(A) All funds derived from a SDC are to be segregated by accounting practices from all other funds of the city. That portion of the SDC calculated and collected on account of a specific facility system shall be used for no purpose other than those set forth in § 34.07.
(B) (1) The City Manager shall provide the City Council with an annual accounting, based on the city’s fiscal year, for SDCs showing the total amount of SDC revenues collected for each type of facility and the projects funded from each account in the previous fiscal year.
(2) A list of the amounts spent on each project funded in whole or in part, with SDC revenues shall be included in the annual accounting.
(C) The moneys deposited into the SDC account shall be used solely as allowed by § 34.07, authorized expenditures of this chapter and as allowed by ORS 223.307, including, but not limited to:
(1) Design and construction plan preparation;
(2) Permitting and fees;
(3) Land and materials acquisition, including any cost of acquisition or condemnation;
(4) Construction of capital improvements;
(5) Design and construction of new water facilities required by the construction of capital improvements and structures;
(6) Relocating utilities required by the construction of improvements;
(7) Landscaping;
(8) Construction management and inspection;
(9) Surveys, soils and material testing;
(10) Acquisition of capital equipment;
(11) Repayment of moneys transferred or borrowed from any budgetary fund of the city which were used to fund any of the capital improvements as herein provided; and
(12) Payment of principal and interest, necessary reserves and cost of issuance under bonds or other indebtedness issued by the city to fund capital improvements.
(Ord. 1247, passed 3-6-2007)