§ 20-73. Adoption of initial assessment resolution.

The initial proceeding for imposition of an assessment shall be the board's adoption of an initial assessment resolution. The initial assessment resolution shall:

(1)

Describe the property to be located within the proposed MSBU;

(2)

Describe the local improvement and/or local service proposed for funding from proceeds of the assessments;

(3)

Estimate the cash-funded capital cost, debt-funded capital cost and/or service cost;

(4)

Describe with particularity the proposed method of apportioning the cash-funded capital cost, debt-funded capital cost and/or service 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;

(5)

Describe the provisions, if any, for acceleration and prepayment of the assessment;

(6)

Describe the provisions, if any, for reallocating the assessment upon future subdivision; and

(7)

Include specific legislative findings that recognize the fairness provided by the apportionment methodology.

(Ord. No. 10-10, Art. II, § 2.03, 5-3-10)