§ 23-118. Use of funds.

(a)

Funds collected from parks impact fees shall be used solely for the purposes of acquiring and/or making capital improvements to parks under the jurisdiction of the county, a municipality within the county which has not opted out from the provisions of this division, or the state, and shall not be used for maintenance or operations.

(b)

Funds shall be used exclusively for acquisitions, expansions, or capital improvements within the parks impact fee district as identified in Appendix I hereof from which the funds were collected or for projects in other parks impact fee districts which are of benefit to the parks impact district from which the funds were collected. Funds shall be expended in the order in which they are collected.

(c)

In the event that bonds or similar debt instruments are issued for advanced provision of capital facilities for which parks impact fees may be expended, impact fees may be used to pay debt service on such bonds or similar debt instruments to the extent that the facilities provided are of the type described in paragraph (a) above and are located within the appropriate impact fee districts created by section 23-116 of this division or as provided in paragraph (b) of this section.

(d)

At least once each fiscal period the county administrator shall present to the board of county commissioners a proposed capital improvement program for parks, assigning funds, including any accrued interest, from the several parks impact fee trust funds to specific park improvement projects and related expenses. Monies, including any accrued interest, not assigned in any fiscal period shall be retained in the same parks impact fee trust funds until the next fiscal period, except as provided by the refund provisions of this division.

(e)

Funds may be used to provide refunds as described in section 23-119.

(f)

The collecting governmental entity shall be entitled to retain not more than three (3) percent of the funds collected as compensation for the expense of collecting the fee and administering this division.

(Ord. No. 86-28, § 10, 10-28-86; Ord. No. 93-5, § 10, 3-25-93; Ord. No. 96-14, § 10, 7-16-96; Ord. No. 97-14, § 10, 7-7-97; Ord. No. 01-19, § 10, 10-23-01)

Editor's note

See editor's note, § 23-116.