14.02.120 Payment of latecomer assessments – Remittance to developer.
A. Upon recording, the latecomer agreement and assessment shall be binding upon all properties located within the assessment reimbursement area. Assessments shall be paid to the city in one lump sum, including interest through the date of payment, as follows:
1. Assessments for street improvements shall be paid prior to the development or redevelopment of property if at the time of development or redevelopment the property owner is not required to construct similar street improvements because they were already constructed by the developer.
2. Assessments for utility system improvements shall be paid prior to connection to or use of the utility system improvements.
B. The city will pay over to the developer the amounts due within 60 days of receipt.
C. When the assessment for any property has been paid in full, the public works director or his designee shall record a certification of payment that will release the property from the latecomer agreement.
D. The latecomer charge shall be in addition to the usual and ordinary charges, including connection charges, system development charges, and any other fees or charges which must be paid by persons applying for city services. [Ord. 2016-09-034 § 1; Ord. 2014-06-033].