The fees paid pursuant to this subchapter shall be segregated and held in trust by the town in its Recreation Trust Fund. The town shall maintain records of monies collected adequate to determine the amount contributed to the fund from each particular development. The funds collected from any development shall be used only to acquire, construct or provide recreational improvements or facilities needed or anticipated to be needed by the residents of the particular development. The town shall maintain records of all funds expended and the purposes for which they were expended
(Ord. 2001-08, passed 11-27-2001)