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§ 3-63-7 NMSA 1978

Ordinance creating the district

Known as the Business Improvement District Act

The act spans §§ 3-63-1 to 3-63-9 (16 sections).

Laws 1988, ch. 32, § 7; 1999, ch. 204, § 4.

The ordinance to create a district shall include:

A. a list of improvements to be provided by the district;

B. the amount of benefit estimated to be conferred on each tract or parcel of real property;

C. a description of the real property or businesses to be assessed a business improvement benefit fee;

D. the assessment method to be used to finance the improvements of the district;

E. the amount of the assessment to be imposed on each real property owner; and

F. the terms of members, method of appointment and duties of the management committee for the district.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.