(a) The municipality shall make financing for the installation costs available to affected property owners;

(b) Affected property owners may apply to pay the assessments in installments as provided in ORS 223.205 to 223.314, but the municipality may impose a reasonable penalty for prepayment of assessment installments;

(c) The municipality may issue special assessment bonds to finance the installation costs pursuant to ORS 223.235, but may sell such bonds at public or private sale in the same manner as port district revenue bonds may be sold pursuant to ORS 777.575 (4); and

(d) The municipality may issue Bancroft bonds pursuant to ORS 223.205 to 223.314, but only for installation costs for property within an area affected by an order of the Environmental Quality Commission or any court.

(2) As used in this section:

(a) "Installation costs" means the costs of placing, installing and connecting sewer lines and mains between a home or multifamily dwelling and the adjacent street sewer lines, drains or other storm or sanitary sewer facilities of the municipality, and costs of providing financing for such placement, installation and connection.

(b) "Municipality" means a city, county, county service district, sanitary authority or sanitary district. [1985 c.417 §1; 1991 c.902 §114; 1997 c.249 §154]

Note: 454.805 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS chapter 454 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.