(A) Upon development of any property within the town limits for which a public improvements will be constructed, the developer or owner paying the cost of the public improvements may request the town Manager or his or her designee on behalf of the town to enter into a repayment agreement to collect a portion of the total costs of such public improvements from the developers and owners of parcels specially benefitted by or directly utilizing the public improvements located within or outside the town.
(B) Upon construction of public improvements, the cost of which were financed by bonds issued by the town or a community facilities district, as applicable, the town or community facilities district, as applicable, may impose upon and collect repayment amounts.
(C) The town or District Manager is authorized to enter into repayment agreements under this chapter. Such agreements shall be recorded in the office of the Yavapai County Recorder.
(E) Those portions of public improvements constructed under this chapter which are general public benefit shall not be subject to repayment under the provision of this chapter.
(Ord. 05-12, passed 7-12-2005)