If a project for which an application is submitted qualified for city participation under §§ 15-217, 15-218, and 15-219 of the City Code, all firms, persons and corporations owning an interest in the property for which the application is submitted shall, as a condition precedent, enter into a written agreement with the city that includes:
(A) In a form satisfactory to the city a guaranty of payment to the city of all sums that might be due to it from the property owner or owners under this Water and Sewer Extension Policy and in particular under § 15-219(E); and
(B) Provisions for requiring the property owner or owners to pay all damages, costs and expenses, including court costs and reasonable attorneys fees, incurred by the city in enforcing the city’s rights under this policy in the event the owner or owners default in payment of any sum of money due the city hereunder or in the event the owner or owners fail to perform or do any matter of things required of the owner or owners to be performed hereunder; and
(C) A developer or property owner who is a party to a reimbursement agreement with the city authorized under this section shall solicit bids in accordance with G.S. § 143-8 when awarding contracts for work that would have required competitive bidding if the contract had been awarded by the city.
(Ord. passed 8-22-94; Am. Ord. passed 3-18-08)