A publicly owned lot or parcel of land which has been included within the boundaries of a maintenance benefit area in the manner provided in Section 3.128.450 of this chapter may be withdrawn from said area by the owner thereof at the end of any fiscal year of the city. Said withdrawal shall not be effective unless the owner shall have given the city council written notice of its intent to do so not later than seventy-five (75) days prior to the end of said fiscal year. (Prior code § 55.07.703)