13.21.050 Disposition of development fees.
A. Pursuant to Government Code Section 66006, there is established separate reserve accounts within the sewer and water enterprise accounts. Any fee paid pursuant to the provisions of this chapter shall be placed into the reserve account established for such fees and used solely for the purpose of implementation of the applicable public purpose for which the reserve account was established. All monies in the reserve account shall be credited to that account.
B. All monies and interest in the reserve account established by this chapter shall be expended on the implementation of the applicable public purpose for which the fee was established, in the following order of priority:
1. The reimbursement to the city of Wasco for all direct and indirect costs incurred by the city for such implementation pursuant to this chapter, including but not limited to, the costs of right-of-way acquisition, planning, legal advice, engineering, design, construction and equipment, as well as the actual cost of construction of the subject improvements.
2. The city shall use the balance of the funds so deposited into these special accounts (along with interest earnings thereon) for the costs of additional, future public facilities as specified in this chapter and only for the category of improvements for which the funds were deposited in that particular account.
C. If a fee paid by an owner or developer for a particular development has been retained by the city for five or more years, and city has not committed that fee to costs for public facilities, then the city council shall make findings describing the continuing need to retain the fee each fiscal year thereafter. If the city council does not make such findings, then the city shall refund the collected fees as appropriate, along with the interest, if any, which those funds have generated since they were collected. (Ord. 493 §1 (Exh. A), 2004).