A. The revenues received from the system development charges shall be budgeted and expended as provided by state law. Such revenues and expenditures shall be accounted for as required by state law. Their reporting shall be included in the city’s comprehensive annual financial report required by ORS Chapter 294.

B. The capital plan for capital improvements required by state law as the basis for expanding the public improvement charge component of system development charge revenues shall be the adopted facilities plans and the capital improvement plan (C.I.P.) of any other governmental entity with which the city has a cooperative agreement for the financing of commonly used public improvements by the collection of system charges, provided such plans conform with state law and are consistent with the city’s C.I.P. and the city’s comprehensive plan. The council or governmental agencies may modify such plan and list at any time. [Ord. 725 § 7.]