A. Separate accounts. Development impact fees collected pursuant to this article shall be placed in separate, interest-bearing accounts for each capital facility category within each service area.
B. Limitations on use of fees. Development impact fees and any interest on them collected pursuant to this article shall be spent to provide capital facilities associated with the same category of necessary public services in the same service area for which they were collected, including costs of financing or debt used by the city to finance those capital facilities and other costs authorized by this article that are included in the infrastructure improvements plan.
C. Time limit. Development impact fees collected after July 31, 2014 shall be used within ten (10) years of the date upon which they were collected for all categories of necessary public services.
(Ord. No. 11203, § 1, 10-9-14, eff. 12-23-14)