A. Cash Contribution: The municipality shall require a cash contribution to the library board by a residential subdivider or planned unit developer based on the City of Sycamore Consolidated Fee Schedule
B. Use Of Funds Collected: The funds collected pursuant to this section shall be used only for: 1) the purchase of real estate or structures for use as a library or library facility for citizens in the Sycamore library district; 2) the construction of new buildings for use as a library or library facility for citizens in the Sycamore library district; or 3) the modification of existing library buildings or library facilities for citizens in the Sycamore library district. No other use shall be made of the funds so collected. The library board shall conduct an annual audit, pursuant to accepted accounting practices, of the funds collected and spent under this section and publish the audit in a paper of general circulation in the city. Failure to publish shall not invalidate this section or diminish the right to collect or hold funds.
C. Time Of Payment: The cash contribution required by this section shall be payable directly to the library board when the city approves such subdivision or planned unit development. The applicant shall deliver a check payable to the library board at 103 East State Street, Sycamore, IL 60178, which shall issue a receipt as evidence of payment. No building permit shall be issued for any improvements to be constructed on any lands affected by this section unless a copy of such receipt is submitted with the application. Issuance of the building permit without such payment shall not be construed as a waiver. (Ord. 2001.80, 4-1-2002; amd. Ord. 2016.22, 8-15-2016; Ord. 2023.04, 5-1-2023)