06 LC 18
5219
House
Bill 1415
By:
Representatives Holt of the
112th,
Mumford of the
95th,
and Lunsford of the
110th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
provide for the creation of one or more community improvement districts in
Newton County; to provide for a short title; to provide for the purposes of said
district or districts; to provide for definitions; to provide for a board to
administer said district or districts; to provide for the appointment and
election of members of said board or boards; to provide for taxes, fees, and
assessments; to provide for establishment of the boundaries of said district or
districts; to provide for a tax cap; to specify conditions whereby the continued
existence of the district or districts or the continued existence of any one or
more of the powers granted to the district or districts may be terminated; to
provide procedures for termination of the district or districts; to provide for
the alteration of district boundaries and the practices, procedures, and
requirements related thereto; to provide for debt of said district or districts;
to provide for cooperation with local governments; to provide for powers of said
boards; to provide for notes and other obligations of said district or
districts; to provide for authorized contents of agreements and instruments of
the board generally, use of proceeds of notes or other obligations, and
subsequent issues of notes or other obligations; to provide for construction;
provide that no notice, proceeding, publication, or referendum shall be
required; to provide for dissolution; to provide the procedures connected with
all of the foregoing; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA
SECTION
1.
This
Act shall be known and may be cited as the "Newton County Community Improvement
District Act."
SECTION
2.
Purpose.
Purpose.
The
purpose of this Act shall be to provide enabling legislation for the creation of
one or more community improvement districts within unincorporated Newton County,
and such district or districts may be created for the provision of some or all
of the following governmental services and facilities as provided and authorized
by Article IX, Section VII of the Constitution and the resolution activating
each district as it now exists or is hereafter amended or supplemented as
provided for by law:
(1)
Street and road construction and maintenance, including curbs, sidewalks, street
lights, and devices and services to control the flow of traffic on streets and
roads or services in connection therewith;
(2)
Parks and recreational areas and facilities and services;
(3)
Public transportation, including, but not limited to, services intended to
reduce the volume of automobile traffic, transport two or more persons in
conveyances, improve air quality, and provide bicycle and pedestrian facilities
and the operation of a traffic management association or similar entity and
services;
(4)
Terminal and dock facilities and parking facilities and services;
and
(5)
Such other services and facilities as may be provided for by general law or as
the Constitution may authorize or provide now or hereafter.
SECTION
3.
Definitions.
Definitions.
As
used in this Act, the term:
(1)
"Agricultural" means the growing of crops for sale or the raising of animals for
sale or use, including the growing of field crops, fruit or nut trees, the
raising of livestock or poultry, and the operation of dairies, horse boarding
facilities, and riding stables.
(2)
"Board" means the governing body created for the governance of a community
improvement district herein authorized.
(3)
"Caucus of electors" means the meeting of electors hereinafter provided for at
which the elected board members of the district are elected. A quorum at such
caucus shall consist of those electors present, and a majority of those present
and voting is necessary to elect board members. No proxy votes may be
cast.
(4)
"County Commission" means the board of commissioners of Newton
County.
(5)
"County governing authority" means the board of commissioners of Newton
County.
(6)
"District" means the geographical area designated as such by the resolution of
the governing body of Newton County consenting to the creation of the community
improvement district or districts or as thereafter modified by any subsequent
resolution of the governing body or bodies within which the district is or is to
be located. "District" may also mean a body corporate and politic being a
community improvement district created and activated pursuant hereto, as the
context requires or permits.
(7)
"Elector" means the owner of real property within the given district which is
subject to taxes, fees, and assessments levied by the board as such owner
appears on the most recent ad valorem real property tax return records of Newton
County. "Elector" may also mean one officer or director of a corporate elector,
one trustee of a trust which is an elector, one partner of a partnership
elector, or one designated representative of an elector whose designation is
made in writing to the tax commissioner of Newton County and the county clerk at
least ten days prior to an election. An owner of property that is subject to
taxes, fees, or assessments levied by the board shall have one vote for an
election based on numerical majority. An owner of multiple parcels has one
vote, not one vote per parcel, for an election based on numerical majority.
Multiple owners of one parcel have one vote for an election based on numerical
majority which must be cast by one of their number who is designated in
writing.
(8)
"Equity electors" means electors who cast votes equal to each $1,000.00 value of
all owned real property within the given district which is then subject to
taxes, fees, and assessments levied by the board. Value of real property shall
be the assessed value.
(9)
"Forestry" means the planting and growing of trees for sale in a program which
includes reforestation of harvested trees, regular underbrush and undesirable
growth clearing, fertilizing, pruning, thinning, cruising, and marking which
indicates an active tree farming operation. The term does not include the
casual growing of trees on land otherwise idle or held for investment, even
though some harvesting of trees may occur thereon.
(10)
"Hereby," "herein," "hereunder," and "herewith" mean under this
Act.
(11)
"Project" means the acquisition, construction, installation, modification,
renovation, or rehabilitation of land, interests in land, buildings, structures,
facilities, or other improvements, including operation of facilities or other
improvements, located or to be located within or otherwise providing service to
the district and the acquisition, installation, modification, renovation,
rehabilitation, or furnishing of fixtures, machinery, equipment, furniture, or
other property of any nature whatsoever used on, in, or in connection with any
such land, interest in land, building, structure, facility, or other improvement
for the purposes set forth in Section 2 of this Act.
(12)
"Property owner" or "owner of real property" means any entity or person shown as
a taxpayer for one or more parcels of real estate on the most recent ad valorem
tax records of Newton County within the district as certified by the tax
commissioner of Newton County.
(13)
"Property used nonresidentially" means property or any portion thereof used for
neighborhood shopping, planned shopping centers, general commercial buildings,
transient lodging facilities, tourist services, office or institutional
buildings, office services, light industry, heavy industry, central business
district, parking, or other commercial or business use or vacant land zoned or
approved for any of the aforementioned uses which do not include
residential.
(14)
"Residential" means a specific structure, work, or improvement undertaken
primarily to provide either single family or multifamily dwelling accommodations
for persons and families of four units or less and for which an application for
a homestead exemption has been filed and accepted.
(15)
"Taxpayer" means an entity or person paying ad valorem taxes on real property,
whether on one or more parcels of property within the district. Multiple owners
of one parcel shall constitute one taxpayer and shall designate in writing one
of their number to represent the whole.
(16)
"Value" or "assessed value" of property means the values established in the most
recent ad valorem tax reassessment of such properties certified by the
chairperson of the Newton County Board of Tax Assessors.
SECTION
4.
Creation.
Creation.
Pursuant
to Article IX, Section VII of the Constitution, there is created one or more
community improvement districts to be located in unincorporated Newton County
wholly within the incorporated area thereof, which shall be activated upon
compliance with the conditions set forth in this section. Each district, if
more
than one are implemented, shall be governed as directed by this Act. The conditions for such activation shall be:
than one are implemented, shall be governed as directed by this Act. The conditions for such activation shall be:
(1)
The adoption of a resolution consenting to the creation of the community
improvement district or districts by the county governing authority and imposing
such conditions on the projects and activities which may be undertaken as will
ensure their compatibility with adopted city policies and planning for the area;
and
(2)
The written consent to the creation of the community improvement district
by:
(A)
A majority of the owners of real property within the given district which will
be subject to taxes, fees, and assessments levied by the board of the given
district; and
(B)
The owners of real property within the given district which constitutes at least
75 percent by value of all real property within the district which will be
subject to taxes, fees, and assessments levied by the board. For this purpose,
value shall be determined by the most recent approved county ad valorem tax
digest.
The
written consent provided for in this section shall be submitted to the tax
commissioner of Newton County, who shall certify whether paragraphs (1) and (2)
of this section have been satisfied with respect to such proposed district. The
district or districts or respective board or boards created under this Act shall
not transact any business or exercise any powers under this Act until the
foregoing conditions are met. A copy of such resolutions shall be filed with
the Secretary of State and with the clerk of Newton County, who shall each
maintain a record of the district activated under this Act. Nothing contained
herein shall limit the ability of the county governing authority to implement
more than one community improvement district so long as the requirements hereof
and of the Constitution are satisfied. The provisions of this Act shall be
construed so as to provide for the independent application and exercise of all
powers for each district contained herein including the ability to levy taxes as
outlined herein as separately and independently authorizing and empowering such
separate community improvement districts created hereby. Nothing contained
herein shall require the county governing authority to create more than one
community improvement district or to require the creation of a new district if
the district boundaries of an existing district are changed, added to,
supplemented, or modified.
SECTION
5.
Administration, appointment, and election of board members.
Administration, appointment, and election of board members.
Each
district created pursuant herein shall be administered either by the governing
authority or by a board as prescribed under this Act. In the event that a
district is to be governed by such a board, the board shall be composed of a
minimum of seven board members to be appointed and elected as
follows:
(1)
Two board members shall be appointed by the chairperson of the county governing
authority and confirmed by a majority thereof, one of whom shall be a member of
the county commission, to serve in Posts 6 and 7. Three board members shall be
elected by the vote of electors, and two members shall be elected by the vote of
equity electors. The members representing the electors and equity electors
shall be elected to serve in Posts 1 through 5, respectively. Each elected
board member must receive a majority of the votes cast for the post for which he
or she is a candidate. Votes for Posts 1, 2, and 3 shall be cast by electors,
and votes for Posts 4 and 5 shall be cast by the equity electors. The initial
term of office for the members representing Posts 1 and 3 shall be one year.
The initial term of office for the members representing Posts 2 and 5 shall be
two years, and the initial term of office of the members representing Post 3
shall be three years. Thereafter, all terms of office shall be for four years,
except the appointed board members who shall serve at the pleasure of the
appointing body. Elected board members shall be subject to recall in the same
manner as elected.
(2)
The initial board members to be elected as provided in paragraph (1) of this
section shall be elected in a caucus of electors which shall be held within 120
days after the adoption of the resolution by Newton County consenting to the
creation of the district, and the obtaining of the written consents herein
provided at such time and place within the district as Newton County shall
designate after notice thereof shall have been given to said electors by
publishing same in the legal organ of Newton County as hereinafter provided.
Thereafter, there shall be conducted annually, not later than 120 days following
the last day for filing ad valorem real property tax returns in Newton County, a
caucus of said electors at such time and place within the district as the board
shall designate in such notice for the purpose of electing board members to
those board member positions whose terms expire or are vacant. If a vacancy
occurs in an elected position on the board, the board shall, within 60 days of
such vacancy, call a special election to fill the same to be held within 60 days
of the call unless such vacancy occurs within 180 days of the next regularly
scheduled election, in which case a special election may, but need not, be
called. For any special election to fill a vacancy, notice thereof shall be
given to the appropriate electors by publishing notice thereof in the legal
organ of Newton County at least once each week for four weeks prior to such
special election.
(3)
Board members shall receive no compensation for their services, but shall be
reimbursed for actual expenses reasonably incurred in the performance of their
duties. They shall elect one of their number as chairperson and another as vice
chairperson. They shall also elect a secretary and a treasurer, or a
secretary/treasurer, either of whom may, but need not, be a member of the board
or an elector.
(4)
If the boundaries of a district are subsequently changed after creation of the
district to include land within a municipality which was not a party to the
creation of the district, or if a
municipalitýs
boundaries are changed to include land within an existing district, the
governing authority of the municipality shall acquire the right to appoint a
member to the board of the district upon entering into the cooperation agreement
provided for in Section 9 of this Act. If, by municipal annexation or by
deannexation of land from a district, the district no longer includes land
within the unincorporated area of Newton County, then the board member of the
district appointed by such governing authority in which the district is no
longer located shall cease to be a board member.
(5)
Chapter 2 of Title 21 of the O.C.G.A., the "Georgia Election Code," shall not
apply to the election of district board members. Should a vacancy in office of
a district board member occur, and the regular caucus of electors is more than
six months in the future, a special election shall be called to fill such
vacancy, unless it is filled by appointment as hereinabove
required.
(6)
The district board may adopt such bylaws not inconsistent herewith to provide
for any matter concerning such elections.
SECTION
6.
Taxes, fees, and assessments.
Taxes, fees, and assessments.
(a)
The board may levy taxes, fees, and assessments within the district only on real
property used nonresidentially, specifically excluding all property exempt from
ad valorem taxation under the Constitution or laws of the State of Georgia; all
property used for residential, agricultural, or forestry purposes; and all
tangible personal property and intangible property. Any tax, fee, or assessment
so levied shall not exceed 2.5 percent of the aggregate assessed value of all
such real property, subject to such limitations as the county governing
authority may implement with the adoption of the resolution creating said
district. The taxes, fees, and assessments levied by the board shall be
equitably apportioned among the properties subject to such taxes, fees, and
assessments according to the need for governmental services and facilities
created by the degree of density of development of each such property. The
proceeds of taxes, fees, and assessments levied by the board shall be used only
for the purpose of providing those governmental services and facilities set
forth in Section 2 of this Act which are specially required by the degree of
density of development within the district and not for the purpose of providing
those governmental services and facilities provided to the county as a whole.
Any tax, fee, or assessment so levied shall be collected by Newton County in the
same manner as taxes, fees, and assessments are levied by Newton County.
Delinquent taxes shall bear the same interest and penalties as Newton County ad
valorem taxes and may be enforced and collected in the same manner. The
proceeds of taxes, fees, and assessments so levied, less a fee to cover the
costs of collection of 0.25 percent thereof, but not more than $10,000.00 in any
one calendar year, shall be transmitted as soon as they are acquired by Newton
County to the board, and shall be expended by the board only for the purposes
authorized hereby.
(b) The board shall levy the taxes provided for in subsection (a) of this section subsequent to the report of the assessed taxable values for the current calendar year and notify in writing the collecting governing bodies so they may include the levy on their regular ad valorem tax bills, if possible.
(c) There shall be a segregation of all funds from the levy of taxes, fees, and assessments as described hereunder for the district, and neither Newton County nor the tax commissioner of Newton County shall expend for any purpose not authorized by the board of the district any such taxes, fees, or charges assessed and collected hereunder except such costs as may be attributed to the billing and collection of such fees, levies, and assessments.
(d) If, but for this provision, a parcel of real property is removed from a district or otherwise would become nontaxable, it shall continue to bear the tax millage levied by the district then extant upon such parcel for indebtedness of the district then outstanding until said indebtedness is paid or refunded.
(b) The board shall levy the taxes provided for in subsection (a) of this section subsequent to the report of the assessed taxable values for the current calendar year and notify in writing the collecting governing bodies so they may include the levy on their regular ad valorem tax bills, if possible.
(c) There shall be a segregation of all funds from the levy of taxes, fees, and assessments as described hereunder for the district, and neither Newton County nor the tax commissioner of Newton County shall expend for any purpose not authorized by the board of the district any such taxes, fees, or charges assessed and collected hereunder except such costs as may be attributed to the billing and collection of such fees, levies, and assessments.
(d) If, but for this provision, a parcel of real property is removed from a district or otherwise would become nontaxable, it shall continue to bear the tax millage levied by the district then extant upon such parcel for indebtedness of the district then outstanding until said indebtedness is paid or refunded.
SECTION
7.
Boundaries of the district.
Boundaries of the district.
(a)
The boundaries of the district or districts shall be as designated by Newton
County as set forth in the resolution required in Section 4 of this Act or as
may thereafter be added as hereinafter
provided.
(b) The boundaries of the district or districts may be increased after the initial creation of a district if:
(b) The boundaries of the district or districts may be increased after the initial creation of a district if:
(1)
Written consent of the owners of any real property sought to be annexed is first
obtained;
(2)
The board of the district adopts a resolution consenting to the annexation;
and
(3)
A resolution is adopted which grants consent to the annexation by the governing
authority of such municipalities as may have area within the district before or
after the annexation.
SECTION
8.
Debt.
Debt.
Except
as otherwise provided in this section, the district may incur debt without
regard to the requirements of Article IX, Section V of the Constitution, which
debt shall be backed by the full faith and credit and taxing power of the
district but shall not be an obligation of the State of Georgia or any other
unit of government of the State of Georgia other than the district; provided,
however, that the board and the district may not issue bonds validated under or
in accordance with Article 3 of Chapter 82 of Title 36 of the O.C.G.A., known as
the "Revenue Bond Law," or in accordance with such other successor provisions
governing bond validation generally or as may be provided by law.
SECTION
9.
Cooperation with local governments.
Cooperation with local governments.
The
services and facilities provided pursuant hereto may be provided for in a
cooperation agreement executed jointly by the board, the county governing
authority, and other governmental authorities or agencies within which the
district is partially located. The provisions of this section shall in no way
limit the authority of Newton County or any such authority or agency to provide
services or facilities within the district; and Newton County shall retain full
and complete authority and control over any of its facilities located within any
district. Said control shall include but not be limited to the modification of,
access to, and degree and type of services provided through or by facilities of
the county. Nothing contained in this section shall be construed to limit or
preempt the application of any governmental laws, ordinances, resolutions, or
regulations to the district or the services or facilities provided
therein.
SECTION
10.
Powers; exclusions.
Powers; exclusions.
(a)
The district and the board shall have all of the powers necessary or convenient
to carry out and effectuate the purposes and provisions of this Act; provided,
however, that no provision of this Act shall be construed to authorize or
otherwise permit the exercise of condemnation or eminent domain powers. The
powers under this section shall include, without limiting the generality of the
foregoing, the power to:
(1)
Bring and defend actions;
(2)
Adopt and amend a corporate seal;
(3)
Make and execute contracts, agreements, and other instruments necessary or
convenient to exercise the powers of the board or to further the public purposes
for which the district is created, including, but not limited to, contracts for
construction of projects, leases of projects, contracts for sale of projects,
agreements for loans to finance projects, contracts with respect to the use of
projects, and agreements with other jurisdictions or community improvement
districts regarding multijurisdictional projects or services or for other
cooperative endeavors to further the public purposes of the
district;
(4)
Acquire by purchase, lease, or otherwise and to hold, lease, and dispose of real
and personal property of every kind and character, or any interest therein, in
furtherance of the public purposes of the district;
(5)
Finance (by loan, private grant, lease, or otherwise), construct, erect,
assemble, purchase, acquire, own, repair, remodel, renovate, rehabilitate,
modify, maintain, extend, improve, install, sell, equip, expand, add to,
operate, or manage projects and to pay the cost of any project from the proceeds
or other funds of the district or from any contributions or loans by persons,
corporations, partnerships (whether limited or general), or other entities, all
of which the board is authorized to receive, accept, and use;
(6)
Borrow money to further or carry out its public purposes and to execute bonds,
notes, and other obligations, leases, trust indentures, trust agreements,
agreements for the sale of its notes, or other obligations, loan agreements,
security agreements, assignments, and such other agreements or instruments as
may be necessary or desirable, in the judgment of the board, to evidence and to
provide security for such borrowing;
(7)
Issue notes, or other obligations of the district and use the proceeds thereof
for the purpose of paying all or any part of the cost of any project and
otherwise to further or carry out the public purposes of the district and to pay
all reasonably incurred costs of the board incidental to, or necessary and
appropriate to, furthering or carrying out such purposes; provided, however,
that the board and the district may not issue bonds validated under or in
accordance with Article 3 of Chapter 82 of Title 36 of the O.C.G.A., known as
the "Revenue Bond Law," or in accordance with such other successor provisions
governing bond validation generally or as may be provided by law;
(8)
Make application directly or indirectly to any private source for loans, grants,
guarantees, or other financial assistance in furtherance of the
district́s
public purposes and to accept and use the same upon such terms and conditions as
are prescribed by such private source; provided, however, that the district and
the board shall not have the power to apply for, receive, administer, or utilize
grants from federal, state, county, or municipal governments or agencies or any
other public sources;
(9)
Enter into agreements with the federal government or any agency thereof to use
the facilities or services of the federal government or any agency thereof in
order to further or carry out the public purposes of the district;
(10)
Contract for any period, not exceeding 50 years, with the State of Georgia,
state institutions, or any municipal corporation, county, or political
subdivision of this state for the use by the district of any facilities or
services of the state or any such state institution, municipal corporation,
county, or political subdivision or for the use by any state institution or any
municipal corporation, county, or political subdivision of the state of any
facilities or services of the district, provided that such contracts shall deal
with such activities and transactions as the district and any such political
subdivision are authorized by law to undertake;
(11)
Grant, mortgage, convey, assign, or pledge its property revenues or taxes or
fees or assessments to be received as security for its notes or other
indebtedness and obligations;
(12)
Receive and use the proceeds of any tax levied by any county or any municipal
corporation to pay the costs of any project or for any other purpose for which
the board may use its own funds pursuant hereto;
(13)
Receive and administer gifts, private grants, and devises of money and property
of any kind and to administer trusts;
(14)
Use any real property, personal property, or fixtures or any interest therein or
to rent or lease such property to or from others or make contracts with respect
to the use thereof or to sell, lease, exchange, transfer, assign, pledge, or
otherwise dispose of or grant options for any such property in any manner as it
deems to be the best advantage of the district and the public purposes
thereof;
(15)
Appoint, select, and employ engineers, surveyors, architects, urban or city
planners, fiscal agents, attorneys, and others and to fix their compensation and
pay their expenses;
(16)
Encourage and promote the improvement and development of the district and to
make, contract for, or otherwise cause to be made long range plans or proposals
for the district in cooperation with Newton County and any municipal corporation
in which the district is wholly or partially located;
(17)
Invest its funds, whether derived from the issuance of its bonds or otherwise,
in such manner as it may deem prudent and appropriate, without further
restriction;
(18)
Adopt bylaws governing the conduct of business by the board, the election and
duties of officers of the board, and other matters which the board determines to
deal with in its bylaws;
(19)
Exercise any power granted by the laws of this state to public or private
corporations which is not in conflict with the public purposes of the district;
and
(20)
Do all things necessary or convenient to carry out the powers conferred
hereby.
(b)
The powers enumerated in subsection (a) of this section are cumulative of and in
addition to those powers enumerated herein and elsewhere in this Act, and no
such power limits or restricts any other power of the board except where
expressly noted.
SECTION
11.
Construction; notice, proceeding, publication, referendum.
Construction; notice, proceeding, publication, referendum.
This
Act shall be liberally construed to effect the purposes hereof. No notice,
proceeding, or publication except those required hereby shall be necessary to
the performance of any act authorized hereby, nor shall any such act be subject
to referendum.
SECTION
12.
Applicability of Chapter 5 of Title 10 of the O.C.G.A.,
the "Georgia Securities Act of 1973."
Applicability of Chapter 5 of Title 10 of the O.C.G.A.,
the "Georgia Securities Act of 1973."
The
offer, sale, or issuance of notes or other obligations by the district shall not
be subject to regulation under Chapter 5 of Title 10 of the O.C.G.A., the
"Georgia Securities Act of 1973."
SECTION
13.
Dissolution.
Dissolution.
(a)
A district activated under the provisions of this Act may be dissolved upon the
occurrence of any of the following:
(1)
The adoption of a resolution approving of the dissolution of the district by
Newton County and all municipalities if partially within one or more
municipalities; or
(2)
The written consent to the dissolution of the community improvement district
by:
(A)
A majority of the owners of real property within the district subject to taxes,
fees, and assessments levied by the board of the district; or
(B)
The owners of real property constituting at least 75 percent by value of all
real property within the district subject to taxes, fees, and assessments levied
by the board. For this purpose, value shall be determined by the most recent
approved county ad valorem tax digest. The written consent provided for in this
paragraph shall be submitted to the tax commissioner of Newton County, who shall
certify whether subparagraphs (A) and (B) of this paragraph have been satisfied
with respect to the proposed district dissolution.
(b)
In the event that successful action is taken pursuant to this section to
dissolve the district, the dissolution shall become effective at such time as
all debt obligations of the district have been satisfied. Following a
successful dissolution action and until the dissolution becomes effective, no
new projects may be undertaken, obligations or debts incurred, or property
acquired.
(c) Upon a successful dissolution action, all noncash assets of the district other than public facilities or land or easements to be used for such public facilities, as described in Section 2 of this Act, shall be reduced to cash and, along with all other cash on hand, shall be applied to the repayment of any debt obligation of the district. Any cash remaining after all outstanding obligations are satisfied shall be refunded to each property owner in direct proportion to the total amount in taxes, fees, or assessments paid by the property owner relative to the total revenues paid by all properties in the district.
(d) When a dissolution becomes effective, the municipal governing authority, or the governing authority of the county if wholly within the incorporated area thereof, shall take title to all property previously in the ownership of the district and all taxes, fees, and assessments of the district shall cease to be levied and collected.
(e) A district may be reactivated in the same manner as an original activation.
(c) Upon a successful dissolution action, all noncash assets of the district other than public facilities or land or easements to be used for such public facilities, as described in Section 2 of this Act, shall be reduced to cash and, along with all other cash on hand, shall be applied to the repayment of any debt obligation of the district. Any cash remaining after all outstanding obligations are satisfied shall be refunded to each property owner in direct proportion to the total amount in taxes, fees, or assessments paid by the property owner relative to the total revenues paid by all properties in the district.
(d) When a dissolution becomes effective, the municipal governing authority, or the governing authority of the county if wholly within the incorporated area thereof, shall take title to all property previously in the ownership of the district and all taxes, fees, and assessments of the district shall cease to be levied and collected.
(e) A district may be reactivated in the same manner as an original activation.
SECTION
14.
Repealer.
Repealer.
All
laws and parts of laws in conflict with this Act are repealed.