21-43-113 - Notice of meeting for development of district plan; requirements for approval of proposed plan; contents of proposed plan. - Mississippi Statutes

§ 21-43-113. Notice of meeting for development of district plan; requirements for approval of proposed plan; contents of proposed plan.
 

In order to establish a business improvement district, and upon establishment, every fifth year thereafter, those property owners which make up the area of the proposed district shall be notified of a meeting by United States mail no less than ten (10) days prior to the scheduled date of the meeting. Notification shall include the specific location, date and time of the meeting. The goal of the meeting shall be to develop a district plan for the upcoming five-year period. Such plan shall be agreed upon by a majority of those property owners in attendance at the meeting. Such district plan shall include the following: 
 

(a) A description of the boundaries of the district sufficient to identify the lands included; 

(b) The improvements proposed and the maximum cost thereof for each of the coming five (5) years; 

(c) The total amount proposed to be expended for improvements for and in the district during the upcoming five (5) years; 

(d) The proposed source or sources of financing and funding for the improvements; 

(e) The proposed target dates for beginning the implementation of the improvements; 

(f) The naming of the district management group for the upcoming five (5) years; and 

(g) A listing of the individual properties to be included in the district with any assessment computed and identified for each property based upon gross square footage of buildings and unimproved real estate. The plan may provide that tax exempt properties be included in the district but not be subject to any assessment. 
 

Sources: Laws,  1995, ch. 442, § 7, eff from and after passage (approved March 21, 1995).