§ 9.6.10. Use of fees collected.

A.

Single benefit district. Because the TMP and TCEF show widespread us of the regional road system by all portions of the county, all of the unincorporated area within Larimer County is hereby designated as the regional road capital expansion fee benefit district. This single benefit district is the same as the single benefit district established by the regional transportation capital expansion fee regulation of 2006 that this regulation replaces.

B.

Expenditure. Regional road capital expansion fee funds must be spent within the single benefit district defined in subsection A.

C.

Establishment of trust fund. There is hereby established the Larimer County Regional Road Capital Expansion Fee Trust Fund for the purpose of ensuring that fees collected under this regulation are designated for the accommodation of impacts reasonably attributable to the proposed traffic-generating development.

D.

Requirements for trust fund.

1.

All regional road capital expansion fees collected by the fee administrator under this regulation shall be immediately deposited in the regional road capital expansion fee trust fund.

2.

No monies from the trust fund shall be spent for periodic or routine maintenance, rehabilitation, or replacement of any facility of any type, or to address deficiencies in the regional road system existing on the effective date of this regulation.

3.

Any proceeds in the trust fund not immediately necessary for expenditure will be invested in an interest-bearing account. All income derived from these investments must be retained in the trust fund until spent for the same purposes permitted for the remainder of the trust fund deposits.

4.

Proceeds collected and all interest accrued on such funds will be used solely for regional road capital facilities on the regional road.

5.

Records of the trust fund accounts will be available for public inspection in the fee administrator's office during normal business hours.

E.

Intergovernmental agreement. Each participating local government will also establish a trust fund into which regional road capital expansion fees collected by that government will be deposited. The procedures for control and expenditure of these funds will be established in the intergovernmental agreements.

(Res. No. 12262006R003, 12-26-2006; Res. No. 07-17-2018(1), Exh. A, 7-17-2018)