§ 20.11.060. PFC effective date and termination date.

The imposition of the PFC pursuant to Section 20.11.020 shall be effective on June 1, 1992. Such imposition shall terminate on the earlier of:

(a)

November 1, 2053; or

(b)

The date on which the total PFC revenue plus interest thereon equals the allowable cost of the approved projects; unless Approvals dated after February 24, 1992, permit a later termination date, in which case the imposition shall terminate on such later termination date. Such charge shall also terminate if the authority to collect the charge is validly terminated by the Administrator under Subpart E of the Regulations or by the Administrator under regulations validly promulgated under the Airport Noise and Capacity Act of 1990 (Pub. L. 101-508, Title IX, Subtitle D).

(Ord. 1382 § 1 (part), 1992)

(Ord. No. 4214, § 2, 6-3-2014)