J. MILLARD TAWES, Governor                     1713

the number of years that it has yet to run, less the interest, at the rate
of interest of the bonds out of the proceeds of which the construction
upon which said benefit charge is based, was done. [, calculated an-
nually on the amount of such annual front foot benefit charge; and
u] Upon the receipt of such sum, or sums, from the extinguishment or
redemption of one or more front foot benefit charges, the Commission
shall purchase and cancel one or more bonds out of the series of bonds
issued for the purpose of the construction which was the basis of said
front foot benefit charge. The Commission is hereby authorized to
make up any deficiency in the purchase of a bond or pay a premium
if required, out of any surplus funds available. The extinguishment
or redemption of any benefit charge shall be conditional until the last
year of maturity of the bonds from the proceeds of which the con-
struction was done, and if following redemption or extinguishment
the use of the property changes to another class so that the property
would be placed in a different class yielding a greater annual benefit
charge than that utilized for computing the redemption amount, the
Commission may reclassify the property and re-impose a benefit
charge for the remaining number of years, calculating the benefit
charge, however, so as to give credit for the sum paid for extinguish-
ment or redemption.

(j) [From and after January 1, 1958, said Commission for the
purpose of assessing benefits, as now provided by law, for the con-
struction of its water and sewer lines shall divide all properties
bordering on a street, road, lane, alley or right-of-way in which a
water pipe or sanitary sewer is to be laid into five classes, namely,
agricultural, small acreage, remote area, industrial or business, and
subdivision property.] Where an applicant applies for water or sewer
lines in an area in which the Commission determines it is economically
not feasible to serve unless the applicant makes a substantial contri-
bution to the cost of construction of such water and sewer lines in-
cluding the cost of connecting them with the Commission's system the
Commission may classify applicants property together with other
adjacent or adjoining properties that could be readily served from the
construction required by applicant as a "remote area" and upon the
approval of such application and the payment of the contribution, it
may construct such water or sewer lines as are desired by applicant
levying the usual front foot benefit charge as provided by law. The
Commission may contract with the applicant at the time of such
contribution to refund part or all of such contribution from any front
foot benefit charges levied against property on [L] lines subsequently
constructed by the Commission and served through the lines of the
applicant, within such "remote area." The proportion to be refunded
and the maximum time of repayment, not exceeding ten (10) years,
to be determined by the Commission.

Sec. 2. And be it further enacted, That this Act shall take effect

June 1, 1963.

SEC. 2. AND BE IT FURTHER ENACTED, THAT IF ANY
WORD, PHRASE, CLAUSE, SENTENCE OR ANY PART OR
PARTS OF THIS ACT SHALL BE HELD UNCONSTITUTIONAL
BY ANY COURT OF COMPETENT JURISDICTION, SUCH UN-
CONSTITUTIONALITY SHALL NOT AFFECT THE VALIDITY
OF THE REMAINING PARTS OF THIS ACT.