If, on July first following the city council's adoption of a resolution establishing the amount of the transportation facility fees to be assessed and levied pursuant to the provisions of this chapter or on July first of any year thereafter, there has been an increase in building construction costs within the city, the city manager, without any further action by the city council, shall increase that portion of the transportation facility fees and, where appropriate, that portion of the transportation facility fee credits hereinafter provided for by this chapter which is allocable to the costs of constructing and installing street facility improvements and bikeway improvements in an amount proportional to the increase in such costs. The determination of whether there has been an increase in the costs of constructing and installing street facility improvements and bikeway improvements and the amount of the increase in the transportation facility fees and transportation facility fee credits which is proportional to the increase in such costs shall be made by the city manager and shall be based exclusively on the net percentage increase during the preceding year, as published in the Caltrans Highway Construction cost index. The index used shall be a rolling three (3) year average, or prior twelve (12) quarters index average.
Similarly, if, on July first following the city council's adoption of a resolution establishing the amount of the transportation facility fees to be assessed and levied pursuant to the provisions of this chapter or on July first of any year thereafter, there has been an increase in the cost of acquiring street maintenance equipment, the city manager, without any further action by the city council, shall increase that portion of the transportation facility fees and, where appropriate, that portion of the transportation facility fee credits which is allocable to the acquisition of such street maintenance equipment in an amount proportional to the increase in such costs. However, the determination of whether there has been an increase in the cost of acquiring street maintenance equipment and the amount of the increase in the transportation facility fees or transportation facility fee credits which is proportional to the increase in such costs shall be made by the city manager and shall be based exclusively on the net percentage increase during the preceding year in the Consumer Price Index published by the Federal Bureau of Labor Statistics for all Urban Consumers - U.S. Cities Average (all items) or any other measure employed by the Federal Bureau of Labor Statistics in lieu of such Consumer Price Index that measures the cost of living in U.S. cities.
(Ord. 1956 §l (part), Ord. 2521 §9)