A. Funds collected from transportation impact fees shall be used for the purpose of capital improvements to and expansion of planned transportation facilities as designated by the city and any other transportation projects related to growth that may be determined from time to time by the City Council.
B. No funds shall be used for periodic or routine maintenance.
C. In the event that bonds or similar debt instruments are issued for advance provision of planned transportation facilities for which transportation impact fees may be expended, impact fees may be used to pay debt service on such bonds or similar debt instruments to the extent that the facilities provided are of the type described in division A. of this section.
D. At least once each fiscal year, the city engineer shall present to the City Council a proposed capital improvement program for planned transportation facilities, assigning funds, including any accrued interest, from the transportation impact fee to specific road improvement projects and related expenses. Monies, including any accrued interest, not assigned in any fiscal year shall be retained in the transportation impact fee fund until the next fiscal year except as provided by the refund provisions of this chapter.
E. Funds may be used to provide refunds as described in Section 16.44.130.
F. The city shall be entitled to retain not more than five percent of the funds collected as compensation for the expense of collecting the fee and administering this chapter. (Ord. 2017-01 (part), 2017: Ord. 2008-14, 2008; prior code § 9515)