§ 20-51. Definitions.

As used in this article, the following terms shall have the following meanings unless the context clearly requires otherwise:

Annual assessment resolution means the resolution described in section 20-78 hereof, approving an assessment roll for a specific fiscal year.

Assessment means a special assessment imposed by the county pursuant to this article to fund the cash-funded capital cost, debt-funded capital cost and/or service cost.

Assessment roll means the special assessment roll relating to a local improvement and/or local service, approved by a final assessment resolution pursuant to section 20-77 hereof or an annual assessment resolution pursuant to section 20-78 hereof.

Assessment unit means an objectively determinable unit or criteria, or combination of units or criteria, utilized to determine the assessment for each parcel of property, as set forth in the initial assessment resolution. Assessment units may include, by way of example only and not limitation, one (1) or a combination of the following: front footage, platted lots or parcels of record, land area, improvement area, equivalent residential connections, permitted land use, trip generation rates, rights to future trip generation capacity under applicable concurrency management regulations, property value or any other physical characteristic or reasonably expected use of the property that is related to the local improvement or local service to be funded from proceeds of the assessment.

Board means the board of county commissioners of Osceola County, Florida.

Cash-funded capital cost means all or any portion of the expenses that are properly attributable to the acquisition, design, analysis, construction, installation, reconstruction, renewal or replacement (including demolition, environmental mitigation and relocation) of a local improvement and imposition of the related assessments under generally accepted accounting principles.

Clerk means the Osceola County Manager, ex-officio clerk of the board, or such person's designee.

County means Osceola County, Florida.

Debt-funded capital cost means (1) the cash-funded capital cost of a local improvement, (2) the transaction cost associated with the obligations which financed the local improvement, (3) interest accruing on such obligations for such period of time as the board deems appropriate, (4) the debt service reserve fund or account, if any, established for the obligations which financed the local improvement, and (5) any other costs or expenses related thereto.

Final assessment resolution means the resolution described in section 20-77 hereof, which shall confirm, modify or repeal the initial assessment resolution and which shall be the final proceeding for the imposition of an assessment.

Fiscal year means the period commencing on October 1 of each year and continuing through the next succeeding September 30, or such other period as may be prescribed by law as the fiscal year for the county.

Government property means property owned by the United States of America, the State of Florida, a county, a special district, a municipal corporation, or any of their respective agencies or political subdivisions.

Initial assessment resolution means the resolution described in section 20-73 hereof, which shall be the initial proceeding for the imposition of an assessment.

Local improvement means a capital improvement acquired, constructed or installed for the special benefit of a neighborhood or other local area.

Local service means a service provided for the special benefit of a neighborhood or other local area.

MSBU means any of the municipal service benefit areas created by ordinance or resolution of the commission pursuant to section 20-71 hereof, that specially benefit from a local improvement or local service thereof.

Obligations means bonds or other evidence of indebtedness including, but not limited to, notes, commercial paper, capital leases, reimbursable advances by the county, or any other obligation issued or incurred to finance any portion of the debt-funded capital cost of a local improvement and secured, in whole or in part, by proceeds of the assessments. The term obligations may also include an internal loan from legally available funds of the county.

Ordinance means this Local Improvement and Service Assessment Ordinance.

Pledged revenue means, as to any series of obligations, (1) the proceeds of such obligations, including investment earnings, (2) proceeds of the assessments pledged to secure the payment of such obligations, and (3) any other legally available non-ad valorem revenue pledged, at the board's sole option, to secure the payment of such obligations, as specified by the ordinance and resolution authorizing such obligations.

Property appraiser means the Osceola County Property Appraiser.

Resolution of intent means the resolution expressing the board's intent to collect Assessments on the ad valorem tax bill required by the Uniform Assessment Collection Act.

Service cost means all or any portion of the expenses that are properly attributable to a local service under generally accepted accounting principles.

Special assessment coordinator means the county manager or such person's designee.

Tax collector means the Osceola County Tax Collector.

Tax roll means the real property ad valorem tax assessment roll maintained by the property appraiser for the purpose of the levy and collection of ad valorem taxes.

Transaction cost means the costs, fees and expenses incurred by the county in connection with the issuance and sale of any series of obligations, including, but not limited to: (1) rating agency and other financing fees; (2) the fees and disbursements of bond counsel; (3) the underwriters' discount; (4) the fees and disbursements of the county's financial advisor; (5) the costs of preparing and printing the obligations, the preliminary official statement, the final official statement, and all other documentation supporting issuance of the obligations; (6) the fees payable in respect of any municipal bond or reserve account insurance policy; (7) administrative, development, credit review, and all other fees associated with any pooled commercial paper or similar interim financing program; and (8) any other costs of a similar nature incurred in connection with issuance of such obligations.

Uniform Assessment Collection Act means F.S. §§ 197.3632 and 197.3635, or any successor statutes authorizing the collection of non-ad valorem assessments on the same bill as ad valorem taxes, and any applicable regulations promulgated thereunder.

(Ord. No. 10-10, Art. I, § 1.01, 5-3-10)