§ 2-29-152. Definitions.

The following terms, wherever used or referred to in this article, shall have the following meanings:

Southwest county improvement district or district shall mean the district established pursuant to section 2-29-153 over that portion of the unincorporated area of the county described on Attachment "A" attached hereto and incorporated herein by reference. [Attachment A is attached to Ord. No. 14-28 and on file with the county.]

Southwest county improvement trust fund or trust fund shall mean the fund established pursuant to section 2-29-154.

Subject property shall mean all taxable real property within the district.

Tax increment shall mean the amount equal to fifty (50) per cent of the sum of:

1.

The amount of ad valorem taxes levied each year by the county, exclusive of any amount from any debt service millage, upon subject property contained within the geographic boundaries of the district less:

2.

The amount of ad valorem taxes which would have been produced by the rate upon which the tax is levied each year by or for the county, exclusive of any debt service millage, upon the total of the assessed value of the subject property within the district as shown upon the most recent assessment roll used in connection with the taxation of such property by the county prior to October 1, 2014.

Tax increment revenues shall mean the tax increment moneys deposited into the southwest county improvement trust fund pursuant to subsection 2-29-154(a).

(Ord. No. 14-28, § 3(Exh. A, § 2-29-142), 6-3-14)