Should water facilities installed pursuant to section 27-37 be installed in such a manner as to provide water service to a property not participating in the construction cost, the director may enter into an agreement for partial refund of the cost of the facilities so installed.
(1) In no case will the agreed refund amount exceed the total funds to be collected as authorized in section 27-37(4).
(2) Such refunds shall continue for a maximum period of fifteen (15) years from the date of the agreement. Any balances remaining unpaid shall be considered canceled, and the city shall be fully discharged from any further obligation under the agreement.
(Ord. No. 5235, § 4, 10-6-80; Ord. No. 6240, § 2, 5-20-85; Ord. No. 8121, § 3, 9-7-93; Ord. No. 9238, § 4, 6-14-99; Ord. No. 9842, § 1, 5-12-03)
Note: See editor's note following § 27-31.