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TO AMEND SECTION 928.02, TRIANGLE NORTH SANITARY SEWER DISTRICT, OF CHAPTER 928, SEWER DISTRICTS, OF THE CODIFIED ORDINANCES OF GAHANNA, TO SET FORTH A SPECIFIC FEE IN THE CODE.
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WHEREAS, it is always desirable to keep continuity to the sections of our Codified Ordinances; and
WHEREAS, the fees for the Triangle North Sanitary Sewer District are presently presented in form of percentages and factors;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That Section 928.02, Triangle North Sanitary Sewer District, of Chapter 928, Sewer Districts of the Codified Ordinances of Gahanna, is hereby amended as follows:
928.02 TRIANGLE NORTH SANITARY SEWER DISTRICT.
There is hereby created an area known as the Triangle North Sanitary Sewer District for the purpose of constructing a sub trunk sewer to serve the district, and to recover the cost of said sewer by means of a per acre fee, as described herein, with said Triangle North Sanitary Sewer District more particularly described in Exhibit A and map as shown on Exhibit B, with both exhibits attached to the original Ordinance 216-97, passed October 21, 1997.
(a) Fees. The properties enclosed by the boundaries of Exhibits A and B of original Ordinance 216-97, passed October 21, 1997, which connect to the sub trunk sewer or tributaries and are developed in a commercial zoning, a multi-family zoning, or are platted subdivisions shall be assessed an acreage fee. This fee shall be based on the actual cost of the sewer finances over a seven-year period with an interest rate of eight percent ( 8%). Engineering economical analysis, assuming seven equal payments, yields a factor of 1.3447. The capital recovery cost calculated is to be divided by the 142 acres in this district. . THE FEES THUS CALCULATED ARE HEREBY SET AT FOUR THOUSAND FOUR HUNDED THIRTY-SEVEN DOLLARS ($4,437). Fees are to be paid upon acceptance of connecting sewer or connectio...
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