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Establishment of Accounts. <br />The Trust Fund shall be divided into three (3) Accounts: a Municipal Capital <br />Facilities Account, a Police Capital Facilities Account, and a Transportation Capital <br />Facilities Account. <br /> <br />o <br /> <br />Deposit and Management of Accounts and Trust Fund. <br /> <br />Managed in Conformance with CRS [ 29-1-801 et. seq. <br />The Impact Fee Trust Fund and the three (3) Accounts shall be maintained as an <br />interest bearing account and shall be managed in conformance with CRS ~ 29-1-801 <br />et. seq. <br /> <br />Immediate Deposit of Fees in Appropriate Account in Trust Fund. <br />All Impact Fees collected by the City pursuant to this Chapter shall be promptly <br />deposited into the appropriate Account in the Trust Fund. The Municipal Fees shall <br />be deposited into the Municipal Capital Facilities Account. The Police Fees shall be <br />deposited into the Police Capital Facilities Account. The Transportation Fees shall <br />be deposited into the Transportation Capital Facilities Account. <br /> <br />Interest Earned on Trust Account Monies. <br />Any proceeds in the Trust Fund Accounts not immediately necessary for <br />expenditure shall be invested in an interest-bearing account. Interest earned on <br />monies in the Accounts shall be considered part of such Account, and shall be <br />subject to the same resu:icfions on use applicable to the Impact Fees deposited in <br />such Account. <br /> <br />Income Derived Retained in Trust Fund until Spent. <br />All income derived from these investments shall be retained in the Accounts until <br />spent pursuant to the requirements of this Chapter. <br /> <br />Expenditure of Fees. <br />Monies in each Trust Account shall be considered to be spent in the order <br />collected, on a £~rst-in/first-out basis. <br /> <br />Record of Trust Fund Available for Public Inspection. <br />A record of the Trust Fund accounts shall be available for public inspection in the <br />City Manager or designee's office, during normal business hours. <br /> <br />Sec. 3.18.070 Expenditure of Impact Fees. <br /> A. Municipal Capital Facilities Fee. <br /> <br /> The monies collected from the Municipal Fee shall be used only to acquire and construct <br /> Municipal Capital Facilities within the City. <br /> <br /> B. Police Capital Facilities Fee. <br /> <br /> The monies collected from the Police Fee shall be used only to acquire or construct Police <br /> Capital Facilities within the City. <br /> <br /> C. Transportation Capital Facilities Fee. <br /> <br /> The monies collected from the Transportation Fee shall be used only to acquire or construct <br /> Transportation Capital Facilities on the City's Road System. <br /> <br /> D. No monies Spent for Routine Maintenance, Rehabilitation or Replacement <br /> of Capital Facilities. <br /> <br />14 <br /> <br /> <br />