If the developer enters into a repayment agreement pursuant to § 46A-10B-31, with the governing body within ninety days of the completion and approval by the governing body of the drainage improvement or facility, then at the time the property abutting the off–site stormwater facility is developed and a building permit is issued, the governing body may assess a charge per front foot to the abutting property developer within the district, and if collected, the governing body shall repay the original installer after deducting a service charge not to exceed three percent to cover administrative costs. All costs for the original construction of the stormwater facility shall be fully paid by the installer before the installer is entitled to repayment under any agreement established pursuant to this chapter. The governing body shall adopt ordinances specifying procedures and requirements governing any repayment made pursuant to this section. Stormwater basin development fees paid by the developer pursuant to § 46A-10B-21 are not eligible for reimbursement under this section or § 46A-10B-31.

Source: SL 1989, ch 388, § 38.