2006 Utah Code - 17A-3-213 — Amount of assessment -- Payment from general funds.

     17A-3-213.   Amount of assessment -- Payment from general funds.
     (1) Assessments for improvements in a special improvement district shall not in the aggregate exceed the sum of the following:
     (a) the construction contract price or prices, if more than one;
     (b) the reasonable cost of utility, water, drainage, and sewer services, connections and relocations, maintenance, labor, materials, or equipment supplied by the governing entity or any other governmental authority;
     (c) all property prices, if any;
     (d) connection fees, if any;
     (e) interest on interim warrants issued against the special improvement district and interest on any bonds issued;
     (f) overhead costs not to exceed 40% of the sum of Subsections (a), (b), (c), and (d);
     (g) if the assessment is levied prior to the time all of the improvements in the district are entirely completed and accepted, an amount for contingencies of not to exceed 10% of the sum of Subsections (a) and (b);
     (h) one-half the cost of grading changes as set forth in Section 17A-3-214; and
     (i) if the governing body has elected to create and fund a separate reserve fund for the bond issue as provided in Section 17A-3-233, an amount sufficient to fund the reserve fund.
     (2) The governing entity shall pay from its general funds or from other sources legally available for this purpose:
     (a) that part of the overhead costs for which an assessment cannot be levied;
     (b) if assessments are levied prior to the time all improvements in the district are entirely completed, all costs of making the improvements for which an assessment was not levied; and
     (c) the cost of making improvements for the benefit of property against which an assessment may not be levied.

Renumbered and Amended by Chapter 186, 1990 General Session