91.754 Petition proceedings to request establishment of district.

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Page 1 of 1 91.754 Petition proceedings to request establishment of district. (1) A city, consolidated local government, or urban-county government may initiate proceedings to establish a management district upon receipt by the executive authority of a written petition requesting the formation of a management district. A petition requesting the formation of a management district shall contain: (a) The signatures and addresses of at least thirty-three percent (33%) of the owners of real property within the proposed management district and a number of real property owners, who together are the owners of real property equal to at least fifty-one percent (51%) of the assessed value of property within the proposed management district; (b) An accurate description of the boundaries of the proposed management district; (c) An economic improvement plan that shall provide: 1. A description of the economic improvements to be provided within the district; 2. A preliminary estimate of the annual costs of the proposed economic improvements; 3. The proposed method of assessing the costs of the economic improvements against the properties; and (d) The proposed makeup of the board of directors of the management district, its powers and duties. (2) When a petition satisfying the requirements of subsection (1) of this section is received by the executive authority, he or she shall forward it to the legislative body which may proceed to enact an ordinance establishing a management district as provided in KRS 91.756. Effective: June 20, 2005 History: Amended 2005 Ky. Acts ch. 119, sec. 3, effective June 20, 2005. -- Amended 1996 Ky. Acts ch. 123, sec. 3, effective July 15, 1996. -- Created 1990 Ky. Acts ch. 297, sec. 3, effective July 1990.