All fees collected under sections 249-14 and 249-14.5 shall be deposited in a fund to be known as the "bikeway fund" and shall be expended in the county in which the fees are collected for the following purposes:

1. (1) For acquisition, design, construction, improvement, repair, and maintenance of bikeways, including the installation and repair of storm drains and bridges;
2. (2) For installation, maintenance, and repair of bikeway lights and power, including replacement of old bikeway lights;
3. (3) For purposes and functions connected with traffic control and preservation of safety upon bikeways;
4. (4) For payment of interest on and redemption of bonds issued to finance bikeway construction and improvements; and
5. (5) For the promotion of bicycling transportation and recreation.

[L 1974, c 105, pt of §2; am L 1984, c 273, §2; am L 1988, c 264, §7]