When a fee has been established pursuant to § 16.29.040 and collected pursuant to § 16.29.050, it shall be deposited in an account established solely for such fee. Each fee established shall be deposited in its own separate account. Funds shall be expended for the purposes for which the fee has been established, including the preparation of habitat conservation plans and the acquisition of habitat reserve sites. The city may enter into agreements with other public agencies and may transfer funds to such other public agencies to be expended for the purposes for which the fee has been established. Funds collected pursuant to § 16.29.050 may be expended on the preservation of threatened or endangered species outside the corporate boundaries of the City of Corona when to do so will provide a general benefit to the citizens of the City of Corona or will allow the development of property within the city boundaries which might otherwise not be permitted to develop.
(`78 Code, § 16.29.060.) (Ord. 1977 § 1 (part), 1990.)