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CCAgenda_93Feb10
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CCAgenda_93Feb10
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Fund and all collections of any ad valorem taxes levied for the payment of the <br /> Bonds. <br /> (d) Any other funds appropriated by the Council for the payment of <br /> the Bonds. <br /> 4.03. Pledge of Tax Increment. Bonds maturing in the following years <br /> and amounts are being issued by the City to refund the 1984 Refunded Bonds (the <br /> 1984 TIF District Bonds). <br /> Year Amount Year Amount <br /> 1998 $50,000 2002 $50,000 <br /> 1999 45,000 2003 $50,000 <br /> 2000 45,000 2004 $45,000 <br /> 2001 55,000 2005 $45,000 <br /> Bonds maturing in the following years and amounts are being issued <br /> by the City to refund the 1985 Refunded Bonds (the 1985 TIF District Bonds). <br /> Year Amount <br /> 1995 90,000 <br /> 1996 235,000 <br /> 1997 235,000 <br /> 1998 255,000 <br /> Tax increment derived form the tax increment financing district <br /> created by the City's Tax Increment Financing Plan for Redevelopment District No. <br /> 1, approved by the City Council on September 19, 1984 with the City's Development <br /> District No. 2 (the 1984 TIF District) are hereby irrevocably pledged to the payment of <br /> the principal of and interest on the 1984 TIF District Bonds. <br /> Tax increment derived from the tax increment financing created by the <br /> City's Tax Increment Financing Plan for Housing District No. 2, approved by the City <br /> Council on February 27, 1985 within the City's Development District No. 1 (the 1985 <br /> TIF District) are hereby irrevocably pledged to the payment of the principal of and <br /> interest on the 1985 TIF District Bonds. The 1984 TIF District and 1985 TIF District <br /> are hereinafter collectively referred to as the "Districts <br /> Tax increment derived from the 1984 TIF District shall not be used to <br /> pay principal and interest on the 1985 TIF District Bonds, and tax increment derived <br /> from the 1985 TIF District shall not be used to pay principal and interest on the 1984 <br /> TIF District Bonds. <br /> -15- <br />
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