91A.560 Petition requesting formation of management district.

234 words·~1 min read·/ky/chapter-91a/91a-560

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)A city may initiate proceedings to establish a management district upon receipt by

the mayor of a written petition requesting the formation of a management district. A

petition requesting the formation of a management district shall contain:

(a)The signatures and addresses of a number of real property owners, who

together are the owners of fifty-one percent (51%) or more of the properties

within the proposed district and who are the owners of real property equal to

at least fifty-one percent (51%) of the assessed value of property within the

proposed management district;

(b)An accurate description of the boundaries of the proposed management

district;

(c)An economic improvement plan that shall provide:

1. A description of the economic improvements to be provided within the

district;

2. A preliminary estimate of the annual costs of the proposed economic

improvements; and

3. The proposed method of assessing the costs of the economic

improvements against the properties;

(d)The proposed makeup of the board of the management district, its powers and

duties; and

(e)The number of years in which the assessments are proposed to be levied, not

to exceed five

(5)years.

(2)When a petition satisfying the requirements of subsection

(1)of this section is

received by the mayor, he shall forward it to the legislative body which may proceed

to enact an ordinance establishing a management district as provided in KRS

91A.565.