When public water service is required by this chapter and an extension of an existing public water system is not feasible, a developer may propose the construction of a pump and well system, or other water supply system, to be dedicated to and become a facility of the county for approval by the governing body. The developer shall submit such information as may be requested by the county to evaluate the proposal. If approved, the developer shall enter into an agreement with the county to construct the facilities in accordance with all county requirements and to convey the system together with all necessary easements and right-of-ways to the county upon completion and approval. The agreement shall include terms providing for the amount of any fees to be paid to the county and shall also set forth any cost sharing involved. Such agreements shall be authorized by the governing body, executed by the county administrator on behalf of the county and approved as to form by the county attorney. Such agreements shall be executed by all parties prior to the issuance of a certificate to construct.