(1) Based upon the preliminary assessment reimbursement area and the preliminary assessment, if no hearing is requested, or based upon the City Council’s determination of the assessment reimbursement area and assessment if a hearing is requested, the Public Works Department shall prepare and give to the developer a developer reimbursement agreement.

(2) Each agreement shall include a provision requiring that every two years from the date the agreement is executed, the developer entitled to reimbursement under this section shall provide the City with information regarding the current contact name, address, and telephone number of the person, company, or partnership that originally entered into the agreement. If the developer fails to comply with the notification requirements within 60 days of the specified time, then the City may collect any reimbursement funds owed to the developer under the agreement. The funds collected under this subsection shall be deposited in the capital expenditure account of either the City’s utility fund or street fund, as appropriate. [Ord. 4156, 2014; Ord. 3709 § 1, 2004; Code 1970 § 14.12.060.]