Annually, the Authority shall submit to both City Council and the State Tax Commission a report on the status of the Tax Increment Financing account. The report shall include: the amount and source of revenue in the account; the amount and purpose of expenditures from the account; the amount of principle and interest on any outstanding bonded indebtedness; the initial assessed value of the project area; the captured assessed value retained by the authority; the tax increments received; and any additional information that the City Council or the State Tax Commission considers necessary. The report shall be published in a newspaper of general circulation in the city.
(Ord. 187, passed 5-4-92; Am. Ord. 309, passed 3-1-10)