§ 12.14.060. General requirements.

(a)

Any buyer of any lot the frontage of which does not have curb and gutter constructed thereon which is zoned or used for residential, commercial, or industrial purposes as defined in Section 12.14.020 above, shall within 180 days of consummation of the purchase, exchange, lease with an option to purchase, or other transfer of ownership interest, install or construct or cause to be installed or constructed curb and gutter along the entire frontage of the lot in accordance with the requirements and standards set forth in Chapter 12.04 of this code. Buyer's obligation shall be limited to the site preparation and construction of new curbs and gutters and shall not be obligated for the construction or relocation of drop inlets, sewer, water, gas, electric, or other utilities, or the reconstruction of existing curbs and gutters.

(b)

As an alternative to the requirements of subsection (a) of this section, the following options are available to the buyer:

(1)

The superintendent may require the buyer to pay, in lieu of the installation or construction of curb and gutter, a fee equivalent to the estimated cost of such installation or construction at the time of purchase, to be deposited in a special account for the installation or construction of the curb and gutter by the city, provided that the curb and gutter must be installed or constructed within a reasonable time thereafter. If the actual cost of the installation or construction of the curb and gutter is less than the amount of the fees paid, the balance shall be refunded to the buyer; or

(2)

Provided that funds are budgeted and available, the buyer may elect to enter into a written loan agreement with the city for the purpose of financing the cost of the installation or construction of the curb and gutter. The principal amount of the loan shall be limited to the cost of installation or construction, as evidenced by actual invoices. The term of the loan shall not exceed 60 months and shall carry an annual interest rate which shall be the prevailing rate at the time the moneys are issued. The city shall bill the buyer monthly through its utility billing system. Payment shall be due and payable upon receipt of each billing.

(3)

Any such loan obligation shall be a personal obligation of the buyer and shall be recorded as a lien against the subject property. Upon entering into such an agreement, the buyer shall remain responsible for the obligation until either fully paid or a future buyer of the subject property agrees to assume the responsibility and enters into a separate written agreement with the city to pay the remaining loan balance at the same monthly payment rate as the original agreement.

(Ord. 523B §2(part), 1989)