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2 <br />___ Sanitary sewer laterals or extensions, as required by the City, <br />including all necessary building services and other appurtenances <br />(Sanitary Sewer Improvements); <br /> <br />____ Watermain laterals or extensions, as required by the City, including <br />all necessary building services, hydrants, valves and other <br />appurtenances (Watermain Improvements); <br /> <br />2. To assess the Property for the cost of installing the Improvements in an <br />amount not to exceed: <br /> <br />$_________. <br /> <br />This amount represents the current estimated cost of the Improvements. <br />The amount to be assessed may be increased only if: <br /> <br />(a) A larger assessment amount is agreed to in a developer’s agreement <br />for the Property; or <br /> <br />(b) Additional Improvements are installed or the costs of installing the <br />indicated Improvements increases as a result of requests made by <br />the Owner; or <br /> <br />(c) The Owner provide written approval of a larger amount to be <br />assessed. <br /> <br />3. To apportion the assessments for the Improvements to the buildable lots <br />adjacent to the Improvements as the city shall determine. <br /> <br />4. To levy the assessments for the Improvements such that the assessments <br />shall be paid over such period of time and at such rate of interest as the City <br />shall determine in accordance with the guidelines below: <br /> <br />Petitions for residential uses shall be limited to a minimum request of <br />$3,000 and a maximum request of $40,000. Petitions for all other uses shall <br />be limited to a minimum request of $25,000 and a maximum request of <br />$150,000. The City Administrator shall have the authority to approve all <br />petitions up to $20,000. Those petitions above $20,000 will require the <br />approval of the City Council. <br /> <br />Costs levied as a special assessment amounts against the property, pursuant <br />to the Petition, will be at the current bonding interest rate available to the <br />City plus a 1.5% administrative fee. The final rate will be determined at the <br />time of petition signing. The term of the assessment will be as follows: <br /> <br /> Single Family Residential $3,000 to $5,000 Up to 3-years