(a) Not later than 30 days after the date of receipt by the county government of the final contract costs from the county engineer, but in no event later than 8 months after the sale of the bond issue, the county government shall make a special assessment or levy upon all real property of every freeholder in the suburban community which is assessable and taxable. Such assessment shall be made in such a manner that the real property of each freeholder of the community, upon the basis of all front footage within the area to be protected by the improvements, shall equitably bear its pro rata share of the costs of the improvement or improvements. In cases of irregular corner properties, the county engineer shall determine the footage in the area to be protected that shall be considered as front footage. The sum total of all assessments or levies, so made, shall equal the total amount of the final contract cost, together with all interest accruing on the full amount of the bond issue until maturity.
(b) If final contract costs are not determined within the aforementioned 8 month period, the county government shall make a temporary special assessment or levy upon the basis of the contract bid, together with all interest accruing on the full amount of the bond issue until maturity. The temporary special assessment shall be adjusted when final contract costs are known.
(c) If moneys from the general fund of the county government are used as permitted by § 562(c) of this title, the special assessment shall be determined on the basis of final contract costs plus interest. The interest rate in such case shall be the average rate of all interest on bonds issued for similar purposes during the previous calendar year. All interest collected from such special assessments shall be deposited in the special sinking fund account provided for in § 578 of this title.
(d) In making such special assessment or levy the county government shall prepare an assessment roll which shall describe each lot or parcel of real property in the suburban community in such manner that the same may be ascertained and identified and shall show the name or names of the reputed owner or owners thereof and the aggregate amount of the assessment levied upon such lot or parcel of land, and shall file such assessment roll so prepared in the office of the clerk of the county government. Before finally adopting such assessment roll, the county government shall hold a public hearing. Notice of such public hearing shall state that the assessment roll has been completed and filed in the office of the clerk of the county government where it may be examined by any person interested and, that at the time and place fixed for the public hearing, the county government will meet and hear and consider any objections which may be made to such assessment roll. Notice of the public hearing shall be published in a newspaper published within the county and having a general circulation therein, once in each of the 2 weeks immediately preceding the week in which the public hearing is to be held. After holding the public hearing the county government may change or amend the assessment roll as it deems necessary or just and may confirm and adopt the assessment roll as originally proposed or as amended or changed.