Changing a district's term, facilities, or special taxes

(a) If the council determines that the public convenience and necessity require any change in the term of an established district or in the types of authorized public facilities which should be financed, that the rate or method of apportionment of a special tax should be changed, or that a new special tax should be proposed, the council may adopt an ordinance of consideration to alter the term of the district or the types of facilities to be financed, to levy and assess a new special tax or special taxes, or, except as provided in subsection (b), to alter the rate or method of apportionment of the special tax. Those proceedings may be commenced at any time. (b) The council shall not adopt an ordinance of consideration to reduce the term of any district or the rate of any special tax or terminate the levy of any special tax if the district or proceeds of that tax are being utilized to retire any debt incurred pursuant to this chapter unless the council determines that the reduction in the term of that district or the reduction or termination of that tax (as the case may be) would not interfere with the timely retirement or otherwise impair the security of that debt. SPECIAL IMPROVEMENT FINANCING BY COMMUNITY FACILITIES DISTRICTS § 32-36 (c) The ordinance of consideration adopted pursuant to subsection (a) shall contain all of the information required by paragraphs (a) to (e), inclusive, of section 32-39. (1994, ord 94-77, sec 3.)32-36