Chapter 13.28
BELTON ROAD ADVANCED FINANCIAL IMPROVEMENT DISTRICT
Sections:
13.28.020 Applicability of district.
13.28.030 Benefits to connected properties.
13.28.040 Reimbursement of property owners.
13.28.050 Charges for connectors.
13.28.060 Interest on contribution costs.
13.28.070 Expiration of connector charges.
13.28.010 District created.
The council hereby creates the Belton Road advanced financing district. (Ord. 2593 § 1, 1990)
13.28.020 Applicability of district.
The district involves any owners that connect to the Belton Road public sanitary sewer force main extension, as described in Exhibit A attached to the ordinance codified in this chapter. (Ord. 2593 § 2, 1990)
13.28.030 Benefits to connected properties.
The city finds that all properties that connect to the extension will benefit from the construction of the public sewer force main extension as described and shown in Exhibit A attached to the ordinance codified in this chapter. (Ord. 2593 § 3, 1990)
13.28.040 Reimbursement of property owners.
Some of the property owners will finance the construction costs of extending the public sewer main.
These property owners should receive reimbursement for their contribution costs. (Ord. 2593 § 4, 1990)
13.28.050 Charges for connectors.
The city will charge new connectors to the public sanitary sewer line extension for the advanced financial cost in the following manner:
(1) Original connectors shall be those who pay for the costs of construction of the main extension.
(2) New connectors shall pay an assessment charge of $2,300 when payment is made prior to September 1, 1991.
(3) If connection is desired after September 1, 1991, new connectors shall pay a cost of $3,300.
(4) These costs, as established in subsections (2) and (3) of this section, include the $800.00 standard system development charge.
(5) The city shall collect the connection charge from new connectors until original connectors have recovered their contribution costs.
(6) Based on estimated future connection, the city finds that fair share costs for original connectors is $1,500.
(7) Contribution costs will be the sum of moneys needed to subsidize the project in order to construct the force main. It is the intent of this chapter that the original connectors be reimbursed, if and when there are additional connections, for the subsidized amount. But in no event should original connectors receive payments that exceed original connector’s fair share costs of the project.
(8) Reimbursement to original connectors shall not include any system development charge (SDC) amount. (Ord. 2593 § 5, 1990)
13.28.060 Interest on contribution costs.
Interest shall accrue on contribution costs at 10 percent annual percentage rates. (Ord. 2593 § 6, 1990)
13.28.070 Expiration of connector charges.
The right to charge new connectors the contribution costs shall expire 10 years from the date of the passage of the ordinance codified in this chapter or at such time as when the contribution costs, including the interest as established in SHMC 13.28.060, are fully paid. (Ord. 2593 § 7, 1990)
13.28.080 STEP system cost.
Each owner shall pay the entire cost of the STEP system that serves their property. (Ord. 2593 § 8, 1990)