Ordinance 2001-134 - Laserfiche WebLink

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may be established for individual impact fee districts. All impact fees collected by the City shall be deposited into the appropriate impact fee account or subaccount, which shall be interest bearing. All interest earned on monies deposited to such account shall be credited to and shall be considered funds of the account. The funds of each such account shall be capable of being accounted for separately from all other City funds, over time. The City shall establish and implement necessary accounting controls to ensure that the impact fee funds are properly deposited, accounted for, and appropriated in accordance with this Ordinance, and any other applicable legal requirements. B. Appropriation of Impact Fee Funds. 1. In General. Impact fee funds may be appropriated for public facilities, for public facility expenditures, and for the payment of principal, interest and other financing costs on contracts, bonds, notes or other obligations issued by or on behalf of the City to finance such public facilities and public facility expenditures. All appropriations from impact fee accounts shall be detailed on a form filed within the Finance Departrpent. 2. Restrictions on Appropriations. Impact fees shall be appropriated only for the particular category of public facilities for which they were imposed, calculated and collected. Impact fees shall not be appropriated, for funding any expenditure that would be classified in an accounting as a maintenance or repair expense or for operational or personal expense or for operational or personnel expenses associated with the provision of the public facility. 3. Appropriation of Impact Fee Funds Beyond Six (6) Years of Collection. Notwithstanding Section 4.B.2, impact fee funds may be appropriated beyond six (6) years from the beginning of the Fiscal Year immediately succeeding the date of collection if the appropriation is for a public facility which requires more than six (6) years to plan, design and construct, and the demand for the public facility is generated in whole or in part by the new development, or if the public facility will actually serve the new development, or where the Capital Improvements Program prepared by the City for a particular category of public facility has used a longer time frame. Such appropriations shall be documented by the City. C. Procedure for Appropriation of Impact Fee Funds. 1. The City Manager shall each year identify public facility projects anticipated to be ftinded in whole or in part with impact fees. The public facilities so identified shall be based upon such inforination as may be relevant, and may be part of the City's annual budget and capital improvements programming process. 2. All such identification of public facility projects shall be consistent with the provisions of this Ordinance, the particular public facility impact fee ordinances Parks & Rec Impact Fee Ord LMD:ch 7/20/01 - 11:36 AM 11