§ 33-280. Collection of allocated reimbursements costs; trust account; payment.

(a)

The allocated reimbursement extension cost shall be collected by the City at the time the owner or Developer of the property to which extension costs have been allocated applies to the City for a permit to connect to the extension. The allocated reimbursement extension costs must be paid prior to issuance of a connection permit or actual connection to the extension.

(b)

All funds collected pursuant to the extension reimbursement agreement, less the City's administrative fee as provided in this Article, shall be placed into a separate trust account for the collection and payment of allocated reimbursement extension costs.

(c)

Payment of collected reimbursement extension costs shall be made to the Developer on an annual basis each thirtieth day of June.

(Ord. No. 3003, § 1(Exh. A), 9-27-16)