| (3) | It is considered a corporate purpose to appropriate money for any purpose that, in the judgment of the municipal legislative body, provides for the safety, health, prosperity, moral well-being, peace, order, comfort, or convenience of the inhabitants of the municipality subject to this Subsection (3).
| (a) | The net value received for any money appropriated shall be measured on a project-by-project basis over the life of the project. |
| (b) |
| (i) | A municipal legislative body shall establish the criteria for a determination under this Subsection (3). |
| (ii) | A municipal legislative body's determination of value received is presumed valid unless a person can show that the determination was arbitrary, capricious, or illegal. |
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| (c) | The municipality may consider intangible benefits received by the municipality in determining net value received. |
| (d) |
| (i) | Before the municipal legislative body makes any decision to appropriate any funds for a corporate purpose under this section, the municipal legislative body shall hold a public hearing. |
| (ii) | For at least 14 days before the date of the hearing, the municipal legislative body shall publish a notice of the hearing described in Subsection (3)(d)(i) for the municipality, as a class A notice under Section 63G-30-102. |
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| (e) |
| (i) | Before a municipality provides notice as described in Subsection (3)(d)(ii), the municipality shall perform a study that analyzes and demonstrates the purpose for an appropriation described in this Subsection (3) in accordance with Subsection (3)(e)(iii). |
| (ii) | A municipality shall make the study described in Subsection (3)(e)(i) available at the municipality for review by interested parties at least 14 days immediately before the public hearing described in Subsection (3)(d)(i). |
| (iii) | A municipality shall consider the following factors when conducting the study described in Subsection (3)(e)(i):
| (A) | what identified benefit the municipality will receive in return for any money or resources appropriated; |
| (B) | the municipality's purpose for the appropriation, including an analysis of the way the appropriation will be used to enhance the safety, health, prosperity, moral well-being, peace, order, comfort, or convenience of the inhabitants of the municipality; and |
| (C) | whether the appropriation is necessary and appropriate to accomplish the reasonable goals and objectives of the municipality in the area of economic development, job creation, affordable housing, elimination of a development impediment, job preservation, the preservation of historic structures and property, and any other public purpose. |
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| (f) |
| (i) | An appeal may be taken from a final decision of the municipal legislative body, to make an appropriation. |
| (ii) | A person shall file an appeal as described in Subsection (3)(f)(i) with the district court within 30 days after the day on which the municipal legislative body makes a decision. |
| (iii) | Any appeal shall be based on the record of the proceedings before the legislative body. |
| (iv) | A decision of the municipal legislative body shall be presumed to be valid unless the appealing party shows that the decision was arbitrary, capricious, or illegal. |
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| (g) | The provisions of this Subsection (3) apply only to those appropriations made after May 6, 2002. |
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