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(a) The expense incurred in the construction or operation of any improvement or provision of additional services in a district pursuant to this chapter shall be financed in accordance with the district plan upon which the establishment or extension of the district was based. Services for which district property owners are charged pursuant to the plan must be in addition to or an enhancement of those provided by the city prior to the district's establishment. The expense and cost apportioned to benefited real property in accordance with the plan shall be a charge upon each benefited parcel of real property within the district.
(b) The charge upon benefited real property pursuant to this chapter shall be imposed as provided in the district plan. If the formula includes an ad valorem component, this component shall be determined by the assessed value of each parcel as entered on the latest completed assessment roll used by the city for the levy of general city taxes. The charge shall be determined, levied and collected in the same manner, at the same time and by the same officers, as general city taxes are levied and collected.
(c) When a district has been established pursuant to this chapter, the city may, for the purpose of providing funds for making capital improvements within such district, issue and sell bonds or other municipal obligations as provided in the local finance law and other applicable laws and statutes. Principal and interest payments on these bonds or other municipal obligations may be made in whole or in part from the proceeds of charges imposed upon benefited real property within the district.
(a) The aggregate amount of outstanding indebtedness that is incurred to provide funds for capital improvements pursuant to this chapter shall be chargeable against the city's constitutional debt limit and may not exceed ten percent of the amount allowable under that limit. The aggregate amount of outstanding indebtedness that is incurred to provide funds for capital improvements pursuant to this chapter and that is chargeable against the property within the district may not exceed seven percent of the average full valuation of taxable real property in the district.
(b) The district charge, exclusive of debt service, levied in a given year against real property in a district may not exceed twenty percent of the total general city taxes levied in that year against the taxable real property in the district. The district charge so levied shall be included in the total amount, if any, that the city is permitted by law to raise in that year by a tax on real property.
(a) The proceeds of any charge imposed pursuant to this chapter shall be held by the comptroller and shall be separately accounted for in the books and records of the city. None of the proceeds collected pursuant to this chapter shall be used for any purposes other than those set forth in the district plan. These funds may be paid out for district purposes in accordance with the general procedures for payment of other city expenditures.
(b) All contracts for improvements, goods or services to be provided in the district shall be subject to all applicable provisions of the law relating to the letting of contracts by the city.
(a) There shall be a district management association for each district established pursuant to the provisions of this chapter (which shall pursuant to the not-for-profit corporation law have one or more classes of membership, voting or nonvoting) for the purpose of carrying out such activities as may be prescribed in the plan. Notwithstanding any inconsistent provision of paragraph (e) of section six hundred eleven of the not-for-profit corporation law, the certificate of incorporation or by-laws of such association shall provide for voting representation of owners of property and tenants within the district, and may provide that the votes of members who are property owners be weighted in proportion to the assessment levied or to be levied against the properties within the district, provided that in no case shall the total number of votes assigned to any one such member or to any number of such members under common ownership or control exceed thirty-three and one-third percent of the total number of votes which may be cast.
(b) The board of directors of the association shall be composed of representatives of owners and tenants within the district, provided, however, that not less than a majority of its members shall represent owners and provided further that tenants of commercial space and dwelling units within the district shall also be represented on the board. The board shall include, in addition, four members, one member appointed by each of the following: the mayor, the comptroller, the borough president of the borough in which the district is located and the council member representing the council district in which the proposed district is located, or if the proposed district is located in more than one council district, by the speaker of the city council after consultation with the council members representing the council districts in which the proposed district is located. The additional four members shall serve as the incorporators of the association pursuant to the not-for-profit corporation law. The association may be incorporated prior to the effective date of any district established pursuant to this chapter.
(c) In addition to such other powers as are conferred on it by law, the district management association may make recommendations to the city council with respect to any matter involving or relating to the district.
(d) For such consideration as it may deem appropriate and consistent with the powers granted pursuant to section 25-404 of this chapter, the city council may license or grant to the district management association the right to undertake or permit commercial activities or other private uses of the streets or other parts of the district in which the city has any real property interest.
Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 1990/082.
(a) 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 dissolved by local law of the city council upon its own motion or upon the written petition of (1) the owners of at least fifty-one percent or more of the total assessed valuation of all benefited real property included in the boundaries of the district and (2) at least fifty-one percent of the owners of benefited real property within the area included in the district. The city council shall request and consider the recommendations of the district management association concerning any proposed dissolution; provided that if the association has not submitted recommendations to the city council within sixty days after request therefor, the city council may adopt any such proposed dissolution without consider- ing such recommendations. In the event of dissolution, all assets of the district shall revert to the city.
(b) A certified copy of the order of dissolution shall be filed with the state comptroller at Albany, New York.
Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 1990/082.
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