(A) All impact fees collected shall be deposited in interest bearing accounts clearly identifying the category of capital improvements or facility expansions within the service area for which the fee is adopted.
(B) Interest earned shall be credited to the account and shall be subject to the same restrictions on expenditures as the funds generating such interest.
(C) Impact fees and the interest earned thereon may be spent only for the purposes for which the fees were imposed as shown in the capital improvements plan.
(D) The records of the accounts into which impact fees are deposited shall be open for public inspection and copying during ordinary business hours.
(2005 Code, § 7-1-9) (Ord. 900904, passed 9-4-1990)