(A) Development fees shall be expended only for the type of capital improvement for which they were imposed, calculated, and collected and shall be expended or committed in accordance with the time limits and procedures established in this article. Development fees may be used to pay the principal sum and interest and other finance costs on bonds, notes or other obligations issued by or on behalf of the city to finance such capital improvements.
(B) Development fees shall not be expended to maintain, repair or operate capital improvements.
(`64 Code, Sec. 27-88.10) (Ord. No. 2258, 2979)