The standard participation contract shall provide that before the property receives water service, the property owner must pay to the city, in addition to any main, connection and permit fee or charge which may be due, an amount of money which shall constitute a charge in lieu of assessment and which may be determined as near as may be by the use of the assessment formula used in a utility local improvement district, then by any fair means at the discretion of the city council. The charge in lieu of assessment must be paid in full before connection to the public water system of the city is permitted, but if the city council approves, and if the property owner prepays at least 10 percent thereof, the balance of the charge in lieu of assessment may be paid in equal annual installments, plus interest at a predetermined rate annually on the unpaid balance, payable in not more than five years, or sooner; and that unpaid balance plus interest shall become and remain a lien against the property prior to any other charges whatsoever, except taxes.
(Ord. 1734 § 1, 2009)