(1) A council may enact an ordinance establishing a procedure to be followed by the city in making assessments for the cost of an economic improvement upon the lots which are specially benefited by all or part of the improvement.
(2) In any ordinance adopted under subsection (1) of this section, a city shall not be authorized to:
(a) Levy assessments in an economic improvement district in any year that exceed one percent of the real market value of all the real property located within the district.
(b) Include within an economic improvement district any area of the city that is not zoned for commercial or industrial use.
(c) Levy assessments on residential real property or any portion of a structure used for residential purposes. [1985 c.576 §2; 1989 c.1018 §3; 1991 c.459 §350; 1991 c.902 §5]Section: Previous 223.025 223.030 223.035 223.040 223.105 223.110 223.112 223.114 223.115 223.117 223.118 223.119 223.120 223.122 223.124 Next
Last modified: August 7, 2008