4.__Public elements.__"Public elements" of a capital improvement district means legal interests in defined properties located within a capital improvement district.__ "Public elements" may include public easements or fee simple titles in specifically defined property or properties.

§5212. Capital improvement districts authorized

A municipality may create one or more capital improvement districts within the municipal boundaries.

§5213.__Capital improvement districts; public hearing; notice;

referendum votes

In order to establish a capital improvement district, a municipality shall adhere to the following procedures.

1.__Initial determinations.__In order to establish a capital improvement district, the municipal officers shall establish all the public elements of the proposed capital improvement district for presentation to the residents of the municipality at a public hearing held pursuant to subsection 3. The municipal officers shall:

A.__Determine the proposed boundaries of the capital improvement district;

B.__Identify each separate parcel of property within the proposed capital improvement district and the parcel's owner of record;

C.__Describe all improvements to the proposed capital improvement district that need to be made;

D.__Calculate an estimate of the costs of the proposed improvements;

E.__Calculate the assessed shares and the contingency fee of no more than 25% of that assessment to the property owners in the proposed capital improvement district;

F.__Establish the proposed duration of the payment period for the assessed shares;