Chapter 3.76
OPEN SPACE FUND
Sections:
3.76.010 Fund created.
The city shall and does establish four dedicated funds to be known respectively as the east, west, north and south open space funds. Each of the four funds shall be associated with a land area bounded on the outside by the proposed or adopted urban growth boundary of the city and divided by the centerline of Yelm Avenue as extended along State Highways 507 and 510 and the Burlington Northern Railroad right-of-way. All payments received pursuant to this chapter shall be deposited in the fund associated with the area in which the respective development is located. Each fund may only be expended to acquire designated open space within the area with which it is associated and to pay expenses associated with such acquisition. The decision to expend such funds shall be solely at the discretion of the city council. The use of any land acquired is limited only by the open space qualifications set forth in this chapter. The size of any open space area acquired may be smaller or larger than that foregone by any payment made to an open space fund. (Ord. 449, 1993; Ord. 445 § 2, 1992).