The City Council may establish a parking and business improvement area by the following procedure:
(A) The City Council shall adopt a resolution of intention to establish a parking and business improvement area, which resolution shall contain the following information:
(1) A description of the boundaries of the proposed area.
(2) The time and place when a hearing shall be held by the City Council to consider the establishment of a parking and business improvement area.
(3) The proposed use to which the additional revenues shall be put.
(4) The initial rate of increase, or additional levy, of the license tax, with a breakdown by class of business if such classification is to be used.
(B) Notice of the hearing provided for by the resolution of intention shall be published and mailed in accordance with § 12.32.030 hereof. Such notice shall, however, include a complete copy of the resolution of intention to establish a parking and business improvement area.
(C) At the time set for such hearing, the City Council shall hear all protests and receive evidence for or against the proposed action. The City Council shall also rule upon all protests, and the determination of the City Council thereon shall be final. The City Council may continue the hearing from time to time.
(D) The Council may, however, modify the boundaries of the district as described in the resolu-tion of intention. If the City Council decides to change the boundaries of the proposed area the hearing shall be continued to a time at least 15 days after such decision, and notice shall be given as provided in § 12.32.030 hereof, showing the boundary amendments, but no additional resolution of intention shall be required.
(E) All proceedings shall terminate if protest is made by businesses in the proposed area which pay a majority of the taxes within the area under the general business license tax set forth in Chapter 5.04 of this code.
(F) If the City Council, following the hearing, decides to establish the proposed area, it shall adopt an ordinance to that effect. The ordinance shall contain the following information:
(1) The number, date and title of the resolution of intention pursuant to which it was adopted.
(2) The time and place the hearing was held concerning the formation of such district.
(3) A description of the boundaries of such district.
(4) A statement that the businesses in the area established by the ordinance shall be subject to the provisions of the additional tax provided in this chapter.
(5) The initial rate of increase, or additional levy, of the license tax to be imposed, together with a breakdown by classification of business, if such classification is used.
(6) A statement that a parking and business improvement area has been established.
(7) The uses to which the additional revenue shall be put.
('86 Code, § 12.32.040) (Ord. 3346, passed - - )