Sec. 21-12-6. Disposition of fees.

Fees collected pursuant to this section shall be deposited into the subdivision park trust fund. Collected fees shall be committed to the development of park or recreational facilities to serve residents of the subdivision within five years after the issuance of building permits on one-half of the lots created by the subdivision. If such fees are not so committed, these fees, less an administrative charge, shall be distributed and paid to the then record owners of the subdivision in the same proportion that the size of their lot bears to the total area of all lots in the subdivision. (Ord. No. 1500, § 3 (part).)