(a)To establish a C-PACER program under this chapter, the local government must act in the following order:
(1)Adopt a resolution of intent that includes:
(A)A finding that the financing of qualified projects through special assessments is a valid public purpose;
(B)A statement that the local government intends to authorize direct financing between property owners and capital providers as the means to finance qualified projects;
(C)A statement that the local government intends to authorize special assessments, entered into voluntarily by a property owner with the local government by means of the written assessment contract, as the means to repay the financing for qualified projects available to property owners;
(D)A description of the types of qualified projects that may be subject t
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(a) To establish a C-PACER program under this chapter, the local government must act in the following order: (1) Adopt a resolution of intent that includes: (A) A finding that the financing of qualified projects through special assessments is a valid public purpose; (B) A statement that the local government intends to authorize direct financing between property owners and capital providers as the means to finance qualified projects; (C) A statement that the local government intends to authorize special assessments, entered into voluntarily by a property owner with the local government by means of the written assessment contract, as the means to repay the financing for qualified projects available to property owners; (D) A description of the types of qualified projects that may be subject to special assessments; (E) A description of the boundaries of the region; (F) A description of any proposed arrangements for administration of the program, including administration pursuant to this chapter, to be available; (G) A description of local government debt-servicing procedures if a third party is responsible for servicing the installment payments on the C-PACER financing, unless delegated pursuant to § 68-205-107(b) ; (H) A statement of the time and place for a public hearing on the proposed program as required in subdivision (a)(2); and (I) A statement identifying the appropriate local official and the county tax collector for consulting about the collection of proposed special assessments with property taxes imposed on the assessed property; (2) Hold a hearing for the public to comment on the proposed program; and (3) Adopt a resolution establishing the program and its terms. (b) Subject to the terms of the resolution establishing the program as provided in subdivision (a)(3), the local government may amend a program by resolution. (c) A local government or its designee, including the program administrator, is authorized to impose fees to offset the actual and reasonable costs of administering a program. The fees may be assessed as part of the program application, to be paid by the property owner requesting to participate in the program. Service fees of approved applications must be calculated as one percent (1%) of the total amount financed, not to exceed fifty thousand dollars ($50,000). Service fees retained by a local government or its designee must be placed into a reserve account and utilized for the local government and assessor-related costs if the local government chooses to exercise its authority under § 68-205-107(d) . If the local government does not choose to exercise its authority under § 68-205-107(d) , then the funds must be placed into an account designated by the local government or its designee.