Section 26.34.040 Operation fund established.

Pursuant to the provisions of the Act, there is hereby established and created a self-supported improvement district operation fund, which shall be known as the “Sioux City Main Street Self-Supported Municipal Improvement District Operation Fund” (the “Operation Fund”), for which Operation Fund the City may certify taxes (the “Operation Tax”) against the property, as defined in the Act (excluding property assessed as residential property for property tax purposes) within the District (the “Property”) each year, in addition to all other taxes commencing with the levy of taxes for collection in the fiscal year beginning July 1, 2008 and continuing for four (4) additional years, for the purpose of paying the administrative expenses of the District, including but not limited to administrative personnel salaries, a separate administrative office, planning costs including consultation fees, engineering fees, architectural fees and legal fees and all other expenses reasonably associated with the administration of the District and the fulfilling of its purposes. The Operation Tax may also be used for the purpose of paying part or all of the maintenance expenses of “improvements” or “self-liquidating improvements”, as defined in and to the extent authorized by the Act, for a period of five (5) years. (Ord. 2008-0195; 2003-0279; 98/U-6815; 93/U-1023; 90/T-8658)