§ 106-14. Administration of impact fee.

A. 

Impact fees due pursuant to this chapter shall be collected by the Township in the manner or manners prescribed herein prior to the issuance of a building permit.

B. 

Establishment of fund. Upon receipt of impact fees, the Township Manager's office shall be responsible for the separate and proper accounting of such fees. All such fees shall be deposited in an interest-bearing account in a bank authorized to receive deposits of the Township's funds. Interest earned by each account shall be credited to that account and shall be used solely for the purpose specified for funds of such account.

C. 

Establishment and maintenance of accounts. The Township Manager's office shall establish appropriate trust fund accounts and shall maintain records whereby impact fees collected can be segregated for each transportation district area.

D. 

Maintenance of records. The Township Manager's office shall maintain and keep adequate financial records for each such account which shall show the source and disbursement of all revenues, which shall account for all moneys received and which shall insure the disbursement of funds from each account shall be solely and exclusively for the provision of projects specified in the program for the particular transportation district area.