All fees collected by virtue of this article after the effective date of this ordinance and any interest earned on them shall be deposited in special and separate trust accounts to be designated, "transportation impact fees account," "general government impact fees account," and "parks impact fees account," respectively. Funds from these accounts shall be expended for transportation capital improvements, general government capital improvement, and park capital improvements, respectively. Separate police and general government accounts for funds collected prior to the effective date of this ordinance shall be retained and those funds shall be spent on the types of capital improvements for which they were collected until the remaining balances have been spent.

In addition to the foregoing, funds from these accounts may be expended for retirement of loans and/or bonds that may be issued to finance the capital improvements herein contemplated. Furthermore, these funds may be expended for architectural, engineering, legal and other professional fees and expenses related to capital improvements. However, the city shall not expend funds from any of these accounts for maintenance, repairs, salaries, or other noncapital or noncapital-related items. Each and every expenditure of funds from these accounts shall be authorized by the impact fee administrator.

(Ord. No. 3588, § 1, 10-3-2011; Ord. No. 5128, § 3(Exh. A), 10-23-2024)