(A) The repayment amount shall be based on the benefitted parcel's share of the benefit received as compared to the total cost of the public improvement as provided in the benefit study approved under 20-24. The repayment amount shall be paid to the town or community facilities district, if applicable, prior to the issuance of either a final plat approval, grading permit, a building permit, or the issuance of an encroachment permit to access town right-of-way for the purpose of connecting to the public improvement.
(B) It shall be unlawful for any person to extend service from a public improvement to their property for which a repayment amount has been imposed, without first paying the repayment amount and obtaining a permit issued by the town.
(C) The repayment obligation under this section shall terminate in ten years or when the total amount provided for by this chapter is repaid, whichever is sooner.
(D) The town or community facilities district, if applicable, shall collect repayment amounts for any public improvements financed by bonds, water utility funds, sewer utility funds, or development fee funds, which were specifically designated as subject to reimbursement from public improvement repayments. Any owner who has paid all or part of the debt service upon any bonds, the proceeds of which were used to finance public improvements shall have no claim to the repayment amounts repaid to the town or community facilities district, if applicable, under this chapter.
(E) Those portions of public improvements constructed under this chapter which are for general public benefit shall not be subject to repayment under the provisions of this chapter.
(Ord. 05-12, passed 7-12-2005)