House Journal: Page 1365: Friday, April 25, 2003
44 9, shall be collected against all taxable property
45 within the taxing district without limitation by the
46 provisions of this subsection. However In addition,
47 all or a portion of the taxes for the physical plant
48 and equipment levy shall be paid by the school
49 district to the municipality if the auditor certifies
50 to the school district by July 1 the amount of such
Page 6
1 levy that is necessary to pay the principal and
2 interest on bonds issued by the municipality to
3 finance an urban renewal project, which bonds were
4 issued before July 1, 2001. Indebtedness incurred to
5 refund bonds issued prior to July 1, 2001, shall not
6 be included in the certification. Such school
7 district shall pay over the amount certified by
8 November 1 and May 1 of the fiscal year following
9 certification to the school district subsection 7
10 applies.
11 PARAGRAPH DIVIDED. Unless and until the total
12 assessed taxable valuation of the taxable property in
13 an urban renewal area exceeds the total assessed
14 taxable value of the taxable property in such area as
15 shown by the last equalized assessment roll referred
16 to in subsection 1, all of the taxes levied and
17 collected upon the taxable property in the urban
18 renewal area shall be paid into the funds for the
19 respective taxing districts as taxes by or for the
20 taxing districts in the same manner as all other
21 property taxes. When such loans, advances,
22 indebtedness, and bonds, if any, and interest thereon,
23 have been paid, all moneys thereafter received from
24 taxes upon the taxable property in such urban renewal
25 area shall be paid into the funds for the respective
26 taxing districts in the same manner as taxes on all
27 other property.
28 Sec. 12. Section 403.19, subsection 5, Code 2003,
29 is amended to read as follows:
30 5. A municipality shall certify to the county
31 auditor on or before December 1 of each year the
32 amount of loans, advances, indebtedness, or bonds
33 which qualify for payment during the fiscal year
34 beginning in the following calendar year from the
35 special fund referred to in subsection 2, and the
36 filing of the certificate shall make it a duty of the
37 auditor to provide for the division of taxes in each
38 subsequent the amount certified for the fiscal year
39 until the amount of the loans, advances, indebtedness,
40 or bonds is paid to the special fund beginning in the
41 following calendar year. The municipality shall
42 include in the certification a schedule of the total
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League of Women Voters of Iowa
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