18-3544. Appointment of an administrator; petition; contents.
210 words·~1 min read·
/ne/chapter-18/18-3544A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The petition shall state that the community improvement district
(1)has been in default for more than ninety days on its issued and outstanding bonds or construction fund warrants of the community improvement district,
(2)has levied a tax upon the taxable value of the taxable property in the community improvement district which, along with the sinking fund derived from special assessments, has not been sufficient to meet payments of interest and principal on the issued and outstanding bonds of the community improvement district,
(3)has failed to levy special assessments on all lots, parcels, or pieces of real property within the terms provided in section 18-3532 , or
(4)lacks a functioning board of trustees. The petition shall pray for referral of the community improvement district to the city council of the city or board of trustees of the village in which the community improvement district is located for the appointment of an administrator for the community improvement district and for an order suspending the authority of the board of trustees of the community improvement district to exercise the powers granted to such board pursuant to the Community Improvement District Act during the period of such administrator's appointment or for such other relief as the court may determine appropriate.