§ 15-397. Trust fund created.  

Latest version.
  • All habitat compensation required from applicants under section 15-396 shall be deposited in a fund to be known as the conservation trust fund. The fund shall be used only for the purchase, improvement, creation, restoration and replacement of natural habitat within the county. Such funds are not required to be expended for the replacement of the identical habitat type for the loss of which compensation was required consistent with this division. Such funds may be commingled with other funds of the county, or state or federal funds solely for expenditure for the purposes required under this section. All funds collected shall be expended within five (5) years for the purposes required under this section consistent with a five-year capital improvements program. The trust fund may be pledged to secure the issuance of bonds in anticipation of habitat compensation, or combined with other revenue sources to secure such bonds, provided the net proceeds of such bonds are expended for the purpose required herein.

(Code 1965, § 36B-42; Ord. No. 87-31, § 6.02, 7-27-87; Ord. No. 87-39, § 1(6.02), 11-9-87; Ord. No. 89-8, § 1(6.02), 7-3-89)