§ 7B-5. Creation of special funds.

Each fee collected pursuant to this chapter shall be deposited in a special fund created to hold the revenue generated by each such fee. Monies within each such fund may be expended only by appropriation by the city council for specific projects which are of the same category as that for which the money was collected. In this regard, the following special funds are hereby created and established for the purpose indicated:

(a)

A street and thoroughfare fund is hereby established. The street and thoroughfare fund is a fund for payment of the actual or estimated costs of constructing and improving streets and thoroughfares.

(b)

A drainage facilities fund is hereby established. The drainage facilities fund is a fund for payment of the actual and estimated costs of constructing and improving the drainage facilities within the city, including any required acquisition of land.

(c)

A wastewater treatment facilities fund is hereby established. The wastewater treatment facilities fund is a fund for payment of the actual and estimated costs of constructing and improving the sewage treatment facilities within the city, including any required acquisition of land.

(d)

A wastewater collection and connection fund is hereby established. The wastewater collection facilities fund is a fund for payment of the actual and estimated costs of constructing and improving the wastewater collection facilities within the city, including any required acquisition of land.

(e)

A water collection and connection fund is hereby established. The water facilities fund is a fund for payment of the actual and estimated costs of acquiring facilities and equipment to pump and deliver potable water, including any required acquisition of land.

(f)

A park and recreation facilities fund is hereby established. The park and recreation facilities fund is a fund for payment of the actual and estimated costs of acquiring equipment, and constructing and improving the park and recreation facilities within the city, including any required acquisition of land, as well as grading, irrigation and turfing costs associated herein.

(g)

A capital facilities fund is hereby established. The capital facilities fund is a fund for payment of the actual or estimated costs of law enforcement facilities and equipment, fire facilities and equipment, the renovation of city hall, the construction of a new public works building, construction of a new community center and moving of the corporation yard facilities.

(Ord. No. 406, § 1.)

(Ord. No. 467, § 2, 6-21-2011)