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1 <br /> within the geographical limits of the BIA and twenty-five percent(25%)of the annual BIA revenue <br /> shall be based on the assessed value of each individual property within the geographical limits of <br /> the BIA. <br /> The assessment for properties which are partially inside and partially outside of the <br /> geographic limits of the BIA shall be proportionate to the percentage of the property that lies inside <br /> the SIA. <br /> Section 2. Section 6 of Ordinance No.2842-05,which reads as follows: <br /> A. The initial assessment and subsequent annual assessments showing the rate of the special <br /> assessment,the lineal footage and assessed value on which it is calculated,and the total assessment <br /> for each separate ownership, shall be mailed to the owner or reputed owner whose name appears <br /> as the owner on the tax rolls of the Snohomish County Assessor and at the address for such owner <br /> as shown on the tax rolls of the Snohomish County Assessor or the records of the City of Everett. <br /> Subsequent annual assessments,with the applicable rate,lineal footage and assessed value, <br /> and total assessment for each separate ownership, may be sent by ordinary mail or delivered by <br /> the City to the owner or reputed owner as shown on the records of the City, and if no address is <br /> shown there,to the address shown in the tax records of the Snohomish County Assessor.It will be <br /> presumed that ownership and the address of any owner or reputed owner remains the same as at <br /> the time of mailing of the initial annual assessment unless the City receives written notice of a <br /> change in the address of the owner to which the assessment notice is to be mailed. <br /> Duplicate notices will be mailed upon request of the owner to the owner's named <br /> representative at the address given in such written request of the owner. <br /> B. In the event the annual budget approved is greater or less than the funds which will be <br /> available from the total of all assessments within the District for such annual period, calculated at <br /> the assessment rates as set forth in Section 4 of this ordinance,then such rates shall be adjusted on <br /> a pro-rata-basis in an amount-which,w d by the total assessable line- footageand <br /> _ assessed value in the District,will produce a total sum equal to the approved total budget amount <br /> for the annual period for which the special assessment is being made. Any unexpected and <br /> unobligated budgeted amount remaining at the end of any annual assessment period, and any <br /> assessments or funds collected and deposited in the District Fund in excess of the amount <br /> authorized to be expended for the annual assessment period in which such excess amounts are <br /> received may be expended as may be authorized by the next annual BIA budget approved by the <br /> City Council, or as may be authorized by amendment to the current annual budget pursuant to <br /> Section 20 of this ordinance. <br /> is hereby amended to read as follows: <br /> A. The initial assessment and subsequent annual assessments showing the rate of the special <br /> assessment, the land square footage and assessed value on which it is calculated, and the total <br /> assessment for each separate ownership, shall be mailed to the owner or reputed owner whose <br /> name appears as the owner on the tax rolls of the Snohomish County Assessor and at the address <br /> for such owner as shown on the tax rolls of the Snohomish County Assessor or the records of the <br /> City of Everett. <br /> Page 22of 7 <br />