(A) The funds collected pursuant to this subchapter shall be used solely for the purpose of acquisition, expansion, and development of the public facilities both past and future determined to be needed to serve new growth and development, including but not limited to:
(1) Design and construction plan preparation;
(2) Right-of-way and easement acquisition;
(3) Construction of through lanes and turn lanes;
(4) Construction of bridges;
(5) Construction of drainage facilities in conjunction with roadway construction;
(6) Purchase and installation of traffic signalization;
(7) Construction of curbs, sidewalks, medians, and shoulders.
(8) Construction of water mains, storage tanks, and appurtenances; and
(B) Each of the road and water impact fees collected by the village shall be kept in individual funds and separate from other funds of the village.
(C) A Road Impact Fee Fund shall be established to ensure that the fees collected pursuant to this subchapter are appropriately earmarked and spent for the capital expansion of the village's road system in the Impact Fee Use Districts established in § 35.091.
(D) The fees collected for the water system and past fees collected for the sewer system under prior versions of this subchapter shall be placed in the Village Water Account to reimburse said account for past expenditures on the water infrastructure including the distribution lines and water reservoir(s).
(E) Any funds in each of the accounts on deposit not immediately necessary for expenditure shall be invested in interest bearing accounts. All income derived from these investments shall be retained in the appropriate trust account.
(F) Funds withdrawn from these accounts must be used solely in accordance with the provisions of this section.
(Ord. 5-97, passed 1-7-1997; Ord. 17-2017, passed 2-21-2017)