§ 204. Transition to benefit basis levy of assessments in existing
lighting districts. 1. If and when the town board shall determine it to
be in the public interest for an existing lighting district levying
assessments by the ad valorem basis on the effective date of this
section to convert to the levying of assessments by the benefit basis,
the board may adopt a resolution approving the transition to the benefit
basis of levying assessments, which resolution shall be subject to a
permissive referendum in the manner provided in article seven of this
chapter, except as hereinafter provided. The proposition submitted must
be approved by the affirmative vote of a majority of the owners of
taxable real property situate in the existing district as shown upon the
latest completed assessment-roll of the town, voting on such
proposition. A petition requesting a referendum shall be sufficient if
signed and acknowledged by the owners of taxable real property situate
in the existing district, as shown upon the latest completed
assessment-roll of said town, in number equal to at least five percent
of the total number of such owners, or by one hundred of such owners,
whichever is the lesser. For the purposes of this section, a corporate
owner of such taxable real property shall be considered one owner for
the purposes of a petition requesting a referendum and shall be entitled
to one vote to be cast by an officer or agent of the corporation or
other duly authorized person designated by appropriate resolution of
such corporation. The town clerk shall cause to be prepared and have
available for distribution proper forms for the petition and shall
distribute a supply to any person requesting same.

2. (a) If after the expiration of the time for filing a petition
requesting that the matter be submitted to a referendum of the property
owners of the existing district, no such petition has been filed with
the town clerk, he shall file a certificate stating such fact in the
office of the county clerk.

(b) If such petition was filed and after the referendum held pursuant
to this section, the town clerk shall prepare and file a certificate
stating that a petition was filed and a referendum was held pursuant to
the provisions of this section and certifying the result of the vote on
the proposition submitted at such referendum in the office of the county
clerk.

3. If the certificate of the town clerk required to be filed pursuant
to subdivision two of this section establishes that no petition was
filed requesting a referendum or that such petition was filed and the
result of the vote on the proposition submitted at the referendum held
pursuant thereto was in the affirmative, the town board shall adopt a
final order establishing the transition to the benefit basis.

4. The authority conferred by this section to make such transition
shall not be construed to authorize a transition from the benefit basis
to the ad valorem basis of levying assessments.