Skip to main content
Loading…
This section is included in your selections.

A. Water and sewer impact fees collected pursuant to this chapter shall be deposited in separate interest bearing accounts. Interest and principal from such accounts shall be expended only for existing and future system improvements of the type for which the fee is collected.

B. The City shall maintain financial records for each fund showing the source, amount, and date received of all moneys collected pursuant to this chapter. At the end of each fiscal year the City shall prepare a report identifying the source and amount of all moneys received and identifying all expenditures from each account. Such records shall be open for public inspection to the extent all other City financial records are public documents.

C. Impact fees collected under this chapter may be expended or encumbered immediately upon receipt, provided the action is reasonably calculated to meet known and anticipated demands for new system improvements or debt service payments, including payments on principal for existing system improvements. Fees expended or pledged pursuant to this subsection are not subject to refund pursuant to Section 13.25.080.

D. Impact fees shall be expended or encumbered within six years of receipt, unless the City Council identifies by resolution extraordinary and compelling reasons why such funds should be held longer than six years and specifies a date certain upon which such funds will be used.

E. Impact fees shall not be used for maintenance or operation expenses of system improvements.

F. Impact fees may be used for the construction, design and acquisition of new system improvements identified in a capital facilities plan or policy resolution. In addition, such fees may be expended to retire debt previously incurred to finance existing water and sewer system improvements. (Ord. 98-13 (part), 1998)