(a) Oversizing charges, as determined by the Engineer, on water lines installed in the future in the Municipality or territories served by the Municipal water system, shall be assessed as follows:
(1) Residential properties which are to be assessed for the cost of the project shall have the oversizing charges paid for by the Municipality upon the receipt by the Municipality of an agreement signed by the property owner and deemed appropriate by the Law Director, which shall, in essence, require the property owner to repay the Municipality such oversizing charges and appropriate interest if and when the property in question is subdivided or split in the future.
(2) Commercial and retail property owners shall be treated in the same manner as residential property owners.
(3) Developers of property which has been subdivided in the Municipality shall assume the full cost of the mains which the Municipality deems appropriate through that area, including any oversizing charges which might be involved.
(b) This section shall represent the policy of the Municipality from this point onward and is based upon the basic consideration that the oversizing of lines throughout the Municipality is necessitated by the growth which is occurring in and around the Municipality due to developers subdividing existing land and developing it. Council feels that the resultant oversizing charges are most equitably borne by those developers in those situations and, where additional growth is not caused by existing residences and businesses, that the oversizing charges on those properties are best borne by the Municipality as a whole. (Res. 319. Passed 12-21-78.)