§ 42-275. Fund; expenditures; invested in interest-bearing accounts.

(a)

The interim services fees collected by the city pursuant to this article shall be kept in a separated account from other revenue of the city in the general fund and may only be expended and used for the purposes of providing city services for the benefit of those structures upon which the interim services fee has been imposed and collected.

(b)

The city manager shall provide the city commission with recommendations for expenditure of the interim services fees during the annual budget process or from time to time as needed. The city commission by resolution may approve all expenditures from the account upon a determination that such expenditures are consistent with this article and the purposes for which the interim services fees were collected.

(c)

Any funds on deposit in the interim services fee account which are not immediately necessary for expenditure pursuant to this article may be invested in interest-bearing accounts. All income derived shall be credited to the interim services fee account. Owners and others who have paid the fee shall not receive a credit for or be entitled to interest from the investment of funds.

(d)

Any funds deposited in the interim services fee account which are not expended or encumbered six years from the date the interim services fee was paid shall be, upon application of the feepayer and proof of payment, returned with the average interest earned by the city on such funds from the date of payment.

(Code 1988, § 20-68)