§ 98-514. Use of proceeds of impact fee accounts.

(a)

The impact fees collected pursuant to this article may be used to finance or to recoup capital construction costs of service. Impact fees may also be used to pay the principal sum and interest and other finance costs on bonds, notes or other obligations issued by or on behalf of the city to finance such capital improvements or facilities expansions.

(b)

Impact fees collected pursuant to this article shall not be used to pay for any of the following expenses:

(1)

Construction, acquisition or expansion of capital improvements or assets other than those identified for the appropriate utility in the capital improvement plans;

(2)

Repair, operation, or maintenance of existing or new capital improvements or facilities expansions;

(3)

Upgrading, expanding or replacing existing capital improvements to serve existing development in order to meet stricter safety, efficiency, environmental or regulatory standards;

(4)

Upgrading, expanding or replacing existing capital improvements to provide better service to existing development; provided however, that impact fees may be used to pay the costs of upgrading, expanding or replacing existing capital improvements in order to meet the need for new capital improvements generated by new development; or

(5)

Administrative and operating costs of the city.

(Ord. No. O-2002-011-16, § 1, 3-26-02)