Any and all fees collected pursuant to the provisions of this chapter may be utilized for the following purposes only by the city, acting by and through its City Council, which, for the purpose of this chapter is identified as the “infrastructure agency” contemplated by IC 36-7-4-1317:
(A) Providing funds to be utilized by the city for the purpose of paying the capital costs of new park and recreational infrastructure that is necessary to serve the new development within the corporate limits of the city and that is identified in the Zone Improvement Plan;
(B) An amount not to exceed 5% of the annual collections of the fee to be utilized for expenses incurred by the city for the consulting services used to establish this chapter;
(C) To pay any refund due pursuant to the terms of this chapter;
(D) To pay the debt service cost on an obligation issued to provide new park and recreational infrastructure described in division (A) above.
(Ord. 060392B, passed 7-1-92; Am. Ord. 091514A, passed 11-17-14)