There is hereby created and established in the accounting system of the city a development impact and mitigation fund.
(Ord. 1132 § 1, 1993)
The purpose of the development impact and mitigation fund shall be to receive revenues and segregate into general, street, park and utility categories dollars that have been contributed and dedicated for the purpose of mitigating the impacts of city- or developer-related projects or for assessments by the city for impacts brought about by the development of projects. The finance director-treasurer shall create such special categories as are necessary to properly account for funds required to be expended on a specific improvement.
(Ord. 1132 § 2, 1993; Ord. 1746 § 1 (Exh. A), 2011)
The development impact and mitigation fund may have expenditures made directly against it for the amounts collected for any specific project purpose upon which the fees were collected or may make operating transfers out to the appropriate operating fund.
(Ord. 1132 § 3, 1993)