(1) The “REET 2 Fund” is created as a special revenue fund.

(2) Revenues from the additional one-quarter percent real estate excise tax provided in Chapter 3.08 SMC must be deposited into the fund.

(3) Expenditures from the fund must qualify per RCW 82.46.035. (Ord. 1520 § 1 (Exh. A), 2023).