HomeMy WebLinkAboutOrd No 1292 Summary North Hwy Plan URA TerminationSUMMARY OF ORDINANCE NO. 1292
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REXBURG,
IDAHO, IMMEDIATELY TERMINATING THE REVENUE
ALLOCATION AREA FOR THE NORTH HIGHWAY PROJECT AREA,
AS AMENDED; REQUIRING DISTRIBUTION OF ANY NON -
OBLIGATED SURPLUS DETERMINED TO EXIST AS OF SEPTEMBER
30, 2022, PURSUANT TO SECTION 50-2909, IDAHO CODE;
AUTHORIZING THE CITY CLERK OR URBAN RENEWAL AGENCY OF
REXBURG, IDAHO, ALSO KNOWN AS THE REXBURG
REDEVELOPMENT AGENCY, TO FILE THE ORDINANCE, TOGETHER
WITH THE BOUNDARY MAP, WITH THE OFFICE OF THE COUNTY
RECORDER, THE COUNTY ASSESSOR, AND THE IDAHO STATE TAX
COMMISSION AS PROVIDED IN SECTION 63-215, IDAHO CODE;
PROVIDING THAT A COPY OF THIS ORDINANCE SHALL BE GIVEN
TO EACH OF THE TAXING ENTITIES AFFECTED BY SAID REVENUE
ALLOCATION AREA; APPROVING THE SUMMARY OF THE
ORDINANCE; AND PROVIDING AN EFFECTIVE DATE.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE
CITY OF REXBURG, IDAHO:
Section 1: That the above statements are true and correct.
Section 2: That the revenue allocation area contained in the North Highway Plan, as
more particularly shown in Attachment 2, is hereby terminated, consistent with the termination
provisions set forth in the Act.
Section 3: That the tax year 2022 revenues from the increment value as levied upon
within the revenue allocation area are not needed for the payment of any Agency indebtedness or
Agency projects to be completed before September 30, 2022.
Section 4: That Agency has determined there are not any non -obligated surplus funds
to be remitted to the County Treasurer prior to the end of the Agency's 2022 fiscal year on or
before September 30, 2022. That any non -obligated surplus funds deemed by the Agency to exist
will be remitted to the County Treasurer following the final accounting of the Agency's 2022 fiscal
year on or before April 1, 2023, but in any event no later than September 30, 2023, to be distributed
to the taxing districts in the same manner and proportion as the most recent distribution to the
taxing districts of the taxes on the taxable property located within the revenue allocation area. See
I.C. 50-2909(4). Further, any other remaining funds in subsequent fiscal years received by the
Agency from delinquent taxes after September 30, 2022, shall be disbursed in the same manner
each fiscal year.
Section 5: That a copy of this Ordinance shall be sent to and/or filed with the Madison
County Assessor's Office, the County Auditor/Recorder, and the Idaho State Tax Commission,
together with a boundary map, to provide notice of termination of the revenue allocation area in
the North Highway Plan by either the City Clerk or Agency representatives.
Section 6: At least one-half, plus one of the City Council members finding good cause,
the City Council hereby dispenses with the rule that this Ordinance be read on three different days;
two readings of which shall be in full, and have hereby adopted this Ordinance, having considered
it at one reading.
Section 7: That this Ordinance shall be in full force and effect immediately upon its
adoption, approval, and publication.
Section 8: The Summary of this Ordinance, a copy of which is attached hereto as
Attachment 3, is hereby approved.
Section 9: All ordinances, resolutions, orders, or parts thereof in conflict herewith are
hereby repealed, rescinded, and annulled.
Section 10: SAVINGS CLAUSE: This Ordinance does not affect an action or
proceeding commenced or right accrued before this Ordinance takes effect.
PASSED by the City Council of the city of Rexburg, Idaho, on this 2nd day of November
2022.
APPROVED by the Mayor of the city of Rexburg, Idaho, on this 2nd day of November
2022..
ATTACHMENTS TO THE ORDINANCE
Attachment 1 Agency Resolution No. 2022-4, including as exhibits the Termination Plan
setting forth an estimate of remaining project costs and other administrative
fees and costs, together with an estimate of any surplus that may be
available for distribution, and a proposed Termination Budget, as
subsequently updated
Attachment 2 Revenue Allocation Area Map
Attachment 3 Ordinance Summary
The full text of Ordinance 1292 is available at the offices of the City Clerk, 35 N. 1 st East,
Rexburg, Idaho, 83440.
This summary approved by the Rex
ATTEST:
Council at its Ineeting of November 2, 2022.
De orah Lovejoy, City Clerk
I, Stephen Zollinger, City Attorney for the City of Rexburg, declare that in my capacity as
City Attorney of the City of Rexburg, pursuant to Idaho Code Section 50-901A(3) of the Idaho
Code as amended, I hereby certify that I have reviewed a copy of the above cited Summary of
Ordinance and have found the same to be true and complete and to provide adequate notice to the
public of the contents, including the exhibits, of Ordinance No. 1292.
DATED this 2nd day of November 2022.
Stephen ollinger, City t orney
City of Rexburg