Any district receiving funds pursuant to this article as a result of mitigation shall
maintain a separate account for any fees paid and shall file a report with the city
council on the balance in the account. In addition, the report shall specify attendance
areas which will continue to be overcrowded for succeeding school terms and where
conditions of overcrowding no longer exist. Such report shall be filed not later than
August 1 of each year or as otherwise provided by regulation. The city council hereby
expressly authorizes affected districts, as agents of the city, to collect mitigation
fees directly from developers and to account for the fees as provided in this section.
