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AN ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUTH, <br />VIRGINIA, 1988, BY AMENDING SECTION 38-40 THEREOF, PERTAINING <br />TO WATER, SEWERS AND SEWAGE DISPOSAL. <br /> <br /> BE IT ORDAINED by the Council of the City of Portsmouth, <br />Virginia: <br /> <br /> 1. That Section 38-40 of the Code of the City of <br />Portsmouth, Virginia, 1988, be amended by adding Subsection <br />(f) thereto, to read as follows: <br /> <br />Section 38-40. Charges for and ownership and maintenance of <br /> water connections. <br /> <br /> (f) Whenever the owner or developer of any subdivision, <br />not to inc3_~de minor~divis/ons, desire~to have new wa~er <br />service connections installed to facilitate the paving of sai~ <br />subdivision streets, he may pay in advance in accordance with <br />subsection (a), or may elect to furnish the Department of <br />Public Utilities a surety bond or irrevocable letter of credit <br />in an amount equal to the total water service connection <br />charges, plus an additional 10% of the amount of the total <br />water service connection charges, guaranteeing payment of the <br />total charges within a time period prescribed by the Director <br />of Public Utilities not to exceed two years. This surety bond <br />or irrevocable letter of credit must be furnished prior to the <br />execution of a water service connection agreement, and must be <br />in a form deemed satisfactory by the City Attorney. <br /> <br /> 2. That this ordinance shall take effect as of the date <br />of its adoption. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held July 24, 1990. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />