Chapter 3.18 COMBINED CENTRAL SIOUX CITY-CBD URBAN RENEWAL TAX INCREMENT DISTRICT
Section 3.18.040 Allocation of funds - to special fund.
That portion of the taxes each year in excess of the base period taxes for the Combined Central Sioux
City-CBD Urban Renewal Project Area, determined for each Sub- area thereof as provided in Section 3.18.030
of this ordinance, 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 issued under the
authority of Section 403.9 and Section 403.12 of the Code of Iowa, incurred by the City of Sioux City,
Iowa
to finance or refinance in whole or in part projects undertaken pursuant to the Combined Central Sioux
City-CBD Urban Renewal Plan, as amended, except that taxes for the payment of bonds and interest on
each taxing district levying taxes on said Project Area shall be collected against all taxable property
within
the Combined Central Sioux City-CBD Urban Renewal Project Area without any limitation as hereinabove
provided. (Ord. 91/T-9467)