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An improvement district may be initiated: a) by order of the council (subject to protest by the owners of property scheduled to bear a majority of the assessment burden under the method proposed for apportioning assessments as provided in section 9-6-7 of this chapter) or b) on a petition signed by the owners of more than fifty percent (50%) of the land area in the proposed district. In either event, the council, by resolution, shall direct the engineer or engineering firm employed or designated by the town to prepare and present to the council the following:

A. Preliminary plans and specifications of such improvements;

B. An estimate of the probable total cost of such improvements, which may include the cost of acquiring land required for the improvements, the cost of constructing or otherwise acquiring, installing, repairing, restoring and maintaining the improvements, engineering, legal and advertising costs, costs of organizing the improvement district, collection costs, interest during construction and until interest on any installment payments of assessments is expected to be received by the town, any costs deemed appropriate by the town council and any other incidental costs; and

C. A map of the improvement district which is to be assessed for the cost of the improvements. (Ord. 9, Series 1988)