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- CODE OF ORDINANCES Title X. - IMPACT FEES CHAPTER 1010. TRAFFIC FACILITIES AND FAIR SHARE ROADWAY IMPROVEMENTS Section 1010.05. Use of funds collected and trust funds. (1) Intent. Any "fair share roadway improvement fees" collected pursuant to the terms of this article are expressly designated for accommodation of impacts reasonably attributable to the proposed land development activity generating traffic as hereinafter provided in this section. (2) There is hereby established the "fair share roadway improvements trust fund" (trust fund) for the purpose of ensuring that the fees collected pursuant to this chapter are designated for the accommodation of impacts reasonably attributable to the proposed land development activity generating traffic and are consistent with the Indian River County Comprehensive Plan. The trust fund shall be divided into three (3) separate trust accounts, one (1) for each district as shown on the current impact fee benefit district map which is attached hereto and incorporated herein by reference. Impact fees collected and deposited into the original nine (9) trust accounts prior to the effective date of this ordinance shall be expended in the original district in which they were collected until all funds within said districts have been expended according to the provisions of this ordinance. The original impact fee district boundaries are shown on the interim impact fee benefit district map which is attached hereto and incorporated herein by reference. (3) "Fair share roadway improvement fees" collected pursuant to this chapter shall be paid into the trust accounts established for the district in which the new land development activity is proposed. (4) Expenditure of fair share fees in trust accounts. (A) Proceeds from the trust accounts shall be used exclusively for capital expansion of the county's major road network system as identified on the county's and/or other municipalities' thoroughfare plan maps, in the district from which the monies have come, and in a manner consistent with the Indian River County Comprehensive Plan except that, until the trust fund accounts of the nine (9) original benefit districts have been expended, the following percent of proceeds from the nine (9) trust accounts may be used outside the district boundaries for capacity expansion of bridge facilities and their access roads connecting Orchid Island and the mainland: District I—thirty-one (31) percent; District II—nineteen (19) percent; District III—eight (8) percent; District IV—nine (9) percent; District V—ten (10) percent; District VI—four (4) percent; District VII—four (4) percent; District VIII—ten (10) percent; and District IX—five (5) percent. (B) Any funds in each of the trust accounts on deposit, not immediately necessary for expenditure, shall be invested in interest-bearing assets. All income derived from these investments shall be retained in the applicable trust account. (C) Each year, at the time the annual county budget is reviewed, the county administrator or his designee shall propose appropriations to be spent from the trust accounts. Any amounts not appropriated from the trust accounts by the county administrator or his designee, together with any interest earning shall be carried over in the specific trust account to the following fiscal period. beard'sNetwith6tanding any otheF provision of this Gede, and based upon the and unique G*FGUFn6tanGes exi6t, a one time refund shall be Fnade of Gertain tFaffiG 4FnpaGt plus aGGumuiated interest on sunh fees, GolleGted and paid 'Rte the original tFaffiG 'FnpaGt fee DistriGt 11 trust aGGeunt ("DiStFiGt 11 AGc;GURV). The total amount eligible for Fefund shall be the totc-4 amount held On the D*6tr*Gt 11 AGGGunt a6 of FebruaFy 2i, 2012, whiGh amount is one million, one hundred fifteen thou6and, sax hundFed ninety 6ix dollaFs and 6iXty-6even Gents ($1,115,696.67-) „ Fefund „ ). The refund 6hall be Fnade in aGGGFdanGe with the following PFGGeduFe� (a) StartiRq with the last mn;paGt fee paid intn_ thim Dws;tr*Gt 11 AGGGURt, and MQViRg baGkward an time, staff shall eaGh *FnpaGt fee whiGh was paid Onto the aGGOUnt, and (ii) Ga!Gulate 6imple & nteFe6t an SUGh fee fFem the date of payment ef the fee until FebruaFy 21, 2012, at the Fate of Updates are shown with StFoke thFOU and underlines. Strike -through wording will be deleted from the ordinance underlined wording will be added. Indian River County, Florida, Code of Ordinances Page 34