Laserfiche WebLink
L <br />charges required of consumers and/or such other matters which may <br />reasonably bear upon the needs, necessities or consideration <br />requiring such change. <br />E. Use of proceeds. The proceeds accumulated by reason <br />of the establishment of the impact fees can be used only for <br />capital expenditures for the expansion of the County's water <br />system or wastewater treatment system. The funds may be used for <br />extending, oversizing, separating or constructing new additions to <br />the treatment plant or collection and interceptor systems of the <br />water and wastewater systems so as to meet the increased demand <br />which additional connections to the system create. Said proceeds <br />may not be used for improving, updating or bringing the present <br />system into compliance with any change in law or other events <br />which would otherwise require such improving, updating or bringing <br />the present system into compliance. <br />i F. Trust fund established. There are hereby estab- <br />lished two (2) trust funds, one designated as (A) Impact Fee,Trust <br />Fund for the Expansion of the Indian River County Water System, <br />and the second one designated as (B) Impact Fee Trust Fund for the <br />Expansion of the Indian River County Sewerage System. <br />All impact fees paid to the County shall be <br />deposited in the appropriate trust fund to be held in separate <br />accounts and used only for the purposes of the expansion of the <br />respective County systems. Funds may be disbursed from these <br />accounts in a customary manner in accordance with appropriate law <br />with the added requirement that the disbursal of such funds shall <br />require approval of the County Administration and Utility <br />Director. Any funds on deposit in said trust funds which are not <br />immediately necessary for the expansion of the respective systems <br />may be invested in the manner provided by law for the investment <br />of surplus County funds. All interest earned on invested funds in <br />the respective trust funds shall bear the same restrictions on <br />expenditure as those funds which created the interest. <br />All of the preceding notwithstanding, none of such <br />funds deposited in the respective trust fund shall ever be <br />expended by Indian River County in a manner that is contrary to <br />-13- <br />