§ 8.7-64. Use of educational system impact fees.

A.

Educational system impact fees shall be collected by the county and deposited in a designated account established and maintained by the Polk County clerk of court (the "clerk"). Such account shall be known as the "educational system impact fee account." The clerk shall hold all monies deposited into the educational system impact fee account and may invest all funds which are not immediately necessary for expenditure in a reasonable and prudent manner. All income derived from such investments shall be deposited in the educational system impact fee account and used as provided herein. The county shall report the balance of the educational system impact fee account funds to the school board on a quarterly basis.

B.

The school board shall make application to the county for release of funds from the educational system impact fee account by submitting its written request to the county manager, along with supporting documentation to verify the proposed use of funds in accordance with applicable law. The county manager shall review all such applications to ensure that the proposed expenditures are in accord with the purposes set forth herein and applicable law. Within thirty (30) days of receipt, the county manager shall forward the school board's complete application to the board, along with a written recommendation as to whether the request for release of funds should be approved.

C.

After consideration of the school board's application, the county manager's recommendation, the limited purposes of the educational system impact fees as enumerated herein and as established by applicable law, and such other information it deems relevant, the board may choose in its discretion to approve the school board's request for release of educational system impact fee account funds. If an application is approved and funds disbursed, the school board shall maintain adequate records to demonstrate that the disbursed funds were used as stated in the application. Upon reasonable notice, the county shall have access to such records for the purpose of inspection or audit.

D.

The county shall only be permitted to release funds which are in the educational system impact fee account at the time the school board's application is approved. In the event that the board approves a request by the school board for the release of funds in an amount which exceeds the total amount of funds in the educational system impact fee account at the time, then, upon the county manager's approval, the approved funds will be released in an amount up to the total amount of funds in the educational system impact fee account at the time of approval, and on a quarterly basis thereafter, until the full amount of the request is satisfied.

E.

The monies deposited into the educational system impact fee account shall be used solely for the purpose of providing growth-necessitated capital improvements to educational plants and ancillary plants of the educational system, including, without limitation:

1.

Design and construction plan preparation;

2.

Any permitting or application fees necessary for the construction;

3.

Site development and on-site and off-site improvements incidental to the construction thereto;

4.

Land acquisition, including any cost of acquisition;

5.

Design and construction of educational plants and ancillary plants;

6.

Design and construction of new drainage facilities required by the construction of educational plants and ancillary plants or improvements thereto;

7.

Relocating utilities required by the construction of educational plants and ancillary plants or improvements or additions thereto;

8.

Landscaping;

9.

Construction management and inspection;

10.

Surveying, soils and materials testing;

11.

Acquisition of furniture and equipment necessary to accommodate students, faculty, administrators, staff and the activities of the educational programs and services at educational plants which is necessitated by growth;

12.

Repayment of monies transferred or borrowed from any budgetary fund of the county or the school board which were used to fund growth-necessitated capital improvements to the educational plants or ancillary plants;

13.

Costs related to the administration, collection and implementation of the educational system impact fee;

14.

Payment of principal and interest, necessary reserves and costs of issuance under any bonds or other indebtedness issued by the school board to fund growth-necessitated improvements and additions to the educational system; and

15.

Fees for professional services, including, without limitation, architecture, engineering, surveying, landscaping, soils and material testing, legal, appraisals, and construction management.

16.

On-site sidewalk improvements incidental to the construction of educational facilities or growth-necessitated improvements thereto.

F.

Funds on deposit in the educational system impact fee account shall not be used for any expenditure that would be classified as a maintenance or repair expense.

G.

A report shall be prepared annually by the school board reflecting the collection and expenditures of the educational system impact fees during the previous year. Such annual report shall be submitted to the county within ninety (90) days after the last day of the school board's fiscal year.

(Ord. No. 18-048, § VI(6.04), 7-24-18)