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ORDINANCE NO. NS-l195 PAGE THREE Sec. 34-205. Formula for Fees in Lieu of Land Dedication. a. General Formula If there is no park or recreation facility designated in the General Plan for park and recreation to be located in whole or in part within the proposed subdivision to serve the immediate and future needs of the residents of the subdivision, the subdivider shall, in lieu of dedicating land, pay a fee equal to the value of the land prescribed for dedication in Sec. 34-204 hereof, and in an amount determined in accordance with Sec. 34-207 hereof, such fee to be used for a local park which will serve the residents of the area being subdivided. b. Fees in Lieu of Land Fifty Parcels or Less. If the proposed subdivision is fifty (50) parcels or less, the subdivider shall pay a fee equal to the value of the land constituting that portion of the local park required to serve the needs of the residents of the proposed subdivision as prescribed in Sec. 34-204 hereof, and in an amount deter- mined in accordance with Sec. 34-207 hereof. c. Use of Fees. The money collected hereunder shall be used only for the purpose of providing park or recreational facilities reason- ably related to serving the subdivision by way of the purchase of necessary land or if the City Council deems that there is sufficient land available for the subdivision, for improving such land for park and recreational purposes. d. Park Acquisition and Development Fund. Fees paid under the requirements of this Article shall be placed in a special fund to be known as the "Park Acquisi- tion and Development Fund," which fund shall carry area desig- nations. A separate fund is established and shall be maintained for each local park acquisition and development area and shall be established as an accounting fund upon the receipt of the first fees paid for each of said local areas. Monies in such fund shall be expended for the acquisition or construction of local park and recreation facilities within the area which the fund relates. By the establishment of these local park acquisi- tion and development areas, the City Council is making the determination that the expenditure of fees collected pursuant to this Article from subdivisions within each local area, will serve the residents of the subdivision from which the monies have been collected. e. Designation of Fund. The local park acquisition and development areas shall contain all territory as shown, and said areas are bounded as shown in the eleven ell) separate maps which are on file in the office of the Clerk of the Council and which are by this reference made a part hereof as though fully set forth herein, each of which said maps bears the names of one of said areas and clearly describes the exterior boundaries of said area, each of said areas is fixed as shown on the map bearing the name and number of said local park acquisition and development area.