The Council anticipates the recurring need to assess developers the cost of infrastructures imposed on the County by developments. The purpose of this Article is to establish a trust fund and to provide a policy regarding the use of said trust fund.
(Ord. No. 371, August 27, 1979; Ord. No. 427, June 1, 1982)
The annual CIP budget ordinance shall contain a trust fund account to include all contributions made by developers and others for the purpose of relieving impacts created by developments. The Council shall, in making the appropriations in the budget, identify the projects and cost estimates for the project similar to other Capital Improvements Projects. Capital improvement may include plans, land acquisition, structures, roads, sewers, equipment and other public facilities.
(Ord. No. 371, August 27, 1979; Ord. No. 427, June 1, 1982)
Appropriations for expenditures from said trust fund shall be pursuant to ordinance and limited to capital improvements and shall exclude operating expenditures. In the event the ordinance originating the contribution limits the use or area of use of such contribution, all expenditures from such contribution shall be limited to the restricted uses and area. In the event there is no restriction as to use or area, the Council may expend such contributions in any area.
(Ord. No. 371, August 27, 1979; Ord. No. 427, June 1, 1982)
All interest revenue on the investment of the cash proceeds contained in this fund shall be deposited in the general fund of the County of Kaua'i and expended for general fund purposes.
(Ord. No. 371, August 27, 1979; Ord. No. 427, June 1, 1982)