The city may issue bonds, revenue certificates and other obligations of indebtedness in such manner and subject to such limitations as may be provided by law in furtherance of the provision of capital improvement projects. Funds pledged toward retirement of bonds, revenue certificates or other obligations of indebtedness for such projects may include the fees and taxes herein imposed and impact fees and other city revenues as may be allocated by the Board of Mayor and Aldermen. Impact fees paid pursuant to this chapter, however, shall be restricted to use solely and exclusively for financing directly, or as a pledge against bonds, revenue certificates and other obligations of indebtedness for the cost of capital improvements, as specified herein.
(2011 Code, § 5-510) (Ord. 15-04, passed 12-21-2015; Ord. 19-11A, passed 4-15-2019)