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ATTACHMENT B
3.96.080 Formation Costs.
If so provided in the engineer's report for a Community Improvement District, the assessment levied in connection with such a District may include amounts sufficient to recover the costs incurred in forming the District, including:
A. The costs of preparation of the management plan and engineer's report required by State law; and
B. The cost of preparing, circulating and submitting the petition to the City Council seeking establishment of the District; and
C. The costs of printing, advertising, and the giving of published, posted, or mailed notices; and
D. Compensation of any consultant, engineer, or attorney employed to render services in proceedings under this chapter or the PBID Law; and E. Costs incurred by the City for public hearings, notices, ballots and other proceedings required by law for approval of a new or increased assessment.
The engineers report shall specify the formation costs eligible for recovery through assessments, the schedule for recovery of those costs, and the basis for determining the amount of the additional assessment for recovery of costs, including the maximum amount of the additional assessment, expressed either as a dollar amount, or as a percentage of the underlying assessment.
3.96.090 Advancement of Costs.
The City Council may, in the Resolution of Intention for a Community Improvement District, provide that if the District is established, funds may be advanced from the City's general fund to permit the operation of the District prior to the City's collection of the assessment. Such advance shall occur only after the establishment of the District, and no advance shall be made if the District is not established. Any such advance may not exceed the total anticipated assessment proceeds for the first year of the assessment.
Any such advance must be recovered from assessment proceeds as provided in the Resolution of Intention, along with interest calculated at a rate set forth in the Resolution of Intention. The duration of any such advance shall not exceed five years.
3.96.100 Duration.
The duration of a new Community Improvement District shall be no greater than specified in the Resolution of Intention for the District, and shall in no event be in excess of 20 years. This section is intended to supplant any shorter limitation set forth in the PBID Law on the duration of assessments levied in connection with an assessment district.
ATTACHMENT B
ATTACHMENT B