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multiplied times the cost per foot for the new line <br />which is being tapped. The cost per foot for each <br />new main shall be recorded by the city clerk and <br />shall be computed as defined hereafter in <br />subparagraph (2). <br />"(b) No pro rata charge shall be made on any water or sewer <br />main which was not constructed under a pro rata contract or <br />by the City of Paris. <br /><< <br />"(4) Contracts for pro rata refund. <br />"(a) Any individual or developer making an authorized <br />pro rata extension or deposits into the water and <br />sewer fund for such an extension of water or sewer <br />mains which cross property not owned or under <br />direct control of said individual or developer shall <br />receive any funds which may be collected from pro <br />rata charges to other property owners making <br />connection of such extensions. <br />"(b) A contract between the City of Paris and the sponsor <br />shall be executed at the time of completion of <br />construction and shall state the price per front foot or <br />other proper charges as determined by the city <br />council which shall be charged as pro rata charges <br />and the maximum amount of refund which may be <br />paid to the original sponsor. The contract herein <br />described shall be binding upon all parties, their <br />heirs and assigns until such time as all amounts due <br />under said contract have been collected. <br />"(c) The maximum amount of refund due a sponsor shall <br />be the original cost, less the pro rata charges due for <br />property owned or controlled by the sponsor. The <br />sponsor shall not have rights to any funds except <br />those which may be collected from the pro rata <br />charges under said contract. In no case shall the <br />total payments made to the City of Paris and <br />refunded to the sponsor exceed the maximum shown <br />in the contract. <br />