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RESOLUTION R-1718-60: A RESOLUTION OF THE NORMAN UTILITIES AUTHORITY APPROPRIATING $18,774 FROM THE WASTEWATER FUND BALANCE TO PAY BACK REVENUE COLLECTED FROM THE 36TH INTERCEPTOR PAYBACK PROJECT AND THE 36TH FORCE MAIN PAYBACK PROJECT AND AUTHORIZING PAYMENT TO PAYBACK PROJECT INVESTORS.
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BACKGROUND: The City Council approved Resolution R-9900-46 on October 26, 1999 and R-9900-26 on September 14, 1999 declaring the 36th Avenue Interceptor and the 36th Avenue Force Main projects as payback projects. These actions enable the Investors in the payback projects to recover costs from property owners benefiting from the project. In addition, the Norman Utilities Authority and the Investors entered into payback agreements K-9899-36 and K-9900-45 for the 36th Avenue Interceptor and the 36th Avenue Force Main projects, respectively. The parcels subject to payback, as of January 2012, are shown on the attached maps.
In accordance with these agreements, property owners benefiting from the projects are required to payback their share of the project cost as their parcels are developed. The amount of payback collected is based on the acreage of the land developed, the land use, and the estimated wastewater flow. In accordance with the agreements, the City collects a 2% fee for administering the collection and distribution of the payback fees. Payback funds are deposited in the Wastewater Recoupment revenue account (032-0000-366.12-54) prior to disbursement to the Investors.
DISCUSSION: As shown on Attachment 1, payback fees totaling $19,149.17 were collected between July 1, 2012 and June 30, 2017 and deposited in the Wastewater Recoupment revenue account. To date, revenues totaling $83,537.30 have been collected.
It is now necessary to appropriate $18,774 from the Wastewater Fund Balance into account 032-5548-432.47-06, Recoupment Payback. As noted, the City retains 2%, or $375.47, as an administrative fee. As shown in Attachment 2, payback fees will be return...
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