(a) Local Transportation Facilities Fund.
(1) Transportation facilities fees required in compliance with this Chapter, within the boundaries of a Local Area Transportation Facilities Plan, shall be deposited into a Local Transportation Facilities Fund.
(2) A separate fund shall be established for each Local Area Transportation Facilities Plan and fees collected within the boundaries of the plan shall be deposited into the applicable fund.
(3) Any interest income earned by money in the fund shall also be deposited in the fund.
(4) The fees shall cease to be required within the boundaries of a Local Area Transportation Facilities Plan when they have been collected in an amount adequate to pay for all of the transportation facilities proposed in the plan.
(b) Use of Funds. Monies in a Transportation Facilities Fund shall be expended solely for the construction, financing, or purchase of transportation facilities within the boundaries of the Local Area Transportation Facilities Plan from which the fees comprising the fund were collected, and/or to reimburse the County for the cost of engineering, property acquisition, and administrative services required to construct, design, finance, or purchase facilities in the Local Area Transportation Facilities Plan.
(c) Monies Advanced by the County. Monies may be advanced by the County to construct, design, finance, or purchase transportation facilities, or related administrative services, and to acquire necessary property or rights-of-way within the boundaries of an adopted Local Area Transportation Facilities Plan. Money so advanced shall be reimbursed to the County from the applicable Local Transportation Facilities Fund.
(Ord. 4011, passed - -2007)