(A) The repayment agreement shall designate the parcels and persons who are entitled to reimbursement amounts and shall include a diagram of the properties and respective amounts from which reimbursement amounts may be collected. In the event bonds of the city, including improvement district or assessment bonds, have been issued to finance the construction of the special public improvements and related facilities, the city shall receive all reimbursement amounts and apply such amounts to the debt service funds of the applicable bond issue.
(B) The repayment agreement shall set forth the total of the reimbursement amount to be paid to the city, which agrees to repay such reimbursement amounts to the owner. The total of such reimbursement amounts shall not exceed that portion of the agreed-upon construction costs of the special public improvements allotted to property outside the area of the owner. The repayment agreement shall terminate in ten (10) years or when the total amount provided for by this chapter is repaid, whichever is earlier.
(C) The approved construction costs as described in Section 11.20.010 will be used for calculation of all reimbursement amounts.
(D) Upon entering into a repayment agreement with the city, the owner shall have the right to connect into the special public improvements in consideration for entering into the repayment agreement.
(E) The field engineering, plans, and specifications required for a special public improvement shall be prepared by the owner and submitted in a manner acceptable to the city and approved by the city prior to construction. The engineering costs for preparation of plans and siting of the special public improvements on the property which are incurred by the owner may be included as determined by the city in the agreed-upon construction costs as provided in this section. The city will perform the inspections during construction. The owner shall provide as-builts of the project upon completion.
(F) The city shall have sole and exclusive control of connections to the special public improvements. Connections to the special public improvements may only be made upon issuance of a written permit from the city. It shall be unlawful to make a connection to a special public improvement without a permit. Such connections may be removed by the city and the costs of removal assessed to the party making the connection.
(G) Prior to the inspection and acceptance of the special public improvements by the city, all reimbursement amounts due by an owner for repayment of the benefit which the property received from the special public improvements shall be paid to the city.
(H) A one (1) time administrative charge will be assessed by the city for the administration of each repayment agreement. The charge shall be calculated based on actual cost incurred by the city for the administration of the agreement; however, the charge shall not be less than five thousand dollars ($5,000.00).
(I) Any owner may assign the benefits arising out of any reimbursement agreement with the city. Such assignments shall not relieve the owner from any duties and obligations under the agreement. The assignment shall require written approval of the city. (1976 Code § 18-4-5)