Within thirty days after the end of each calendar year, during the period of ten years following the completion date of the extension, the City shall refund to the applicant a sum of money equal to the average cost of constructing fifty feet of the extension for each tap made to the extension during the calendar year, or four hundred dollars ($400.00) for each tap, whichever is less. The total amount refunded shall not exceed the cost of the project or a sum equal to the length of the extension divided by fifty and multiplied by four hundred dollars ($400.00), whichever amount is less. No refund shall be made after ten years from the date the extension is completed. No tap will be considered for the purpose of calculating the refund until the tap has been paid in full.
(1965 Code §22-16)