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• <br /> conducted during the ensuing fiscal year, the proposed annual budget, and a statement of <br /> any adjustment to the assessment rates required for financing the proposed activities and <br /> budget for the ensuing fiscal year. The City Council, after receipt of the proposed budget, <br /> will adopt a resolution setting the time and place for a hearing to be held by the City <br /> Council to consider the proposed activities and budget. Notice of the hearing shall be given <br /> by: (1) one publication of the notice of hearing in a newspaper of general circulation in the <br /> City; and (2) mailing a copy of the proposed activities, budget, and assessment rates for the <br /> ensuing fiscal year to the owner or reputed owner of property in the District whose names <br /> appear as the owners on the records of the City Treasurer, at the address for such owners as <br /> shown on the records of the City Treasurer, or at such other address for a particular owner <br /> as such owner may have previously requested in writing, or, if no address is shown there, to <br /> the address shown in the tax records of the Snohomish County Assessor. At the time fixed <br /> for the hearing, and at the times to which the hearing may be adjourned, the Council may <br /> correct, revise, modify, and amend the proposed activities, budget, and assessment, and <br /> thereafter, by ordinance or resolution, approve the activities, budget, and assessment as <br /> proposed or as modified, and billings for the ensuing annual assessment shall be mailed to <br /> the property owners in the District. <br /> Section 13: APPROVAL OF EXPENDITURES/CONTRACT FOR <br /> PROGRAM MANAGEMENT. <br /> The activities, services and projects to be funded with the special assessment proceeds for <br /> the first year, and the first annual budget as set forth in the materials on file with the City <br /> Clerk, are hereby approved. There is hereby appropriated and authorized to be expended <br /> from the District Fund the sum of$131,600.00, or so much thereof as may be necessary, for <br /> the purposes, projects, activities, and services approved for the first year. Unless otherwise <br /> authorized by the City, the total amount to be specially assessed and expended in <br /> subsequent years shall be as set forth in the annual budget approved by the City. The <br /> particular program and services to be provided for each subsequent annual period and the <br /> amount of funding thereof shall be as approved by ordinance of the City Council, after <br /> notice and hearing as provided by Section 12 hereof. The Mayor is hereby authorized and <br /> directed to contract with the downtown Everett property owners association, or similar <br /> organization, to administer projects and activities for the first year. Thereafter, the City <br /> may continue each year to contract with the downtown Everett property owners <br /> association, or similar organization, to administer the forthcoming annual program, unless a <br /> suitable successor organization is recommended by (a) a majority of the votes of the <br /> ratepayers at their annual meeting weighed by the dollar value of their assessments, (b) a <br /> petition signed by ratepayers paying a majority of the assessments, or (c) by the association <br /> itself <br /> Section 14: RATE CHANGES. <br /> Any change in the assessment shall only be made by ordinance and as authorized in RCW <br /> 35.87A.130-140. To prevent reduction in services due to inflation in prices, the City may <br /> from time to time, upon the recommendation of the advisory board, and by ordinance, <br /> BUSINESS IMPROVEMENT AREA ORDINANCE Page 6 <br />