If the city council finds that it is in the public interest to assist a sponsor in recoupment of private funds expended for construction of sanitary sewerage and/or water facilities, the city council shall make and enter into a recoupment agreement with the property owner for construction of the facilities within the facility planning area of the city, to serve the area in which the property of the sponsor (the "sponsoring property") is located and other areas located within the facility planning area of the city. Once made and entered into, the recoupment contract shall be filed with the recorder of each county in which the city’ s facility planning area is located in order to notify persons interested in connecting to or using the facilities that there will be a charge in relation thereto. Said contract shall also provide for the dedication of the facilities to the city for public use upon completion of the construction of the same in compliance with the codes and ordinances of the city, and acceptance thereof by the city. Said contract shall further provide for reimbursement to the sponsor of a proportionate share pf the total cost of such construction from beneficiaries located in the city’ s facility planning area who directly or indirectly tap-in to or use the sewerage facility to deposit waste water therein or use the water facilities to draw water therefrom. Such recoupment shall be paid to such sponsor based upon the schedule of payments set forth in the recoupment contract between the city and the sponsor. Such contract may also provide that the city, at the expense of the sponsor, will assist in the acquisition of necessary rights-of-way by the exercise of the city’ s power of eminent domain to the extent the same is allowed by law. The contract may include such other terms and conditions as are approved by the city council. (Ord. 1754 § 1 (part), 1999)