§ 24-40. Use of monies.

(a)

Educational system impact fees collected and transferred to the school board shall be deposited in a separate trust account established by the school board, maintained under the direction of the superintendent, and supervised by the school board. Such account shall be designated as the "educational system impact fee trust account" and shall be maintained separately and apart from all other accounts of the school board.

(b)

The school board shall: (1) annually submit to the county a plan outlining the proposed use of the educational system impact fees unless this information is otherwise provided to the county by the school board business advisory board, and (2) maintain adequate records to justify all expenditures from the educational system impact fee trust account. Upon reasonable notice, the county shall have access to such books, records and documents relating to the educational system impact fee trust account for the purpose of inspection or audit. The county or cities have the right, but not the duty, to audit the school board's educational system impact fee trust account at sole cost and expense of the audit-initiating jurisdiction.

(c)

The monies deposited into the educational system impact fee trust account shall be used solely for the purpose of providing growth necessitated capital improvements and additions to educational plants and ancillary plants of the county educational system including, but not limited to:

(1)

Design and construction plan preparation;

(2)

Acquisition of school busses;

(3)

Any permitting or application fees;

(4)

Fees for professional services, including but not limited to architecture, engineering, surveying, landscaping, soils and material testing, legal, appraisals, and construction management;

(5)

Land acquisition, including any cost of acquisition;

(6)

Construction and design of educational plants and ancillary plants or improvements and additions thereto;

(7)

Construction and design of drainage facilities required by the construction of educational plants and ancillary plants or improvements or addition thereto;

(8)

Relocating utilities required by the construction of educational plants and ancillary plants or improvements or additions thereto;

(9)

Site development and improvements incidental to the construction of educational plants and ancillary plants or improvements and additions thereto;

(10)

Landscaping incidental to the construction of educational plants and ancillary plants or improvements and additions thereto;

(11)

Construction management and inspection incidental to the construction of educational plants and ancillary plants or improvements and additions thereto;

(12)

Surveying, soils and material testing incidental to the construction of educational plants and ancillary plants or improvements and additions thereto;

(13)

Acquisition of furniture, fixtures and equipment necessary to accommodate students, faculty, administrators, staff and the activities of the educational programs and services at educational plants;

(14)

Repayment of monies borrowed from any budgetary fund of the county or the school board or from another school board pursuant to the classrooms first program set forth in F.S. § 1013.68 which were used to fund growth necessitated capital improvements and additions to the educational plants or ancillary plants as provided herein; and

(15)

Payment of debt service, to include the payment of principal and/or interest, in connection with bonds issued by the school board of Osceola County, Florida, the proceeds of which will be used by the school board to provide growth necessitated capital improvements and additions to the educational plants and ancillary plants of the county educational system;

(16)

Funding of growth-related construction for education facilities within education facilities benefit districts, including the payment of principal and/or interest on non-taxable bonds issued by educational facilities benefit districts.

(17)

Any other use which may be permitted the school board under applicable law.

(d)

The moneys deposited into the educational system impact fee trust account shall be used solely to provide capital improvements and additions to the county educational system as necessitated by growth and shall not be used for any expenditure that would be classified as a maintenance or repair expense.

(e)

Funds on deposit in the account which are not immediately necessary for expenditure shall be invested by the school board. All income derived from such investments shall be deposited in the educational system impact fee trust account and used as provided herein.

(Ord. No. 2010-11, § 2, 8-16-10; Ord. No. 2015-26, § 2, 4-20-15)