PART V MUNICIPAL REORGANIZATION
208.
208 (1) The municipality shall annually raise the amount required for the purposes of a board of management, including any interest payable by the municipality on money borrowed by it for the purposes of the board of management.  2001, c. 25, s. 208 (1). Special charge (2) The municipality may establish a special charge for the amount referred to in subsection (1), (a)  by levy upon rateable property in the improvement area that is in a prescribed business property class; or (b)  by levy upon rateable property in the improvement area that is in a prescribed business property class and that, in council’s opinion, derives special benefit from the improvement area, which levy may be calculated using different percentages of the assessment for one or more separately assessed properties or categories of separately assessed properties in the prescribed class if the resulting levy is equitable in accordance with the benefits that, in council’s opinion, accrue to the properties from the activities related to the improvement area.  2001, c. 25, s. 208 (2). Minimum and maximum charges (3) The municipality may establish a minimum or maximum charge or both, expressed for one or more separately assessed properties or categories of separately assessed properties in a prescribed class, as, (a)  percentages of the assessed value of rateable property in the improvement area that is in a prescribed business property class; (b)  dollar amounts; or (c)  percentages of the board of management’s annual budget.  2001, c. 25, s. 208 (3). Effect of by-law (4) When a by-law under subsection (3) is in force, (a)  the amount of a charge levied in a year under subsection (2) shall not, when calculated for the individual property in the prescribed class to which it applies, be less than or greater than the amount of the applicable minimum and maximum charge for the property established under the by-law; and (b)  if necessary for a fiscal year to raise the amount referred to in subsection (1) because a minimum or maximum charge applies to one or more separately assessed properties or categories of separately assessed properties in the prescribed class, the municipality shall for the year adjust any charges applicable to the remaining individual properties or subclasses of properties in the prescribed class by adjusting the percentage or percentages of assessment established under subsection (2) for those properties.  2001, c. 25, s. 208 (4). Exclusion (5) Section 210 does not apply to an adjustment made under clause (4) (b).  2001, c. 25, s. 208 (5). Borrowings (6) If only a part of money borrowed by the municipality in any year for the purposes of a board of management is required to be repaid in that year or a subsequent year, only that part and any interest payable on the total amount shall be included in the levies under this section in that year or subsequent year, respectively.  2001, c. 25, s. 208 (6). Priority lien status (7) Charges levied under this section shall have priority lien status and shall be added to the tax roll.  2002, c. 17, Sched. A, s. 42. Section Amendments with date in force (d/m/y) 2002, c. 17, Sched. A, s. 42 - 01/01/2003