(B) If an application is approved by the Board, the owner or owners shall be required to pay 100% of the total cost of all extensions. Provided, the town may participate to the extent agreed upon by the Board in the cost of larger size mains that are in excess of the size mains required to serve the project. The developer may be reimbursed as provided in § 51.42(B)(2). No reimbursements shall be made upon annexation, except as provided in § 51.42(B)(2), and all water and sewer lines connected to the town system and located outside the corporate limits shall become the property of the town at the time the facilities are connected.
(C) Prior to the beginning of any construction, the owner or owners shall deposit with the town funds in an amount equal to 100% of the total estimated cost of the extension. Upon receipt of the funds, a written contract shall be entered into by and between the town and the property owner or owners, in accordance with the requirements of this subchapter. The contract shall provide that, in the event the funds deposited exceed the amount of the total extension cost when completed, that portion in excess of the total cost will be refunded to the owner or owners without interest. The contract shall also provide that, if the amount deposited is less than the total cost, when completed, the owner or owners shall pay the additional amount to the town.
(D) In lieu of depositing funds, the owner or owners may execute a surety bond guaranteeing payment for the extension or the owner or owners may have the extension work performed under private contract with the approval of the Board; provided, the work is to be performed in accordance with all construction requirements of the town and subject to inspection and approval of the town. If the owner or owners elect to have the extension work performed by private contract, then the provisions of § 51.42(B) shall govern the extension. The policies set forth in § 51.17 of the Town Code shall also govern the extension.
(1983 Code, § 17-35) (Ord. passed 6-6-1984)