The funds collected from impact fees shall be used solely for the purpose of construction of the local street portion of collector and arterial streets or for the retirement of debt incurred by the city for financing construction of the local street portion of collector and arterial streets or for the reimbursement of the street improvement revolving fund. Funds collected shall not be used to maintain, repair, or operate the existing street system, nor to finance the nonlocal portion of constructing collector or arterial streets, nor to finance the construction of local streets. The construction of all unconstructed collector or arterial streets for which impact fees have been collected, shall be undertaken by the city within a reasonable time, as determined by the council, after impact fee funds have been received by the city. In making its determination as to what is a reasonable time, the council shall give consideration to the major thoroughfare plan, the capital improvement program, the street improvement revolving fund, the needs of the abutting properties and such other matters as the council may deem necessary.

(Ord. No. 10833, § 5, 12-16-85)