(A) All funds derived from a particular type of system development charge are to be segregated by accounting practices from all other funds of the city. That portion of the system development charge calculated and collected on account of a specific facility system shall be used for no purpose other than that set forth in § 31.34.
(B) The City Recorder shall provide the City Council with an annual accounting, by January 1 of each year, for system development charges showing the total amount of system development charge revenue collected for each type of facility and the projects funded from each account in the previous fiscal year. A list of the amount spent on each project funded, in whole or in part, with system development charge revenue shall be included in the annual accounting.
(Ord. 2021-02, passed 3-22-2021)