A. All funds derived from a particular type of system development charge are to be segregated from other system development charges, and are to be segregated from all other funds of the city by accepted accounting practices. System development charges generating both reimbursement-fee revenues and improvement-fee revenues shall be collected and shall be held separately in accounts designated to receive reimbursement-fee and improvement-fee revenues for each facility system. That portion of the system development charge calculated and collected on account of a specific facility system shall be used for no purpose other than those set forth in Section 3.16.060, and in accordance with the provisions of ORS Chapter 223.
B. The city recorder shall provide the city council with an annual accounting, based on the city’s fiscal year, for system development charges showing the total amount of system development charge revenues collected for each type of facility and the projects funded from each account. (Prior code § 2.660)