05-D Alt. Sewer/Historic Dist - Laserfiche WebLink

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shall also prepare a written estimate of the total cost of extending the alternative sewer collector. (4) The City Council shall review the City Engineer's findings, shall determine if the conditions stated in paragraph (2) have been met, and shall determine if the City has funds available to extend the alternative sewer collector. (5) If the City Council approves the request, the City shall extend the alternative sewer collector, subject to the following terms and conditions: (a) The owner or owners of the structure shall agree to pay one-half(i/2) of the total actual cost of extending the sewer collector. The actual cost shall be determined following construction of the alternative sewer collector by the City and shall include all costs of construction, materials, labor, right-of-way, and other costs associated with said construction. Unless an assessment of the owner's one-half (1/2) share of the cost is approved by the City Council as provided herein, the owner shall deposit with the City prior to initiating the project an amount equal to one-half (1/2) of the Engineer's estimate of the cost of the project. Following completion of the project, an adjustment shall be made, and the owner shall pay any additional amounts owed or shall be reimbursed by the City for any excess amounts deposited, based on the actual cost of the project. (b) At the discretion of the City Council, the one-half (1/2) share of the cost of extending the collector may be collected by the City as an assessment on the property, payable as part of the owner's water and sewer bill in equal monthly installments for a period of time not to exceed seven (7) years, at an interest rate established by the City Council not to exceed ten percent (10%) per year. (c) The owner or owners shall execute a contract, in a form created by the City Attorney, establishing the terms and conditions of said contractual assessment. (d) By the terms of the contract, the contractual assessment against the benefitted property shall be collectable with interest, cost of collection, and reasonable attorneys' fees. The assessment shall be a first and prior lien on the assessed property and the lien shall take effect on the date of the execution of the contract by the City and the owner. The contractual lien shall be superior to any and all other liens or claims except a duly filed and perfected purchase money lien, mechanics lien, or other state, county, school district, or municipal property tax lien. The assessment shall be a personal liability and charge against the owners of the assessed property on the date on