(1) The board, in the name of the authority, for the purpose of defraying all the cost of acquiring or constructing, or both, any project or facility authorized by this article, or any portion of the cost thereof not to be defrayed with moneys available therefor from its own funds, any special funds, or otherwise, also has the power under this article:
To levy assessments against all or portions of the property within the authority and toprovide for collection of the assessments pursuant to part 6 of article 20 of title 30, C.R.S.;
To pledge the proceeds of any assessments levied under this article to the payment ofassessment bonds and to create liens on such proceeds to secure such payments;
To issue assessment bonds payable from the assessments, which assessment bondsshall constitute special obligations of the authority and shall not be a debt of the authority; and
To make all contracts, to execute all instruments, and to do all things necessary orconvenient in the exercise of the powers granted in this article or in the performance of the authority's duties or in order to secure the payment of its assessment bonds.
(2) The authority shall give notice, by publication once in a newspaper of general circulation in the authority, to the owners of the property to be assessed, which shall include:
The kind of improvements proposed;
The number of installments and the time in which the cost of the project will bepayable;
A description of the properties which will be assessed;
The probable cost per acre or other unit basis which, in the judgment of the authority,reflects the benefits which accrue to the properties to be assessed; except that no benefit shall accrue to agricultural lands;
The time, not less than thirty days after the publication, when a resolution authorizingthe improvements will be considered;
A map of the properties to be assessed, together with an estimate and schedule showing the approximate amounts to be assessed, and a statement that all resolutions and proceedings are on file and may be seen and examined by any interested person at the office of the authority or other designated place at any time within said period of thirty days; and
A statement that all complaints and objections by the owners of property to be assessed in writing concerning the proposed improvements will be heard and determined by the authority before final action thereon.
The finding, by resolution, of the board that said improvements were ordered afternotice given and after hearing held and that such proposal was properly initiated by the said authority shall be conclusive of the facts so stated in every court or other tribunal.
Any resolution or order regarding the assessments or improvements may be modified, confirmed, or rescinded at any time prior to the passage of the resolution authorizing the improvements.
Source: L. 88: Entire article added, p. 1039, § 1, effective April 28.