The council may commence proceedings to approve an ordinance of early termination if receiving the following:
(1) A petition signed by the owners of at least 25 percent of the land within a district requesting the early termination of the district; and
(2) A fee which the council determines is necessary to compensate the city for the costs of proceedings to review the proposed early termination of the district.
The fee shall be nonrefundable, even if the council does not approve the early termination.
(1990 Code, Ch. 34, Art. 5, § 34-5.3) (Added by Ord. 96-18)