A. Permitted: At any time the balance in the property owner’s account reaches one-fourth (1/4) of the original amount deposited, the Mayor or the City Council may demand from the property owner a sum of money that, in addition to the balance in the specified account, shall equal the amount originally deposited hereunder or such lesser fraction thereof that the City Council might, in such case, determine.
B. Stay Of Proceedings: All proceedings with regard to such annexation shall be stayed until said subsequent demands for additional deposits shall be paid by the property owner.
C. Notice: The Mayor or the City Council shall give notice of said demand for payment to said property owner and a duplicate copy of said notice shall be furnished to the Planning and Zoning Commission.
D. Termination Of Proceedings: Any demand or subsequent demand of the City Council, not deposited by the property owner within six (6) months of the date of said demand, shall, at the discretion of the City Council and upon written notice to the property owner, terminate the proposed annexation proceedings.
(1987 Code § 2-172)