(a) If the owners and lessees, as specified herein, of not less than 60 percent of the frontage of a public highway to be assessed, or of not less than 60 percent of the area of land to be assessed in a proposed improvement district designated by such persons, shall file with the council a petition, duly acknowledged by such owners and lessees, requesting the improvement, through an improvement district, of a public highway, a storm drainage system, sanitary sewer system, sidewalk, water system, street lighting system, or other public facility or improvement, together with the surveys, maps, plans, and other preliminary data and estimates mentioned in § 14-10.1, the council may reject or accept the petition.
If the council accepts the petition, it shall proceed thereon in the same manner as though the plan for such improvements had been initiated on its own motion. The council shall not make any change or modification of the plans, details, or specifications for the proposed improvements without the written and duly acknowledged consent of the owners and lessees of not less than 60 percent of the frontage or area of the land to be assessed, except that the council may delete or modify any part of the plans that contemplates payment by the city for such part of the proposed improvements.
The cost of any one or more of the following: engineering, incidentals, inspection, surveys, maps, plans, specifications, other engineering data, land acquisition, publication of notices of hearing, mailing notices to owners and lessees, services of bond counsel, printing of bonds, bond discounts, preparation and printing of an official statement relating to the bonds, publication and distribution of notice of sale of bonds, execution and delivery of bonds, registrars’ and paying agents’ fees and expenses, other reimbursements to registrars and paying agents and publication and mailing of notices of redemption rating agency fees, the cost of funding a debt service reserve fund for the payment of the principal of and interest on bonds, premiums for municipal bond insurance to insure the timely payment of the principal of and interest on bonds or to ensure in lieu of funding a debt service reserve for bonds and fees for letters of credit and other credit enhancements to secure the timely payment of the principal of and interest on bonds, shall be included in the cost of the improvements.
A lessee must join in the petition with the lessor unless the lessor files with the petition a duly acknowledged assumption of responsibility to pay the proposed assessments and release the lessee from payment or reimbursement to the lessor of such assessment.
No sidewalks shall be constructed independently of any other improvements under any provision of Articles 8 through 14 of this chapter, unless the highway along which the construction of such sidewalk is proposed shall have existing curbing, and the right-of-way width of such highway shall be at least equal to the width, if indicated, in the general plan or development plans of the city.
(b) An improvement district under this section may be initiated by the council on its own motion as an alternative to initiation by petition of the owners and lessees as hereinabove provided. Under this alternative method the duly acknowledged written consent of such owners and lessees of not less than 60 percent of the frontage or area of land to be assessed shall be obtained before proceeding with the improvements.
(c) No such improvements shall be approved by the council if the cost of the proposed improvements exceeds the market value of the land; provided that the improvements may be approved by the council upon the petitioners paying in cash or by certified check the amount by which the cost of the proposed improvements exceeds the market value of the land. The payment shall be applied against the total cost of improvements.
(Sec. 24-3.2, R.O. 1978 (1987 Supp. to 1983 Ed.)) (1990 Code, Ch. 14, Art. 25, § 14-25.2) (Am. Ord. 90-91)