As used in this Chapter, the following words and terms shall have the following meanings, unless the context clearly otherwise requires:

ANNUAL ASSESSMENT RESOLUTION means the resolution described in § 17-47 hereof approving an Assessment Roll for Capital Improvements in a specific Fiscal Year.

ANNUAL RATE RESOLUTION means the resolution described in § 17-37 approving an Assessment Roll for Essential Services in a specific Fiscal Year.

ASSESSED PROPERTY or ASSESSED PARCELS means all land and Tax Parcels included on an Assessment Roll and subject to Assessments imposed hereunder to fund the City's provision of Essential Services or Capital Improvements.

ASSESSMENT means a special assessment imposed by the City in an Assessment Area to fund Essential Services or Capital Improvements that provide a special benefit to the real property comprising the Assessment Area. The term "Assessment" shall include Capital Assessments and Service Assessments.

ASSESSMENT AREA means any of the areas created by resolution of the City Council hereunder that specially benefit from an Essential Service or Capital Improvement.

ASSESSMENT ROLL means the list of Assessed Parcels subject to the Assessments imposed hereunder. References herein to the term "Assessment Roll" shall include, as the context requires, any electronic spreadsheet or database maintained by the City containing a list of Assessed Parcels, the current principal balance imposed against such parcels, the number of Assessment Units attributed thereto and other related information, as well as the "non-ad valorem assessment roll" contemplated by the Uniform Assessment Collection Act which is certified to the Tax Collector for collection of annual installments of the Assessments in accordance therewith.

ASSESSMENT UNIT means the unit or criteria utilized to determine the Assessment for each parcel of property, as set forth in the Initial Assessment Resolution. "Assessment Units" may include, by way of example only and not limitation, one or a combination of the following: front footage, platted lots or parcels of record, vested lots, land area, improvement area, equivalent residential connections, permitted land use, trip generation rates, property value or any other characteristic or reasonably expected use of the property that has a logical relationship to the Essential Services or Capital Improvements to be funded from proceeds of the Assessment.

BUILDING means any structure, whether temporary or permanent, built for support, shelter or enclosure of persons, chattel or property of any kind. This term shall include mobile homes or any vehicles serving in any way the function of a building.

BUILDING PERMIT means an official document or certificate issued by the City, under the authority of ordinance or law, authorizing the construction or siting of any Building within the City. The term "Building Permit" shall also include set up or tie down permits for those structures or Buildings, such as a mobile home, that do not require a Building Permit in order to be constructed.

CAPITAL ASSESSMENT means a special assessment imposed by the City pursuant to this Chapter to fund Capital Improvements.

CAPITAL IMPROVEMENTS means capital improvements constructed or installed by the City for the special benefit of City residents and property owners, a neighborhood or other Assessment Area and funded in whole or in part through Assessments imposed hereunder.

CAPITAL COST means all or any portion of the expenses that are properly attributable to (i) the acquisition, design, construction, installation, reconstruction, renewal or replacement (including demolition, environmental mitigation and relocation) of Capital Improvements or the facilities, equipment or other capital items necessary or desirable for the provision of Essential Services, and (ii) imposition of the related Assessments under generally accepted accounting principles and including reimbursement to the City for any funds advanced for Capital Cost and interest on any interfund or intrafund loan for such purposes.

CITY means the City of Cape Coral, Florida.

CITY CLERK means the Clerk of the City.

CITY COUNCIL means the governing body of the City of Cape Coral, Florida.

CITY MANAGER means the chief administrative officer of the City, or such person's designee responsible for coordinating the imposition and collection of Assessments.

ESSENTIAL SERVICES means the services, facilities and programs provided by the City for the special benefit of City residents and property owners, a neighborhood or other Assessment Area and funded in whole or in part through Assessments imposed hereunder. Essential Services may include, but are not limited to, fire services, street lighting, solid waste, lot mowing, services related to ongoing maintenance or repair of capital facilities such as sidewalks, alleys and seawalls, or any other municipal service which may be funded through the imposition of Assessments under Florida law.

FINAL ASSESSMENT RESOLUTION means the resolution described in § 17-35 and § 17-45 hereof which shall confirm, modify, or repeal the Initial Assessment Resolution and which shall be the final proceeding for the imposition of an Assessment.

FISCAL YEAR means that period commencing October 1 of each year and continuing through the next succeeding September 30, or such other period as may be prescribed by law as the fiscal year for the City.

GOVERNMENT PROPERTY means property owned by the United States of America or any agency thereof, the State of Florida or any agency thereof, a county, a special district or a municipal corporation.

INITIAL ASSESSMENT RESOLUTION means the resolution described in § 17-31 and § 17-41 hereof which shall be the initial proceeding for the identification of the Essential Service or Capital Improvement for which an Assessment is to be made and for the imposition of an Assessment.

MAXIMUM ASSESSMENT RATE means the maximum rate of assessment established by the Final Assessment Resolution for the Essential Service or Capital Improvement which may be specified in terms of dollar amount per Assessment Unit, a percentage increase or by reference to a publicly available index such as the consumer price index.

OBLIGATIONS means bonds or other evidence of indebtedness including but not limited to, notes, commercial paper, capital leases, reimbursable advances by the City, or any other obligation issued or incurred to finance any portion of the Project Cost and secured, in whole or in part, by proceeds of the Assessments.

OWNER shall mean the Person reflected as the owner of an Assessed Parcel on the Tax Roll.

PERSON means any individual, partnership, firm, organization, corporation, association, or any other legal entity, whether singular or plural, masculine or feminine, as the context may require.

PLEDGED REVENUE means, as to any series of Obligations, (A) the proceeds of such Obligations, including investment earnings, (B) proceeds of the Assessments pledged to secure the payment of such Obligations, and (C) any other legally available revenue pledged, at the City Council's sole option, to secure the payment of such Obligations, as specified by the ordinance or resolution authorizing such Obligations.

PRELIMINARY RATE RESOLUTION" means the resolution described in § 17-37 hereof initiating the annual process for updating the annual Assessment Roll for an Essential Service and directing the reimposition of Service Assessments pursuant to an Annual Rate Resolution.

PRIOR ASSESSMENT PROCEDURE ORDINANCES means the following ordinance and any amendments thereto previously adopted by the City of Cape Coral and currently codified in the City Code of Ordinances which established procedures by which special assessments may be imposed, collected and administered: Chapter 5, Article II ½, Seawalls, Chapter 8, Article V, Fire Protection Assessments, Chapter 9, Article III½, Solid Waste Service Assessment, and Chapter 17, Public Improvements By Special Assessment.

PROJECT COST means (A) the Capital Cost, (B) the Transaction Cost associated with the Obligations which financed the Capital Cost, (C) interest accruing on such Obligations for such period of time as the City Council deems appropriate, (D) the debt service reserve fund or account, if any, established for the Obligations which financed the Capital Cost, and (E) any other costs or expenses related thereto.

PROPERTY APPRAISER means the Lee County Property Appraiser.

SERVICE ASSESSMENT means a special assessment imposed by the City pursuant to this Chapter to fund the Service Cost of Essential Services.

SERVICE COST means the amount necessary in any Fiscal Year to fund the provision of Essential Services and can include, but not be limited to: (A) the cost of physical construction, reconstruction or completion of any facility or improvement required for provision of the Essential Service; (B) the costs incurred in any required acquisition or purchase; (C) the cost of all labor, materials, machinery, and equipment; (D) the cost of fuel, parts, supplies, maintenance, repairs, and utilities; (E) the cost of computer services, data processing, and communications; (F) the cost of all lands and interest therein, leases, property rights, easements, and franchises of any nature whatsoever; (G) the cost of any indemnity or surety bonds and premiums for insurance; (H) the cost of salaries, volunteer pay, workers' compensation insurance, or other employment benefits; (I) the cost of uniforms, training, travel, and per diem; (J) the cost of construction plans and specifications, surveys and estimates of costs; (K) the cost of engineering, financial, legal, and other professional services; (L) the costs of compliance with any contracts or agreements entered into by the City relating to the provision of said services; (M) all costs associated with the structure, implementation, collection, and enforcement of the Assessments, including any service charges of the Tax Collector, or Property Appraiser, and delinquent amounts from prior impositions, and amounts necessary to off-set discounts received for early payment of Assessments pursuant to the Uniform Assessment Collection Act; (N) all other costs and expenses necessary or incidental to the acquisition, provision, or construction of the Essential Service to be funded by the Assessment, and such other expenses as may be necessary or incidental to any related financing authorized by the City Council by subsequent resolution; (O) an amount for contingencies and anticipated delinquencies and uncollectible Assessments; and (P) reimbursement to the City or any other Person for any moneys advanced for any costs incurred by the City or such Person in connection with any of the foregoing items of Service Cost.

TAX COLLECTOR means the Lee County Tax Collector.

TAX PARCEL means a parcel of real property to which the Property Appraiser has assigned a distinct ad valorem property tax identification number.

TAX ROLL means the real property ad valorem tax assessment roll maintained by the Property Appraiser for the purpose of the levy and collection of ad valorem taxes.

TRANSACTION COST means the costs, fees and expenses incurred by the City in connection with the issuance and sale of any series of Obligations, including but not limited to (A) rating agency and other financing fees; (B) the fees and disbursements of bond counsel; (C) the underwriters' discount; (D) the fees and disbursements of the City's financial advisor; (E) the costs of preparing and printing the Obligations, the preliminary official statement, the final official statement, and all other documentation supporting issuance of the Obligations; (F) the fees payable in respect of any municipal bond insurance policy; (G) administrative, development, credit review, and all other fees associated with any pooled commercial paper or similar interim financing program; and (H) any other costs of a similar nature incurred in connection with issuance of such Obligations.

UNIFORM ASSESSMENT COLLECTION ACT means F.S. §§ 197.3632 and 197.3635, as amended from time-to-time, or any successor statutes authorizing the collection of non-ad valorem assessments on the same bill as ad valorem taxes, and any applicable regulations promulgated thereunder.

(Ord. 44-21, § 2, 5-19-2021)

It is hereby ascertained, determined, and declared that:

(a)

The City has previously enacted the multiple procedural ordinances related to the imposition of Assessments, some of which were first enacted decades ago and have been amended and modified numerous times. Such ordinances and respective amendments are currently codified in various chapters of the City Code including Chapters 5, 8, 9 and 17, such that the procedures for levying Assessments appear in many different chapters, articles and divisions of the City Code and may differ with respect to administration processes.

(b)

In order to avoid errors and inconsistencies arising by virtue of having multiple ordinances and amendments thereto describing varying procedures for the imposition of Assessments, and for convenience of reference, the City Council deems it advisable to provide hereby a consolidated and unified procedure governing the imposition of Assessments to fund Essential Services and Capital Improvements.

(c)

Article VIII, section 2 of the Florida Constitution and F.S. §§ 166.21 and 166.41, grant to the City Council all powers of local self-government to perform City functions and to render services for City purposes in a manner not inconsistent with general or special law approved by vote of the electors, including the power to levy and collect Assessments, and such powers may be exercised by the enactment of City ordinances.

(d)

The Assessments authorized herein shall constitute non-ad valorem assessments within the meaning and intent of the Uniform Assessment Collection Act.

(e)

The Assessments imposed pursuant to this Chapter will be imposed by the City Council, not the Property Appraiser or Tax Collector. Any activity of the Property Appraiser or Tax Collector under the provisions of this Chapter shall be construed solely as ministerial.

(f)

The purpose of this Chapter is to: (1) provide consolidated procedures and standards for the imposition of Assessments within the City by resolution under the general home rule powers of a municipality to impose special assessments, and (2) authorize a procedure for the funding of Essential Services or Capital Improvements providing special benefit to subsequently identified property within the City. It is the express intent of the City Council in adopting this Chapter that special assessments imposed by the City of Cape Coral shall be, to the extent practicable, collected and administered in accordance with the consolidated procedures and standards adopted herein.

(Ord. 44-21, § 2, 5-19-2021)

(a)

The Prior Assessment Procedure Ordinances, including any amendments to such ordinances, are hereby superseded and repealed. Furthermore, all other ordinances or parts thereof in conflict herewith are hereby superseded and repealed to the extent of such conflict.

(b)

Any resolutions previously adopted pursuant to the Prior Assessment Procedure Ordinances, including but not limited to any currently effective initial assessment resolution, final assessment resolution or resolution expressing intent to use the uniform collection method, any Assessments imposed under such resolutions and any notice of a Maximum Assessment Rate given pursuant to such resolutions shall remain in full force and effect. To the extent that any Assessments imposed pursuant to such previously adopted resolutions otherwise require adoption of an annual resolution determining the rate of assessment or confirming and approving the Assessment Roll for the ensuing Fiscal Year, such requirement shall be deemed satisfied by the adoption of an Annual Rate Resolution described in § 17-37 hereof or an Annual Assessment Resolution described in § 17-47 hereof. It is the express intent of the City Council in enacting this Chapter to consolidate the various assessment procedures previously adopted in order to provide a single, unified procedure, and nothing herein shall be construed to disrupt, alter or nullify any existing Assessments previously imposed by the City Council.

(Ord. 44-21, § 2, 5-19-2021)

(a)

The City Council is hereby authorized to create Assessment Areas and to impose Assessments therein to fund Essential Services or Capital Improvements conveying a special benefit to the real property comprising such area, in accordance with the procedures set forth in this Chapter. Either the Initial Assessment Resolution proposing an Assessment Area or the Final Assessment Resolution creating each Assessment Area shall include brief descriptions of the proposed Essential Services or Capital Improvements, a description of the property to be included within the Assessment Area, and legislative findings that recognize the special benefit to be provided by the Essential Services or Capital Improvements to property within the Assessment Area. Properties in any Assessment Area need not be adjacent or contiguous to any other property in an Assessment Area. An Assessment Area may encompass the entire area of the City.

(b)

At its option, the City Council may establish a process pursuant to which the owners of property may petition for creation of an Assessment Area to fund Essential Services and Capital Improvements. Notwithstanding any petition process established pursuant to this section, the City Council shall retain the authority to create Assessment Areas without a landowner petition.

(Ord. 44-21, § 2, 5-19-2021)

If any Assessment made under the provisions of this Chapter is either in whole or in part annulled, vacated, or set aside by the judgment of any court of competent jurisdiction, or if the City Council is satisfied that any such Assessment is so irregular or defective that the same cannot be enforced or collected, or if the City Council has omitted to include any property on the Assessment Roll which property should have been so included, the City Council may take all necessary steps to impose a new Assessment against any property benefited by the Essential Service or Capital Improvements following as nearly as may be practicable, the provisions of this Chapter and in case such second Assessment is annulled, vacated, or set aside, the City Council may obtain and impose other Assessments until a valid Assessment is imposed.

(Ord. 44-21, § 2, 5-19-2021)

Any informality or irregularity in the proceedings in connection with the levy of any Assessment under the provisions of this Chapter shall not affect the validity of the same after the approval thereof, and any Assessment as finally approved shall be competent and sufficient evidence that such Assessment was duly levied, that the Assessment was duly made and adopted, and that all other proceedings adequate to such Assessment were duly had, taken, and performed as required by this Chapter; and no variance from the directions hereunder shall be held material unless it be clearly shown that the party objecting was materially injured thereby. Notwithstanding the provisions of this section, any party objecting to an Assessment imposed pursuant to this Chapter must file an objection with a court of competent jurisdiction within the time periods prescribed herein.

(Ord. 44-21, § 2, 5-19-2021)

(a)

No act of error or omission on the part of the Property Appraiser, Tax Collector, City Manager, City Council, their deputies, employees, or designees, shall operate to release or discharge any obligation for payment of an Assessment imposed by the City Council under the provision of this Chapter.

(b)

When it shall appear that any Assessment should have been imposed under this Chapter against a lot or parcel of property specially benefited by the provision of Essential Services or Capital Improvements, but such property was omitted from the Assessment Roll, the City Council may, upon provision of appropriate notice as set forth in this Article, impose the applicable Assessment for the Fiscal Year in which such error is discovered, in addition to the applicable Assessment due for the prior two Fiscal Years. Such total Assessment shall become delinquent if not fully paid upon the expiration of 60 days from the date of the adoption of said resolution. The Assessment so imposed shall constitute a lien against such property equal in rank and dignity with the liens of all state, county, district, or municipal taxes and special assessments, and superior in rank and dignity to all other prior liens, mortgages, titles and claims in and to or against the real property involved and may be collected as provided in Article V hereof.

(c)

The City Manager shall have the authority at any time, upon his or her own initiative or in response to a timely filed petition from the Owner of any Assessed Property, to correct any error in applying the Assessment apportionment method to any particular property not otherwise requiring the provision of notice pursuant to the Uniform Assessment Collection Act. Any such correction that reduces an Assessment shall be considered valid ab initio and shall in no way affect the enforcement of the Assessment imposed under the provisions of this Chapter. Any such correction which increases an Assessment or imposes an Assessment on omitted property shall first require notice to the affected owner in the manner described in § 17-34 and § 17-44 hereof, as applicable, providing the date, time and place that the City Council will consider confirming the correction and offering the owner an opportunity to be heard. All requests from affected property owners for any such changes, modifications or corrections shall be referred to, and processed by, the City Manager and not, the Property Appraiser or Tax Collector.

(d)

After the Assessment Roll has been delivered to the Tax Collector in accordance with the Uniform Assessment Collection Act, any changes, modifications, or corrections thereto shall be made in accordance with the procedures applicable to correcting errors and insolvencies on the Tax Roll upon timely written request and direction of the City Manager.

(Ord. 44-21, § 2, 5-19-2021)

Upon the adoption of the Assessment Roll, all Assessments shall constitute a lien against Assessed Property equal in rank and dignity with the liens of all state, county, district, or municipal taxes and special assessments. Except as otherwise provided by law, such lien shall be superior in dignity to all other prior liens, mortgages, titles, and claims, until paid. The lien for an Assessment shall be deemed perfected upon adoption by the City Council of the Final Assessment Resolution for Capital Improvements or the Annual Rate Resolution for Essential Services, whichever is applicable. The lien for an Assessment collected under the Uniform Assessment Collection Act shall attach to the property as provided by law. The lien for an Assessment collected under the alternative method of collection provided in § 17-51 shall be deemed perfected upon adoption by the City Council of the Final Assessment Resolution for Capital Improvements or the Annual Rate Resolution for Essential Services, whichever is applicable, and shall attach to the property on such date of adoption.

(Ord. 44-21, § 2, 5-19-2021)

(a)

The City Council, in its sole discretion, shall determine whether to provide exemptions from payment of an Assessment for Government Property and/or property coded for institutional use by the Property Appraiser, the use of which is wholly or partially exempt from ad valorem taxation under Florida law. Such determination may be set forth in the Initial Assessment Resolution, Final Assessment Resolution or any Annual Assessment Resolution pertaining to a given Assessment Area.

(b)

The City Council, in its sole discretion, shall determine whether to provide a program of hardship assistance to City residents who are living below or close to the poverty level and are at risk of losing title to their homes as a result of the imposition of an Assessment.

(c)

The City Council shall designate the funds available to provide any exemptions or hardship assistance. The provision of an exemption or hardship assistance in any one year shall in no way establish a right or entitlement to such exemption or assistance in any subsequent year and the provision of funds in any year may be limited to the extent funds are available and appropriated by the City Council. Any funds designated for exemptions or hardship assistance shall be paid by the City from funds other than those generated by the Assessment.

(d)

Any shortfall in the expected Assessment proceeds due to any hardship assistance or exemption from payment of the Assessments required by law or authorized by the City Council shall be supplemented by any legally available funds, or combination of such funds, and shall not be paid for by proceeds or funds derived from the Assessments. In the event a court of competent jurisdiction determines any exemption or reduction by the City Council is improper or otherwise adversely affects the validity of the Assessment imposed for any Fiscal Year, the sole and exclusive remedy shall be the imposition of an Assessment upon each affected Tax Parcel in the amount of the Assessment that would have been otherwise imposed save for such reduction or exemption afforded to such Tax Parcel by the City Council.

(Ord. 44-21, § 2, 5-19-2021)

(a)

The City Council is hereby authorized to impose an annual Service Assessment to fund all or any portion of the Service Cost on benefitted property at a rate of assessment based on the special benefit accruing to such property from the City's provision of the Essential Services funded by the Service Assessment. The amount of the Service Assessment that is imposed each Fiscal Year against each Assessed Parcel shall be determined pursuant to an apportionment methodology designed to provide a fair and reasonable apportionment of the Service Cost among properties on a basis reasonably related to the special benefit provided by the Essential Service funded thereby.

(b)

The Essential Services contemplated by this Chapter are municipal services which are generally provided continuously, from year to year, unless and until the City Council determines to discontinue the provision of such services. Notwithstanding anything herein to the contrary, Service Assessments imposed hereunder may be used as Pledged Revenues for Obligations issued to finance the Capital Cost of facilities, equipment or other capital items necessary or desirable for the provision of Essential Services.

(Ord. 44-21, § 2, 5-19-2021)

The initial proceeding for the imposition of a Service Assessment shall be the City Council's adoption of an Initial Assessment Resolution (A) describing the property to be located within any proposed Assessment Area; (B) containing a brief and general description of the Essential Services to be provided; (C) determining the Service Cost to be assessed; (D) describing the method of apportioning the Service Cost and the computation of the Assessments for specific properties; (E) establishing an estimated assessment rate for the upcoming Fiscal Year; (F) establishing a Maximum Assessment Rate, if desired by the City Council; (G) authorizing the date, time, and place of a public hearing to consider the adoption of the Final Assessment Resolution for the upcoming Fiscal Year; and (H) directing the City Manager to (1) prepare the initial Assessment Roll for Service Assessments, as required by § 17-32 hereof, (2) publish the notice required by § 17-33 hereof, and (3) mail the notice required by § 17-34 hereof.

(Ord. 44-21, § 2, 5-19-2021)

(a)

Upon adoption of the Initial Assessment Resolution, the City Manager shall prepare, or direct the preparation of, the initial Assessment Roll for the Service Assessments, which shall contain the following:

(1)

A summary description of all Assessed Parcels conforming to the description contained on the Tax Roll.

(2)

The name of the Owner of the Assessed Parcel.

(3)

The amount of the Service Assessment to be imposed against each Assessed Parcel.

(b)

Copies of the Initial Assessment Resolution and the preliminary Assessment Roll shall be available in the office of the City Clerk and open to public inspection. The foregoing shall not be construed to require that the Assessment Roll be in printed form if the amount of the Service Assessment for each Assessed Parcel can be determined by use of a computer terminal available to the public.

(Ord. 44-21, § 2, 5-19-2021)

Upon completion of the initial Assessment Roll, the City Manager shall publish notice of a public hearing to adopt the Final Assessment Resolution and approve the aforementioned initial Assessment Roll. The published notice shall conform to the requirements set forth in the Uniform Assessment Collection Act. In the interest of efficiency and economy, the published notice contemplated herein may address more than one Essential Service or Assessment. Proof of publication of the notice may be provided by affidavit.

(Ord. 44-21, § 2, 5-19-2021)

For the initial Fiscal Year in which a Service Assessment is imposed by the City Council against Assessed Property pursuant to the Uniform Assessment Collection Act and in addition to the published notice required by § 17-33, the City Manager shall provide notice of the proposed Service Assessment by first class mail to the owner of each parcel of property subject to a Service Assessment. Notice shall be deemed mailed upon delivery thereof to the possession of the United States Postal Service. Failure of the Owner to receive such notice due to mistake or inadvertence, shall not affect the validity of the Assessment Roll nor release or discharge any obligation for payment of a Service Assessment imposed by the City Council pursuant to this Chapter. Notice by mail for Fiscal Years after the initial Fiscal Year shall be controlled by § 17-37 hereof. In the interest of efficiency and economy, the mailed notice contemplated herein may address more than one Essential Service or Assessment. Proof of mailing of the notice may be provided by affidavit.

(Ord. 44-21, § 2, 5-19-2021)

(a)

At the time named in such notice or to such time as an adjournment or continuance may be taken by the City Council, the City Council shall conduct a public hearing to receive any written objections of interested persons and may then, or at any subsequent meeting of the City Council, adopt the Final Assessment Resolution which shall (1) create any Assessment Area; (2) confirm, modify, or repeal the Initial Assessment Resolution with such amendments, if any, as may be deemed appropriate by the City Council; (3) establish the Maximum Assessment Rate, if desired by the City Council and set the rate of assessment to be imposed in the upcoming fiscal year; (4) approve the initial Assessment Roll, with such amendments as it deems just and right; and (5) determine the method of collection. All Assessed Parcels shall derive a special benefit from the Essential Service to be provided and the Service Assessment shall be fairly and reasonably apportioned among the properties that receive the special benefit. All objections to the Final Assessment Resolution shall be made in writing, and filed with the City Manager at or before the time or adjourned time of such hearing. The Final Assessment Resolution shall constitute the Annual Rate Resolution for the initial Fiscal Year in which Assessments are imposed or reimposed hereunder.

(b)

In any instance where the public hearing is adjourned or continued prior to adoption of the Final Assessment Resolution or any Annual Rate Resolution requiring mailed notice as provided in § 17-37(c) hereof, the City shall not be required to provide additional notices pursuant to § 17-33 or/or § 17-34 hereof, provided:

(1)

The public hearing is continued to a time and date certain as determined by majority vote of the City Council at the public hearing included in the original mailed notices; and

(2)

Such time and date certain is within 60 days of the public hearing date included in the original mailed notices.

(Ord. 44-21, § 2, 5-19-2021)

The adoption of the Final Assessment Resolution or of an Annual Rate Resolution requiring notice as provided in § 17-37 hereof, shall be the final adjudication of the issues presented (including, but not limited to, the apportionment methodology, the rate of assessment, the maximum annual Assessment of each parcel, the adoption of the Assessment Roll and the levy and lien of the Assessments), unless proper steps are initiated in a court of competent jurisdiction to secure relief within 20 days from the date of the City Council's adoption of such resolution. The Assessments for each Fiscal Year shall be established upon adoption of the Annual Assessment Resolution. If the Assessments are to be collected pursuant to the Uniform Assessment Collection Act, the Assessment Roll, as approved by the Annual Assessment Resolution, shall be certified to the Tax Collector, or if an alternative method is used to collect the Service Assessments, such other official as the City Council by resolution shall designate.

(Ord. 44-21, § 2, 5-19-2021)

(a)

During its budget adoption process and prior to September 15 of each year, the City Council shall adopt an Annual Rate Resolution for each Fiscal Year following the initial Fiscal Year for which a Service Assessment is imposed hereunder.

(b)

The initial proceedings for the adoption of an Annual Rate Resolution for a Service Assessment imposed to fund the Service Cost of an Essential Service shall be the adoption of a Preliminary Rate Resolution generally in accordance with § 17-31 hereof. The Annual Rate Resolution shall approve the Assessment Roll for the upcoming Fiscal Year. The Assessment Roll shall be prepared in accordance with the method of apportionment set forth in the Initial Assessment Resolution or most recent Preliminary Rate Resolution together with modifications, if any, and confirmed in the Annual Rate Resolution.

(c)

In the event that the uniform method of collection provided for in the Uniform Assessment Collection Act is used and (1) the proposed Service Assessment for any Fiscal Year exceeds the Maximum Assessment Rate included in notice previously provided to the Owners of Assessed Property pursuant to § 17-33 or § 17-34 hereof, (2) the method of apportionment is changed or the purpose for which the Service Assessment is imposed is substantially changed from that represented by notice previously provided to the Owners of Assessed Property pursuant to § 17-33 or § 17-34 hereof, (3) Assessed Property is reclassified in a manner which results in an increased Service Assessment from that represented by notice previously provided to the owners of Assessed Property pursuant to § 17-33 or § 17-34 hereof, or (4) an Assessment Roll contains Assessed Property that was not included on the Assessment Roll approved for the prior Fiscal Year (unless all newly affected property owners have provided written consent for such Assessment to the City), notice shall be provided by first class mail to the Owner of such Assessed Property. Such supplemental notice shall substantially conform to the notice requirements set forth in § 17-34 hereof and inform the Owner of the date and place for the adoption of the Annual Rate Resolution. The failure of the Owner to receive such supplemental notice due to mistake or inadvertence, shall not affect the validity of the Assessment Roll nor release or discharge any obligation for payment of a Service Assessment imposed by the City Council pursuant to this Chapter.

(d)

Even in circumstances where notice is not required by § 17-37(c), nothing herein shall preclude the City from providing notice of the meeting at which the Annual Rate Resolution will be considered, by publication, mailing or any other method authorized by law.

(e)

The Assessment Roll, as approved by the Annual Rate Resolution, shall be certified and delivered to the Tax Collector or if an alternative method is used to collect the Service Assessments, such other official as the City Council by resolution shall designate. If the Service Assessment against any property shall be sustained, reduced, or abated by the City Council, an adjustment shall be made on the Assessment Roll.

(f)

Notwithstanding anything herein to the contrary, a single Annual Rate Resolution may approve Assessment Rolls for more than one Essential Service or Assessment Area.

(Ord. 44-21, § 2, 5-19-2021)

The City may impose interim Service Assessments to fund Essential Services, in which case the resolutions imposing and establishing the amount of the annual Service Assessment for the forthcoming fiscal year shall specify the terms and procedures applicable to the imposition, collection and calculation of the interim Service Assessment.

(Ord. 44-21, § 2, 5-19-2021; Ord. 63-21, § 1, 8-18-2021)

(a)

The City Council is hereby authorized to impose Capital Assessments against property located within an Assessment Area to fund the Capital Cost (or Project Cost, if obligations are issued to finance the Capital Cost). The Capital Assessment shall be computed in a manner that fairly and reasonably apportions the Capital Cost (or Project Cost, if obligations are issued to finance the Capital Cost) among the Assessed Parcels based upon objectively determinable Assessment Units and reasonably related to the special benefit provided by the Capital Improvement.

(b)

Capital Assessments are generally imposed in a specified amount to fund Capital Improvements. The amount may be collected in annual installments or otherwise as specified in the Initial Assessment Resolution or Final Assessment Resolution, and the payment period for annual installments may correspond with the term of Obligations issued to finance the Project Cost. Once each Assessed Parcel's pro rata share of the Capital Cost (or Project Cost, if Obligations are issued to finance the Capital Cost) is paid in full, collection of the Capital Assessment shall cease.

(c)

All Capital Assessments shall be imposed in conformity with the procedures set forth in this Article IV.

(Ord. 44-21, § 2, 5-19-2021)

The initial proceeding for the imposition of a Capital Assessment shall be the City Council's adoption of an Initial Assessment Resolution (A) describing the property to be located within the proposed Assessment Area; (B) containing a brief and general description of the Capital Improvements to be provided; (C) determining the Capital Cost or Project Cost to be assessed for Capital Improvements; (D) describing the method of apportioning the Capital Cost or Project Cost and the computation of the Capital Assessments for specific properties; (E) establishing an estimated assessment rate for the upcoming Fiscal Year; (F) describe the provisions, if any, for acceleration and mandatory prepayment of the Capital Assessment; (G) describe the provisions, if any, for reallocating the Capital Assessment upon future subdivision; (H) establishing a Maximum Assessment Rate, if desired by the City Council; (I) authorizing the date, time, and place of a public hearing to consider the adoption of the Final Assessment Resolution for the upcoming Fiscal Year; (I) describing the terms by which the Capital Assessment may be prepaid in full at the option of the Owners of Assessed Property, if the City Council in its sole discretion determines to allow such prepayment, and (j) directing the City Manager to (1) prepare the initial Assessment Roll for Capital Assessments, as required by § 17-42 hereof, (2) publish the notice required by § 17-43 hereof, and (3) mail the notice required by § 17-44 hereof.

(Ord. 44-21, § 2, 5-19-2021)

(a)

Upon adoption of the Initial Assessment Resolution, the City Manager shall prepare, or direct the preparation of, the initial Assessment Roll for Capital Assessments, which shall contain the following:

(1)

A summary description of all Assessed Parcels conforming to the description contained on the Tax Roll.

(2)

The name of the Owner of the Assessed Parcel.

(3)

The number of Assessment Units attributable to each parcel.

(4)

The amount of the Capital Assessment to be imposed against each Assessed Parcel.

(b)

Copies of the Initial Assessment Resolution and the preliminary Assessment Roll shall be available in the office of the City Clerk and open to public inspection. The foregoing shall not be construed to require that the Assessment Roll be in printed form if the amount of the Capital Assessment for each parcel of property can be determined by use of a computer terminal available to the public.

(Ord. 44-21, § 2, 5-19-2021)

Upon completion of the initial Assessment Roll, the City Manager shall publish notice of a public hearing to adopt the Final Assessment Resolution and approve the aforementioned initial Assessment Roll. The published notice shall conform to the requirements set forth in the Uniform Assessment Collection Act. In the interest of efficiency and economy, the published notice contemplated herein may address more than one Capital Improvement or Assessment. Proof of publication of the notice may be provided by affidavit.

(Ord. 44-21, § 2, 5-19-2021)

For the initial Fiscal Year in which a Capital Assessment is imposed by the City Council against Assessed Property pursuant to the Uniform Assessment Collection Act and in addition to the published notice required by § 17-43, the City Manager shall provide notice of the proposed Capital Assessment by first class mail to the owner of each parcel of property subject to a Capital Assessment. Notice shall be deemed mailed upon delivery thereof to the possession of the United States Postal Service. Failure of the Owner to receive such notice due to mistake or inadvertence, shall not affect the validity of the Assessment Roll nor release or discharge any obligation for payment of a Capital Assessment imposed by the City Council pursuant to this Chapter. Notice by mail for Fiscal Years after the initial Fiscal Year shall be controlled by § 17-47 hereof. In the interest of efficiency and economy, the mailed notice contemplated herein may address more than one Capital Improvement or Assessment. Proof of mailing of the notice may be provided by affidavit.

(Ord. 44-21, § 2, 5-19-2021)

(a)

At the time named in such notice or to such time as an adjournment or continuance may be taken by the City Council, the City Council shall receive any written objections of interested persons and may then, or at any subsequent meeting of the City Council, adopt the Final Assessment Resolution which shall (1) create any Assessment Area; (2) confirm, modify, or repeal the Initial Assessment Resolution with such amendments, if any, as may be deemed appropriate by the City Council; (3) establish the maximum amount of the Capital Assessment for each Assessment Unit and levy the rate of assessment for the upcoming Fiscal Year; (4) approve the initial Assessment Roll, with such amendments as it deems just and right; and (5) determine the method of collection. All Assessed Parcels shall derive a special benefit from the Capital Improvement to be provided or constructed and the Capital Assessment shall be fairly and reasonably apportioned among the properties that receive the special benefit. All objections to the Final Assessment Resolution shall be made in writing, and filed with the City Manager at or before the time or adjourned time of such hearing. The Final Assessment Resolution shall constitute the Annual Rate Resolution for the initial Fiscal Year in which Assessments are imposed hereunder.

(b)

In any instance where the public hearing is adjourned or continued prior to adoption of the Final Assessment Resolution or any Annual Rate Resolution requiring mailed notice as provided in § 17-47(c) hereof, the City shall not be required to provide additional notices pursuant to § 17-43 or/or § 17-44 hereof, provided:

(1)

The public hearing is continued to a time and date certain as determined by majority vote of the City Council at the public hearing included in the original mailed notices; and

(2)

Such time and date certain is within 60 days of the public hearing date included in the original mailed notices.

(c)

If, subsequent to the adoption of the Final Assessment Resolution or any Annual Assessment Resolution, the costs of a Capital Improvement project exceed either the estimate of costs used to develop the Assessment Roll or the Maximum Assessment Rate specified in any notice given pursuant to § 17-43 or § 17-44 hereof, then the City may impose an additional Assessment to fund completion of the Capital Improvements project. Any such completion Assessment shall require notice and public hearing for affected property owners as provided in this Article.

(Ord. 44-21, § 2, 5-19-2021)

The Capital Assessments for the initial Fiscal Year shall be established upon adoption of the Final Assessment Resolution. The adoption of the Final Assessment Resolution shall be the final adjudication of the issues presented (including, but not limited to, the method of apportionment and assessment, the initial rate of assessment, the initial Assessment Roll, and the levy and lien of the Capital Assessments), unless proper steps are initiated in a court of competent jurisdiction to secure relief within 20 days from the date of City Council action on the Final Assessment Resolution. The initial Assessment Roll, as approved by the Final Assessment Resolution, shall be certified and delivered to the Tax Collector, or if an alternative method is used to collect the Capital Assessments, such other official as the City Council by resolution shall designate.

(Ord. 44-21, § 2, 5-19-2021)

(a)

During its budget adoption process and prior to September 15 of each year, the City Council shall adopt an Annual Assessment Resolution for each Fiscal Year in which Capital Assessments will be imposed to fund the Capital Cost or Project Cost of a Capital Improvement. The Final Assessment Resolution shall constitute the Annual Assessment Resolution for the initial Fiscal Year. The Assessment Roll shall be prepared in accordance with the Initial Assessment Resolution, as confirmed or amended by the Final Assessment Resolution. Failure to adopt an Annual Assessment Resolution during the budget adoption process for a Fiscal Year may be cured at any time.

(b)

In the event that the uniform method of collection provided for in the Uniform Assessment Collection Act is used and (1) the proposed Capital Assessment for any Fiscal Year exceeds the Maximum Assessment Rate included in notice previously provided to the Owners of Assessed Property pursuant to § 17-43 or § 17-44 hereof, (2) the method of apportionment is changed or the purpose for which the Capital Assessment is imposed is substantially changed from that represented by notice previously provided to the Owners of Assessed Property pursuant to § 17-43 or § 17-44 hereof, (3) Assessed Property is reclassified in a manner which results in an increased Capital Assessment from that represented by notice previously provided to the owners of Assessed Property pursuant to § 17-43 or § 17-44 hereof, or (4) an Assessment Roll contains Assessed Property that was not included on the Assessment Roll approved for the prior Fiscal Year (unless all newly affected property owners have provided written consent for such Assessment to the City), notice shall be provided by first class mail to the Owner of such Assessed Property. Such supplemental notice shall substantially conform to the notice requirements set forth in § 17-44 hereof and inform the Owner of the date and place for the adoption of the Annual Assessment Resolution. The failure of the Owner to receive such supplemental notice due to mistake or inadvertence, shall not affect the validity of the Assessment Roll nor release or discharge any obligation for payment of a Capital Assessment imposed by the City Council pursuant to this Chapter.

(c)

Even in circumstances where notice is not required by § 17-47(b), nothing herein shall preclude the City from providing notice of the meeting at which the Annual Rate Resolution will be considered, by publication, mailing or any other method authorized by law.

(d)

The Assessment Roll, as approved by the Annual Assessment Resolution, shall be certified and delivered to the Tax Collector, or if an alternative method is used to collect the Capital Assessments, such other official as the City Council by resolution shall designate. If the Capital Assessment against any property shall be sustained, reduced, or abated by the City Council, an adjustment shall be made on the Assessment Roll.

(e)

Notwithstanding anything herein to the contrary, a single Annual Assessment Resolution may approve Assessment Rolls for more than one Capital Improvement or Assessment Area.

(Ord. 44-21, § 2, 5-19-2021)

Unless directed otherwise by the City Council, Assessments (other than Assessments imposed against Government Property) shall be collected pursuant to the Uniform Assessment Collection Act, and the City shall comply with all applicable provisions thereof, including but not limited to (1) entering into a written agreement with the Property Appraiser and the Tax Collector for reimbursement of necessary expenses, (2) certifying the Assessment Roll to the Tax Collector, and (3) adopting a Resolution of Intent after publishing weekly notice of such intent for four consecutive weeks preceding the hearing. The Resolution of Intent may be adopted either prior to or following the Initial Assessment Resolution; provided however, that the Resolution of Intent must be adopted prior to January 1 (March 1 with consent of the Property Appraiser and Tax Collector) of the year in which the Assessments are first collected on the ad valorem tax bill. This section shall not be construed to require adoption of an additional Resolution of Intent, and notice thereof, if a Resolution of Intent was previously adopted and is currently in effect for the area in question. Any hearing or notice required by this Chapter may be combined with any other hearing or notice required by the Uniform Assessment Collection Act. Assessments collected pursuant to the Uniform Assessment Collection Act may be include amounts necessary to off-set discounts received for early payment of Assessments pursuant to the Uniform Assessment Collection Act and any fees or charges imposed by the Tax Collector or Property Appraiser for reimbursement of administrative expenses.

(Ord. 44-21, § 2, 5-19-2021)

In lieu of using the Uniform Assessment Collection Act, the City may elect to collect the Assessment by any other method which is authorized by law or provided by this § 17-51 as follows:

(a)

The City shall provide Assessment bills by first class mail to the owner of each affected parcel of property, other than Government Property. The bill or accompanying explanatory material shall include (1) a brief explanation of the Assessment, (2) a description of the Assessment Units used to determine the amount of the Assessment, (3) the number of Assessment Units attributable to the parcel, (4) the total amount of the parcel's Assessment for the appropriate period, (5) the location at which payment will be accepted, (6) the date on which the Assessment is due, and (7) a statement that the Assessment constitutes a lien against assessed property equal in rank and dignity with the liens of all state, county, district or municipal taxes and other non-ad valorem assessments.

(b)

A general notice of the lien resulting from imposition of the Assessments shall be recorded in the Official Records of Lee County, Florida. Nothing herein shall be construed to require that individual liens or releases be filed in the Official Records.

(c)

The City shall have the right to appoint or retain an agent to foreclose and collect all delinquent Assessments in the manner provided by law. An Assessment shall become delinquent if it is not paid within 30 days from the due date. The City or its agent shall notify any property owner who is delinquent in payment of an Assessment within 60 days from the date such Assessment was due. Such notice shall state in effect that the City or its agent will initiate a foreclosure action and cause the foreclosure of such property subject to a delinquent Assessment in a method now or hereafter provided by law for foreclosure of mortgages on real estate, or otherwise as provided by law.

(d)

All costs, fees and expenses, including reasonable attorney fees and title search expenses, related to any foreclosure action as described herein shall be included in any judgment or decree rendered therein. At the sale pursuant to decree in any such action, the City may be the purchaser to the same extent as an individual person or corporation. The City may join in one foreclosure action the collection of Assessments against any or all property assessed in accordance with the provisions hereof. All delinquent property owners whose property is foreclosed shall be liable for an apportioned amount of reasonable costs and expenses incurred by the City and its agents, including reasonable attorney fees, in collection of such delinquent Assessments and any other costs incurred by the City as a result of such delinquent Assessments including, but not limited to, costs paid for draws on a credit facility and the same shall be collectible as a part of or in addition to, the costs of the action.

(e)

In lieu of foreclosure, any delinquent Assessment and the costs, fees and expenses attributable thereto, may be collected pursuant to the Uniform Assessment Collection Act; provided however, that (1) notice is provided to the owner in the manner required by law and this Chapter, and (2) any existing lien of record on the affected parcel for the delinquent Assessment is supplanted by the lien resulting from certification of the Assessment Roll to the Tax Collector.

(Ord. 44-21, § 2, 5-19-2021)

The City and its agents, if any, shall maintain the duty to enforce the prompt collection of Assessments by the means provided herein. The duties related to collection of Assessments may be enforced at the suit of any holder of Obligations in a court of competent jurisdiction by mandamus or other appropriate proceedings or actions.

(Ord. 44-21, § 2, 5-19-2021)

(a)

If Assessments are imposed against Government Property, the City shall provide Assessment bills by first class mail to the owner of each affected parcel of Government Property. The bill or accompanying explanatory material shall include (1) a brief explanation of the Assessment, (2) a description of the Assessment Units used to determine the amount of the Assessment, (3) the number of Assessment Units attributable to the parcel, (4) the total amount of the parcel's Assessment for the appropriate period, (5) the location at which payment will be accepted, and (6) the date on which the Assessment is due.

(b)

Assessments imposed against Government Property shall be due on the same date as Assessments against other property within the Assessment Area and, if applicable, shall be subject to the same discounts for early payment.

(c)

An Assessment shall become delinquent if it is not paid within 30 days from the due date. The City shall notify the owner of any Government Property that is delinquent in payment of its Assessment within 60 days from the date such Assessment was due. Such notice shall state in effect that the City will initiate a mandamus or other appropriate judicial action to compel payment.

(d)

All costs, fees and expenses, including reasonable attorney fees and title search expenses, related to any mandamus or other action as described herein shall be included in any judgment or decree rendered therein. All delinquent owners of Government Property against which a mandamus or other appropriate action is filed shall be liable for an apportioned amount of reasonable costs and expenses incurred by the City or its agents, including reasonable attorney fees, in collection of such delinquent Assessments and any other costs incurred by the City as a result of such delinquent Assessments including, but not limited to, costs paid for draws on a credit facility and the same shall be collectible as a part of, or in addition to, the costs of the action.

(e)

As an alternative to the foregoing, an Assessment imposed against Government Property may be collected on the bill for any utility service provided to such Government Property. The City Council may also contract for such billing services with any utility not owned by the City.

(f)

Nothing contained in this Chapter shall be construed to require the imposition of Assessments against Government Property.

(Ord. 44-21, § 2, 5-19-2021)

(a)

The City Council shall have the power and is hereby authorized to provide, at one time or from time to time in series, for the issuance of Obligations to finance the Capital Cost and any amounts to be paid or accrued in connection with issuance of such Obligations including but not limited to capitalized interest, transaction costs and reserve account deposits.

(b)

The principal of and interest on each series of Obligations shall be payable from Pledged Revenue. At the option of the City Council, the City may agree to budget and appropriate funds to make up any deficiency in the reserve account established for the Obligations or in the payment of the Obligations, from other non-ad valorem revenue sources. The City Council may also provide for a pledge of or lien upon proceeds of such non-ad valorem revenue sources for the benefit of the holders of the Obligations.

(Ord. 44-21, § 2, 5-19-2021)

The Obligations shall be dated, shall bear interest at such rate or rates, shall mature at such times as may be determined by ordinance or resolution of the City Council, and may be made redeemable before maturity, at the option of the City, at such price or prices and under such terms and conditions, all as may be fixed by the City Council. Said Obligations shall mature not later than 40 years after their issuance. The City Council shall determine by ordinance or resolution the form of the Obligations, the manner of executing such Obligations, and shall fix the denominations of such Obligations, the place or places of payment of the principal and interest, which may be at any bank or trust company within or outside of the State of Florida, and such other terms and provisions of the Obligations as it deems appropriate. The Obligations may be sold at public or private sale for such price or prices as the City Council shall determine by ordinance or resolution. The Obligations may be sold in such manner and for such price as the City Council may determine by ordinance or resolution to be for the best interests of the City.

(Ord. 44-21, § 2, 5-19-2021)

At the option of the City Council, Obligations may bear interest at a variable rate.

(Ord. 44-21, § 2, 5-19-2021)

Prior to the preparation of definitive Obligations of any series, the City Council may, under like restrictions, issue interim receipts, interim certificates, or temporary Obligations, exchangeable for definitive Obligations when such Obligations have been executed and are available for delivery. The City Council may also provide for the replacement of any Obligations which shall become mutilated, destroyed or lost. Obligations may be issued without any other proceedings or the happening of any other conditions or things other than those proceedings, conditions or things which are specifically required by this Chapter.

(Ord. 44-21, § 2, 5-19-2021)

In anticipation of the sale of Obligations, the City Council may, by ordinance or resolution, issue notes and may renew the same from time to time. Such notes may be paid from the proceeds of the Obligations, the proceeds of the Assessments, the proceeds of the notes and such other legally available moneys as the City Council deems appropriate by ordinance or resolution. Said notes shall mature within five years of their issuance and shall bear interest at a rate not exceeding the maximum rate provided by law. The City Council may issue Obligations or renewal notes to repay the notes. The notes shall be issued in the same manner as the Obligations.

(Ord. 44-21, § 2, 5-19-2021)

Obligations issued under the provisions of this Chapter shall not be deemed to constitute a general obligation or pledge of the full faith and credit of the City within the meaning of the Constitution of the State of Florida, but such Obligations shall be payable only from Pledged Revenue and, if applicable, proceeds of the Assessments, in the manner provided herein and by the ordinance or resolution authorizing the Obligations. The issuance of Obligations under the provisions of this Chapter shall not directly or indirectly obligate the City to levy or to pledge any form of ad valorem taxation whatsoever. No holder of any such Obligations shall ever have the right to compel any exercise of the ad valorem taxing power on the part of the City to pay any such Obligations or the interest thereon or to enforce payment of such Obligations or the interest thereon against any property of the City, nor shall such Obligations constitute a charge, lien or encumbrance, legal or equitable, upon any property of the City, except the Pledged Revenue.

(Ord. 44-21, § 2, 5-19-2021)

The Pledged Revenue received pursuant to the authority of this Chapter shall be deemed to be trust funds, to be held and applied solely as provided in this Chapter and in the ordinance or resolution authorizing issuance of the Obligations. Such Pledged Revenue may be invested by the City, or its designee, in the manner provided by the ordinance or resolution authorizing issuance of the Obligations. The Pledged Revenue upon receipt thereof by the City shall be subject to the lien and pledge of the holders of any Obligations or any entity other than the City providing credit enhancement on the Obligations.

(Ord. 44-21, § 2, 5-19-2021)

Any holder of Obligations, except to the extent the rights herein given may be restricted by the ordinance or resolution authorizing issuance of the Obligations, may, whether at law or in equity, by suit, action, mandamus or other proceedings, protect and enforce any and all rights under the laws of the state or granted hereunder or under such ordinance or resolution, and may enforce and compel the performance of all duties required by this part, or by such ordinance or resolution, to be performed by the City.

(Ord. 44-21, § 2, 5-19-2021)

The City may, by ordinance or resolution of the City Council, issue Obligations to refund any Obligations issued pursuant to this Chapter, or any other obligations of the City issued to finance Capital Improvements, and provide for the rights of the holders hereof. Such refunding Obligations may be issued in an amount sufficient to provide for the payment of the principal of, redemption premium, if any, and interest on the outstanding Obligations to be refunded. If the issuance of such refunding Obligations results in an annual Assessment that exceeds the estimated maximum annual Assessments set forth in the notice provided pursuant to § 17-34 or § 17-44 hereof, the City Council shall provide notice to the affected property owners and conduct a public hearing in the manner required by this Chapter.

(Ord. 44-21, § 2, 5-19-2021)