(A) When an application is received requesting the extension of water or sanitary sewer service or both to new or proposed developments or subdivisions within the corporate limits which have not received prior approval from the Board of Commissioners, the Town Manager or his or her designated agent shall estimate the cost of the project and present the application for such extension, the estimated cost, and other necessary information to the Board of Commissioners for its approval. If the application is approved, and subject to the approval of the development or subdivision by the town and subject to the availability of funds, the town will install or have installed by contract under its supervision such extensions, which shall be financed in accordance with this section.
(B) Upon approval of any extension of water or sewer service as hereinabove provided, the Board of Commissioners may defray all or any part of the expense thereof by means of special assessments upon the properties abutting upon a project in accordance with the provisions of G.S. Ch. 160A, Art. 10.
(C) The Board of Commissioners may also contract with any interested property owner(s) and require 100% of the total estimated cost of any such project be deposited with the town prior to any construction. This method of financing any such project may be utilized in lieu of special assessments.
(D) In addition to the payments hereinabove provided, the Board of Commissioners shall require an engineering fee per lot in the proposed subdivision or development to be paid in advance as a condition of approval for such extension of service. Said fees shall be for planning, drafting, bidding, and inspecting the proposed extension of service. The per lot engineering fee shall be set from time to time by the Board of Commissioners and shall be on file in the office of the Town Manager.
(2003 Code, § 25-403.2)