A. Fees paid into the New Development Impact Fund which are not appropriated or disbursed within seven (7) years from the date of payment shall be returned to the payer, with all interest actually earned thereon, if a written request for return is filed with the City Treasurer during the seventh year after payment. The request for return shall be verified, and shall state the date of payment, the amount paid, the location of the new development for which the fee was paid, and that the party requesting return of the fee is the payer of the fee or the payer's assignee or successor.
B. The right to a return of fees may be assigned in writing. No assignment shall be valid unless the assignment is acknowledged before a notary public in the same manner as is required for the recording of documents affecting title to real property with the County Recorder. Any assignment shall be filed with the City Treasurer and may be recorded at the option of the signatories.
C. If a request for return of fees is not made within one year from the date a request for return may first be filed, then the right to have the fee returned shall terminate, and the fees and all interest earned thereon shall revert to the New Development Impact Fund.
('65 Code, § 33H-10) (Ord. No. 83-021 § 1; Ord. No. 96-007 § 1 (part))