[DOWNLOAD] "State Ex Rel. Schneider v. City of Topeka" by Supreme Court of Kansas ~ eBook PDF Kindle ePub Free
eBook details
- Title: State Ex Rel. Schneider v. City of Topeka
- Author : Supreme Court of Kansas
- Release Date : January 19, 1980
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 68 KB
Description
The opinion of the court was delivered by This case involves the constitutionality of tax increment financing of programs designed to redevelop blighted business areas in Kansas cities as authorized by K.S.A. 1977 Supp. 12-1770 et seq. There is no factual dispute. The city of Topeka, by resolution No. 3241, adopted a redevelopment plan for a two-block downtown commercial area. At the same time, the city declared its intent to issue special obligation bonds in the amount of $18,000,000 to finance the redevelopment. The urban redevelopment act, K.S.A. 1977 Supp. 12-1770 et seq., was enacted by the 1976 legislature. It authorized cities to undertake redevelopment projects in downtown commercial areas and to finance such projects through the issuance of special obligation bonds. These bonds are to be repaid from increments in ad valorem property taxes resulting from the redevelopment projects. The act defines increment as that amount of ad valorem taxes collected from real property taxes, levied each year within the redevelopment project area, in excess of that amount which is produced from the assessed valuation of such property as of the date the redevelopment plan was adopted (12-1771[e]).