§ 8.5-62. Use of fire impact fee proceeds.

(a)

The council hereby establishes a separate trust account for the fire impact fees, to be designated as the "fire impact fee trust account," which shall be maintained separate and apart from all other accounts of the city.

(b)

All fire impact fees shall be deposited into such trust account immediately upon receipt.

(c)

The monies deposited into the fire impact fee trust account shall be used solely for the purpose of constructing or improving the city fire rescue system, including, but not limited to:

(1)

Design and construction plan preparation;

(2)

Permitting and fees;

(3)

Land acquisition, including any costs of acquisition or condemnation;

(4)

Construction and design of new fire and rescue facilities;

(5)

Design and construction of new drainage facilities required by the construction of improvements and additions to the city fire rescue system;

(6)

Relocating utilities required by the construction of improvements and additions to the city fire rescue system;

(7)

Landscaping;

(8)

Construction management and inspection;

(9)

Surveying, soils and materials testing;

(10)

Acquisition of apparatus or equipment utilized by the City in the suppression and prevention of fires, responses to medical emergencies or other disasters and the handling of incidents involving hazardous materials;

(11)

Repayment of monies transferred or borrowed from any budgetary fund of the city which were used to fund any growth impacted construction or improvements as herein defined;

(12)

Costs related to the administration, collection and implementation of the fire impact fee; and

(13)

Payment of principal and interest, necessary reserves and costs of issuance under any bonds or other indebtedness issued by the city to provide funds to construct or acquire growth necessitated capital improvements or additions as provided herein.

Funds on deposit in the fire impact fee trust account shall not be used for any expenditure that would be classified as a maintenance or repair expense.

(d)

The monies deposited into the fire impact fee trust account shall be used solely to provide improvements or additions to the city fire rescue system required to serve new growth as projected in the fire protection impact fee study adopted pursuant to section 8.5-24.

(e)

Any monies on deposit which are not immediately necessary for expenditure shall be invested by the city. All income derived from such investments shall be deposited in the fire impact fee trust account and used as provided herein.

(f)

The fire impact fees set forth above shall increase annually by the Consumer Price Index as determined by the U.S. Department of Labor for the South Eastern United States for all goods.

(Ord. No. 04-20, § 3.02, 7-27-04)