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12 <br />2. Unplatted or vacant commercial, retail, tax exempt, institutional, medium <br />and high-density residential properties will be assessed as described <br />above based upon the land use allowed by the ordinance. <br /> <br />III. ASSOCIATED INFRASTRUCTURE REPAIRS <br /> <br /> Storm Sewer, Sanitary Sewer, Water main, Sidewalks, and Curb and Gutter: <br /> <br />1. The cost of lateral storm, and sidewalk / pathway, and Curb and Gutter <br />improvements, maintenance, new, and reconstruction within the area <br />where streets are receiving major maintenance will be included in the <br />project cost to be assessed at the same rate as the street portion. <br /> <br />2. The cost of lateral sanitary sewer and water main maintenance and <br />reconstruction within the area where streets are receiving major <br />maintenance will be included in the project cost to be assessed at the <br />same rate as the street portion. <br /> <br />3. The total cost of new lateral sanitary sewer and water main construction <br />will be assessed against the properties receiving sanitary sewer and <br />water service by the new construction. <br /> <br /> <br />IV. FINANCING <br /> <br />A. The cost of the major maintenance and related utility improvements will be <br />assessed over a period not to exceed 15 years. <br /> <br />B. The project costs not funded by assessments will be funded from general city <br />revenues. The City Council may specify other funding sources if they are <br />available and their expenditure is specifically authorized by the Council. <br /> <br />C. The assessment rate will be based on the project cost including the rate of <br />interest on bonds sold to finance the project. No surcharge shall be placed upon <br />the interest rate. <br /> <br /> <br />Adopted: Date XX, 2003 <br /> <br /> <br /> <br /> <br />