[HISTORY: Adopted by the City Council of the City of Amery 10-6-2004 as Title 9, Ch. 2, of the 2004
Code; amended in its entirety 2-3-2021 by Ord. No. 01-2021. Subsequent amendments noted where
applicable.]
Regulations and rates for service from the City Sewer Utility
shall be as prescribed in the Public Service Commission's current
rate order, on file with the City Administrator/Clerk-Treasurer.
[Added 4-7-2021 by Ord. No. 06-2021]
A. The City of Amery, Polk County, Wisconsin plans to make several improvements
to Keller Avenue and other related facilities also identified Safe
Drinking Water Project #5582-02 ("the project").
B. The City intends to adopt a resolution authorizing the issuance of
revenue bonds to pay for the project, and has determined that such
improvements benefit the City Tax Incremental District No. 6.
C. A tax incremental district water charges are hereby imposed upon
the City of Amery for 100% of the total costs of the project (including
debt service coverage ratio requirements imposed by a bond resolution)
which are applicable to improvements undertaken in connection with
the City's Tax Incremental District No. 6 ("the district"), whether
located within or outside the district. The charge against the Tax
Incremental District No. 6 for the above-referenced project shall
be no less than the amortized amount of 50% of the total project cost
or 100% of the project SDWL loan principal and interest payments for
the life of the Tax Incremental District No. 6, whichever is less.
D. An additional tax incremental district charge is hereby imposed under
the following condition: If the life of the loan exceeds the legal
repayment period of TID No. 6, the City reserves the right to charge
the TID No. 6 during the repayment period of the TID No. 6 for payments
which will come due and payable after the TID No. 6 payment period
has expired for remaining principal payments allocable to the aforementioned
improvements.
E. A tax incremental district payment shall be issued semi-annually
directly to the sewer utility checking accounts prior to the debt
service date(s). This obligation shall only apply to the debt incurred
due for the costs of the project. Upon final debt service payment
by the sewer utilities for the project then this section shall be
automatically repealed.