Any person or persons, including any subdivider, who desires to have the water mains extended within the city, and is willing to advance the whole expense of such extension and receive the return of an agreed portion thereof, as hereinafter provided, may make application to the city council by petition. The petition shall contain a description of such proposed extension accompanied by a map showing the location of the proposed extension, together with an offer to advance the whole expense thereof, which cost shall be verified by the water superintendent. The city council may grant or deny the petition as in its discretion deems best for the welfare of existing water users in the city. (Prior Code § 14-143)