Section 3.10.030 Allocation of Funds to Taxing Districts.

As to the Floyd River Urban Renewal Sub-Area, that portion of the taxes which would be produced by the rate at which the tax is levied each year in such Sub-area by or for each of the taxing districts taxing property in the Floyd River Urban Renewal Sub-area upon the total sum of the assessed value of the taxable property in the Floyd River Urban Renewal Sub-area as shown on the assessment roll for January 1, 1987, being the first day of the calendar year preceding the effective date of Ordinance 90\T-6353, 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. The taxes so determined may be referred to herein as the "base period taxes" for such Sub-area. (Ord. 2003-0777; 90/T-6353)

As to the Hoeven Valley Urban Renewal Sub-area, base period taxes shall be computed in the same manner using the total assessed value shown on the assessment roll for January 1, 2002, being the assessment roll applicable to property in such area as of January 1 of the calendar year preceding the effective date of this Ordinance. (Ord. 2003-0777; 90/T-6353)