(A) District established. There is hereby established a city sanitary sewer district designated as the 2004 Corn Belt Industrial Park, Subdivision No. 3, Sanitary Sewer and Water Extension District, which district includes the following described property: Lots 1, 2, 7 and 8, Subdivision Number Three of Corn Belt Industrial Park and the West Milwaukee Street right-of-way adjacent to said Lots 1, 2, 7 and 8.
(B) Connection fee.
(1) A sanitary sewer connection fee equal to $15.679537 multiplied by the total street frontage, in feet, of the property to be served by a sanitary sewer connection plus a service connection charge of $481.41, all as specified in the connection fee schedule, is hereby established for connection to the sanitary sewer main in the district.
(2) A water extension connection fee equal to $23.490608 multiplied by the total street frontage, in feet, of the property to be served by the water distribution system plus a service connection charge of $813.85, all as specified in the connection fee schedule, is hereby established for connection to the water distribution system extension in the district.
(3) There is hereby approved and incorporated in this section by this reference the sewer and water distribution system connection fee schedules for the district as prepared by Kruse, Cate & Nelson, P.C., the city’s consulting engineers, dated November 20, 2004, attached to Ordinance 620 as Exhibit A, including a schedule of sanitary sewer connection fees and water distribution system connection fees as adopted by this section for each existing parcel of real estate in the district.
(4) The connection fees herein established are based upon the costs incurred by the city in the construction of the sanitary sewer main and water distribution system extension.
(5) Interest at the rate of 3% per annum from March 1, 2005, to the date of payment shall be added to the connection fees otherwise required to be paid under the provisions of this section.
(C) Disposition of fees. All connection fees collected pursuant to this section shall be paid to the city and shall be used only for the purposes of operating the sanitary sewer system, the water distribution system extension or to pay debt service on obligations issued to finance improvements or extensions to the sanitary sewer system and the water distribution system extension.
(Prior Code, § 4-4A-7) (Ord. 620, passed 3-7-2005; Ord. 698, passed 3-1-2010)