a.   Use of Land and Fees. All land or fees, or both, collected pursuant to this division and transferred to a school district shall be used only for the purpose of providing interim elementary or high school classroom and related facilities, including all mandated educational programs.

   b.   Agreement for Fee Distribution. Where two (2) separate school districts operate schools in an attendance area where the Town Council concurs that overcrowding conditions exist for both school districts, the Town Council will enter into an agreement with the governing body of each school district for the purpose of determining the distribution of revenues from the fees levied pursuant to this Article.

   c.   Fee Fund and Land Records and Reports. Any school district receiving funds or land pursuant to this Article shall maintain a separate account for any fees paid and disposition of land received and shall file a report with the board on the balance in the account at the end of the previous fiscal year and the facilities leased, purchased, or constructed during the previous fiscal year. In addition, the report shall specify which attendance areas will continue to be overcrowded when the fall term begins and where conditions of overcrowding will no longer exist. Such report shall be filed by August 1st of each year and shall be filed more frequently at the request of the Town Council.

   d.   Termination of Dedication Requirements. When it is determined that overcrowding conditions no longer exist in an attendance area, the County shall cease levying any fee or requiring the dedication of any land pursuant to this Article for the area.