§ 58-174. Deposit and expenditure of fees.

(a)

All development impact fee funds shall be maintained in one or more interest-bearing accounts. Restrictions on the investment of such funds shall be the same that apply to investment of all county funds generally.

(b)

Accounting records shall be maintained for each category of system improvements and the service area in which fees are collected.

(c)

Interest earned on development impact fees shall be considered funds of the account on which it is earned and shall be subject to all restrictions placed on the use of development impact fees under this article.

(d)

Expenditures of development impact fees shall be made only for the category of system improvements and in the service area for which the development impact fee was imposed as shown by the capital improvement element and as authorized by this article.

(e)

Development impact fees shall not be used to pay for any purpose that does not involve system improvements that create additional services available to serve new growth and development.

(f)

The county manager shall prepare an annual report describing the amount of any development impact fees collected, encumbered, and used during the preceding year by category of public facility and service area.

(94-RM-121, pt. 1, art. IX, §§ 1—6, 5-18-94)

State law reference

Deposit and expenditure of fee, O.C.G.A. § 36-71-8.