The costs of constructing sewer trunk and lateral lines shall be financed and paid for as follows:
   A.   From the Sewage Works Fund created by this chapter and as authorized by the Council; or
   B.   By the creation of a local improvement district as provided by Idaho Code title 50, chapter 17; or
   C.   By the property owners specially benefitted by the construction of the trunk and lateral sewer; or
   D.   By a combination of subsections A, B and C of this section as in the judgment of the City Council may be fair and equitable in consideration of the benefits accruing to the property owners within the area in which the sewer trunk and lateral lines will be constructed, as well as the financial condition of the City and the property owners in the area. (1952 Code § 8-11-05.07)