39.88.030 - Authority -- Limitations.

Authority — Limitations.

(1) Only public improvements which are determined by the legislative authority of the sponsor to meet the following criteria are eligible to be financed under this chapter:

     (a) The public improvement is located within an urban area;

     (b) The public improvement will encourage private development within the apportionment district;

     (c) The public improvement will increase the fair market value of the real property located within the apportionment district;

     (d) The private development which is anticipated to occur within the apportionment district as a result of the public improvement is consistent with an existing comprehensive land use plan and approved growth policies of the jurisdiction within which it is located;

     (e) A public improvement located within a city has been approved by the legislative authority of such city; and

     (f) A public improvement located within an urban area in an unincorporated area has been approved by the legislative authority of the county within whose boundaries the area lies.

     (2) Apportionment of regular property tax revenues to finance the public improvements is subject to the following limitations:

     (a) No apportionment of regular property tax revenues may take place within a previously established apportionment district where regular property taxes are still apportioned to finance public improvements without the concurrence of the sponsor which established the district;

     (b) No apportionment district may be established which includes any geographic area included within a previously established apportionment district which has outstanding bonds payable in whole or in part from tax allocation revenues;

     (c) The total amount of outstanding bonds payable in whole or in part from tax allocation revenues arising from property located within a city shall not exceed two percent of the value of taxable property within the city, and the total amount of outstanding bonds payable in whole or in part from tax allocation revenues arising from property located within the unincorporated areas of a county shall not exceed two percent of the value of taxable property within the entire unincorporated area of the county; and

     (d) No taxes other than regular property taxes may be apportioned under this chapter.

     (3) Public improvements may be undertaken and coordinated with other programs or efforts undertaken by the sponsor or others and may be funded in whole or in part from sources other than those provided by this chapter.

[1982 1st ex.s. c 42 § 4.]