The Assembly reserves the right to grant or not to grant a tax exemption or deferral under circumstances beyond the scope of this chapter and Chapter 8.12 FNSBC or to waive any other requirement not mandated by state law. However, no such action or waiver shall be taken or made except upon a finding by the Assembly that an extraordinary circumstance or emergency exists, and that such action or waiver is found and declared to be in the vital public interest. (Ord. 2005-23 § 2, 2005. 2004 Code § 3.10.070.)