A. Impact fees collected pursuant to this chapter shall be deposited in a transportation impact fee fund and shall be earmarked and utilized exclusively for system improvements.

B. Impact fees shall be expended or encumbered within ten years of receipt, unless the city council identifies in written findings extraordinary and compelling reasons for the city to hold the fees beyond the ten-year period. Under such circumstances, the city council shall establish the period of time within which the impact fees shall be expended or encumbered. (Ord. 005/2019 § 9)