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(A) The fiscal year for the city shall be July 1 through June 30 each year.
(B) All financial records pertaining to the fiscal operation of said city, including the general fund and utilities system, shall be kept so as to conform with said fiscal year. Audits may be had for that portion of any year necessary in making the change. All financial statements required to be published shall conform to said fiscal year.
(Ord. 194, passed 1-7-69)
(A) Pursuant to KRS 103.200(1)(n), the city hereby designates as a downtown business district the area bounded by the limits of its incorporated area.
(B) The foregoing designation made solely for the purposes of considering industrial building revenue bond financing for projects under the provisions of KRS 103.200(1)(n) and for no other purpose.
(Ord. 86-454, passed 5-20-86)
IMPROVEMENTS
As used in this subchapter, unless the context requires, the following definitions shall apply:
ASSESSED VALUE BASIS.
The apportionment of cost of an improvement according to the ratio the assessed value of individual parcels of property bears to the total assessed value of all such properties.
BENEFITS RECEIVED BASIS.
The apportionment of cost of an improvement according to equitable determination by Council of the special benefit received by property from the improvement, including assessed value basis, front foot basis, and square foot basis, or any combination thereof, and may include consideration of assessed value of land only, graduation for different classes of property based on nature and extent of special benefits received, and other factors affecting benefits received.
COST.
All costs related to an improvement, including planning, design, property or easement acquisition and construction costs, fiscal and legal fees, financing costs, and publication expenses.
FAIR BASIS.
Assessed value basis, front foot basis, square foot basis, or benefits received basis.
FRONT FOOT BASIS.
The apportionment of cost of an improvement according to the ratio the front footage on the improvement of individual parcels of property bears to such front footage of all such properties.
IMPROVEMENT.
Construction of any facility for public use or services or any addition thereto, which is of special benefit to specific properties in the area served by such facility.
PROPERTY.
Any real property benefited by an improvement.
SPECIAL ASSESSMENT
or
ASSESSMENT.
A special charge fixed on property to finance an improvement in whole or in part.
SQUARE FOOT BASIS.
The apportionment of cost of an improvement according to the ratio the square footage of individual parcels of property bears to the square footage of all such property.
(KRS 91A.210)
(A) The city may not finance any improvement in whole or in part through special assessments except as provided in this subchapter and in any applicable statutes.
(KRS 91A.200)
(B) Cost of an improvement shall be apportioned equitably on a fair basis.
(C) The city may provide for lump sum or installment payment of assessments or for bond or other long-term financing, and for any improvement may afford property owners the opinion as to method of payment or financing.
(KRS 91A.220)
The cost of any improvement shall be apportioned on a benefits received basis with respect to any property owned by the state, a local unit of government, or any educational, religious, or charitable organization. Council may assess such property in the same manner as for privately owned property or it may pay the costs so apportioned out of general revenues.
(KRS 91A.230)
Before undertaking any improvements pursuant to this subchapter, the city shall prepare a comprehensive report setting out:
(A) The nature of the improvement;
(B) The scope and the extent of the improvement, including the boundaries or other description of the area to be assessed;
(C) The preliminary estimated cost of the improvement;
(D) The fair basis of assessment proposed;
(E) If financing of assessments is provided, the proposed method, including the proposed years to maturity of any bonds to be issued in connection with the improvement; and
(F) Such other information as may further explain material aspects of the improvement, assessments, or financing.
(KRS 91A.240)
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