The City shall establish separate accounts for each category of development impact fee established by the City Council and deposit development impact fees collected into the appropriate account. The money deposited into these accounts, and any interest earnings thereon, shall be used solely for the public improvements, public services, and community amenities for which the development impact fees were imposed. Development impact fees may be used to pay the principal, interest and other costs of bonds, notes and other obligations issued or undertaken by or on behalf of the City to finance such improvements, services and amenities.
(Ord. 93 § 1, 2014)