Promptly following the adoption of a council resolution of intention to establish a maintenance assessment district or promptly following the filing of a property owner notice of intention to file a petition to establish such an assessment district in the manner provided by this chapter, the city engineer shall prepare a report setting forth all of the following information:
A. A map of the proposed assessment district which shall indicate by a boundary line the extent of all property which will be specially benefitted by the public improvements to be operated and maintained with annual assessment district revenues;
B. A detailed description of the type and location of the public improvements to be operated and maintained with such revenues;
C. The total annual assessments required to operate and maintain such public improvements, as well as the reasons for such assessments;
D. The method used to calculate the assessment against any lot or parcel of property within the boundaries of the assessment district according to such lot or parcel's proportional benefit from such public improvements, as well as the annual assessment to be levied against any existing or proposed lot or parcel within the boundaries of the assessment district, calculated in accordance with such method of apportionment;
E. A statement of the method of calculating any increase in the amount of the total annual assessment as well as any increase in an annual assessment levied against a particular lot or parcel within the boundaries of the assessment district to account for inflation as hereinafter required by this chapter;
F. A statement that if the actual cost of operating and maintaining such public improvements during any year the assessment district remains in effect is less than the assessment levied for that year, the difference between the actual cost of operating and maintaining the public improvements and the assessment levied for that year shall be credited against the assessments levied during the next succeeding year in the manner hereinafter required by this chapter; and,
G. The termination date of such assessment district if of limited duration, or a statement that the assessment district will continue from year to year until dissolved by the city council if the assessment district is not one of limited duration.
(Ord. 2129)