(A) The total aggregate refund for new consumers or on account of new consumer construction shall not exceed the total amount advanced.
(B) No refunds shall be made after the termination of the twenty-fifth year from the date of acceptance by the Town Council of the application of the main extension.
(C) The water utility of the town reserves the right that the refund of the advancement herein above mentioned shall be paid only to the person, persons, firm, or corporation making the advancement and the claim for refund of the advancement shall not be assignable, but the advancement may be paid to the proper heirs or successors of the person, persons, firm, or corporation, upon proper presentation of the necessary proof of the heirship or successorship.
(D) It is further resolved that the refunding of money or monies advanced to the water utility of the town shall be made subject to any prior or subsequent bonded indebtedness that the water utility may incur.
(1992 Code, § 9-60)