9-55-10. Duties of governing body at hearing--Termination of hearing--Issuance of bonds for convention center from proceeds of general occupational tax.
If a hearing is held under subdivision 9-55-7(2), the governing body shall:
(1)Hear all protests and receive evidence for or against the proposed action;
(2)Rule upon all written protests received prior to the close of the hearing, which ruling shall be final; and
(3)Continue the hearing from time to time as the governing body deems necessary.
If a special assessment is to be used, the proceedings shall terminate if written protest is made prior to the close of the hearing by the owners of a majority of the assessable front footage in the proposed district. If an occupation tax is to be used, the proceedings shall terminate if protest is made by the users of a majority of the space in the proposed district. If the general occupational tax is based upon rented hotel and motel rooms pursuant to §9-55-7, the proceedings shall terminate if written protest is made prior to the close of the hearing by the owners of a majority of the hotels and motels in the proposed district.
Any bonds for the construction of a convention facility that are payable from the proceeds of the hotel and motel room general occupational tax may only be issued and sold if at least two-thirds of the hotel and motel owners in the proposed district approve in writing of the issuance and sale of the bonds.
Source: SL 1986, ch 81, §10; SL 1990, ch 68, §4; SL 2004, ch 79, §1; SL 2005, ch 54, §4.