§ 325 - Annual taxation for downtown improvement district; free parking for two hours inpublic lots and garages; annual budget of Church Street Marketplace Distric - Vermont Statutes

§ 3-325. Annual taxation for downtown improvement district; free parking for two hours in public lots and garages; annual budget of Church Street Marketplace District

(a) The Church Street Marketplace commission shall annually recommend and the city council shall annually assess upon nonresidential properties (as defined in Sec. 81 hereof) located within the downtown improvement district a tax upon the dollar of the property grand list to be used for the herein enumerated purposes of the downtown improvement district, which tax shall not exceed $0.12 unless a larger amount has been authorized by the city council upon affirmative recommendation of the Church Street Marketplace commission. The revenues from such tax will be utilized for the purpose of providing a parking program which shall include not less than two free hours of parking for anyone parking in any designated municipally or privately owned or operated parking garage or parking lot located within the downtown improvement district pursuant to regulations to be established by the public works commission.

(b) Annual budget. The commission shall prepare a proposed budget for each fiscal year showing the proposed expenditures and anticipated receipts of such year. The estimated net cost of operation of the marketplace, after taking account of all anticipated receipts available to meet such cost, shall, on or before the fifteenth day of April, 1980, and annually thereafter, be reported to the mayor to be incorporated, with such changes as he or she deems expedient, into the annual budget to be submitted to the city council for the next fiscal year. In adopting an appropriation for operation of the marketplace, the city council shall not determine that any portion thereof be raised by the city tax levy.