Sec. 395.024. ACCOUNTING FOR FEES AND INTEREST. (a) The order, ordinance, or resolution levying an impact fee must provide that all funds collected through the adoption of an impact fee shall be deposited in interest-bearing accounts clearly identifying the category of capital improvements or facility expansions within the service area for which the fee was adopted.
(b) Interest earned on impact fees is considered funds of the account on which it is earned and is subject to all restrictions placed on use of impact fees under this chapter.
(c) Impact fee funds may be spent only for the purposes for which the impact fee was imposed as shown by the capital improvements plan and as authorized by this chapter.
(d) The records of the accounts into which impact fees are deposited shall be open for public inspection and copying during ordinary business hours.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government
Subchapter B. Authorization of Impact Fee
Section 395.011. Authorization of Fee
Section 395.012. Items Payable by Fee
Section 395.013. Items Not Payable by Fee
Section 395.014. Capital Improvements Plan
Section 395.015. Maximum Fee per Service Unit
Section 395.016. Time for Assessment and Collection of Fee
Section 395.017. Additional Fee Prohibited; Exception
Section 395.018. Agreement With Owner Regarding Payment
Section 395.019. Collection of Fees if Services Not Available
Section 395.020. Entitlement to Services
Section 395.021. Authority of Political Subdivisions to Spend Funds to Reduce Fees
Section 395.022. Authority of Political Subdivision to Pay Fees
Section 395.023. Credits Against Roadway Facilities Fees