§ 5-309. Accounting and expenditure of fees.

(a)

Fees collected under this article shall be deposited in a non-lapsing trust fund established and maintained by the city.

(b)

Fees deposited shall be expended within a reasonable period of time for the purposes of acquiring and developing those park facilities necessary to meet the needs of the contributing developments.

(c)

Fees deposited may be expended for acquisition of new parks or park improvements in accordance with the adopted parks master plan.

(d)

The city council shall establish a program for the acquisition and development of parks based on the level of service standards adopted in the city comprehensive plan. The annual budget and capital program of the city shall provide for appropriations of funds as may be necessary to acquire and develop such parks.

(e)

Any funds necessary to acquire or develop lands to meet the existing need for such parks must be provided from a source of revenue other than from the amounts deposited in the trust fund.

(Ord. No. 85-4, § 1, 3-26-85; Ord. No. 91-14, § 1, 9-11-91)