129F.— (1) If, based on submissions made under section 129E, the rating authority concerned is of the view that the BID proposal may be inconsistent with the interests of the local community, the rating authority shall, as soon as practicable after the closing date under section 129E(2)(e) and no later than 60 days after that closing date, notify the BID proponent in writing explaining the nature of the inconsistency.

(2) Following consideration by the BID proponent of submissions made under section 129E and any notice under subsection (1) of this section, the proponent may, but not sooner than 60 days after the closing date referred to in subsection (1), deliver to the rating authority concerned—

(a) written confirmation of the initial request to have the BID proposal proceed to a ratepayer plebiscite, or

(b) written notice to withdraw the BID proposal.

(3) If the rating authority concerned does not receive written confirmation or notice under subsection (2) within 90 days after the closing date under section 129E(2)(e), the BID proponent is deemed to have withdrawn the BID proposal.

(4) A BID proponent who delivers notice to withdraw the BID proposal, or is deemed to have withdrawn the proposal, is liable to pay all costs incurred by the rating authority in relation to that proposal.

(5) The costs for which the BID proponent is liable under subsection (4) are recoverable as a simple contract debt in any court of competent jurisdiction and, if there is more than one such proponent, those proponents are jointly and severally liable for those costs.]