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TOWN OF TRUCKEE <br /> California <br /> <br /> RESOLUTION NO. 2003-13 <br /> <br /> A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TRUCKEE <br /> <br /> WHEREAS, California government code section 66001, article 4 requires <br />specific findings be made in order to retain development impact fees which have <br />been on deposit in a municipality in excess of five years and; <br /> <br /> WHEREAS, At the conclusion of the 2001/2002 fiscal year the AB 1600 <br />(traffic impact) fee contained $715,411 in funds which had been deposited in the <br />fund in excess of five years prior to the end of the fiscal year and; <br /> <br /> WHEREAS, The source of the $715,411 deposited but unspent in the AB <br />1600 (traffic impact) fee program fund in excess of five years prior to the end of <br />the 2001/2002 fiscal year was $255,570 in interest which was earned on the fund <br />balance in the 1996/97 fiscal year, $357,891 in fees which were deposited in the <br />fund during the 1996/97 fiscal year, and $101,950 in fees which were deposited <br />in the fund during the 1995/96 fiscal year. <br /> <br /> NOW THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF <br />THE TOWN OF TRUCKEE that the council hereby make the following findings; <br /> <br />1. Funds which were deposited in the Town of Truckee AB 1600 (traffic impact) <br /> fee program fund in excess of five years prior to the end of the 2001/2002 <br /> fiscal year are intended for expenditure on future elements of the SR 89 <br /> South/I-80 Roundabouts Project, and the Third Tahoe Donner Connector <br /> project which are included in the Town of Truckee traffic impact fee program <br /> capital improvement project list. <br /> <br />2. The funds which are on deposit in the AB1600 (traffic impact) fee program <br /> fund, which were collected in excess of 5 years prior to the end of the <br /> 2001/2002 fiscal year, or are on deposit in excess of the prescribed five year <br /> limit established by government code section 66001, article 4 for the following <br /> reasons: <br /> <br /> a. Implementation of certain projects in the current and previous AB 1600 <br /> (traffic impact) fee program capital improvement project list is dictated by <br /> schedules of other agencies, which preclude expenditure of these funds <br /> within the prescribed five-year time frame. <br /> <br /> b. Interest which is earned on AB 1600 (traffic impact) fee fund balances will <br /> be used to offset increases in construction cost inflation. <br /> <br /> c. Certain projects within the AB 1600 (traffic impact) fee program will require <br /> funds in excess of those, which could be collected within a five-year time <br /> frame. <br /> <br /> <br />