§ 106-112. Funding.

(a)

Option One - County Financing.

(1)

Each property owner within the sidewalk district shall be assessed a share of the cost to be funded by the district, which cost shall be added to the ad valorem property taxes for each owner as provided in this section.

(2)

Each property owner's share of the cost shall be determined as follows: The total cost of the project shall be calculated by the county, and the figure so derived shall be known as the total project cost. The county shall next determine the total number of lots within the district and divide the number of lots into the total project cost to arrive at the cost per lot.

(3)

The sidewalk tax assessment shall be paid by one of two options, as follows:

a.

Payment method one. The assessment may be paid in cash by the property owner within 90 days of the mailing of the assessment by the county. If paid under this method, the assessment will not bear an administrative fee and no lien shall be recorded against the property. Payment shall be paid directly to the department of transportation and made payable to Cobb County, Georgia. If payment is not paid in full within 90 days of the county's initial billing of the assessment, then payment method two shall automatically take effect. Once method two is in effect, the payment method shall remain in effect until all assessment payments are satisfied.

b.

Payment method two. The assessment shall be paid in five equal annual installments. Payment of each such assessment shall be due and payable within 60 days from the mailing by regular mail of a bill from the tax commissioner. In the event method two is selected or becomes the method by default, the cost of processing, administration, recording the lien, and satisfaction of such lien shall be added to the assessment.

(4)

The property owner agrees to and shall advise any purchaser of any property within the sidewalk district of the assessment. The property owner may conduct a proration of the assessment with the purchaser. The county shall not be responsible for the proration of the assessments between sellers and purchasers nor shall the county be under any duty to notify any purchaser of the existence or liability for the assessment, it being understood that the seller shall be responsible for the assessment.

(5)

If the assessment is not paid when due, the assessment shall be collected in the same manner as delinquent ad valorem taxes and shall be subject to the same interest and penalties.

(6)

The assessment shall constitute a lien against the property and shall be recorded by the tax commissioner in the lien records of the clerk of the county superior court.

(7)

The fee for processing and administration of this option shall be established by the tax commissioner and approved by the board of commissioners.

(b)

Option Two - Community Financing.

(1)

The total cost of the project shall be calculated by the county, and the figure so derived shall be known as the total project cost. The community requesting installation of sidewalks shall commit, as part of the petition, to raising the total project cost of the sidewalk project. The method in which said funds are raised will be determined by the community independent of county involvement.

(2)

Funds in an amount equaling the total project cost must be remitted to the county within six months of returning a valid (75 percent or more approval) sidewalk petition. Notwithstanding any other provisions in this division, the board of commissioners will take no action to approve the petition until such funds are received. If such funds are not timely submitted to the department of transportation, the petition will automatically become null and void and of no force or effect.

(Ord. of 5-23-89, § 6; Ord. of 6-25-91, § 6; Code 1977, § 3-23-84; Amd. of 2-24-09)