The subdivider can finance his share of the public improvements defined above by either of the following 2 methods:
(A) By requesting the City to finance these improvements under Wisconsin Statutes § 66.0703 pertaining to special assessments. This statute shall be subject to the following restrictions:
(1) The assessments shall be applied on an equal basis to all developable lots.
(2) Lots that are not intended for improvement or development shall not be assessed improvement costs.
(3) Should the developer request the City to proceed under Wisconsin Statutes § 66.0703, the interest rate charged the developer shall be one-half of one percent (0.5%) above the rate the City pays for funds pertaining to said project.
(B) The developer may proceed to finance this project through his own private finances. In this case the City will reimburse the developer for its share of the actual costs of construction of the improvements as they are made upon presentation of a bill to the City.
(Ord. 559, passed 6-8-88)