§ 18-12. Trust funds; use of funds.

(a)

Trust funds. There are hereby established a separate transportation impact fee trust fund. Subsequent to the adoption of the ordinance from which this article is derived, should any parcel or area of land located within a zone be annexed into the city, the boundaries shall be deemed amended as of the date of annexation so as to include the land annexed within the zone of such municipality. Such amendment of zones shall be for the purposes of this article only and shall not affect any prior payment of fees or expenditure of funds attributable to the annexed property.

(b)

Use of funds; administrative fee.

(1)

Funds collected from transportation impact fees shall be used for the purpose of capital improvements to and expansion of transportation facilities associated with the thoroughfare system plan. Such improvements shall be of the type made necessary by new development. Final determination of projects to be funded using transportation impact fee revenues shall be made by the city council.

(2)

No funds shall be used for periodic or routine maintenance as defined in F.S. § 334.03.

(3)

Except as provided in subsection (5) of this subsection, funds shall be used exclusively for capital improvements or expansion within the municipal boundaries. Funds shall be deemed expended in the order in which they are collected.

(4)

The department of community development shall, each fiscal year, prepare a preliminary capital improvement road program to be funded from each transportation impact fee trust fund.

(5)

The city shall be entitled to collect and retain a three (3) percent administrative fee, which is in addition to the fee otherwise owed. This fee is collected to offset the costs of administering this article.

(Ord. No. 04-21, § 1, 7-27-04)