A. At any time either before or after the formation of a Community Taxing District, the Council may accept advances of funds or work in-kind from any source, including, but not limited to, private persons or private entities, and may provide for the use of those funds or that work in-kind for any authorized purpose, including, but not limited to, paying any cost incurred by the City in creating a Community Taxing District. The Council may enter into an agreement with the person or entity advancing the funds or work in-kind to repay all or a portion of the funds advanced, or to reimburse the person or entity for the value, or cost whichever is less, of the work in-kind, as determined by the Council, with or without interest, under all of the following conditions:
1. The proposal to repay the funds or the value or cost of the work in-kind, whichever is less, is included in the resolution of intention or the ordinance of formation to establish the District, or in the resolution of consideration to alter the types of facilities and services provided within an established District;
2. Any proposed special tax or change in special tax is approved by the qualified electors of the District pursuant to this Chapter. Any agreement may specify that if the qualified electors of the District do not approve the proposed special tax or change in a special tax, the local agency shall return any funds that have not been committed for any authorized purpose by the time of the election to the person or entity advancing the funds;
3. Any work in-kind accepted pursuant to this section shall have been found to be performed or constructed in compliance with applicable City building codes and standards.
B. No agreement shall pursuant to this Section constitute a debt or liability of the City.
SECTION HISTORY
Added by Ord. No. 177,051, Eff. 11-20-05.