§ 6-9-116. Termination of area of benefit.

Upon the receipt of an application by a landowner or developer, or on its own motion, the City Council may initiate proceedings for the termination of an area of benefit by adopting a resolution stating its intention to do so. The resolution of intention shall state the time and place at which the City Council will hold a hearing to consider such termination. If, at the conclusion of such hearing, the City Council finds and determines that the capital improvement for which the area was originally formed will not be required in the reasonably foreseeable future, or that the installation of said capital improvement may be financed more effectively by another method, the City Council may adopt a resolution declaring the area of benefit terminated. Upon the termination of the area of benefit, the money remaining in the special fund established in connection therewith shall be returned to those persons who had made payment thereof in proportion to the amount of their payments.

(Code 1976, § VI.N-114; Ord. No. 167, § 14, 5-25-76)