MS HB1682

Authorizes the City of Jackson to establish special local improvement assessment districts and levy up to 6 mills on taxable real property within such districts upon adoption of a resolution and receipt of a petition signed by owners of at least 60% of property in the proposed district.

Requires the city to hold a public hearing with at least two weeks' notice before adopting a resolution to establish a district; alternatively, districts may be created through a referendum ballot process if boundaries align with homeowners' association boundaries and 60% of property owners vote in favor.

Permits special assessments to fund local improvements including parks, sidewalks, streets, lighting, security enhancements, private patrol services, and property acquisition and rehabilitation within the district.

Authorizes the city to issue bonds payable solely from special assessment proceeds without an election, exempt from statutory debt limitations; bonds must be paid from assessments and any contributions received, with the city's full faith and credit not pledged.

Allows districts established under the homeowners' association process to be dissolved by referendum once all indebtedness is satisfied; requires the homeowners' association to maintain separate accounting, undergo annual independent audits, and file audit reports with the city clerk.