386.8 - OPERATION TAX.

        386.8  OPERATION TAX.         A city may establish a self-supported improvement district      operation fund, and may certify taxes not to exceed the rate      limitation as established in the ordinance creating the district, or      any amendment thereto, each year to be levied for the fund against      all of the property in the district, for the purpose of paying the      administrative expenses of the district, which may include but are      not limited to administrative personnel salaries, a separate      administrative office, planning costs including consultation fees,      engineering fees, architectural fees, and legal fees and all other      expenses reasonably associated with the administration of the      district and the fulfilling of the purposes of the district.  The      taxes levied for this fund may also be used for the purpose of paying      maintenance expenses of improvements or self-liquidating improvements      for a specified length of time with one or more options to renew if      such is clearly stated in the petition which requests the council to      authorize construction of the improvement or self-liquidating      improvement, whether or not such petition is combined with the      petition requesting creation of a district.  Parcels of property      which are assessed as residential property for property tax purposes      are exempt from the tax levied under this section except residential      properties within a duly designated historic district.  A tax levied      under this section is not subject to the levy limitation in section      384.1.  
         Section History: Early Form
         [C77, 79, 81, § 386.8] 
         Section History: Recent Form
         85 Acts, ch 113, §2