§ 70-116. Trust funds; use of funds.

(a)

Trust funds. There are hereby established a district park and local park impact fee trust funds and are incorporated in this article by reference. Subsequent to the adoption of the ordinance from which this article is derived, should any parcel or area of land located within the unincorporated area of Volusia County be annexed into a municipality which, at the initial effective date of the ordinance from which this article is derived, was located within an adjacent unincorporated area of Volusia County, the boundaries of the municipality shall be deemed amended as of the date of annexation so as to include the land annexed within the municipality. Such amendment shall be for the purposes of this article only and shall not affect any prior payment of fees or expenditure of funds attributable to the annexed property.

(b)

Funds identified as district park impact fees shall be deposited into a single trust account with expenditures county-wide to support the stated level of service. Local park impact fee funds will be deposited into one of four specific trust funds according to the area where collected as identified in exhibit A following this article. Expenditures will be within these four zones unless a local park project would provide substantial benefit to other zones.

(c)

The county manager shall present to the county council the proposed capital improvement program of the capital improvement element of the comprehensive plan for district park and local park facilities, assigning funds, including any accrued interest, from the trust funds to specific improvements and related expenses. Monies, including any accrued interest, not assigned in any fiscal period shall be retained in the district park and local park impact fee trust funds until the next fiscal period except as provided by the refund provisions of this article. Funds shall be deemed expended in the order in which they are collected.

(d)

The county shall add three percent to the impact fee calculated for district and local parks. These funds will be retained in the general fund to offset the cost of administering this article.

(Ord. No. 90-1, § 106.00, 6-21-90; Ord. No. 01-17, § 5, 8-2-01)