ORD 0466 - Laserfiche WebLink

of the front footage of land that develops along the main extension in proportion to the total front footage of the main itself considering both sides. The term of such agreement shall not exceed seven years, and if I~ full reimbursement has not been made by such time the developer will not be entitled to further reimbursement under that agreement. Provided further, however, that developer shall not be entitled to apply for or receive any reimbursement from front footage fees from land which cannot be served by the main extension as the result of some barrier such as a State freeway, railroad track, drainage canal or boundary line of the master water plan area. SECTION 6: ESTABLISHMENT OF SPECIAL FUNDS. There are hereby established three special funds as follows: a) Water System Improvement Fund. This fund shall be established from a percentage of the revenue received from Water Connection Charges as defined in Section 2. This fund shall be used for the expansion or recon- struction of the water system of the City of Pleasanton, or the servicing of any bonded indebtedness of the City of Pleasanton hereinafter incurred for water system purposes. Interest earned by this fund shall accrue to the fund and be used for the same purposes as the pr inc ipa 1. b) Water System Reimbursement Fund. This fund shall also be established from a percentage of the revenue received from Water Connection Charges as defined in Section 2. This fund shall be used for the purpose of reimbursing developers for oversizing or constructing facilities of General City Obligation. Interest earned by this fund shall accrue to the fund and be used for the same purposes as the principal. c) Water System Trust Fund. This fund shall be established from revenue received from front foot charges for con- nections to existing perimeter mains or off-tract main extensions. This fund shall be used for the purpose of reimbursing developers for the installation of perimeter mains or off-tract main extensions. Interest earned by this fund or excess revenues occuring after reimburse- ment agreements have terminated shall be transferred to the City General Fund to offset the costs of administra- tion of the agreements. SECTION 7: ADJUSTMENTS AND EXCEPTIONS. Upon application, and good cause shown, after a public hearing, the City Council may in its sole discretion modify or waive any of the charges herein provided for or make whatever adjustments and exceptions to the requirements of this Ordinance that the City Council may deem necessary in order to vary or modify the strict application of the terms of this Ordinance in cases in which there are practical difficulties or unusual hardships in the way of such strict ap- plications or in the interest of justice. Applications may be made by developers or by City. SECTION 8: ADVANCE- IN-AID. a) When the City Council determines that the best interests of the City will be served by construction of a water main, it may agree to an advance-in-aid to be paid upon - 5 -