing that ordinances be"consideredand voted on for passage at t\\�o',council meetings prior to the meeting at which it is tobe finally passed be suspended and dispensed with and that Ordinance No. 2003-263 be placed on its.last reading. Ayes: Gericke, Shaffer;, Dils, Bartels, and Huedepohl. Nays: None. ABsent: None. k Five members of the council being present a nd.havingvoted "Aye", Mayor Glenn R. Potter declared the motion carriedf`and Ordinance No.2 0`0 3=2.63 , was then placed on its last reading and was read the last time. • Ordinance No. 2003-263 Page 5 Thereupon, it was moved by Councilperson Huedepohl and seconded by Councilperson Gericke. . . that Ordinance No. 2003-263 Be placed upon its final passage and adopted. Ayes: Dils, Bartels, Gericke, Shaffer and Bartels. Nays: None. Absent: None. • Five members of the council being present and having voted "Aye:<Mayor Glenn R. Potter declared the motion carried, and the ordinance No. 2003-263 was passed and adopted. Whereupon, the mayor declared that Ordinance No.2 0 0 3-2 6 3 be adopted and signified his approval of same by fixing his signature thereto. Passed by the council on the 9th of July and approved by the mayor on the 91-h day of July , 2003. j Glenn R. Potter,Mayor . -- Attest: • 't °. Marg. B. Reilu an, C. Clerk{�: � z.i{^ . r C. of i-f•n + ® S f r .51 J . r _ ... •a ... f } �tOrdinance.No..2003=263:. 1Page 6 The foregoing Ordinance No. 2003-263, entitled, AN ORDINANCE PROVIDING FOR THE DIVISION OF TAXES LEVIED ON TAXABLE PROPERTY IN THE 2003- ADDITION TO THE TIFFIN URBAN RENEWAL AREA, PURSUANT TO SECTION 403.19 OF THE CODE OF IOWA was published on the 1 5th day of July # , 2003, by posting copies of it in four public places within the City limits: Morgan's Standard, Solon State Bank of Tiffin, Amoco On the Go Convenience Store and Tiffin City Office at the Tiffin Fire Station, all according to the requirements of Iowa Code 362.3 (2) (1991) and Tiffin Ordinance No. 1980-89. Dated this 1 5th day of July , 2003. Mar(Wetilit.Teleman, City Clerk/Treasurer I, Margaret B. Reihman, City Clerk of Tiffin, Iowa, do hereby certify that the above is a true and correct copy'of Ordinance No. 2003-263 passed by the City Council of Tiffin, Iowa at a regular meeting held on the 9th day of July, 2003, as it appears in the official records held in my office. Dated this 9th day of July, 2003. Margaret' . ReihmanCit' lerk/Treasurer City of Tiffin r.k e r ". ; 1_ A 4 tti _