There is established a fund, entitled park fund, into which fund shall be placed all monies received by the city to be used for park land acquisition or capital improvements to parks, and all monies received by the city pursuant to Chapter 16.12 WRMC, Public Open Spaces.
(Ord. 307 § 13B, 1979; Ord. 383 § 1, 1980)
A. 
Park impact fees may be spent for park improvements including, but not limited to, park planning, engineering design studies, land surveys, property acquisition, engineering, permitting, financing, administrative expenses, construction of new and reconstruction of existing parks, park amenities and pathways and related recreational facilities such as swimming facilities, community and recreational centers.
B. 
Park impact fees may be used to recoup costs for park improvements previously incurred by the city to the extent that new growth and development will be served by the previously constructed park improvements.
C. 
In the event that bonds or similar debt instruments are, or have been, issued for the advance provision of park improvements, park impact fees may be used to pay debt service on such bonds or similar debt instruments to the extent that park improvements provided are consistent with the requirements of this chapter and are used to serve the new development.
D. 
No monies shall be expended from this fund without the prior approval of a majority of the city council.
(Ord. 307 § 13B(b), 1979; Ord. 383 § 1, 1980; Ord. 2-07 § 1, 2007)