§ 25-9-314. ACCOUNTS.

(A)

The director of the Financial and Administrative Services Department shall establish accounting controls to ensure compliance with Section 395.024 of the Local Government Code.

(B)

The director of the Financial and Administrative Services Department shall establish separate interest-bearing accounts for impact fees collected for water facilities and for impact fees collected for wastewater facilities.

(C)

Funds may be disbursed as reasonably necessary to carry out the purposes of this article; provided that a fee shall be expended within a reasonable period of time, not to exceed 10 years, from the date the fee is deposited into the account.

(D)

The director of the Financial and Administrative Services Department shall maintain records for each account that:

(1)

show the source and disbursement of fees;

(2)

the number of service units for which fees are received; and

(3)

ensure that refunds from each account are properly made.

Source: Section 13-3A-12; Ord. 990225-70; Ord. 031211-11.