For the purposes of this title, the following words shall have the following meanings:
“Actual costs of improvements”
means the known costs of an L.I.D. after completion of construction and when all related costs have been ascertained.
“Assembly-initiated improvement district”
also known as “assembly-initiated L.I.D.” means an L.I.D. established and financed according to the provisions of AS 29.46.010 through 29.46.030 (except without issuance of special assessment bonds), along with such modifications of the provisions applicable to the city and borough as the assembly-initiated L.I.D. may enact by ordinance under its home rule powers. Descriptively, an assembly-initiated L.I.D. is initiated by the assembly, with notice given to the owners of the property within such district of their opportunity to object to the creation of such L.I.D.
“Assessment” or “assessments”
means the assessments appearing on each local improvement district assessment roll and shall include the installments thereof and any interest and penalties required to be paid thereon.
“Cost or costs of improvement”
includes all costs of the L.I.D. including but not limited to:
1. 
The cost of acquisition of materials and the cost of construction of the improvements, and
2. 
Reasonable allowance for contingencies, and
3. 
Acquisition, overhead, engineering, surveying, costs of issuing bonds, costs of mailing and publishing notice, legal and all other incidental costs.
“Current assessed value of all property within the district”
includes all property whether taxable or not. The value of property of the United States, the state of Alaska, the city and borough or any other public or private corporation, associate or individual whose property is not assessed for general taxes shall be computed according to the standards afforded by similarly situated property which is assessed for general taxes, and shall be included in determining the current assessed value of all the property within the district.
“Local improvement district,”
also known as “L.I.D.,” means a specific area within the city and borough specially benefited by any public improvements as may be authorized by law and that is established and financed by any of the procedures specified herein for assembly-initiated L.I.D.’s, petitioned L.I.D.’s, and special assessment districts. The term “L.I.D.” is a general term and includes any of the specific types of improvement districts as further defined in this section.
“Owner”
means all owners of legal title of record in the district recorder’s office at Sitka, Alaska, to each lot, tract, or parcel of land in any L.I.D., and in addition includes the purchasers of record of an equitable interest under a contract for deed, purchase contract or like instrument whereby legal title is delivered upon final payment. For the purposes of this title, trustees and beneficiaries of deeds of trust and real estate mortgages or leaseholders are not included in the definition of “owner.”
“Petitioned local improvement district,”
also known as “petitioned L.I.D.,” means an L.I.D. established and financed according to the provisions of AS 29.46.010 through 29.46.030, along with such modifications of the provisions applicable to the city and borough as the assembly may enact by ordinance under its home rule powers. Descriptively, a petitioned L.I.D. is initiated by a petition of the property owners within the proposed district requesting the acquisition, construction and/or installation of certain public improvements and containing a statement of the estimated cost thereof and the proposed payment terms, which is presented to the assembly for further action.
“Property”
means land and any improvements attached thereto.
“Special assessment districts”
means those assembly-initiated L.I.D.’s and petitioned L.I.D.’s for which the issuance of special assessment district bonds is authorized to pay part or all of the costs thereof. A duly created assembly-initiated L.I.D. or petitioned L.I.D. may be changed to a special assessment district as provided in SGC § 17.05.020(C).
(S.G.C. 17.04.010; S.C.C. 3-9-1; Ord. 74-163 § 3, 1974; Ord. 86-688 § 4, 1986)
A. 
L.I.D.’s. The assembly shall have the power to create and establish an L.I.D. for purposes of acquiring, installing, or constructing capital improvements, and to levy assessments against properties specially benefited thereby to pay part or all of the costs thereof according to the procedures set forth in AS 29.45.010 through 29.46.120, and as the same may be modified by ordinance of the city and borough.
B. 
Special assessment district bonds. To pay any part or all of the costs of improvements in any special assessment district, the assembly may include in the ordinance creating such special assessment district provisions authorizing the issuance and sale of bonds thereof. The principal of and interest on such bonds shall be payable solely from special assessments levied against the property in such district benefited by such improvements and from the local improvement guaranty fund of the city and borough, and the bonds and the ordinance authorizing them shall include (but not be limited to) provisions requiring the following:
1. 
That the assessments levied therein shall constitute a sinking fund for the payment of the principal of and interest on such bonds;
2. 
That the property benefited by such improvements may be pledged to secure such payment, and the lien so created thereon shall constitute a lien on such property junior only to real property taxes and any prior assessments.
C. 
Change of an existing L.I.D. to a special assessment district. At any time after an assembly-initiated or petitioned L.I.D. is created, if the assembly decides it is in the public interest to change the status of the existing district to a special assessment district and then issue special assessment district bonds, it may do so by ordinance; provided, however, that this may not be done in the case of petitioned L.I.D.’s where the petition provides that the assessments to be levied therein should all be paid in one payment due within six months of completion.
(S.G.C. 17.04.020; S.C.C. 3-9-2; Ord. 86-688 § 4, 1986)