Resolutions-2022-042

For collection in the fiscal year beginning July 1, 2029, sufficient to produce the net annual sum of $227,833; For collection in the fiscal year beginning July 1, 2030, sufficient to produce the net annual sum of $227,163; For collection in the fiscal year beginning July 1, 2031, sufficient to produce the net annual sum of $226,335; For collection in the fiscal year beginning July 1, 2032, sufficient to produce the net annual sum of $230,350; For collection in the fiscal year beginning July 1, 2033, sufficient to produce the net annual sum of $223,750; For collection in the fiscal year beginning July 1, 2034, sufficient to produce the net annual sum of $132,150; For collection in the fiscal year beginning July 1, 2035, sufficient to produce the net annual sum of $133,125; For collection in the fiscal year beginning July 1, 2036, sufficient to produce the net annual sum of $133,925; and For collection in the fiscal year beginning July 1, 2037, sufficient to produce the net annual sum of $134,550. Section 8. A certified copy of this resolution shall be filed with the County Auditor of Johnson County, and the Auditor is hereby instructed to enter for collection and assess the tax hereby authorized. When annually entering such taxes for collection, the County Auditor shall include the same as a part of the tax levy for Debt Service Fund purposes of the City and when collected, the proceeds of the taxes shall be converted into the Debt Service Fund of the City and set aside therein as a special account to be used solely and only for the payment of the principal of and interest on the Bonds hereby authorized and for no other purpose whatsoever. Any amount received by the City as accrued interest on the Bonds shall be deposited into such special account and used to pay interest due on the Bonds on the first interest payment date. Pursuant to the provisions of Section 76.4 of the Code of Iowa, each year while the Bonds remain outstanding and unpaid, any funds of the City which may lawfully be applied for such purpose may be appropriated, budgeted and, if received, used for the payment of the principal of and interest on the Bonds as the same become due, and if so appropriated, the taxes for any given fiscal year as provided for in Section 7 of this Resolution, shall be reduced by the amount of such alternate funds as have been appropriated for said purpose and evidenced in the City’s budget.