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establishment until a referendum vote is taken of all qualified voters and property <br /> owners within the proposed LID. <br /> a) The council shall conduct a special election in July or August after <br /> receiving the referendum petition. The election must be held within the <br /> proposed LID. <br /> b) The question must be stated substantially as follows: <br /> "Should a lake improvement district be established to provide <br /> (description of intended water and related land resources <br /> improvements) and financed by (description of revenue sources)?" <br /> C) If the majority votes in favor, the stay on establishing the LID is lifted. <br /> If a majority does not favor establishing the district, the establishment <br /> is denied. <br /> Alternative methods to establishing a LID <br /> 1) The County may initiate the establishment of a LID. <br /> 2) If the city council disapproves a petition for creation of a LID, the petition may be <br /> forwarded to the commissioner of natural resources for consideration. <br /> 3) Where the natural hydrologic boundaries of a proposed district extend into more <br /> than one county, the county boards of the counties affected may form a joint <br /> county authority and establish and maintain a LID. <br /> 4) With respect to any body of water situated wholly within the contiguous <br /> boundaries of two or more municipalities, the governing bodies of those <br /> municipalities may enter into a joint powers agreement to establish and administer <br /> lake improvement districts. <br /> Financing a LID <br /> 1) The city council may undertake projects of improvement consistent with the <br /> purposes of the LID. To finance projects the city council, after seeking other <br /> sources of funding, may: <br /> a) assess costs to the benefited property; <br /> b) impose service charges on users of LID services within the district; <br /> C) issue general obligation bonds; <br /> d) levy an ad valorem tax solely on property within the LID; and <br /> e) may impose a combination of any of the above. <br /> 2) The LID may receive financial assistance from federal and state agencies to <br /> participate in projects for the study of pollution problems and related programs. <br /> 3) The district, with approval of the city council expressed in a resolution identifying <br /> each specific improvement to which the approval applies, may exercise the <br /> powers of a city including, but not limited to: <br /> (1) the levy of special assessments; <br /> 133358v1 <br />