§ 38-106. Establishment of accounts; use of proceeds and other financing mechanisms.

(a)

The city's finance department shall establish an account to which interest is allocated for each service area for which a water or wastewater impact fee is imposed pursuant to this division. Each impact fee collected within the service area shall be deposited in such account. Limitations on use of interest attributable to water and wastewater impact fee accounts, disbursement limitations, and recordkeeping for such accounts shall be the same as those for roadway impact fees, as set forth in section 38-234.

(b)

The use of water and wastewater impact fees and the limitations on the use of such fees shall be the same as those for roadway impact fees, as set forth in section 38-233.

(c)

The city may finance water and wastewater improvements designated in the water or wastewater improvements or facility expansions designated in the respective capital improvements plan through any authorized mechanism, in such manner and subject to such limitations as may be provided by law, in addition to the use of impact fees. Except as otherwise provided in this division, the assessment and collection of a water or wastewater impact fee shall be additional and supplemental to, and not in substitution of, any other tax, fee, charge or assessment which is lawfully imposed on and due against the property. The city council may decide that the city shall pay all or a part of water or wastewater impact fees due for a new development pursuant to duly adopted criteria.

(Code 1982, § 24-55; Ord. No. 90-22, § 2, 7-16-1990; Ord. No. 08-26, § 7(exh. 5), 6-2-2008)