1/22/1986 (2) - Laserfiche WebLink

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J.A-N 2 2 1986 800!( 63 r,{u 452 for the accomodation 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 nine (9) separate trust accounts, one for each District as shown on Exhibit W, which is attached hereto and incorporated herein by reference. C. Payment of Fair Share Fees into Trust Accounts "Fair Share Roadway Improvement Fees" collected pursuant to this ordinance shall be paid into the trust accounts established for the District in which the new land development activity is proposed. D. Expenditure of Fair Share Fees in Trust Accounts (1) Proceeds from the trust accounts shall be used exclusively for capital expansion of the County's major road network system in the District from which the monies have come, and in a manner consistent with the Indian River County Comprehensive Plan, except 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-31%; District II -19%; District III -8%; District IV -9%; District V-10%; District VI -4%; District VII -4%; District VIII -10%; District IX -5%. (2) 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 ac- count. - (3) 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 - 23 - _ M M