(1) The commissioners of a municipal improvement district may require the assessors to revise their assessment only one (1) time per annum, increasing or diminishing the assessment against particular pieces of property as justice may require.
(2) However, the total amount of benefits shall not be diminished if the district borrowed money or incurred indebtedness.
(3) The reassessment shall be filed with the city clerk or town clerk.
(4) Before the filing of the reassessment with the city or town clerk under this section, the requirements of this section, § 14-88-505, and other applicable law shall be met.
(5) The filing under subdivision (b)(1)(A) of this section shall include without limitation: Minutes of the meeting in which action was taken by the board concerning a reassessment under this section;
(6) Affidavit of compliance with notification requirements; and
(7) A detailed plan for use of the reassessment moneys and a proposed budget for implementation.
(8) On the filing of a reassessment with the city clerk or town clerk, the city clerk or town clerk shall publish in a newspaper published in the county one (1) time a week for two (2) weeks a notice as follows:
(9) The notice shall be mailed by the district to all record owners of property in the district on the date of the first publication, and an affidavit of mailing shall be filed with the city clerk or town clerk at least six (6) days before the hearing date.
(10) The notice shall be posted prominently and continuously in the district at least thirty (30) days before the hearing date.
(11) On the day named by the notice, the commissioners of the district shall meet at the place named, hear all matters raised concerning the assessment, and adjust the assessment if necessary.
(12) When assessments of benefits are revised and notice is given as provided in this section, the assessments shall be final and conclusive if approved by the governing body of the city or town and unless suit is brought in the circuit court within thirty (30) days after action is taken by the governing body for the purpose of correcting the assessment.
(13) Notice shall be given by the district to all record owners of property in the district at least ten (10) days prior to the meeting date of the governing body of the city or town during which the ordinance on the assessment will be considered.
“The reassessment of Improvement District No (giving the style and number of the district) has been filed in my office, and the same is now open for inspection.
“All persons wishing to be heard on the reassessment shall be heard by the commissioners of the district in the office of the city clerk or town clerk at on the day of, 2
Clerk of the City (or Town) of