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outstanding, together with an ac knowledgement that the balance of the <br />connection fee or charge remains unpaid and must be paid in full prior to the <br />issuance of a Certificate of Occupancy. The Fee Deferral Agreement may <br />provide for the fees to rise with inflation, when the City Commission finds the <br />development may encounter delays. The Fee Deferral Agreement, once <br />recorded in the Official Records, will constitute a lien on the property in question. <br />(d) Security. The Fee Deferral Agreement may include security that the applicant <br />has provided to ensure payment of the benefit fees, connection fees and <br />charges, which security may include one of the following forms, at the City's <br />discretion: <br />a. Cash bond equal to 25% of the total amount of the connection fee or <br />charge, as calculated at the time of permit application: or <br />b. An immediately funded escrow account in an amount determined by the <br />City. <br />SECTION 2. Section 86 -68, Benefit fee and connection charge, of Chapter 86, <br />Utilities, is hereby amended as follows: <br />Sec. 86 -68 — Benefit fee and connection charge. <br />(a) Benefit fee established; purpose. There is hereby established a s ewer <br />charge of $6.92 per gallon, which shall be paid by the user prior to hookup, or <br />as specified by agreement, pursuant to Section 86 -3, for replacing equivalent <br />unit capacity at the City's sewage treatment plant or at Iron Bridge regional <br />sewage treatment plant. Such fee shall be modified as required by the City <br />Commission to reflect costs for providing sewer capacity to a new user. The <br />schedule set out in this Section shall be used to determine the fees for <br />providing connection to interceptor lines, master lift and pumping stations, <br />force mains, treatment facilities and other required sewer facilities inside and <br />outside the corporate limits of the City, and for retention of maximum capacity <br />and performance of the municipal sewer system. <br />SECTION 3. Section 86 -96, Application for service; permit, of Chapter 86, <br />Utilities, is hereby amended as follows: <br />Sec. 86 -96. — Application for service; permit. <br />(b) Application for service. <br />(2) All costs, charges, fees and deposits incident thereto shall be paid <br />with the application, or as specified by agreement, pursuant to Section 86 -3. T he <br />