1. Cost Recovery. The City has determined the necessity of establishing a policy and procedure to be utilized to recover the cost of designing and constructing sanitary sewer facilities or water system facilities in those instances in which a significant number of the properties to be benefited by such facilities are not sufficiently developed to permit the recovery of those costs through the special assessment process as provided in Chapter 384, Division IV of the Code of Iowa. The City hereby declares its intent to utilize connection fees, as herein provided, to recover the costs of designing and constructing such sanitary sewer facilities or water system facilities from property owners who connect to such facilities subsequent to their construction.
2. Intent. It is the intent of this chapter to set forth the method of recovery of proportional cost shares from those property owners who connect their properties to sanitary sewer facilities or water system facilities subsequent to their construction, so that in the event that all property, other than the City right-of-way, that lies within the benefited district is connected to the sanitary sewer facilities or water system facilities during their expected useful life, then those properties shall bear, in the aggregate, up to 100 percent of the cost of designing and constructing such facilities, including legal and administrative expenses associated therewith, and interest thereon.