10-2-8-5: DEFERRAL OF EQUIVALENT ASSESSMENT FEES:

Additional connection (equivalent assessment) fees imposed pursuant to subsection 10-2-6-3C of this chapter may be deferred as follows:

Payment of connection fees, by an owner of an existing structure, may be deferred as follows:

   A.   Agreement: The Public Works Department shall prepare an agreement for the deferral of the payment of fees;

   B.   Term: The term of the agreement shall not exceed fifteen (15) years;

   C.   Payments: Payments shall be made in equal installments on either a monthly or quarterly basis, at the option of the applicant and as prescribed by the agreement;

   D.   Interest: Interest on the unpaid balance will be assessed at the Wall Street Journal's prime rate as published on the date the agreement is signed;

   E.   Recording: The agreement shall be recorded in the Office of the Ada County Recorder. (Ord. 23-17, 7-18-2017)