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<br />5. Notwithstanding any other provision of this Section 3.C., no credit or offset shall be <br />given for land dedicated, cash contributed or actual construction undertaken prior to <br />the effective date of this Ordinance. <br /> <br />D. Collection. <br /> <br />1. The Building Official or designee, shall collect all applicable impact fees at the time <br />of issuance of a building permit and shall issue a receipt to the applicant for such <br />payment unless: <br /> <br />a. the applicant is determined to be entitled to a full offset; or <br /> <br />b. the applicant has been determined to be not subject to the payment of a impact <br />fee; or <br /> <br />c. the applicant has filed an appeal and a letter of c;redit performance bond in the <br />amount of the impact fee, as calculated by the Building Official or designee, <br />has been posted with the City. Such inevoeable letter of c;redit cash bond must <br />first be approved by the City Attorney. <br /> <br />2. The Building Official shall collect an impact fee at the time of issuance of a building <br />permit even if impact fees were paid by the applicant at an earlier time in the <br />development permit or approval process, including at the time of application for a <br />building permit, if the amount of the impact fees has increased since such prior <br />approval. The applicant shall only be liable for the difference between the impact fees <br />paid earlier and those in effect at the time of issuance of the subsequent building <br />permit. <br /> <br />Section 4: <br /> <br />Establishment of Impact Fee Accounts; Appropriation of Impact Fee Funds; And <br />Refunds <br /> <br />A Impact Fee Accounts. An impact fee account shall be established by the Commission for <br />each category of public facilities for which impact fees are imposed. Such account shall clearly <br />identify the category, account, or fund for which the impact fee has been imposed. Sub-accounts <br />may be established for individual impact fee districts. All impact fees collected by the City shall <br />be deposited into the appropriate impact fee account or sub-account, which shall be interest <br />bearing. All interest earned on monies deposited to such account shall be credited to and shall be <br />considered funds of the account. The funds of each such account shall be capable of being <br />accounted for separately from all other City funds, over time. The City shall establish and <br />implement necessary accounting controls to ensure that the impact fee funds are properly <br />deposited, accounted for, and appropriated in accordance with this Ordinance, and any other <br />applicable legal requirements. <br /> <br />Police hnpact Fee Ord. <br />Legislative/Ordinance/Attorney <br /> <br />10 <br />