A. All revenues derived from the improvement portion of water SDC shall be placed in a reserve fund. The improvement portion of water SDC revenue, including interest earned on balances in the fund, shall be used for no purpose other than those activities described as, or for the benefit of, extra capacity facilities as designated in the capital improvement fund.

B. A separate reimbursement fund shall be maintained and all moneys derived from the reimbursement portion of the water SDC shall be placed in the fund. Funds from this account shall only be spent on capital improvements associated with the water system, including expenditures related to repayment of indebtedness as authorized by ORS 223.307.

C. Water reimbursement SDC funds shall be deposited to the water systems development charge reimbursement account.

D. Reasonable and customary costs of administering this fee and projects funded hereunder may be paid from SDC revenues. [Ord. 956 Art. 5, 2019.]