The director of financial services shall establish a separate fund or account for each type of facility listed in Section 4.56.030. All impact fees collected by the city shall be deposited in the fund or account established for the specific type of facility for which the fee is collected. Any interest earned on funds deposited in a fund or account shall be deposited in that fund or account.

Funds deposited in those accounts shall be used only to pay for design and construction, including construction administration, of projects identified in resolutions or other formal city council action adopted pursuant to Section 4.56.030 as the basis for the impact fees, or for reimbursements as provided in Section 4.56.080. (Ord. 1663 § 4 (Exh. A (part)), 2019)