§ 15.22.050 — Administration and accounting

15.22.050 - Administration and accounting.

A. The El Paso Water Utilities shall administer the provisions of this chapter. The El Paso Water Utilities shall establish adequate financial and accounting controls to ensure that impact fees disbursed from an account established under this section are utilized solely for the purpose authorized under V.T.C.A. Local Government Code Chapter 395. B. Accounts and funds. All funds collected shall be deposited in interest-bearing accounts clearly identifying the category of capital improvements or facility expansions within the service area for which the impact fee was adopted. Interest earned on impact fee accounts are considered funds of the account on which it is earned. Impact fee funds, to include interest generated from impact fee accounts, may be spent only for the purposes for which the impact fee was imposed as shown by the capital improvements plan and as otherwise authorized by V.T.C.A. Local Government Code Chapter 395. The records of the accounts into which impact fees are deposited shall be open for public inspection and copying during ordinary business hours. C. The El Paso Water Utilities shall maintain and keep adequate financial records for each account to show the source and disbursement of all revenues, which shall account for all monies received and ensure that the disbursement of funds from each account shall be used solely and exclusive for the purposes for which the impact fee was imposed as shown by the capital improvements plan and as otherwise authorized by V.T.C.A. Local Government Code Chapter 395. D. The El Paso Water Utilities shall ensure that any fee collected under the impact fee ordinance is expended within a reasonable period of time but not to exceed ten years from the date the fee is deposited into the impact fee account.