Laserfiche WebLink
<br />b. the applicant has been determined to be not subject to the payment of a impact <br />fee; or <br /> <br />c. the applicant has filed an appeal and a letter of credit performance bond in the <br />amount of the impact fee, as calculated by the Building Official or designee, <br />has been posted with the City. Such irr-evocable letter of cf'8dit performance <br />bond must first be approved by the City Attorney. <br /> <br />2. The Building Official shall collect an impact fee at the time of issuance of a building <br />permit even if impact fees were paid by the applicant at an earlier time in the <br />development permit or approval process, including at the time of application for a <br />building permit, if the amount of the impact fees has increased since such prior <br />approval. The applicant shall only be liable for the difference between the impact fees <br />paid earlier and those in effect at the time of issuance of the subsequent building <br />permit. <br /> <br />Section 4: <br /> <br />Establishment Of Impact Fee Accounts; Appropriation Of Impact Fee Funds <br />Refunds. <br /> <br />A. Impact Fee Accounts. An impact fee account shall be established by the Commission for <br />each category of public facilities for which impact fees are imposed. Such account shall clearly <br />identify the category, account, or fund for which the impact fee has been imposed. Subaccounts <br />may be established for individual impact fee districts. All impact fees collected by the City shall <br />be deposited into the appropriate impact fee account or subaccount, which shall be interest <br />bearing. All interest earned on monies deposited to such account shall be credited to and shall be <br />considered funds of the account. The funds of each such account shall be capable of being <br />accounted for separately from all other City funds, over time. The City shall establish and <br />implement necessary accounting controls to ensure that the impact fee funds are properly <br />deposited, accounted for, and appropriated in accordance with this Ordinance, and any other <br />applicable legal requirements. <br /> <br />B . Appropriation of Impact Fee Funds. <br /> <br />1 In General. impact fee funds may be appropriated for public facilities, for public <br />facility expenditures, and for the payment of principal, interest and other financing <br />costs on contracts, bonds, notes or other obligations issued by or on behalf of the City <br />to finance such public facilities and public facility expenditures. All appropriations <br />from impact fee accounts shall be detailed on a form filed within the Finance <br />Department. <br /> <br />2. Restrictions on Appropriations. impact fees shall be appropriated only for the <br />particular category of public facilities for which they were imposed, calculated and <br />collected. Impact fees shall not be appropriated for funding any expenditure that <br />would be classified in an accounting as a maintenance or repair expense or for <br /> <br />Municipal Facilities Impact Fee Ord <br />LegislativelOrdinancesJ Attorney <br />7/18/01 -- 11 :45 AM <br /> <br />10 <br />