The village shall special assess the costs of sewer and water mains in accordance with the following charges and conditions and in accordance with all state regulations.
(a) Sanitary sewer main. The village shall special assess 100% of the actual cost of the sewer main plus engineering fees over a period of ten years, at an interest rate of 1% above what the village is charged for interest at the financial institution where the money for the project is borrowed. There will be no interest charge for the first installment. The developer/property owner shall utilize the services of the village’s engineering firm for all engineering needs of the project. Charges will be assessed by the running foot or equally among each platted lot receiving service.
(b) Water main. The village shall special assess 100% of the actual cost of the water main plus engineering fees over a ten-year period at an interest rate of 1% above what the village is charged for interest at the financial institution where the money for the project is borrowed. There will be no interest charge for the first installment. The village shall pay for all necessary fire hydrants. If a service larger than eight inches is required, the utility will pay the difference between an eight-inch main and the larger service. The developer/property owner shall utilize the services of the village’s engineering firm for all engineering needs of the project. Charges will be assessed by the running foot or equally among each platted lot receiving service.
(c) Extensions of existing sewer and water mains.
(1) The village shall extend existing sewer and water mains in accordance with the following charges, conditions, and in accordance with all state regulations.
(2) a. When an extension of sewer and water mains is required by the prospective user, said person shall make application in writing to the Village Board for consideration at the next regular Village Board meeting.
b. The village shall first determine the logical location of the next manhole or manholes. Next, the village shall determine the length and location of the extension, taking into consideration the prospective demands for service, the capacity of downstream facilities, and the orderly development of the particular area.
(3) a. No extension shall be made for a distance of less than 300 feet to the next manhole. The person who requests the extension shall pay the entire cost of said extension including the manhole or manholes that are part of the extension.
b. If more than one user is involved, the entire cost shall be divided by running foot or equally among each platted lot receiving service. Special assessment for new construction or extension of existing sewer and water mains/lines shall be tax rolled upon the real estate property tax bill of the property owner as of the year in which the construction or extension project is completed as of January 1 of that year.
(Prior Code, § 9-1-16) (Ord. passed - -)