TITLE 45
Towns and cities
CHAPTER 45-59
District Management Authorities
SECTION 45-59-5
§ 45-59-5 Contents of petition
Signers.
(a) The written petition will be signed by persons who own real property
located within the proposed district, and if the petition provides for one or
more subdistricts, within the subdistricts, constituting, in the aggregate,
sixty percent (60%) of the aggregate assessed valuation of all real property,
not exempt from taxation by law. The written petition will set forth:
(1) A statement requesting the creation of a management
district and a district management authority.
(2) The name of the district management authority.
(3) A description of the proposed management district and any
subdistrict sufficient to reasonably identify the boundaries of the proposed
district and a map delineating the boundaries of the management district and
any subdistrict. The boundaries of a district or subdistrict may be described
by reference to streets or highways.
(4) The purposes for which the district management authority
is to be created which may be all of the purposes set forth in this chapter or
only those specifically set forth in the petition. The purposes of the district
management authority in any subdistrict may be different from those in a
management district.
(5) Any limitations on the powers of the district management
authority which may include limitations on the amount of the special tax
assessment which the district management authority is permitted to make.
(6) A statement that more than fifty percent (50%) of area of
the land located within the proposed district is devoted to commercial and
retail uses.
(7) The factors upon which the special tax assessment
provided in this chapter will be based which factors may be any one or a
combination of: (i) assessed valuation as of the date provided in §
44-5-1, (ii) square footage of land or improvements, (iii) linear footage along
street fronts, (iv) formulas reflecting that different areas or zones within
the management district will have greater or lesser benefit from the activities
to be undertaken by the district management authority, (v) formulas
establishing different assessment levels for different classes of real
property, or (vi) any other method which reasonably apportions the expenses of
the activities of the district management authority among the owners of real
property within the management district which is benefited by the activities of
the district management authority. Different factors may be used for the
purposes of a special tax assessment in a subdistrict.
(8) The name of a non-profit corporation designated by the
petitioners as being representative of the business community within the
municipality which will have the appointive powers provided in this chapter
with respect to the governing board. The non-profit organization will be one
which has qualified under § 501(c) of the Internal Revenue Code of 1986
[26 U.S.C. § 501(c)], as amended, and has received a
determination letter from the Internal Revenue Service confirming its status
(which determination letter continues to be in full force and effect.)
(b) In addition, the petition may designate one or more
persons who are authorized on behalf of the petitioners to modify or amend the
petition prior to the passage of the ordinance or resolution.
History of Section.
(P.L. 2001, ch. 205, § 1; P.L. 2001, ch. 373, § 1.)
