A. Deposit Required: Whenever a person, firm or corporation (hereinafter referred to as a "developer") petitions the city council requesting a feasibility study on construction of public utilities to serve property consisting of more than one lot or parcel, there shall be paid to the city by said developer:
1. An escrow deposit equal to one hundred fifty dollars ($150.00) for each lot or parcel in a proposed residential development; or
2. In those instances in which the city determines that unusual circumstances exist, such escrow deposit shall be in an amount equal to one and one-half (11/2) times the city engineer's estimate of the cost of preparing said engineering feasibility study. (1981 Code 1508 § 1)
B. Return Of Deposit:
1. If, as the result of such engineering feasibility study, construction of all or any part of such improvements commences within two (2) years from the date of the completion of such engineering feasibility study, such escrow deposit shall be returned to the developer, without interest, after a construction contract has been awarded for said improvements by the city.
2. If such improvements are not commenced by the city within two (2) years after the date of the completion of such engineering feasibility study, the developer shall have no further interest therein and may request final disposition as follows:
a. If the actual engineering costs are less than the escrow deposit, the remainder of the escrow, without interest, shall be returned to the developer.
b. If the actual engineering costs are greater than said escrow deposit, the developer shall be billed for the unpaid balance. (1981 Code 1508 § 2)