(a) Upon approval of the final plat, or any new street developed in a subdivision by a private developer and dedicated to the City, the owner/developer shall pay the sum of four dollars ($4.00) per linear foot of street frontage and linear footage around all islands to the City. This sum shall be deposited into the "Tree Fund."
(b) This Tree Fund shall be used for the purpose of planting approved trees in tree lawns and for accessory materials to be utilized in the planting of such trees. Interest earned on the investment of said funds shall be deposited in the Tree Fund. Said interest and all surplus funds from planting shall be used for the maintenance, removal and protection of trees planted from Tree Fund monies.
(c) Said Tree Fund shall be established as a special revenue fund and shall be maintained in accordance with regulations of the Auditor of State and will be administered solely by the City Finance Director.
(d) Approved trees shall be those trees authorized by the City Trees and Decorations Committee. (Ord. 19-011. Passed 4-22-19.)