28-8524. Allocation of monies; sources; public hearing; reuse, development and capital improvement plans

A. Each member of the joint powers airport authority and any new member shall make a pro rata allocation of monies, as specified in the agreement described in section 28-8521, to the airport authority's operating budget from one or any combination of the following sources:

1. If the member is a city or town:

(a) An ad valorem tax levied by the governing body of the member within its jurisdiction.

(b) A transaction privilege tax levied by the governing body of the member within its jurisdiction.

2. If the member is a city, town or county:

(a) General monies of the member.

(b) Other monies legally available to the member.

B. The tax prescribed by subsection A of this section shall be designated as an airport authority tax. Any property tax levied pursuant to subsection A of this section shall be a secondary tax.

C. The governing body of each airport authority member shall hold a public hearing on both:

1. The question of whether to approve and adopt the annual operating budget of the airport authority.

2. The method of funding the member's annual budget allocation.

D. Notice of a public hearing held pursuant to this section shall be given in a newspaper of general circulation within the member's jurisdiction at least once a week for two weeks before the hearing.

E. On receipt of the recommendation of the airport authority board as to the budget allocation, each member shall consider the amount of monies legally available to it to fund its budget allocation before its determination of the amount of taxes it shall levy to meet its budget allocation.

F. The airport authority shall adopt and periodically amend a reuse and development plan and a capital improvements plan. Expenditures for or by the airport authority shall be both:

1. Consistent with the plans prescribed in this subsection.

2. Limited to those items that directly relate to or benefit the operation and development of the airport and the airport authority.

G. Any member of the airport authority that fails or refuses to approve and adopt the operating budget for the airport authority shall withdraw from membership in the airport authority as provided in section 28-8525. The remaining members and any new members of the airport authority are responsible for the total operating budget as adopted and shall make their allocation as prescribed in subsection A of this section.