Skip to main content
Loading…
This section is included in your selections.

A. Where the tax excess affects a service area for road service or fire service and the tax excess is at least 10 percent of the annual budget of that service area, the service area commissioners may request of the Assembly that, after making a refund or credit adjustment, a loan from the General Fund be granted to the service area with a term of three to 10 years, at an interest rate of eight percent per year.

1. Such loan may be granted, contingent upon available funding, to ensure that the discovery of a tax excess does not in turn result in the financial bankruptcy of the service area, creating in turn life safety issues due to a diminished level or lack of service.

B. The Assembly may provide to any service area a grant from municipal assistance revenues to offset a deficit in the service area budget caused by an erroneous computation of the maximum allowable tax. (Amended by voter approval, 10/3/95; Ord. 90-033 § 2, 1990. 2004 Code § 3.08.147.)