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TOWN OF TRUCKEE <br /> California <br /> <br />RESOLUTION NO. 2002-06 <br /> <br />A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TRUCKEE MAKING <br />FINDINGS TO RETAIN AB 1600 (TRAFFIC IMPACT) FEES COLLECTED IN EXCESS <br />OF FIVE YEARS PRIOR TO THE END OF FISCAL YEAR 2002-01 <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 been <br />on deposit in a municipality in excess of five years, and; <br /> <br /> WHEREAS, At the conclusion of the 2000/2001 fiscal year the AB 1600 (traffic <br />impact) fees contained $671,912 in funds which had been deposited in the fund in <br />excess of five years prior to the end of the fiscal year, and; <br /> <br /> WHEREAS, The source of the $671,912 deposited but unspent in the AB 1600 <br />(traffic impact) fee program fund in excess of five years prior to the end of the <br />2000/2001 fiscal year was $227,249 in interest which was earned on the fund balance <br />in the 1995/96 fiscal year and $444,663 in fees which were deposited in the fund during <br />the 1995/96 fiscal year <br /> <br /> NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE <br />TOWN OF TRUCKEE that the Town Council hereby makes the following findings: <br /> <br />Funds which were deposited in the Town of Truckee AB 1600 (traffic impact) fee <br />program fund in excess of five years prior to the end of the 2000/2001 fiscal year are <br />intended for expenditure on future elements of the SR 267 Bypass (Truckee Ramps) <br />Project, and the Third Tahoe Donner Connector project which are included in the <br />Town of Truckee traffic impact fee program capital improvement project list. The <br />entirety of these funds are currently programmed for expenditure in the 2001/2002 <br />fiscal year. <br /> <br />2. The funds which are on deposit in the AB1600 (traffic impact) fee program fund, <br /> which were collected in excess of 5 years prior to the end of the 2000/2001 fiscal <br /> year, or are on deposit in excess of the prescribed five year limit established by <br /> Government Code Section 66001, Article 4 for the following reasons: <br /> <br />a. Implementation of certain projects in the current and previous AB 1600 (traffic <br /> impact) fee program capital improvement project list is dictated by schedules of <br /> other agencies which preclude expenditure of these funds within the prescribed <br /> five year time frame. <br /> <br />b. Interest which is earned on AB 1600 (traffic impact) fee fund balances will be <br /> used to offset increases in construction cost inflation. <br /> <br /> <br />