§ 48-6809 – Perpetual succession
48-6809. Perpetual succession The district has perpetual succession, except that the district may be dissolved as provided in section 48-6819 and, if the district does not have any bonds or other obligations outstanding, shall be dissolved ten years after the date of formation unless the governing bodies of the participating municipalities by resolution extend the […]
§ 48-6810 – Records; board of directors; open meetings
48-6810. Records; board of directors; open meetings A. The district shall keep the following records, which shall be open to public inspection: 1. Minutes of all meetings of the district board. 2. All resolutions. 3. Accounts showing all monies received and disbursed. 4. The annual budget. 5. All other records required to be maintained by […]
§ 48-6811 – Participation by municipality
48-6811. Participation by municipality The governing body of the municipality, by resolution, may summarily order the participation by the municipality in the costs of any public infrastructure purpose, including the payment of bond debt service.
§ 48-6812 – Finances
48-6812. Finances The projects to be constructed or acquired as shown in the general plan may be financed from the following sources of revenue: 1. Proceeds received from the sale of bonds of the district. 2. Monies of the municipality or Indian tribe or community contributed to the district. 3. Special assessments. 4. State or […]
§ 48-6813 – Budget
48-6813. Budget On or before July 15 each year, the district treasurer shall prepare a proposed budget for the ensuing fiscal year to be submitted to the district board for approval. The board shall indicate its approval of the budget by resolution, which shall provide for a hearing on the budget as approved. The participating […]
§ 48-6814 – Revenue bonds; fees and charges
48-6814. Revenue bonds; fees and charges A. At any time after the hearing on formation of the district, the district board may hold a hearing on the question of authorizing the district board to issue revenue bonds of the district to provide monies for any infrastructure purposes consistent with the general plan. B. If revenue […]
§ 48-6801 – Definitions
48-6801. Definitions In this article, unless the context otherwise requires: 1. " Clerk" includes any person or official who performs the duties of clerk of the municipality or any person appointed by the district board to be the district clerk. 2. " Debt service" means the principal of, interest on and premium, if any, on […]
§ 48-6802 – Resolution of intent; eligible participants; district board
48-6802. Resolution of intent; eligible participants; district board A. If the public convenience and necessity require, and on presentation of a petition signed by the owners of at least fifty-one per cent of the net assessed value of the property proposed to be included in the district and a petition signed by at least fifty-one […]
§ 48-6803 – Notice
48-6803. Notice A. The clerk shall execute a notice, which shall read substantially as follows: To whom it may concern: The governing body of the city of __________, on (Date) , adopted the attached resolution declaring its intention to form a tax levying revitalization district. A hearing on formation will be held on (Date) , […]