(A) The revenues from library facilities development fees collected within the service area and accrued interest on such revenues shall be used to finance project costs of qualifying library facilities improvements, as determined by the City Council, provided that the improvements are shown in the approved Infrastructure Improvements Plan as described in Vol. II, § 7-1-10 of this Chapter, and are located within the same service area.
(B) Qualifying library facilities improvements are limited to acquisition of library sites; library site development costs, including grading, utilities, landscaping, lighting, fencing, signage and construction of parking facilities; acquisition, construction and installation of library facilities and equipment; or other similar improvements, including the principal, interest and other financing costs of bonds, notes or other obligations issued by or on behalf of the city to finance qualified improvements. The revenues may also fund the cost of consultants used in updating the library facilities portion of the Capital Improvements Program and in updating the library facilities development fee computations.
(C) Monies collected as library facilities development fees shall not be used to pay for any of the following:
(1) Construction, acquisition or expansion of public facilities other than qualifying library facilities improvements;
(2) Retirement of debt incurred for library facilities constructed prior to March 1, 1997;
(3) Repair, operation, maintenance or replacement of existing library facilities or capital equipment; and
(4) City personnel and consultants hired for purposes other than those expressly permitted under divisions (A) and (B) above.
(Ord. 1521, passed 8-16-2022)