(A) The city shall establish an impact fee account into which all impact fees are deposited with three-fifths of the impact fee to be used by the city, one-fifth to be donated to the school districts serving the city, one-tenth to the Bradford-Anderson-Oglesby Public Library and one-tenth to the Markham Park District.
(B) Each impact fee account shall be interest-bearing and the accumulated interest shall become a part of the account.
(C) The funds of each impact fee account shall be expended as indicated above.
(Prior Code, § 150.61) (Ord. 06-O-1870, passed 8-2-2006; Ord. 07-O-1881, passed 1-17-2007)