Upon written application by an individual, developer or corporation desiring extension of water or sewer mains to property located outside the corporate limits, the mains may be extended with the town participating in the cost of the extension, based on availability of funds; provided that, the property or site of development is annexed into the corporate limits under the procedure stated in the G.S. §§ 160A-29 through 160A-58.6. The annexation should occur during the construction of the extended mains, but shall occur before service is provided by the town. No service shall be provided to the property or the site of development until the property or site has been properly annexed. A written contract between the town and the person requesting the extension shall be prepared and the contract shall be approved by the Board of Alderpersons. The town’s participation shall be stated in the written contract, and the participation shall not exceed the total conservative estimate of revenues for a period of five fiscal years that the town may receive from the proposed development when completed and properly annexed, or exceed 50% of the actual cost of extending water and sewer mains to the site of the development. The difference between the town’s participation and the actual cost of construction of extending the water or sewer main shall be paid by the applicant requesting the extension. The extended line shall become the property of the town and be subject to its control.
(Prior Code, § 15-26) (Ord. passed 11-3-1986)