§ 47-351 — Accelerated projects authorized

Sec. 47-351. - Accelerated projects authorized.

(a) In areas served by the system where existing wastewater capacity is insufficient to meet current demand for additional service and such demand is sufficient to support the immediate acquisition or construction of improvements to increase the wastewater capacity of the system, the director is authorized and directed to define accelerated projects, and to provide for the financing thereof by soliciting prepaid capital recovery charges. (b) In each such case the director shall determine, and publish a notice which states: (1) A description of the area which will be served by the accelerated project. (2) The total estimated cost of the accelerated project. (3) The estimated minimum amount (the "city's minimum share"), in dollars, of the total cost of the accelerated project which will be financed by funds other than those received as prepaid capital recovery charges. (4) The minimum amount (the "minimum subscription amount"), in dollars, of subscriptions which must be received before the city will commit to proceed with the accelerated project (such minimum amount shall not exceed a sum equal to 85 percent of the excess of the total estimated cost of the accelerated project over the city's minimum share). (5) The maximum amount, in dollars, of subscriptions which will be accepted with regard to the accelerated project. (6) The time period during which subscriptions will be accepted for the accelerated project (the "subscription period"). (7) The estimated date on which the accelerated project will become operational.

(Code 1968, § 49-751; Ord. No. 83-650, § 1, 5-3-83)