§ 17B-2a-1303 — Governing document.

(1) The sponsors of a petition filed under Subsection 17B-1-203(1)(d) to create an infrastructure financing district may include with the petition a governing document.
(2) A governing document may contain provisions for the governance of the infrastructure financing district, consistent with this part, including:
(2)(a) for a residential district, milestones or events that will guide the board in considering modifications to division boundaries to ensure that each division has as nearly as possible the same number of registered voters;
(2)(b) a provision allowing a property owner within the infrastructure financing district to make recommendations, in proportion to the amount of the owner's property in relation to all property within the infrastructure financing district, for individuals to serve as appointed board members; and
(2)(c) any other provisions or information that petition sponsors or the board considers necessary or advisable for the governance of the infrastructure financing district.
(3) A governing document shall:
(3)(a) include a description of infrastructure that the infrastructure financing district will provide funding for;
(3)(b) include, for a residential district, a provision for a transition from an appointed board position, whether at large or for a division, to an elected board position, based upon milestones or events that the governing document identifies;
(3)(c) if applicable, include a copy of a development agreement that has been executed relating to infrastructure to be developed within the boundary of the infrastructure financing district and for which the infrastructure financing district anticipates providing funding; and
(3)(d) if applicable, describe a designated expansion area.
(4) (4)(a) An area may not be designated as a designated expansion area unless the area is contiguous to the original district boundary.
(4)(b) An area may not be annexed to an infrastructure financing district unless the area is within the designated expansion area that is described in a governing document that is included and submitted with the petition to create the infrastructure financing district.

Legislative History

Enacted by Chapter 388, 2024 General Session