A. All connections, whether direct or indirect, to the Coyote Ranch trunk sewer, within the cross hatched area on the map entitled "Coyote Ranch Trunk Sewer Service Area," which is attached as "Exhibit A" to the ordinance codified in this section and the agreement between the city and Gardner Development Corporation (identified in city records as C.G. Contract No. 898-1) and on file in the office of the city clerk will be subject to the Coyote Ranch trunk sewer fee.
B. The Coyote Ranch trunk sewer charge shall be paid at the time the first building permit is issued. No sewer connection shall be permitted until payment has been received by the city.
C. The fund collected will be remitted to Gardner Development Corporation by the city.
D. The fee will be based upon the following schedule:
1. Gardner Development Corporation has constructed a sewer line to provide sewerage service to Gardner's project known as Coyote Ranch. The line will also provide sewerage service to areas outside of the Coyote Ranch project. This plan provides for reimbursement to Gardner Development Corporation for the costs incurred in building the trunk sewer line.
2. A total of one hundred sixty-two thousand five hundred dollars ($162,500) was expended to construct the Coyote Ranch trunk sewer line. The cost includes construction costs, engineering costs, inspection costs and incidental costs.
3. The service area for the Coyote Ranch sewer line as shown in the cross-hatched area on the map of Coyote Ranch sewer trunk service area referenced in subsection (A)(2), above. The area comprises three hundred (300) gross acres. Any development within the service area that does not receive sewerage service from the Coyote Ranch sewer line shall not be charged this fee and likewise any development outside the service area that receives sewerage service from the Coyote Ranch sewer line, as described in the agreement, will be charged this fee.
4. The base reimbursement rate shall be as follows:
Total cost: $162,500
Gross acreage: 300
Base reimbursement rate: $162,500/300 = $541.66 per acre
5. Reimbursement due to Gardner Development Corporation, through the city, shall be adjusted to reflect the current prevailing market rate of construction. The index rate of adjustment shall increase according to the Engineering News Record index using May 15, 1998 as the base rate. The Index Value for that date was 5881.41 and will be used to calculate the actual area charge at the time a construction permit is to be issued. The calculation of the index adjusted area charge is as follows:
Area Charge = $541.66 x Eng. Cost Index*
5881.41**
5881.41**
* at time of issuance of construction permit
** Eng. Cost Index May 15, 1998
(Ord. 1397.13.12, § 2, 1998)