(a) Within sixty days of the effective date of this section (Ordinance 27A, passed December 12, 1986), the City Assessor shall prepare the initial base year assessment roll. The initial base year assessment roll shall list each taxing jurisdiction in which the Development Area is located, the initial assessed value of the Development Area on the effective date of this section and the amount of tax revenue derived by each taxing jurisdiction from ad valorem taxes on the property in the Development Area.
(b) The Assessor shall transmit copies of the initial base year assessment roll to the City Treasurer, the County Treasurer, the Downtown Development Authority and each taxing jurisdiction, together with a notice that the assessment roll has been prepared in accordance with this chapter and the Tax Increment Financing Plan contained in the Development Plan approved by this chapter.
(Ord. 27A. Passed 12-15-86.)