A. Park impact fee accounts are hereby established for the purpose of depositing and maintaining the funds received under this chapter and any previously collected park impact fees paid pursuant to SEPA or other authority. Separate park impact fee accounts shall be maintained for regional park and recreation facilities and for local park and recreation facilities.

B. The city finance department shall earmark all funds collected under this chapter and under such previous collections as to the person paying, the date paid, and the development or property for which paid. The account shall be separate from all other accounts of the city and shall be interest-bearing. All interest shall be retained in the account and expended for the purposes for which the impact fee was imposed. (Ord. 005/2019 § 8)