(A) Establishment of fund. The Director of Finance shall establish an account to be known as the Development Road Improvement Fund. All receipts from building excise taxes shall be deposited in the Development Road Improvement Fund. Interest earned by money in the Development Road Improvement Fund shall accrue to the Development Road Improvement Fund.
(B) Use of Development Road Improvement Fund. Funds from the Development Road Improvement Fund shall be expended only to pay for capital projects or indebtedness incurred for capital projects for additional or expanded public road facilities.
(C) County match. Before the county may expend funds from the Development Road Improvement Fund, the county must match at least the same amount of funds for capital projects for additional or expanded public road facilities.
(D) State highway match. Before the county may expend funds from the Development Road Improvement Fund for a road project on a state highway, at least the same amount of funds must be obtained from other sources for a capital project for additional or expanded public road facilities on the same road project on the state highway that is within Frederick County.
(Ord. 01-22-296, 12-18-2001; Ord. 07-02-442, 1-16-2007; Ord. 14-23-678, 11-13-2014)