§ 10.32.13. Special revenue fund.

There is hereby created a special revenue fund called the fair share fund. Fair share payments made pursuant to this chapter shall be appropriated into the fund. The fair share payments may be utilized, along with other legally available funds, for the funding of the scheduled improvements which when completed will provide water or wastewater improvements which will be adequate to serve the proposed development. The monies in the fund may be pooled and expended on other scheduled water or wastewater improvements which are located within the same sector and which, when completed, will positively impact the applicable water or wastewater facility in accord with the requirements of this chapter in order to maximize funds and expedite construction, but only upon separate approval of each project by the city council.

In the event a scheduled improvement is deleted, then the fair share funds collected towards its construction may be applied towards the construction of other water or wastewater improvements in the comprehensive plan located within the same sector and which when completed will provide water or wastewater improvements which will be adequate to serve the proposed development.

( Ord. No. 2006-40, § 13 )