A. After the adoption of the resolution ordering work, the engineer shall proceed to estimate as to all lots and parcels of land within the assessment district, as shown by the diagram map, the benefits arising from such work, and to be received by each such lot or parcel of land. He shall thereupon prepare an assessment roll for submission to the Mayor and Common Council for confirmation by resolution, which assesses upon and against the lands in the assessment district the total amount of the costs and expenses of such work and/or the cost of management administration, maintenance or operation of the improvement, if any, for the first year or for the term of the assessment. Such roll shall assess the total sum upon, the several lots or parcels of land in the assessment district benefited thereby, in proportion to the estimated benefits to be received by each of the several lots or parcels of land within the district or within each zone included in the district, if any.
B. Method of determining the assessment benefit. The method of determining the assessment benefit to be received by each of the said several lots or parcels of land within the district and/or zone shall be set forth in the resolution of intention, which may include but shall not be limited to, land area, assessed valuation of real property, assessed valuation of land only or number of lots or parcels.
C. Assessment computation. The annual assessment provided for in this section shall be computed on the basis of the formula set forth in the resolution of intention originally adopted or as modified by subsequent change and modification or other proceedings conducted pursuant to this Chapter or any other law, and the limitations upon the rate or period thereof provided in the Act (as defined in Section 12.90.040 Subsection B, Paragraph 11) shall not apply. If the assessed value of any parcel of property does not appear on the tax roll, an estimated assessed value of such parcel shall be made by the Director of Development Services in consultation with the County Assessor, and such estimate shall for purposes of such ad valorem assessment be considered the assessed value of such parcel.
D. Subsequent year assessments. Except as otherwise provided by the issuance of bonds, the cost for the improvement and/or acquisition or management, administration. maintenance or operation of the improvement, if any, for any subsequent fiscal year during which an assessment is to be levied and collected within the assessment district pursuant to this Chapter, shall be accomplished by preparing an assessment roll for submission to the Mayor and Common Council for confirmation by resolution for each fiscal year in which the assessment is to be levied and collected, and shall constitute the levy of an assessment for the fiscal year referred to in the assessment. When a bond issue funds the costs involved, such assessments shall be levied and collected as specified in the bond authorizing resolution or ordinance.
(Ord. MC-1027, 9-09-98; Ord. MC-150, 4-07-82)