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After the public hearing, held pursuant to §§ 51.07 and 51.08, if the Council desires to proceed with an advance financed public improvement, it shall pass an advanced financing resolution accordingly. The resolution shall designate the improvement as an advance financed public improvement and provide for advance financed reimbursement by benefitting property owners pursuant to this chapter. When the developer is a private developer, the Council will enter into an agreement between the developer and the city pertaining to the advance financed public improvement and may, in the agreement, require the guarantee or guarantees as the city deems best to protect the public and benefitting property owners, and may make the other provisions as the Council determines necessary and proper.
(Ord. 334-99, passed 12-14-1998)