(A) The reimbursement agreement shall designate the parcels and persons who are entitled to reimbursement amounts and shall include a map, drawing or 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 Community Facilities 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 reimbursement agreement shall set forth the total of the reimbursement amount to be paid to the City, which shall repay such reimbursement amounts to the person or entity entitled thereto, including a community facilities district. The total of the reimbursement amounts shall not exceed that portion of the agreed construction costs of the special public improvement allotted to property outside the area of the owner. The reimbursement agreement shall terminate in 15 years from the effective date of the reimbursement agreement or when the total amount provided for by this article is repaid, whichever is earlier.

(C) The approved construction costs as described in § 24-1-4(E) will be used for calculation of all reimbursement amounts.

(D) Upon entry into a reimbursement agreement with the City, the owner shall have the right to connect into the special public improvement in consideration for entry into the reimbursement agreement.

(E) The field engineering, plans and specifications required for a special public improvement shall be prepared by the developer and approved by the Engineering Department prior to completion of construction. The engineering costs for preparation of plans and staking of the special public improvements on the property which are incurred by the owner may be included as determined by the engineering department as provided in this article. The City, or its designated representative, will perform the inspections during construction.

(F) The City shall have sole and exclusive control of connections to the special public improvement. Connections to the special public improvement may only be made upon issuance of a written permit from the Community Development Department. It shall be unlawful to make a connection to a special public improvement without a permit. The unlawful connections may be removed by the City and the costs of removal assessed to the party making connection.

(G) Upon final plat or site plan approval (at city’s option) the owners of the benefitted property shall pay 100% of the benefitted property’s share of the cost of the special public improvement to the City.

(H) An annual charge will be assessed pursuant to a procedure adopted by the City for the administration of each reimbursement agreement. This annual charge shall be the greater of $100 per year or 0.5% of the outstanding balance due under the agreement.

(I) Any owner may assign the benefits arising out of any reimbursement agreement with the City. The assignments alone shall not relieve the owner from its duties and obligations under the agreement. The assignment shall require prior written notice to the City. (Ord. 03-853, passed 8-11-2003; Am. Ord. 04-903, passed 6-14-2004)