Definitions.
The following words, terms and phrases,
when used in this chapter, shall have the meanings ascribed to them
in this section, except where the context clearly indicates a different
meaning:
City Manager
means the City Manager of the City, his designee or the City
Finance Director.
Costs of an improvement
or any similar term means all capital costs incurred in connection
with any improvement authorized, including, but not limited to, land
acquisition costs, architectural, engineering and inspection fees,
soil testing expenses and consulting charges, acquisition, construction
or installation costs pertaining to any improvement, allowances for
contingencies, legal and other professional fees, the costs of issuing
any bonds to finance any improvement, bond printing discount or reserve
costs, interest costs, and any related costs necessary to or relating
to the levy of special assessments to pay for any of the foregoing.
District
means a public improvement district.
Interested party
means a landowner or interested person as further defined
in this chapter.
Landowner
means any person who is the owner in fee of any undivided
interest in real property or any improvements permanently affixed
thereto. As used in this definition, “owner in fee” includes
a contract purchaser of real property obligated to pay general taxes,
an heir of a deceased owner, or a devisee of a deceased owner under
a will admitted to probate, but does not include a contract seller
of property with respect to which the contract purchaser is deemed
to be the owner.
Mailed notice
means notice by certified or registered first class postage
prepaid United States mail within the time required for notice.
Net effective interest rate
means the net interest cost of securities divided by the
sum of the products derived by multiplying the principal amount of
the securities maturing on each maturity date by the number of years
from their date to their respective maturities. In all cases, net
effective interest rate shall be computed with regard to the approved
schedule of maturities or estimated mandatory redemptions.
Net interest cost
means the total amount of interest to accrue from the date
of securities to the date of maturity, less the amount of any premium
or plus the amount of any discount at which such bonds or securities
are being or have been sold. In all cases, net interest cost shall
be computed with regard to the approved schedule of maturities or
redemptions.
Posted notice
means notice by continuous posting for three days at City
Hall prior to the event to which the notice relates.
Published notice
means notice by publication in a newspaper of general circulation
within the City one time by one publication not more than 30 days
nor less than 10 days prior to the event to which the notice relates.
Special benefit
means a benefit to a particular property within a district
separate and apart from general benefits to the City as a whole, which
may include, but is not limited to, the following:
(1)
Any increase in the market value of the property;
(2)
Any adaptability of the property to a superior or more profitable
use;
(3)
Any increase in convenience or reduction in inconvenience accruing
to a particular property owner, including the facilitation of access
to a residence or a commercial establishment; or
(4)
Any increase in patronage of a commercial establishment due
to the availability of additional, better located, or less expensive
access/parking.
Street
means and includes avenues, boulevards and other highways.