1. 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 ordinance of the City Council in either of the following circumstances:
(b) During the operation of the district, there shall be a 30-day period each year in which assesses may request disestablishment of the district. The first such period shall begin one year after the date of establishment of the district and shall continue for 30 days. The next such 30-day period shall begin two years after the date of the establishment of the district. Each successive year of operation of the district shall have such a 30-day period. Upon the written petition of the owners of real property in the area who pay 30 percent or more of the assessments levied, the City Council shall pass an ordinance of intention to disestablish the district. The City Council shall notice a hearing on disestablishment. The notice and hearing shall be held pursuant to Sections 6.608 and 6.609. In the event that the district has constructed any improvements, an amount of assessment equal to the amount needed to maintain said improvements through its useful life, as determined by the City Clerk, shall continue to be levied upon each parcel in the district after dissolution of the district.
2. The City Council shall adopt an ordinance of intention to disestablish the district prior to the public hearing required by this section. The ordinance shall state the reason for the disestablishment, shall state 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 property and business improvement district. The public hearing shall be held not less than 30 or more than 60 days after the adoption of the ordinance of intention. Notice of the public hearing shall be published as provided in Section 6.609.
3. 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, other than amounts needed to maintain any improvements constructed by the district. 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.
4. Notice of the disestablishment of a district shall be published once in a newspaper of general circulation in the City, not later than 15 days after the ordinance disestablishing the district is adopted.
SECTION HISTORY
Added by Ord. No. 173,167, Eff. 5-15-00.