Present law provides independent authority for the establishment and governance of an infrastructure development district. This bill clarifies that such independent authority does not affect the operation of other parts of the law that provide a separate independent authority for the establishment and governance of a central business improvement or infrastructure development district. PUBLIC HEARINGS Present law allows governing bodies of host municipalities to hold a joint public hearing upon receiving the filing of a petition initiating the creation of an infrastructure development district. This bill clarifies that the municipalities may hold separate public hearings when a governing body makes approval contingent on the approval of another governing body. ESTABLISHMENT RESOLUTION Present law provides the requirements for what must be contained with an establishment resolution adopted by the governing body of the municipalities. This bill eliminates the requirement that the establishing resolution contain the maximum rate of levy of the special assessment that may be imposed. Present law authorizes host municipalities who have adopted an establishment resolution for an infrastructure development district to levy special assessments against all properties located within that portion of the infrastructure development district lying within the boundaries of such host municipality. This bill allows an establishment resolution to provide that a portion of special assessments be set aside for the actual cost of administrative expenses, including expenses incurred by the host municipality and the officers of the municipality in administering the collection and allocation of special assessments. MAXIMUM TERMS OF BONDS, NOTES, OR OTHER DEBT OBLIGATIONS Present law allows a host municipality of an infrastructure development district to borrow money and issue bonds, notes, or other obligations for the purpose of paying infrastructure costs identified in the establishment resolution, reimbursing the developer for the prior payment of infrastructure costs, or refunding or refinancing such bonds, notes, or obligations. This bill clarifies that the maximum term of any bonds, notes, or other debt obligations must not exceed 30 years from the first issuance. For projects with multiple phases of development, bonds may be issued for each phase of development and each phase must not exceed 30 years from date of issuance of the bonds for that phase. DISTRICT DISSOLUTION Present law requires that infrastructure districts be dissolved by the governing bodies of the host municipality no later than 20 years from the date the district is established. This bill, instead, requires that districts be dissolved no later than 30 years from the date that the last assessment is first levied.

Statutes affected:
Introduced: 7-84-804, 7-84-811, 7-84-814, 7-84-815, 7-84-817, 7-84-827