San José Municipal Code § 15.08.900 Alviso water service area water main reimbursable fund.
15.08.900 - Alviso water service area water main reimbursable fund.
There is established the Alviso water service area water main reimbursable fund. Said fund shall be administered as follows:
A. All water main area charges and frontage charges received from applicants for water service within the Alviso water service area shall be deposited in said fund. No other moneys shall be deposited in said fund.
B. There shall be no obligation, except as provided in this section, on behalf of the City of San José in favor of said fund or in favor of the beneficiaries thereof to reimburse or make any deposits in said fund whether or not the fund at any given time is sufficient to meet the demands made upon it.
C. Annually, within a reasonable time after the thirtieth day of June of each year, all moneys deposited in the Alviso water service area water main reimbursable fund during the twelve months preceding such June 30th, and any surplus remaining from any years prior thereto, shall be distributed to applicants who as of said June 30th have credits to their accounts in said fund. The amount of payment to each said applicant shall be in the same ratio to the total amount contained in such fund as such applicant's credit (without reduction for partial reimbursement) bears to the total credits (without reduction for partial payment) carried in the fund as of said date and which on said date have not been terminated by full reimbursement, provided that no applicant shall be entitled to reimbursement for an amount in excess of his credit in such fund. No portion of such moneys shall be distributed until such time as all those persons referred to in Section 15.08.950 have had an opportunity to enter into reimbursement contracts in accordance with the terms of the main-extension agreements referred to in said Section 15.08.950.
D. 1.
An applicant entitled to reimbursement shall be carried on the reimbursable account until one of the following shall first occur:
a. Full reimbursement is made in accordance with the contract between the city and the applicant;
b. Twenty years have elapsed from June 30th of the final year in which the applicant's account has been credited;
c. Upon purchase by the city of the right to reimbursement pursuant to subsection C. of Section 15.08.780.
2. Upon occurrence of a or b in subsection D.1. above, the city shall succeed to the reimbursable credit of the applicant in the Alviso water service area water main reimbursable fund, and shall be entitled to all payments due thereon until the total reimbursable amount has been discharged.
(Prior code § 7607.2.)
