A. Any district established or extended pursuant to the provisions of this Chapter, where there is no indebtedness, outstanding and unpaid, incurred to accomplish any of the purposes of the district, may be disestablished by resolution of the City Council in either of the following circumstances:
1. a. If the City Council finds there has been misappropriation of funds, malfeasance, or a violation of law in connection with the management of the district, it shall notice a hearing on disestablishment.
2. During the operation of the district, there shall be a thirty (30)-day period each year in which the assessed property owners may request disestablishment of the district.
a. The first such period shall begin one year after the date of establishment of the district and shall continue for a thirty (30)-day period.
b. The next such thirty (30)-day period shall begin two years after the date of the establishment of the district.
c. Each successive year of operation of the district shall have such a thirty (30)-day period.
d. Upon the written petition of the owners of real property in the area who pay thirty percent (30%) or more of the assessments levied, the City Council shall notice a hearing on disestablishment.
f. In the event that the district has constructed any improvements, an amount of assessment equal to the amount needed to maintain the improvements through its useful life, as determined by the City Clerk, shall continue to be levied upon each parcel in the district after its dissolution.
B. The City Council shall adopt a resolution of intention to disestablish the district prior to the public hearing required by this Section.
1. The resolution shall state the reason for the disestablishment, the time and place of the public hearing, and shall contain a proposal to dispose of any assets acquired with the revenues of the assessments levied within the district.
2. The public hearing shall be held not less than thirty (30) or more than sixty (60) days after the adoption of the resolution of intention.
3. Notice of the public hearing shall be published as provided in § 15.11.055.
C. 1. Upon the disestablishment of a district, any remaining revenues derived from the levy of assessments, or any revenues derived from the sale of assets acquired with the revenues, shall be refunded to the owners of the property then located and operating within the district in which assessments were levied, by applying the same method and basis that was used to calculate the assessments levied in the fiscal year in which the district was disestablished.
2. If the disestablishment occurs before an assessment is levied for the fiscal year, the method and basis that was used to calculate the assessment levied in the immediate prior fiscal year shall be used to calculate the amount of refund.
D. Notice of the disestablishment of a district shall be published once in a newspaper of general circulation in the City, not later than fifteen (15) days after the resolution disestablishing the district is adopted.
(Ord. No. 2003-003 (part))