Ordinance 3714-19 TABLED - Laserfiche WebLink

D. In the event the annual budget approved is greater than the funds which will be available from the total of all assessments within the District for such annual period, calculated at the assessment rates as set forth herein,then such budget shall be reduced to match the revenue.Any unexpected and unobligated budgeted amount remaining at the end of any annual assessment period, and any assessments or funds collected and deposited in the ESDA BIA Fund in excess of the amount authorized to be expended for the annual assessment period in which such excess amounts are received may be expended as may be authorized by the next annual BIA budget approved by the City Finance Director, or as may be authorized by amendment to the current annual budget pursuant to Section 9 or 10 of this ordinance. E. Assessments shall commence as of January 1, 2020. Section 5. Exemptions. A. Property owned by the County, State, and Federal government shall be exempt from the special assessment, provided that nothing herein shall preclude the County, State, or Federal government from agreeing to make payment for any such assessment. B. The following properties shall also be exempt from the special assessment, provided that nothing herein shall preclude such properties from agreeing to make payment for any such assessment: 1. Residential properties that do not meet the definition of"Multifamily residential or mixed-use project" and are not owned by a "Residential Operator," as defined by RCW 35.87A.020; 2. Properties owned by an energy utility district that are used for transmitting electricity or as a substation; 3. Publicly-owned streets and roadways; 4. Properties used exclusively for railroads; and 5. Properties with rights related to mining or future railroad use. Section 6. Collection Schedule. Special assessments shall be collected on a semi-annual basis.The Finance Director(Director) may change the billing frequency by directive. A copy of a directive issued under this Section shall be mailed to all Ratepayers not less than 90 days before the new billing due date is to take effect. Upon termination of the BIA, pursuant to Section 17 or otherwise, no refunds for overpayments of assessments shall be made to persons paying such overpayments unless there are sufficient funds in the District Fund to pay such overpayments, after payment of all other costs, debts, or liabilities incurred on or payable from the District Fund. If there are sufficient funds remaining to refund some of the overpayments, but not all, such refunds shall be pro-rated among those who have made timely claims pursuant to Section 13 herein and are entitled to refunds for overpayment. LI 2019 ORDINANCE: ESDA BIA Page 4 of 12