§ 50.27  PRIVATE FINANCING.
   In certain other instances, the city, by majority vote of the City Council, may consent to a third party extending the utility services; provided, all applicable local and state laws and regulations are complied with, at the third party’s initial expense. Other benefitted property owners may, at any time, elect to make service connections to the extended utility service; provided, however, that, before such connection is made, the property owner (or owners) pays to the city, in full, the amount of the assessed charge as to the particular parcel or parcels of land benefitted, the amount of which the assessed charge is calculated on the basis of the formula set forth in § 50.26 of this chapter; except that, there shall be no interest charge as set forth in § 50.26 of this chapter. All moneys received by the city from benefitted property owners as a condition of their making service connections to the utility services shall be paid over to the third party or parties, his or their heirs and assigns, who initially bore the cost and expense of the project, by way of reimbursement.
(Prior Code, § 2.163)  (Ord. 513, passed 4-17-1989)