(a)
The city finance department shall establish separate interest-bearing
accounts for water system impact fees and for wastewater system impact
fees. Each impact fee collected for that category shall be deposited
in that account.
(b)
Interest earned on each impact fee account shall be credited to that
account, and shall be used solely for the purposes authorized in this
article.
(c)
The city finance department shall establish and maintain adequate
financial and accounting controls to ensure that impact fees disbursed
from an account are used solely for the purposes authorized in this
article. Disbursement of funds shall be authorized by the city at
such times as deemed reasonably necessary to carry out the purposes
and intent of this article.
(d)
The city finance department shall maintain financial records which
show the source and disbursement of all fees collected or expended
for each impact fee account. The records shall be open for public
inspection during ordinary business hours.
(Ordinance 101007-1 adopted 10/7/10)
(a)
Impact fees collected under this article shall be used to finance
or to recoup the costs of constructing any capital improvements or
facility expansions identified in the capital improvements plan for
the applicable category of capital improvements. Construction costs
include the construction contract price, surveying and engineering
costs, and land acquisition costs (including purchase price, court
awards and costs, attorney’s fees, and expert witness fees).
Water system impact fees will be used only for water system capital
improvements or facility expansions. Wastewater system impact fees
will be used only for wastewater system capital improvements or facility
expansions.
(b)
Impact fees may be used to pay the principal and interest and other
finance costs on bonds, notes or other obligations issued by or on
behalf of the city to finance capital improvements or facility expansions
identified in the capital improvements plan.
(c)
Impact fees may be used to pay fees to an independent qualified engineer
or financial consultant (i.e., an engineer or consultant who is not
an employee of the city) for preparing or updating the capital improvements
plan.
(d)
The city may pledge impact fee revenues as security for the payment
of debt service on a bond, note, or other obligation issued to finance
a capital improvement or facility expansion identified in the capital
improvements plan if the city council certifies in an ordinance or
resolution that none of the revenues will be used or expended for
an improvement or expansion not identified in the plan.
(e)
Impact fees collected under this article shall not be used to pay
for any of the following:
(1)
Construction, acquisition or expansion of public facilities or assets
other than capital improvements or facility expansions identified
in the capital improvements plan;
(2)
Repair, operation, or maintenance of existing or new capital improvements
or facility expansions;
(3)
Upgrade, update, expand or replace existing capital improvements
that serve existing development in order to meet stricter safety,
efficiency, environmental or regulatory standards;
(4)
Upgrade, update, expand or replace existing capital improvements
to provide better service to existing development;
(5)
Administrative and operating costs of the city; or
(6)
Principal and interest or other finance charges on bonds or other
indebtedness for capital improvements or facility expansions not identified
on the capital improvements plan.
(Ordinance 101007-1 adopted 10/7/10)
