§ 28-79. Assessments.

(a)

The district may provide for the construction or reconstruction of assessable improvements, for the levying of special assessments upon benefited property for the payment of all or any part of the cost thereof and for the issuance of bonds payable from such assessments or payable in part from such assessments, and the district may proceed under the provisions of chapter 170, Florida Statutes, as if the district were a municipality and the proposed project were one described in section 170.01 of such chapter, except as hereinafter provided otherwise:

(b)

Special assessments against properties deemed to be benefited by a project shall be assessed upon such properties in proportion to the benefits, determined and prorated on a flat rate basis (providing an equal assessment upon each lot or parcel assessed), or on an area basis, or according to the front footage of the respective properties assessed or on such other basis as the board may prescribe as being most equitable and fair under the circumstances.

(c)

The board may declare that any assessments may be made payable in not more than forty (40) equal yearly installments, with interest on the unpaid balance thereof at a rate per annum determined by the board, to which, if not paid when due, there shall be added the penalty prescribed by such chapter.

(d)

Bonds payable from such assessments and any other bonds issued hereunder shall bear interest at such rate or rates per annum as shall be determined by the board, payable annually or semiannually, shall mature at such time or times not exceeding forty (40) years from the date of their issuance and shall be sold in such manner and at such price as the board may determine to be in the best interests of the district, but no such sale may be made at a price of less than ninety (90) percent of the par value of the bonds.

(Ord. No. 80-4, § 4, 4-22-80)