9-55-12. Establishment or rejection of districts--Adoption of ordinance establishing district--Contents. The governing body, following a hearing held pursuant to subdivision 9-55-7(2), may establish or reject any proposed district or districts. If the governing body decides to establish a district, it shall adopt an ordinance to that effect. The ordinance shall contain the following information:
(1) The number of the resolution of intent and the date it was adopted;
(2) The time and place of the hearing that was held on the formation of such district;
(3) A statement that a business improvement district has been established pursuant to the provisions of this chapter;
(4) The purposes of the district and the public improvements and facilities to be included in such district;
(5) The description of the boundaries of such district;
(6) A statement that the businesses and professions in the district shall be subject to the general business occupation tax or that the real property in the area will be subject to the special assessment authorized by § 9-55-2;
(7) The proposed method of assessment to be imposed on the property within the district or the initial rate of the occupation tax to be imposed on the business users of the space in the district; and
(8) Any penalties to be imposed for failure to pay the occupation tax.Source: SL 1986, ch 81, § 12.
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