There is hereby established and created a fund of the city entitled "Parks and Recreation Impact Fund" and all revenues derived from and all monies collected as a park and recreation mitigation fee, including accrued interest thereon, shall be deposited in such fund. The Parks and Recreation Impact Fund is established for the sole purpose of providing monies for the acquisition, construction, and reconstruction of parkland, playgrounds, community facilities, recreation facilities and equipment, and other capital purposes needed for providing parks and recreation services. The Parks and Recreation Impact Fund shall be administered in accordance with Cal. Gov't Code §§ 66000 et seq., including specifically §§ 66001(c) through (e).
(Ord. 2022-364, passed 11-16-2022)