A. Order of Council, subject, however, to protest by the owner or owners of a majority of all property benefited and constituting the basis of assessment as the Council may determine;

B. On a petition by more than fifty (50) percent of the landowners in the area of the proposed district.

In either event, a public hearing shall be held at which all interested parties may appear and be heard. Right to protest and notice of public hearing shall be given as provided by Town Council ordinance. Such improvements shall confer special benefits to the real or personal property within said district and general benefits to the Town at large. The Town Council shall have the power by ordinance without an election to proscribe the method of making such improvements, of assessing the cost thereof, and of issuing bonds for cost of constructing or installing such improvements, including the costs incidental thereto.

Where all outstanding bonds of a special or local improvement district have been paid and any moneys remain to the credit of the district, they shall be transferred to a special surplus and deficiency fund and whenever there is a deficiency in any special or local improvement district fund to meet the payments of outstanding bonds and interest due thereon, the deficiency shall be paid out of said surplus and deficiency fund. Whenever a special or local improvement district has paid and cancelled three-fourths (¾) of its bonds issued, and for any reason the remaining assessments are not paid in time to take up the remaining bonds of the district and the interest due thereon and there is not sufficient moneys in the special surplus and deficiency fund, then the Town shall pay said bonds when due and the interest due thereon, and reimburse itself by collecting the unpaid assessments due said district.

In consideration of general benefits conferred upon the Town at large from the construction and installation of improvements in improvement districts, the Council may levy annual taxes without an election on all taxable property within the Town at a rate to be determined by the Council for the purpose of advancing moneys to maintain current payments of interest and equal annual payments to the principal amount of bonds issued for any improvement district hereafter created. The proceeds of such taxes shall be placed in a special fund and shall be disbursed only for the purposes specified herein, provided that in lieu of such tax levies, the Council may annually transfer to such special fund any available moneys of the Town.