[Ord. No. 241-2006 §§1 — 2, 2-21-2006]
A. 
The Petition ("petition") to establish the Big Spring Plaza Community Improvement District (the "district") as a separate political subdivision in accordance with Section 67.1401, RSMo., through Section 67.1571, RSMo., otherwise known as the Missouri Community Improvement District Act (the "Act") and which is on file in the City offices as Exhibit 1, is hereby approved in its entirety.
B. 
The district is hereby established for the purposes set forth in the petition, that the district shall have all the powers and authority authorized by the Act and by the petition, and that the district shall have a minimum life of twenty (20) years following the effective date of this Section, after which the district shall continue in perpetual existence unless and until terminated in accordance with the Act.