For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACTUAL COST. All direct or indirect costs incurred by the city in order to deliver goods and services or to undertake a public improvement. The actual cost of providing goods or services to a property or a property owner includes the cost, or an allocated portion of the total amount of the actual cost, of making a good or service available to the property owner, whether stated at a minimum, fixed or variable amount. ACTUAL COST includes, but is not limited to, the cost of labor, materials, attorneys’ fees, supplies, equipment rental, property acquisition, permits, financing, engineering, administration, reasonable program delinquencies, return on investment, required fees, insurance, administration, accounting, depreciation, amortization, operation, maintenance, repair or replacement and debt service, including debt service payments or payments into reserve accounts for debt service and payments of amounts necessary to meet debt service coverage requirements.
ADVANCED FINANCING. A developer’s or the city’s payment for the installation of one or more public improvements installed pursuant to this subchapter which benefiting property owners may utilize upon reimbursing a proportional share of the cost of such improvement.
ADVANCED FINANCING AGREEMENT. An agreement between a developer and the city, as authorized by the City Council, and executed by the manager, which agreement provides for the installation of, and payment for, advance financed public improvements and may, in such agreement, require such guarantee or guarantees as the city deems best to protect the public and benefiting property owners, and may make such other provisions as the Council determines necessary and proper.
ADVANCED FINANCING RESOLUTION. A resolution passed by the Council and executed by the manager designating a public improvement to be an advance financed public improvement and containing provisions for financial reimbursement by benefiting property owners who eventually utilize the improvement and such other provisions as determined in the best interest of the public by the Council.
BENEFITING PROPERTY OWNER. The free holder of record of the legal title to real property which, by virtue of installation of an advance financed public improvement, may be served, all or in part, by the same. Where such real property is being purchased under a recorded land sales contract, then such purchasers shall also be deemed owners.
CAPITAL IMPROVEMENTS.
(1) The grading, graveling, paving or other surfacing of any street; or opening, laying out, widening, extending, altering, changing the grade of or constructing any street;
(2) The construction of sidewalks;
(3) The construction or upgrading of any storm drains;
(4) Water improvements;
(5) Sanitary sewer improvements; or
(6) Any other public improvement authorized by the Council.
CITY. The City of Drain, Oregon.
COUNCIL. The Drain City Council.
DEVELOPER. The city, an individual, a partnership, a joint venture, a corporation, a subdivider, a partition of land or any other entity, without limitation, who will bear, under the terms of this subchapter, the expenses of construction, purchase installation or other creation of a public improvement.
MANAGER. The City Recorder, City Manager or City Administrator of the City of Drain.
PROPORTIONAL SHARE. The amount of advanced financed reimbursement due from the benefiting property owners calculated in accordance with § 33.10.
RECORDER. The City Recorder, Clerk or other person or officer of the city serving as a clerk of the city or performing clerical work of the city, or other official or employee as the governing body of the city shall designate to act as RECORDER.
(Prior Code, § 33.03) (Ord. 364, passed 4-14-1997)