Local collector sewers in developed areas where numerous property owners are involved shall be installed and paid for under one of the following payment plans:
(A) All benefited property owners shall pay into an escrow fund an amount equal to their proportionate share of the total estimated cost of the installation of water or sanitary sewers prior to the beginning of construction. The basis of prorating the costs shall be determined by mutual agreement between the district and the property owners on the front foot, land value or other such mutually acceptable basis. When the entire amount has been paid into the escrow fund, the district shall then cause the construction to be accomplished under its usual and customary procedures for public works construction. At the completion of construction when actual costs are known, the escrow account shall be adjusted either up or down, whichever may apply, with each property owner paying to or receiving from the fund his or her appropriate share to properly adjust said fund to the actual cost of the work.
(B) Installation by the district on an assessment basis under the applicable chapter of the Kentucky Revised Statutes.
(C) Any other plan acceptable to the District Board of Directors.
(Ord. 01-07.28.16, passed 7-28-2016)