(A) (1) Petitioners and the town shall engage in negotiations to develop a formal annexation agreement that addresses timing and requirements of dedications outlined in this chapter and tied to the general development plan requirements.
(2) The town will begin this process using a model annexation agreement of its own design.
(B) (1) Although annexation petitions may be accepted by the town prior to conclusion of negotiations of an annexation agreement, no zoning of the property will occur until the annexation agreement is complete.
(2) Petitioners may include clauses regarding the de-annexation of property should the negotiations for an annexation agreement be terminated and/or the property not zoned to the satisfaction of the petitioners.
(Ord. 2-98, passed 4-22-1998)