After authorization for plan and specification preparation is granted by the City Council, the person owning or being interested in the development of such real estate shall deposit with the Finance Director for engineering services for the preparation of such plans and specifications, a sum of money based either upon an agreement for such service between such owner and such engineer or based upon the following schedule:
8% of the first $15,000.00 of construction cost, plus
51/2% of the next $15,000.00 of construction cost, plus
41/2% of the next $45,000.00 of construction cost, plus
31/2% of all construction cost in excess of $75,000.00.
(Ord. O-23-79, 11-20-1979; amd. Ord. O-24-2018, 11-19-2018)