The city hereby provides for a partial tax exemption from property taxation of the actual value added to industrial real estate by the new construction of industrial real estate and the acquisition of or improvement to machinery and equipment assessed as real estate pursuant to the provisions of Iowa Code Chapter 427B , as amended. This provision shall be subject to the definitions and requirements set forth in said chapter.
(Prior Code, § 1-9-1) (Ord. 258, passed 5-3-1982)