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Ordinance No. 19253
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Ordinance No. 19253
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Last modified
6/10/2010 3:43:47 PM
Creation date
4/6/2009 3:20:00 PM
Metadata
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Council Ordinances
CMO_Document_Number
19253
Document_Title
Regarding Downtown Dev. Dist.; authorizing a tax levy of $190,000; satisfying debt due the District fund (#113) from 10th & Oak Overpark Fund (#521); adjusting the tax liability of individual property within the District for satisfaction of debt.
Adopted_Date
6/11/1984
Approved Date
6/11/1984
CMO_Effective_Date
7/12/1984
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/q.253 <br />~2} Excess net operating revenues determined under subsec- <br />tion ~1} of this Section are hereby declared as rebates, T <br />he <br />amount thereof equal to the entire debt of the 10th & Oak <br />overpack Fund ~No. 521} to the Downtown Develo meat District F <br />p and <br />{No. 113} shall be paid to the Downtown Develo ment Distri t <br />P c Fund <br />~No. 113} to satisfy such debt in fully and then a lied or <br />PP <br />distribute~,_..as_~.pr,o:uided for in Section 4 of this Ordinan <br />ce. Anv <br />.remaining excess net operating revenues in the 1Dth & oak <br />Overpack Fund ~No. 521} shall. be rebated to the res ective owne s <br />P r <br />of property within the 1Dth & Oak Overpack Assessment District on <br />the same basis as the original 10th & Oak over ark s ecial ben <br />P p e <br />fit assessments were made and adjusted b Ordinance Nas. 14615 <br />Y <br />1639D, 16658 and 18087, to be a lied as .~ <br />pP provided for ~.n subset <br />tion ~3} of this Section. <br />~3} The rebate provided for in subsection ~2} of this Sec- <br />tion shall be entered as a credit on the lien docket for the <br />appropriate 10th & qak Overpack special benefit assessments• ro~- <br />,p <br />vided~ however, such credit shall not be entered until such tim <br />e <br />as the City Council adopts an ordinance authori~in the ad'ust- <br />9 J <br />ment of the 1Dth & qak Overpack special benefit assessments. If <br />such entry results in a credit balances then such balance shall <br />be distributed in cash to the persons, or their le al re resen- <br />9 P <br />tatives~ who made the previous lflth & qak Over ark s ecial bene-~ <br />p P <br />fit assessment payments, <br />Page 7 -- Ordinance <br />
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