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91A.560 Petition requesting formation of management district.
(1)
(2)
A city may initiate proceedings to establish a management district upon receipt
by the mayor of a written petition requesting the formation of a management
district. A petition requesting the formation of a management district shall
contain:
(a) The signatures and addresses of a number of real property owners, who
together are the owners of fifty-one percent (51%) or more of the
properties within the proposed district and who are the owners of real
property equal to at least fifty-one percent (51%) of the assessed value of
property within the proposed management district;
(b) An accurate description of the boundaries of the proposed management
district;
(c) An economic improvement plan that shall provide:
1.
A description of the economic improvements to be provided within
the district;
2.
A preliminary estimate of the annual costs of the proposed
economic improvements; and
3.
The proposed method of assessing the costs of the economic
improvements against the properties;
(d) The proposed makeup of the board of the management district, its
powers and duties; and
(e) The number of years in which the assessments are proposed to be
levied, not to exceed five (5) years.
When a petition satisfying the requirements of subsection (1) of this section is
received by the mayor, he shall forward it to the legislative body which may
proceed to enact an ordinance establishing a management district as provided
in KRS 91A.565.
History: Created 1990 Ky. Acts ch. 226, sec. 3, effective July 13, 1990.
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