|SB 0254||Transportation Development Districts - Formation, Funds|
|Last Action:||02/07/95 - Hearing Conducted S Transportation Committee|
|Effective Date:||August 28, 1995|
SB 254 - Transportation development districts may be created by petition of the owners of all of the real property in the district. No vote shall be required. The court shall certify the district and its stated funding methods.
BOARD OF DIRECTORS - After the organization of any district, the court clerk shall publicize a meeting of the owners of real property in the district. The owners shall elect a board of 5 to 15 directors. They shall vote according to acreage owned. Directors need not be residents of the district.
FUNDING - Districts may use tax increment financing to raise
funds. Special assessments may be approved by a petition by all
of the property owners. The form for the petition is specified.
The limit on total sales tax rates of 1/2% for tranportation and
capital improvements is repealed. Sales taxes may not be
repealed until the district is able to repay its liabilities.
Sales taxes are no longer limited to districts which have the
same boundaries as cities and counties. Districts may mortgage
property which they obtained by eminent domain.