2006 Utah Code - 17A-3-313 — Amount and payment of assessment.

     17A-3-313.   Amount and payment of assessment.
     (1) Assessments for improvements in a special improvement district may not in the aggregate be greater than the sum of:
     (a) the contract price;
     (b) (i) the reasonable cost of:
     (A) utility services, maintenance, and operation to the extent permitted by Section 17A-3-314; and
     (B) labor, materials, or equipment supplied by the municipality; or
     (ii) the reasonable cost of economic promotion activities;
     (c) the property price, if any;
     (d) the connection fees, if any;
     (e) interest on interim warrants issued against the special improvement district;
     (f) overhead costs not to exceed 15% of the sum of Subsections (a), (b), (c), and (d);
     (g) if the assessment is levied before all of the improvements in the district are entirely completed and accepted, an amount for contingencies of not more than 10% of the sum of Subsections (a) and (b); and
     (h) if the governing body has elected to create and fund a separate reserve fund for the bond issue as provided in Section 17A-3-335, an amount sufficient to fund the reserve fund.
     (2) The municipality shall pay the following costs from its general fund, from improvement revenues not pledged to the payment of special improvement bonds, or from other sources legally available for those purposes:
     (a) that part of the overhead costs for which an assessment cannot be levied;
     (b) if assessments are levied before 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.

Amended by Chapter 47, 1991 General Session