Ordinances-2012-319

Space and Recreational Facilities", and that said funds so levied and collected must be used for such purposes at such places and in such a manner as will be approved, ordered and directed by the City Council or its designation. Any interest accumulated upon such funds must be added to the "Special Fund" and be used only for acquisition and developments of open space and recreational facilities. 4.09 PARKS AND SCHOOL SITES RESERVED When a tract being subdivided includes lands proposed to be parks or school sites in the Community Development Plan or other official plan of the City, the subdivider shall indicate such areas on the plat. A) Proposed park sites shall be reserved for three (3) years, giving the City or other authorized public agency the option to purchase the land at the appraised raw land value prior to the subdivision as established by a certified land appraiser. The purchase price shall also include one-half (1/2) of the cost for grading and paving, including curbs, of the portion of any streets that are contiguous to the site and any taxes and interest incurred by the subdivider between the date of reservation and date of purchase by the public agency. Should the park site not be purchased within three (3) years, the subdivider may then amend the final plat. B) Proposed school sites shall be reserved for three (3) years, giving the appropriate school district the option to purchase the land at the appraised raw land value prior to the subdivision as established by a certified land appraiser. The purchase price shall also include one-half (1/2) of the cost for grading and paving, including curbs of the portion of any streets that are contiguous to the site and any taxes and interest incurred by the