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ORANGE, CITY OF (TSIA - complete copy) - 1995
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ORANGE, CITY OF (TSIA - complete copy) - 1995
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within the TSIP Area and impacting the traffic system therein, <br />and which limit the expenditure of such fee revenues to trans- <br />portation system improvements benefiting said area; provided <br />nothing herein shall be construed to limit either party from <br />amending such ordinance to clarify its terms, change its applica- <br />tion to areas outside the TSIP Area, or bring it into compliance <br />with all applicable law. <br />From and after the date of execution of this Agreement, <br />any and all development fee revenues collected by either party <br />hereto on account of any development located within the TSIP area <br />shall be Authority money from the time of its collection and shall <br />be transmitted by the collecting party to the Treasurer for deposit <br />to the credit of the Authority. <br />The Treasurer of the Authority shall maintain such fee <br />revenues in an account separate and apart from all other moneys in <br />his custody. Such moneys may be invested in the same manner and <br />subject to the same limitations as municipal funds in the custody <br />of the Treasurer. Any and all interest accruing on such develop- <br />ment fee revenues shall belong to the Authority and shall be <br />treated in the same manner as development fee revenues. <br />Either party hereto, or both parties acting pursuant to <br />mutual agreement, may transfer other or additional city revenues <br />to the Authority to be treated in the same manner as development <br />fee revenues. <br />No part of Authority revenues shall be used for <br />administrative or overhead costs. <br />�� <br />
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