A. The park development, improvement and enhancement fee shall be paid in full, in cash, at the date of final inspection, or the date the certificate of occupancy is issued, whichever occurs first. Said fee may be paid at time of building permit issuance if a developer chooses. Said fee may be paid by cash, pledged certificate of deposit, irrevocable letter of credit, or performance/surety bond if developer wishes to pay said fee prior to recordation of a final subdivision map tract or parcel map. All but cash shall be made payable upon demand by the public works director.

B. The city council shall make findings once each fiscal year with respect to any portion of the fee remaining unexpended or uncommitted in said account five or more years after deposit of the fee to identify the purpose to which the fee is to be put and to demonstrate a reasonable relationship between the fee and the purpose for which it was charged. These findings need only be made for moneys in possession of the city and need not be made with respect to letters of credit, bonds, or other instruments taken to secure payment of the fee at a future date.

C. Except as provided in subsection D, the city shall refund to the current record owner or owners of lots or units of the development project or projects on a prorated basis the unexpended or uncommitted portion of the fee, and any interest accrued thereon, for which need cannot be demonstrated pursuant to this chapter. The city may refund the unexpended or uncommitted revenues by direct payment, by providing at temporary suspension of fees, or by any other means consistent with the intent of California Government Code Section 66001. The determination by the city council of the means by which those revenues are to be refunded shall be a legislative act.

D. If the administrative costs of refunding unexpended or uncommitted revenues pursuant to this chapter exceed the amount to be refunded, the city council, after a public hearing, notice of which has been published pursuant to California Government Code Section 6061 and posted in three prominent places within the area of the development project, may determine that the revenues shall be subject to this chapter and which serves the project on which the fee was originally imposed. (Ord. 3327 § 1, 1991)