ORD 2020-007 2018-2020 - Laserfiche WebLink

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[(4)] "Cost" means the cost, either estimated or actual, as the case may be, of the improvements to be opened, constructed or improved in proceedings taken pursuant to this chapter for which assessments are to be levied. There may be included within the definition of"cost," amounts for construction contingencies, bond discounts, reserve funds, capitalized interest, and incidentals. [(5)] "Improvement district" means any contiguous or noncontiguous area within the County which has been designated by the council as an improvement district for the purposes of this chapter. [(54] "Incidentals" means expenses in carrying out proceedings pursuant to this chapter for: (A) Preparation of maps, notices, and other documents; (B) Posting, mailing and publication costs; (C) Preparation and printing of bonds, bond registers and transfer books; (D) Fees of financial, legal, engineering and surveying consultants; and (E) Such other administrative or miscellaneous expenses which relate directly to the proceedings. [(7)] "Owner" of an assessment unit means the person to whom the real property tax for such assessment is assessed, as shown on the real property tax assessment roll, regardless of whether such person is exempt from the payment of such tax. [(SA "Premium" means: (A) An amount payable by a property owner at the time the owner makes an advance payment of unpaid installments of the assessment in accordance with the provisions of section 12-35 (Advance payment of assessment installment) which amount is in addition to the unpaid principal amount the owner's assessment and the interest thereon to the next date for the payment of installments; (B) An amount payable to the holder of a bond issued pursuant to this chapter which is called by the director of finance for payment before maturity in accordance with the provisions of section 12-54 (Payment of bonds), and which is in addition to the face amount of such bond and the interest thereon payable to such bondholder; or 2