The public works director may authorize a delay in the placement of electric wires underground where such placement, in the opinion of the public works director, could in the foreseeable future be accomplished more efficiently and cost effectively in conjunction with development of contiguous real property or as part of a city financing mechanism, including but not limited to a local improvement district or a city bond issue. In such event, the persons responsible for the cost and expense of such placement shall enter into an agreement with the city regarding the delay in performance. (Ord. 2630 § 1, 2006)