Chapter 3.12 EASTLAND URBAN RENEWAL TAX INCREMENT DISTRICT
Section 3.12.030 Allocation of funds - to special fund.
That portion of the taxes each year in excess of the base period taxes determined as provided in Section
3.12.020 shall be allocated to, and when collected be paid into a special tax increment fund of the
City of
Sioux City, Iowa, hereby established, to pay the principal of and interest on loans, monies advanced
to,
indebtedness, whether funded, refunded, assumed or otherwise, including bonds or obligations issued
under
the authority of Section 403.9 and 403.12 of the Code of Iowa, as amended, incurred by the City
of Sioux
City, Iowa, to finance or refinance in whole or in part projects undertaken pursuant to the Eastland
Urban
Renewal Project Program, except that taxes for the payment of bonds and interest of each taxing district
levying taxes on said project area shall be collected against all taxable property within the project
area
without any limitation as above provided. (Ord. 89/T-7999)