§ 8-9.104. Advance and Reimbursement of Formation Costs.

(a)

The City Council may authorize a District formed pursuant to this chapter to recover through assessments the costs incurred in forming the District, including:

(1)

The costs of preparation of the management plan and engineer's report required by state law;

(2)

The cost of circulating and submitting the petition to the City Council seeking establishment of the District;

(3)

The costs of printing, advertising and the giving of published, posted or mailed notices;

(4)

Compensation of any engineer or attorney employed to render services in proceedings under this chapter or the PBID Law; and

(5)

Costs associated with any ballot proceedings required by law for approval of a new or increased assessment. If the District will be authorized to recover these costs, the management plan required pursuant to Streets and Highways Code Section 36622 shall specify the formation costs eligible for recovery through assessments, the schedule for recovery of those costs, and the basis for determining the amount of the additional assessment for recovery of costs, including the maximum amount of the additional assessment, expressed either as a dollar amount, or as a percentage of the underlying assessment.

(b)

The City may advance funds for the first year of a District so that the District can commence work prior to the initial collection of the assessments. The funds advanced will not exceed the total assessment for the first year. The funds advanced shall be repaid, with interest, within five (5) years of the collection of the first annual assessment.

(Ord. No. 3616-C.S., § 1, effective 6-5-15)