At any time after the approval of a petition and the creation of a district management authority, the boundaries of the management district and the purposes and powers of the district management authority may be amended by the filing of a petition for amendment. The petition will set forth the amendments sought; it will be signed either: (1) by not less than two-thirds (?) of the members of the district management authority board of directors or, (2) in the event that additional property is to be included within the district, by persons who own real property located within the additional property which is to be included within the revised boundary of the district and who constitute in the aggregate, sixty percent (60%) of the aggregate assessed valuation of all real property, not exempt from taxation by law, of such additional real property. The petition will be heard and acted upon by the city or town council in the same manner as petitions are required to be heard and acted upon pursuant to § 45-59-6 and § 45-59-7. Upon the approval of the petition for amendment by the city or town council, the boundaries of the management district and the purposes and powers of the district management authority will be as set forth in the petition for amendment.

History of Section.
P.L. 2001, ch. 205, § 1; P.L. 2001, ch. 373, § 1.