Section 3.10.050 Method of Paying Funds to Taxing Districts.

Unless or until the total assessed valuation of the taxable property in the sub-areas of the Combined Floyd River Urban Renewal Area exceeds the total assessed value of the taxable property in said areas shown by the assessment rolls referred to in Section 3.10.030 of this Chapter, all of the taxes levied and collected upon the taxable property in the Combined Floyd River Urban Renewal Area shall be paid into the funds for the respective taxing districts as taxes by or for the taxing districts in the same manner as all other property taxes. (Ord. 2003-0777; 90/T-6353)