The following policy shall cover the extension of water mains, outside the City limits, to new industries:
(a) Industries desiring lines to be extended shall bear all the cost of extending such lines, with the provision that fifteen percent of the net annual water revenue received from any customers directly connected to this line shall be refunded to the industry paying for such extension for a period not to exceed twenty years.
(b) Such refund shall be paid annually and in no case shall more than the original cost be refunded.
(c) All work shall be done under the supervision of the City and according to the Water Department's plans and specifications.
(Res. 36-56. Passed 4-2-56.)