The Utility Board of Trustees and the Town of Schererville shall allow installment payment of pro rata charges, but not security deposit, meter fees or tap in fees, for those persons able to demonstrate an inability to pay such charges and an inability to obtain financing in the private sector. The terms of such installments shall be as follows:
a. An applicant must file with the Clerk-Treasurer an application for installment payments which shall include a sworn statement that the applicant lacks available funds to pay the pro rata charges and shall be accompanied by bona fide letters denying application for financing of the pro rata charges, using the real property as security from at least two (2) commercial lending institutions.
b. The application shall be reviewed by the Clerk-Treasurer for sufficiency and, upon approval, the applicant, by all persons in title to the subject property, shall execute a promissory note and recordable security agreement for the repayment of the utility lien and promissory note, using the benefitted real property as security for repayment.
c. The promissory note shall be for no longer than sixty (60) months and at an interest rate established by the Utility.
d. At the time of application the owner shall deposit with the Clerk-Treasurer funds sufficient to pay all tap in charges, security deposits and costs to pay a private contractor to connect the unit to the sewer line.
(Ord. No. 1195, § 5, 12-11-91)
Notes
| 10 | Editor's Note: The Town requested that "eighteen percent (18%)" be deleted and that broader language be included during the codification process. |