2006 Alabama Code - Section 11-54B-8 — Costs of supplemental services.

A self-help business improvement district ordinance shall provide that all costs of the supplemental services provided in a business improvement district will be financed through the levy of a special assessment on the owners of the real property located within the geographical area of the district and shall designate the method set forth in the plan as the method which will be used to determine the amount of such special assessment in a manner which fairly and equitably distributes the burden of financing the supplemental services among the real property owners in the district. Such ordinance shall list and describe, by lot and block numbers and by street addresses, all real properties against which the special assessment will be made to fund such supplemental services. Such ordinance shall also provide that all real property located within the geographical area of the district which is (1) owned by an organization which is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, (2) single-family, owner-occupied residential property, or (3) held exclusively for lease or rental as a principal single-family or multi-family residence, shall be exempt from the special assessment imposed by the district management corporation to finance the supplemental services provided in the business improvement district.

(Acts 1994, No. 94-677, §8.)