§ 33.05 OFFICIAL DEPOSITORIES; DISBURSEMENT OF CITY FUNDS.

   (A)   The Mayor shall designate as the city’s official depositories one or more banks, federally insured savings and loan companies or trust companies within the Commonwealth. The amount of funds on deposit in an official depository shall be fully insured by deposit insurance or surety bonds.

   (B)   All receipts from any source of city money or money for which the city is responsible, which has not been otherwise invested or deposited in a manner authorized by law, shall be deposited in official depositories. All city funds shall be disbursed by written authorization approved by the Mayor which states the name of the person to whom funds are payable, the purpose of the payment, and the fund out of which the funds are payable. Each authorization shall be numbered and recorded.

(KRS 91A.060)

§ 33.06 STANDARDS FOR COMPETITIVE BIDDING.

   Whatever federal funding is to be used in any city project, the city shall use the Construction Contract Letting and Contract Award Procedures set forth in 23 C.F.R. 635.

(Ord. 2009-10, passed 10-5-2009)

IMPROVEMENTS

§ 33.10 DEFINITIONS.

   As used in this subchapter, unless the context otherwise requires, the following definitions shall apply:

   ASSESSED VALUE BASIS. The apportionment of cost of an improvement according to the ratio the assessed value of individual parcels of property bears to the total assessed value of all such properties.

   BENEFITS RECEIVED BASIS. The apportionment of cost of an improvement according to equitable determination by Council of the special benefit received by property from the improvement, including assessed value basis, front foot basis and square foot basis, or any combination thereof, and may include consideration of assessed value of land only, graduation for different classes of property based on nature and extent of special benefits received, and other factors affecting benefits received.

   COST. All costs related to an improvement, including planning, design, property or easement acquisition and construction costs, fiscal and legal fees, financing costs and publication expenses.

   FAIR BASIS. Assessed value basis, front foot basis, square foot basis or benefits received basis.

   FRONT FOOT BASIS. The apportionment of cost of an improvement according to the ratio the front footage on the improvement of individual parcels of property bears to such front footage of all such properties.

   IMPROVEMENT. Construction of any facility for public use or services or any addition thereto, which is of special benefit to specific properties in the area served by the facility.

   PROPERTY. Any real property benefitted by an improvement.

   SPECIAL ASSESSMENT or ASSESSMENT. A special charge fixed on property to finance an improvement in whole or in part.

   SQUARE FOOT BASIS. The apportionment of cost of an improvement according to the ratio the square footage of individual parcels of property bears to the square footage of all such property.

(KRS 91A.210)

§ 33.11 FINANCING OF IMPROVEMENTS.

   (A)   The city may not finance any improvement in whole or in part through special assessments except as provided in this subchapter and in any applicable statutes.

(KRS 91A.200)

   (B)   Cost of an improvement shall be apportioned equitably on a fair basis.

   (C)   The city may provide for lump sum or installment payment of assessments or for bond or other long-term financing and for any improvement may afford property owners the option as to method of payment or financing.

(KRS 91A.220)

Statutory reference:

   Improvements; alternate methods, see KRS Ch. 107

§ 33.12 APPORTIONMENT OF COST.

   The cost of any improvement shall be apportioned on a benefits received basis with respect to any property owned by the state, a local unit of government or any educational, religious or charitable organization. Council may assess the property in the same manner as for privately owned property or it may pay the costs so apportioned out of general revenues.

(KRS 91A.230)

§ 33.13 COMPREHENSIVE REPORT REQUIRED.

   Before undertaking any improvements pursuant to this subchapter, the city shall prepare a comprehensive report setting out:

   (A)   The nature of the improvement;

   (B)   The scope and the extent of the improvement, including the boundaries or other description of the area to be assessed;

   (C)   The preliminary estimated cost of the improvement;

   (D)   The fair basis of assessment proposed;

   (E)   If financing of assessments is provided, the proposed method, including the proposed years to maturity of any bonds to be issued in connection with the improvement; and

   (F)   Such other information as may further explain material aspects of the improvement, assessments or financing.

(KRS 91A.240)

§ 33.14 PUBLIC HEARING REQUIRED.

   (A)   After preparation of the report required by § 33.13, the city shall hold at least 1 public hearing on the proposed improvement at which all interested persons shall be heard.

   (B)   Notice of the hearing shall be published pursuant to KRS Chapter 424, and mailed to each affected property owner by certified mail, return receipt requested, and shall include:

      (1)   The nature of the improvement;

      (2)   Description of area of the improvement;

      (3)   Statement that the city proposes to finance the improvement in whole or in part by special assessment of property and the method to be used;

      (4)   Time and place the report may be examined; and

      (5)   Time and place of the hearing.

(KRS 91A.250)