13.35.060 Contents of report.
The benefit district report shall contain:
A. A description of each parcel of land proposed to be included in the benefit district. Any parcel may be described by its county assessor’s parcel number as listed on the last equalized tax assessment roll or on current records of the county assessor.
B. The amount of the proposed special development assessment for each parcel. The special development assessment shall be proportional to the estimated benefit to each parcel from the assessment district improvements.
C. The development approval for which payment of the special development assessment is a precondition.
D. The time period within which the special development assessment will be collected shall not exceed fifteen years from the establishment of the fee as set by the benefit district report, unless a longer period is specified in the report.
E. The formula or method by which benefits within the benefit district are estimated. The method shall be based in proportion to estimated benefit to be received by each of the parcels in the benefit district from the assessment district improvements.
F. The terms by which the special development assessment will be escalated over time, if escalation of the assessment is proposed. The assessment may be escalated in one of the following ways:
1. An annual increment of interest may be added to the assessment, at an uncompounded rate not exceeding the net effective rate on bonds of the assessment district for the same year.
2. The assessment may be increased annually in proportion to a published index of construction costs applicable to improvements such as those in the assessment district.
G. The manner in which the special development assessment will be disbursed when collected. The assessment may be disbursed in one or more of the following ways, and may change over time:
1. Disbursement to the general fund or a designated special fund of the city.
2. Disbursement to the assessment district improvement fund, for use or distribution as provided by law.
3. Disbursement to owners within the assessment district in accordance with reimbursement or development agreements.
(Ord. 1826 NCS §1 (part), 1990.)