Laserfiche WebLink
PART III. - CAPITAL ASSESSMENTS <br />Section 206.30. - General Authority. <br />(A) The Board is hereby authorized to impose Capital Assessments <br />against property located within an Assessment Area to fund the Capital Cost <br />or Project Cost, if obligations are issued, of Local Improvements. <br />(B) The Capital Assessment shall be computed in a manner that <br />fairly and reasonably apportions the Capital Cost or Project Cost, if <br />obligations are issued, among the parcels of property within the Assessment <br />Area based upon objectively determinable Assessment Units and reasonably <br />related to the special benefit provided by the Local Improvement. Nothing <br />contained in this Ordinance shall be construed to require the imposition of <br />Capital Assessments against Government Property. <br />(C) All Capital Assessments shall be imposed in conformity with the <br />procedures set forth in this Part III. <br />Section 206.31. - Initial Proceedings. The initial proceeding for the <br />imposition of a Capital Assessment shall be the Board's adoption of an Initial <br />Assessment Resolution: <br />(A) describing the property to be located within the proposed <br />Assessment Area; <br />(B) containing a brief and general description of the Local <br />Improvements to be provided; <br />,, (.C),determining the Capital -Cost or..Project,Cost to be::assessed for <br />Local Improvements; <br />(D) describing the method of apportioning the Capital Cost or Project <br />Cost and the computation of the Capital Assessments for specific properties; <br />(E) establishing an estimated assessment rate for the upcoming Fiscal <br />Year; <br />(F) describe the provisions, if any, for acceleration and prepayment of <br />the Capital Assessment; <br />(G) describe the provisions, if any, for reallocating the Capital <br />Assessment upon future subdivision; <br />Board; <br />(H) establishing a Maximum Assessment Rate, if desired by the <br />IN <br />