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 Haltom City
 Code of Ordinances
 Chapter 98. WATER AND SEWERS
 Article VIII. WATER AND SEWER PRO RATA

  § 98-385. Management of escrow account.  

Latest version.

  • (a)

    The city shall establish an escrow account in the water/sewer fund for the deposit of all pro rata payments made by subsequent developers. A separate escrow account shall be established for each public utility system constructed by an initial developer. All pro rata fees received from subsequent developments or subdivisions in that drainage basin or service area shall be deposited into that specific escrow account.

    (b)

    A minimum of twice each year, on January 30 and on July 31, the director of finance shall inventory each escrow account to determine what percentage of those monies is allocable to reimbursable oversizing costs owed by the city as determined under section 98-386. This allocation shall be determined in the same proportion that the cost of the oversized line bears to the cost of the line size that is necessary to serve the development. For other utility system improvements, the allocation shall be determined in the same proportion that the cost of the oversized improvements bear to the cost of the minimum improvements required by city ordinances to serve the development, as determined by the city engineer. Upon completion of such inventory, the director of finance shall transmit all escrow funds due and owing to the initial developer. Upon payment of these funds, the city will receive a credit for the amount of money allocable toward its reimbursable oversizing requirements as set forth in section 98-386.

    (c)

    The developer shall be responsible for providing to the city, and maintaining with the city, an accurate current address. When escrowed funds are available for disbursement, the city shall notify the developer at the address on file with the city. If the developer fails to withdraw the funds within six months, the funds shall be forfeited to the city's water and sewer fund.

    (d)

    At no time shall the developer be entitled to receive reimbursement for a sum greater than the initial cost of the public utilities less the pro rata share of capacity of that utility system that would have been attributable to the initial development for its proportionate share of capacity in the system.

(Ord. No. O-98-004-11, § 1(21-179), 1-26-98)