A. There is hereby created a new city of Auburn fund, to be known as the “mitigation impact fund.”

B. Receipts into the mitigation impact fund will be from negotiated mitigation agreements between the city and developer. School impact fees will be treated in accordance with Chapter 19.02 ACC.

C. Expenditures from the mitigation impact fund will be used to mitigate costs associated with the growth. (Ord. 5155 §§ 1, 2, 3, 1998.)