(a) Lapse by operation of law. An allocation lapses by operation of law if:
(1) any development application for which the County has granted an allocation becomes void, expires, or is revoked;
(2) there is a default on the requirement to pay fees and charges as described in § 13-5-403(i)(1); or
(3) the property is sold at tax sale.
(b) Amount due upon lapse; collection. If an allocation lapses by operation of law, all allocation reservation charges that have been paid are forfeited and the following fees and charges, along with any interest and penalties that have accumulated on the fees and charges, immediately becomes due and payable and shall be collected as provided in § 1-8-101 of this Code:
(1) any unpaid allocation reservation charges, including deferred allocation reservation charges and any interest on deferred allocation reservation charges;
(2) any accumulated interest and penalties on the capital facility connection charges calculated in accordance with § 13-5-403(f) and (h); and
(3) a lapsing fee in the amount of the sum of the applicable prime rate plus 5% multiplied by the capital facility connection charge in effect as of the date of the lapse, except that if an allocation lapses by operation of law under subsection (a)(2) because of unpaid allocation reservation charges and an allocation may be restored in accordance with subsection (d), a lapsing fee in the amount of the applicable prime rate plus an additional 5% of the unpaid allocation reservation charges that caused the lapse, if paid in accordance with subsection (d)(3).
(c) No lapse to extent fees and charges paid. No part of an allocation for which all fees and charges have been paid and which has been used for connection to the County's water or wastewater system shall lapse.
(d) Restoration of allocation. An allocation that lapses by operation of law under subsection (a)(2) because of a default on the requirement to pay fees and charges may be restored if:
(1) the water or wastewater capacity has not been reallocated; and
(2) a written request to restore an allocation is received by the Office of Finance no later than thirty days before the date that the property is to be sold at tax sale; and
(3) all fees and charges set forth in § 13-5-403 along with any interest and penalties that have accrued on the fees and charges and the fees and charges set forth in subsection (b) are paid no later than 4:30 p.m. on the day preceding the day the property is to be sold at tax sale, with all fees and charges calculated to and based on the rates in effect on the date of payment as if no lapse in allocation had occurred.
(Bill No. 5-05; Bill No. 5-11; Bill No. 18-12; Bill No. 3-13; Bill No. 111-15
; Bill No. 17-19)