(1)Local
improvement districts may be established pursuant to the provisions of this section.
(2)The board of a service authority may establish local improvement
districts within the boundaries of the service authority either by:
(a)Resolution of the board, subject to protest by the owners of a majority of
all property benefited and constituting the basis of assessment as the board may
determine; or
(b)Petition by the owners of a majority of all property benefited and
constituting the basis of assessment in the proposed district.
(3)In either event, a public hearing shall be held at which all interested
parties may appear and be heard. Right to protest and notice of public hearing shall
be given as provided by the resolution of the board.
(4)The board has the power by res
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(1) Local
improvement districts may be established pursuant to the provisions of this section.
(2) The board of a service authority may establish local improvement
districts within the boundaries of the service authority either by:
(a) Resolution of the board, subject to protest by the owners of a majority of
all property benefited and constituting the basis of assessment as the board may
determine; or
(b) Petition by the owners of a majority of all property benefited and
constituting the basis of assessment in the proposed district.
(3) In either event, a public hearing shall be held at which all interested
parties may appear and be heard. Right to protest and notice of public hearing shall
be given as provided by the resolution of the board.
(4) The board has the power by resolution to prescribe the method of making
such improvements, of assessing the cost thereof, and of issuing bonds for cost of
constructing or installing such improvements, including the costs incidental
thereto.
(5) Decisions of the board concerning the formation of a local improvement
district are not subject to review unless action is instituted by an eligible elector of
the service authority or owner of property within the local improvement district
within forty-five days after passage of the resolution to form the improvement
district, and any review shall extend only to the question of whether the board
exceeded its jurisdiction or abused its discretion. If a court so finds, it shall remand
the matter to the board for further proceedings, consistent with such findings.
(6) (a) Where all outstanding bonds of a local improvement district have been
paid and any moneys remain to the credit of such district, they shall be transferred
to a special surplus and deficiency fund, and whenever there is a deficiency in any
local improvement district fund to meet the payments of outstanding bonds and
interest due thereon, the deficiency shall be paid out of said surplus and deficiency
fund.
(b) Whenever a local improvement district has paid and canceled three-fourths of its bonds issued, and for any reason the remaining assessments are not
paid in time to retire the remaining bonds of the district and the interest due
thereon, and there are not sufficient moneys in the special surplus and deficiency
fund, then the service authority shall pay said bonds when due and the interest due
thereon and reimburse itself by collecting the unpaid assessments due said local
improvement district.
(7) (a) In consideration of general benefits conferred on the service authority
at large or on a special taxing district within the service authority, as the case may
be, by the construction or installation of improvements in a local improvement
district, the board may levy annual taxes on all taxable property within the service
authority or within the special taxing district, as the case may be, at a rate not
exceeding four mills in any one year, to be disbursed as determined by the board for
the purpose of paying for such general benefits, for the payment of any assessment
levied against the service authority or special taxing district, as the case may be, in
connection with bonds issued for local improvement districts, or for the purpose of
advancing moneys to maintain current payments of interest and equal annual
payments of the principal amount of bonds issued for any local improvement
district.
(b) The proceeds of such taxes shall be placed in a special fund and shall be
disbursed only for the purposes specified; except that, in lieu of such tax levies, the
board may annually transfer to such special fund any available moneys of the
service authority or of the special taxing district, as the case may be, but in no event
shall the amount transferred in any one year exceed the amount which would result
from a tax levied in such year as limited in this section.