(a) At least 90 days before the end of the preceding assessment year, the chief engineer shall prepare and submit a report to the council for the next assessment year. The report shall include the anticipated surplus or deficit from the preceding assessment year as well as the proposed new rate of assessment.
(b) If the proposed assessment does not exceed 10 percent of the preceding year’s total amount of assessment against all properties in the district, the new assessment shall take effect upon the new assessment year.
(c) If the proposed assessment exceeds 10 percent of the preceding year’s total amount of assessment against all properties in the district, the council shall review comments and recommendations of the advisory committee and conduct a public hearing as provided for in § 14-16.4 on the issue of the assessment only. Thereafter, the council shall adopt by resolution the new rate of assessment as determined from the outcome of the public hearing.
(1990 Code, Ch. 14, Art. 31, § 14-31.9) (Added by Ord. 88-97)