07
LC 18 6379
House
Bill 792
By:
Representatives Hill of the
21st,
Jerguson of the
22nd,
Hamilton of the
23rd,
and Byrd of the
20th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
provide for the creation of one or more community improvement districts in the
City of Canton; 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; to
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.
Short title.
Short title.
This
Act shall be referred to as the "City of Canton 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 the City of Canton, 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 of the State of Georgia and the
resolution activating each district as it now exists or hereafter amended or
supplemented as provided for by law, including, but not limited to:
(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, to transport two or more persons in
conveyances, to improve air quality, and to 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 Georgia 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)
"City council" means the city council of the City of Canton.
(5)
"City governing authority or body" means the city council and the
mayor.
(6)
"District" means the geographical area designated as such by the resolution of
the governing body of the City of Canton 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, or a body corporate and politic being a community
improvement district created and activated pursuant hereto, as the context
requires or permits.
(7)
"Electors" means the owners of real property within the given district which is
subject to taxes, fees, and assessments levied by the board, as they appear on
the most recent ad valorem real property tax return records of Cherokee County,
or 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
Cherokee County tax commissioner and the city clerk of the City of Canton 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
indicate 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)
"Mayor" means the mayor of the City of Canton.
(12)
"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
improvements for the purposes set forth in Section 2 of this Act.
(13)
"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 Cherokee County within the district as certified by the Cherokee
County tax commissioner.
(14)
"Property used nonresidentially" means property or any portion thereof used for
neighborhood shopping, planned shopping centers, general commercial, transient
lodging facilities, tourist services, office or institutional, 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.
(15)
"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
homestead exemption has been filed and accepted.
(16)
"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.
(17)
"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 Cherokee County Board of Tax Assessors.
SECTION
4.
Creation.
Creation.
Pursuant
to Article IX, Section VII of the Constitution of the State of Georgia, there is
created one or more community improvement districts to be located in the City of
Canton, Georgia, 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:
(1)
The adoption of a resolution consenting to the creation of the community
improvement district or districts by the governing authority for the City of
Canton 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 paragraph shall be submitted to the
Cherokee County tax commissioner, who shall certify whether subparagraphs (A)
and (B) of this paragraph 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 city clerk of the City of Canton,
who shall each maintain a record of the district activated under this Act.
Nothing contained herein shall limit the ability of the governing authority of
the City of Canton to implement more than one community improvement district so
long as the requirements hereof and of the Georgia 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 governing
authority of the City of Canton 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 hereto 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 hereinafter
provided:
(1)
Two board members shall be appointed by the mayor of the City of Canton, and
confirmed by a majority of the city council, one of whom shall be a member of
the city council, 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 post positions 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 and 2 shall be cast by
electors, and votes for posts 3, 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 which appointed him or her. 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 the City of Canton 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 the City of Canton shall
designate after notice thereof shall have been given to said electors by
publishing same in the legal organ of Cherokee 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 Cherokee 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
thereof, 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 election held hereunder, notice thereof shall be given to said
electors by publishing notice thereof in the legal organ of Cherokee County at
least once each week for four weeks prior to such 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 municipality´s 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 incorporated area of
the City of Canton or within a municipality, respectively, 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. 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 governing authority for
the City of Canton may implement with the adoption of the resolution creating to
the consent of the creation of 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
municipality as a whole. Any tax, fee, or assessment so levied shall be
collected by the City of Canton in the same manner as taxes, fees, and
assessments are levied by the City of Canton. Delinquent taxes shall bear the
same interest and penalties as City of Canton 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 the City of Canton 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 the City of Canton, nor the Cherokee County tax commissioner shall expend for any purpose not authorized by the board of this district, any such taxes, fees, or charges assessed and collected hereunder except for 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.
(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 the City of Canton, nor the Cherokee County tax commissioner shall expend for any purpose not authorized by the board of this district, any such taxes, fees, or charges assessed and collected hereunder except for 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 as such by
the City of Canton 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 of the
State of Georgia, 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 governing body of the
City of Canton, and any municipalities 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 the City of Canton or any such
municipality or any such authority to provide services or facilities within the
district; and the City of Canton or such municipalities shall retain full and
complete authority and control over any of its facilities located within its
respective areas of 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 municipality or 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.
Powers.
(a)
The district and the board created pursuant hereto shall have all of the powers
necessary or convenient to carry out and effectuate the purposes and provisions
hereof, including, 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
of the district or any 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, 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 district´s
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 of this state, 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 with which the district contracts 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 the City of Canton and any municipal
corporations 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 community
improvement district by the City of Canton and such 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
Cherokee County tax commissioner, 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 a 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 a 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.