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B -1 • <br />B. Implementation Schedule. <br />Park fees shall be placed in the General Fund immediately upon receipt with a <br />special designation as Park Fees. These funds, after special designation, shall be <br />used solely for the acquisition or establishment of new, or the rehabilitation of <br />existing, park, open space and recreational facilities. The park fees shall also be <br />placed on a schedule that lists the location of the subdivision, the fees paid, the <br />date on which the fees were paid or the date on which building permits had been <br />issued for 112 of the lots created by the subdivision (whichever occurs later), the <br />service area within which the subdivision is located, the neighborhood park, <br />recreation and open space facilities eligible for park fees generated by that <br />subdivision, the date on which the park fees must be committed to specific <br />project of improvements. The park fees shall be used only for the park and <br />recreation facilities identified in the Recreation and Open Space Element and <br />shall be utilized in accordance with the policies and standards specified in the <br />General Plan. Designations for expenditures will be made as part of the annual <br />budget adoption. <br />Attachment - Exhibit A] <br />Adopted - June 27,1994 <br />Amended - April 23, 2002 <br />Amended & Reassigned - April 8, 2003 <br />Amended - April 13, 2004 <br />Formerly I -1 <br />2 •