Pursuant to provisions of Iowa Code chapter 386, there is hereby established and created a Self-Supported Improvement District Operation Fund which shall be known as the "Downtown Bettendorf Self-Supported Municipal Improvement District Operation Fund", for which operation fund the City may certify taxes (the "Operation Tax") against the property, as defined in Iowa Code chapter 386 (excluding property assessed as residential property for Property Tax purposes) within the district (the "property") each year, in addition to all other taxes, commencing with the levy of taxes for collection in the fiscal year beginning July 1, 2019. The purpose of the levy is for paying such expenses of the district as are authorized by Iowa Code chapter 386, including, but not limited to, the administrative expenses of the district and part or all of the maintenance expenses of improvements or self-liquidating improvements, as defined in Iowa Code chapter 386. This levy shall continue annually for a period of five (5) years, commencing with the levy of funds for collection in the fiscal year beginning July 1, 2019. (Ord. 15-19, 7-16-2019)