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The respective provisions of any Subdivision of Subarticle V pursuant to which said proceedings are undertaken to the contrary notwithstanding, no assessment or diagram shall be made, heard, levied or recorded, nor shall any amount of annual levies proposed to be made pursuant hereto be or become payable prior to their levy as herein provided.
(Added by Ord. 225-81, App. 5/5/81)
When the Board proposes to issue bonds pursuant to this Subdivision, its shall so declare in the resolution of intention pursuant to which the bonds are to be issued, the maximum term for which the bonds of any series of the issue may be issued, and the maximum rate of interest they may bear, and that bonds will be issued pursuant to this Subdivision.
(Added by Ord. 225-81, App. 5/5/81)
In addition to the matters required by Section 250.373 of this Subdivision, the resolution of intention shall contain a statement of the formula or formulae upon and by which annual assessment levies for the payment of said bonds and the interest thereon will be apportioned according to benefits among the several lots and parcels of land within the assessment district to be established therefor.
(Added by Ord. 225-81, App. 5/5/81)
At the hearing provided for establishing the assessment district pursuant to any Subdivision of Subarticle V of the Procedure Code, property owners may protest against and be heard as to the equitableness and fairness of said formula or formulae in the same manner, at the same time and with like legal effect, as provided for other protests in said proceedings.
(Added by Ord. 225-81, App. 5/5/81)
At the hearing provided in Section 250.375 of this Subdivision, the Board, of its own volition or in response to any protest made, heard or considered, may make modifications in the formula or formulae for the purpose of making the same more fair and equitable; provided, however, that before making a final order in said matter it shall set said matter for hearing at a subsequent meeting of said Board, which it shall call or to which it may adjourn; provided, further, that it shall give notice of the time, place and purpose of said meeting, by one publication in the newspaper in which original resolution of intention or notice of improvement was published, at least 10 days prior to said hearing.
(Added by Ord. 225-81, App. 5/5/81)
At the initial hearing or at the subsequent hearing on the modification of said formula or formulae or at any meeting to which either shall have been adjourned, or at any meeting of the Board subsequent to the full hearing of said matter, with or without said matter having been submitted, the Board, by resolution, shall finally adopt a formula or formulae for the apportionment of benefits in said annual levies, which shall be that stated in the resolution of intention, or as modified, and its determination shall be final and conclusive against all persons excepting persons whose protests for grounds stated therein have been denied and who have brought action therefor, within 30 days following said determination, in the local superior court.
(Added by Ord. 225-81, App. 5/5/81)
If, at any time following the final establishment of the formula or formulae for said annual levies, the Board shall, by resolution, determine that, by reason of changed conditions or because of defects or insufficiencies therein disclosed by its application, an established formula or formulae is, in any particular, inequitable or unfair, or may be made more equitable and fair, the Board may, by resolution, so declare, stating the grounds therefor, and fix a time and place of hearing thereon.
(Added by Ord. 225-81, App. 5/5/81)
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