The City Council shall consider creation of an economic improvement district whenever owners of the properties file with the City Recorder a petition for the establishment of a district containing the signatures of the owners of 33% or more of the area of the assessed value of subject properties within the proposed district, or when the City Council, on its own motion, decides to undertake the consideration of the district. Any petition filed by the owners as set forth above shall contain a proposed economic improvement plan. If the Council, on its own motion, decides to consider such a district, it shall instruct the city staff to prepare the economic improvement plan.
(Prior Code, § 36.02) (Ord. 1161, passed 3-20-2000)