A. When, due to the manner in which a subdivision is developed, the utility is required to construct an underground electric distribution system through a section or sections of the subdivision where service will not be connected for at least 2 years, then the utility may require the applicant to make a reasonable deposit before construction is commenced. The deposit may be no more than the estimated installed cost of the underground distribution system less the estimated installed cost of transformers and meters.
B. The deposit, without interest, shall be returned to the applicant on a proportional basis as each new customer in the subdivision completes his permanent service connection.
C. Any portion of a deposit remaining unrefunded 10 years from the date the utility is first ready to render service from the extension will be retained by the utility and credited to an appropriate account.