Section 21-43-7 - Resolution of intentionA parking and business improvement area may be established whenever the governing authority of any municipality shall by resolution establish such an area. The resolution shall contain the following information:
(a) description of the boundaries of the proposed area;(b) the time and place of a hearing to be held to consider establishment of an area;(c) the proposed uses to which the additional revenue shall be put; and(d) the initial rate of increase, or additional levy, of the license privilege tax, with a breakdown by class of business if such classification is to be used.Laws, 1974, ch. 520, § 4(1), eff. 7/1/1974.