In order to pay for the full annual cost of debt service, including
the interest on and amortization of and payment of all outstanding
indebtedness which has been or will be incurred for the construction
and addition to the District sewage system, the Town shall levy and
collect assessments for capital improvements on a benefit basis, pursuant
to Article 15 of the Town Law.
The annual capital charge shall be based on an equivalent-dwelling-unit (EDU) basis, a "dwelling unit" being defined as a separate living unit complete with bath or shower, toilet and kitchen. EDUs shall be assessed in the same manner as set forth in § 279-37 of this chapter.
The amount of each property owner's annual installment will
be the amount necessary to pay the property owner's proportionate
share of principal and interest due on the obligations issued by the
Town. These annual installments are levied by Yates County at the
time and in the manner provided by law for the levy of state and county
taxes.
