Whenever any property owner constructs a sidewalk of his premises along a city street, and a part of such sidewalk in installed and constructed in the street intersection, the city shall pay and reimburse such property owner for that portion of such sidewalk being within the street intersection at the prevailing rate per square foot (subject to the availability of city funds); provided such property owner notified the city engineer or building official of the completion of such sidewalk within 60 days after the completion thereof, and such property owner had obtained the required permit to construct the sidewalk and such sidewalk meets the approval of the city engineer or building official. In the event the property owner fails to comply with this section of the chapter, the city is in no way obligated to reimburse said property owner for any of the cost of said sidewalk in said street intersection. (Ord. 4413 §7, 1987).