(A)   The Mayor, subject to approval of the Village Board, may enter into pre-annexation agreements with the owner or owners of real estate which is expected or anticipated to be annexed into the village.
   (B)   The pre-annexation agreements may include the following terms:
      (1)   Waivers or modifications of water and sewer tap-on fees and requirements as established by the village code or ordinance at the time the agreements are executed; provided that the agreements may not waive or modify any water or sewer user rates/fees in effect from time to time;
      (2)   Waivers or modifications of any other fees, taxes, restrictions, licenses, requirements or other matters which are established solely by village codes or ordinances and/or solely under the control of the village authorities and which are in effect at the time of execution of the agreements and/or in the future;
      (3)   Be made contingent upon certain zoning changes and other zoning requirements or conditions;
      (4)   Special provisions regarding parking areas or lots, curbs, gutters, sidewalks or traffic control; and
      (5)   Special provisions regarding other village-supplied services, except that user fees or rates may not be reduced from those imposed upon other property owners of the same classification within the village.
(1994 Code, § 4-1-1)