A. The local political subdivisions affected by the North/Railroad Avenue commercial redevelopment area tax increment allocation finance program are hereby exempted from paying the municipal utility tax imposed by the city as set forth in ordinance O-13-90 and as amended in ordinance O-16-90 until September 13, 2014, or until the costs of the project are retired.
The exemption shall take effect upon the allocation of the increased taxes, as a result of the project, to retire the project costs.
B. The local political subdivisions affected by the North/Wolf tax increment financing redevelopment plan and project are hereby exempted from paying the municipal utility tax imposed by the city as set forth in ordinance O-13-90 and as amended in ordinance O-16-90 until the year 2014, or until the costs of the project are retired.
The exemption shall take effect upon the allocation of the increased taxes, as a result of the project, to retire the project costs. (Ord. O-30-91, 9-13-1991)
C. The city, however, still recognizes the fiscal responsibility of each political subdivision to its taxpayers as a taxing body. As such, any and all said political subdivisions exempted from paying the municipal utility tax must qualify for said exemption by maintaining a current tax levy not to exceed two and one-half percent (2.5%) over the tax levy of the previous year for that political subdivision.
D. Any local political subdivisions exempted from paying the municipal utility tax shall submit to the city their annual tax levy for the years 1994 and 1995, no later than January 1, 1995, and subsequently submit their annual tax levy no later than January 1 of each succeeding year. (Ord. O-01-95, 1-2-1995)