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Rhode Island General Laws Title 45. Towns and Cities § 45-59.1-15. Reports

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The owners' association shall cause to be prepared a report for each fiscal year, except the first year, for which assessments are to be levied and collected to pay the costs of the activities described in the report. The owners' association's first report shall be due ninety (90) days after the first year of operation of the tourism improvement district.

(b) The report shall be filed with the municipality and shall refer to the tourism improvement district by name, specify the fiscal year to which the report applies, and, with respect to that fiscal year, shall contain all of the following information:

(1) The activities and improvements to be provided for that fiscal year.

(2) An estimate of the cost of providing the activities and improvements for that fiscal year.

(3) The method and basis of levying the assessments in sufficient detail to allow each business owner to estimate the amount of the assessment to be levied against his or her business for that fiscal year.

(4) The estimated amount of any surplus or deficit revenues to be carried over from a previous fiscal year.

(c) The municipality may approve the report as filed by the owners' association or may make recommendations for approval to the annual report within forty-five (45) days of receiving the annual report. The annual report shall be final and approved within ninety (90) days following its submission by the owners' association to the municipality.

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Cite this article: FindLaw.com - Rhode Island General Laws Title 45. Towns and Cities § 45-59.1-15. Reports - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-45-towns-and-cities/ri-gen-laws-sect-45-59-1-15/

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