A. Preparation By Village Collector: Whenever the village board has entered into a recapture agreement with a developer, the village collector shall:
1. Within thirty (30) days, determine from the terms of the agreement the amount of funds to be collected from each parcel of land benefited, (hereinafter the "recapture fee"); and
2. Prepare an official "recapture fee list" of the said parcels setting forth the recapture fees for each parcel.
B. List Submitted To Developer: The recapture fee list shall be submitted to the developer and to the village board at its next regular meeting for approval; and after being approved by the village board, shall be recorded by the village clerk in the office of the recorder of deeds of Lake County along with a copy of the recapture agreement. (Ord. 85-05, 9-25-1985)