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ORDINANCE NO. ~~ <br />AN ORDINANCE REGARDING THE DOWNTOWN DEVELOPMENT <br />DISTRICT; AUTHORISING A TAX LEVY OF $190,000; <br />SATISFYING DEBT DUE THE DOWNTOWN DE~~ELOPMENT <br />DISTRICT FUND ENO, 113} FROM THE 10TH & OAK <br />OVERPARK FUND ENO, 521}; ADJUSTING THE TAX <br />LIABILITY OF INDIVIDUAL PROPERTY WITHIN THE <br />DOWNTOWN DEVELOPMENT DISTRICT FOR SATISFACTION <br />OF DEBT <br />The City Council of the Cit of Eu ene finds tha <br />Y g t. <br />~.. In November, 1966, when the City created the 10th & Oak <br />Overpark Assessment District Assessment District} it determined <br />the excess .net operating revenues from the 10th & Oak Over ark <br />P <br />Off -Street Parking Facility would be used to reduce the s ecial <br />P <br />benefit assessments made to parcels cif real propert within the <br />Y <br />Assessment District. <br />2, The assessments levied against property specially bene- <br />fited by the construction of the 10th & Oak Over ark Off-Street <br />P <br />Parking Facility were created and modified by the following <br />ordinances: <br />Date Ord. No. Ex lanation Amount <br />11/21/66 14615 Original assessment $2,000,000 <br />2/28/72 16390 Deficit assessment 470,000 <br />11/27/72 16658 Property status change 73,?38 <br />11/28/77 18087 Property status change 200 999 <br />Total Assessed: $2,74,737 <br />3. In order to construct 10th & Oak Overpack Off-Street <br />Parking Facilityr the City Council authorized the issuance of <br />general obligation improvement bonds under the Bancroft .Banding <br />Act as follows: <br />Page 1 -- Ordinance <br />