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<br /> -10- <br /> as of the effective date of this Ordinance <br /> or the capacity being requested is capacity <br /> being developed as evidenced by the sale of <br /> appropriate obligations by the City for <br /> necessary sewerage system improvements, or <br /> the capacity being requested is capacity <br /> available because of newly constructed <br /> sewerage system facility improvements. <br /> This determination will be forwarded to <br /> City Council along with a description of <br /> the property where the reservation will be <br /> used and other appropriate information; <br /> d) For the purpose of this subsection, <br /> Section 30-49.2, the reservation will be <br /> considered applied and non-revertable to <br /> the City when the property as described in <br /> the reservation has been properly zoned, <br /> platted and developed with all <br /> required street, drainage, and utilities <br /> accepted by the City and appropriate <br /> utility companies. If these <br /> infra-structure improvements have been <br /> completed and accepted by the City, the <br /> dwelling unit reservations for capacity <br /> will be assigned by the Director of Public <br /> Works to individual lots in the <br /> development and will be considered a <br /> commitment for capacity which will run <br /> with the land and not be severable; <br /> e) The granting of the reservation of <br /> capacity will be approved by the City <br /> Council by resolution authorizing the <br /> Mayor to enter an agreement granting such <br /> reservation of capacity; and, <br /> f) If the party who has been granted a <br /> reservation of capacity does not utilize <br /> the entire amount of the reservation by <br /> the time stated in the agreement, the <br /> remaining capacity will revert to the City <br /> to be used as the City determines with no <br /> refund from the City to the party with <br /> said reservation, but without prejudice to <br /> the party to reapply for another <br /> reservation subsequent to such reversion. <br />Section 30-50. Capital Recovery Fee Fund. <br />All amounts collected under this Division shall <br />be deposited to the Water and Sewer System <br />Revenue Fund established and maintained in <br />accordance with the Ordinance authorizing the <br />city's Junior Lien Waterworks and Sewer System <br />Revenue Bonds, Series 1968, to be applied <br />pursuant to the provisions of said Ordinance as <br />revenue arising from the operation or ownership <br />of the City's combined waterworks and sewer <br />system. Surplus funds remaining in said Revenue <br />Fund at the end of each month, after all <br />expenditures, deposits, and transfers required by <br />said Ordinance and the ordinances authorizing any <br />bonds or other obligations issued to be payable <br />in whole or in part from revenues of the City's <br />waterworks and sewer system have been made <br />therefrom, not exceeding the total amount of <br />CRF's deposited to said Revenue Fund during such <br />