Section 3.04.010 Purpose.

The purpose of this chapter is to implement the provisions of House File 650, Acts of the 68th General Assembly, 1979 Regular Session of the State of Iowa, in order to provide for a partial exemption from property taxation of the actual value added to industrial real estate by the new construction of industrial real estate and the acquisition of or improvement to machinery and equipment assessed as real estate pursuant to Section 427A.1, Subsection (1), Paragraph e, of the Code of Iowa, as amended. (Ord. S-39496, 1980)