Any proposed extension of the Town of Hammonton water system main lines may require the contribution of funds on the part of the applicant. In determining the amount of such contribution, the Superintendent shall take into consideration the fair share of the cost of the general improvement to be made by the applicant, together with the total cost of the improvement and any such share that may be assessable to property owners and any share which is to be paid by the Town of Hammonton. The undertaking of cost sharing for the installation of any improvements or extensions to the water system main lines by the Water Superintendent of the Town of Hammonton is subject to the availability of municipal funds. All contributions required of applicants must be deposited with the Water Superintendent prior to the advertising of bids for construction of the improvement.