Upon receipt by the city of a petition signed by at least seventy-five (75) percent of the property owners and owners of seventy-five (75) percent of the total front footage of property abutting upon the streets and highways or portions thereof requested to be improved, the city will consider instituting the required procedures under the city charter and state statutes for the construction of such improvements and the levying of paving assessments against the abutting property for a portion of the cost of construction of such improvements.
(2002 Code, sec. 3.1101)
In the event that it is determined by the city to construct the requested improvements, it is hereby declared to be a policy of the city to pay for one-third (1/3) of the total cost of construction of such improvements and to levy paving assessments for the remaining two-thirds of the cost of such improvements against the owners of property abutting upon the streets and highways or portions thereof proposed to be improved, so that the property abutting upon each side of the street or highway shall be assessed one-third (1/3) of the total cost of the construction of such improvements.
(2002 Code, sec. 3.1102)
The city council shall determine the method of paying for such paving assessments and will levy such paving assessments under the provisions of the city charter and V.T.C.A., Transportation Code, chapter 311.
(2002 Code, sec. 3.1103)
A separate fund, within the city's fund structure, shall be created as of the effective date of the division, known as the street maintenance fund, for the purpose of maintenance of the city's transportation system.
(Ordinance 2019-09-35 adopted 9/16/19)
The source of funds for the street maintenance fund shall be the city's maintenance and operations (M&O) tax revenue. For each $1.00 collected from the city's M&O tax revenue in a given tax year, $0.025 shall be appropriated to the street maintenance fund. Should any conflict arise between this section and the city's duly adopted annual budget in any given tax year, the adopted budget shall control.
(Ordinance 2019-09-35 adopted 9/16/19)
Street maintenance fund revenue shall be used only for maintenance and operations costs of the city's transportation infrastructure. Funds from sources other than the designated portion of the M&O tax revenue may be deposited into the street maintenance fund.
(Ordinance 2019-09-35 adopted 9/16/19)