(a) When payment is made as provided in Section 935.04, the name of the petitioner shall be entered in the ledger of the Special Sewer Fund together with the lot numbers, the foot frontage, a schedule of possible rebates, the amount paid and the date on which it was paid.
(b) For the purpose of determining the cost of future connections, the City Engineer shall establish the final cost of the extension and shall establish the rate per foot frontage which shall not be less than one dollar ($1.00) per foot frontage. The rate thus established shall be apportioned on the basis of foot frontage to those properties lying on both sides of the street or thoroughfares between the point from which the extension commenced and the property of the petitioner lying the furthest distance away from the starting point, excluding therefrom those properties which have or may have sewer connections on other streets. The apportionment thus determined shall be set forth in the ledger of the Special Sewer Fund. (1964 Code §303.19)