§ 122-2047. Initial assessment resolution.

The initial proceeding for creation of an MSBU and imposition of an assessment shall be the board's adoption of an initial assessment resolution. The initial assessment resolution shall (A) describe the property to be located within the proposed MSBU; (B) describe the local improvement and related service proposed for funding from proceeds of the assessments; (C) estimate the capital cost, project cost and operating cost; (D) describe with particularly the proposed method of apportioning the capital cost, project cost and operating cost among the parcels of property located within the proposed MSBU, such that the owner of any parcel of property can objectively determine the number of assessment units and the amount of the assessment; (E) describe the provisions, if any, for acceleration and prepayment of the assessment; (G) describe the provisions, if any, for reallocating the assessment upon future subdivision; and (H) include specific legislative findings that recognize the fairness provided by the apportionment methodology.

(Ord. No. 98-45)