A. The trust fund established by each District will be maintained by the Districts for the purpose of ensuring that all Fire and EMS impact fees collected, pursuant to this chapter, are used to address impacts reasonably attributable to new development for which the Fire and EMS impact fees are paid. The trust fund shall be divided into the accounts. All funds in all accounts in the trust fund shall be maintained in an interest-bearing account. The interest earned on each account pursuant to I.C. § 67-8210(1) shall not be governed by IC § 57-127, as amended, but shall be considered funds of the account and shall be subject to the same restrictions on uses of collected impact fees on which the interest is generated.
B. Deposit of Fire and EMS impact fees. All monies paid by a fee payer, pursuant to this chapter, minus the administrative fee collected by the City, shall be identified as Fire or EMS impact fees and shall be promptly deposited by the City administrator in the appropriate account of the trust fund.
1. First-in/first-out. Monies in each account shall be spent in the order collected, on a first-in/first-out basis.
2. Maintenance of records. The Districts shall maintain and keep accurate financial records for each account that shall show the source and disbursement of all revenues, that shall account for all monies received, that shall ensure that the disbursement of funds from each account shall be used solely and exclusively for the provisions of projects specified in the capital improvements plan, and that shall provide an annual accounting for each Fire and EMS impact fee account showing the source and amount of all funds collected and the projects that were funded. (Ord. 637, 8-23-2022)