(a) As used in this section, "consumer price index" means the consumer price index prepared by the United States Bureau of Labor Statistics (U.S. City Average for Urban Wage Earners and Clerical Workers: All Items, 1982 - 1984 = 100) or, if that index is no longer published, a generally available comparable index.
(b) (1) Effective January 1, 2018, the annual compensation for the Mayor of the City shall be increased from the current compensation by the percentage increase, if any, in the annual average of the consumer price index from October 1, 2012, to September 30, 2017, rounded up to the nearest one-tenth of one percent and reduced by one quarter of one percent;
(2) Each calendar year thereafter, the annual compensation for the Mayor of the City shall be increased by the percentage increase, if any, in the annual average of the consumer price index over the sixty month period that ends on the thirtieth day of September of the immediately preceding calendar year, rounded up to the nearest one-tenth of one percent and reduced by one quarter of one percent.
(c) No percentage change shall be less than zero percent or greater than five percent.
(d) If the City General Fund for the prior fiscal year ends in a deficit, no adjustment in the Mayor's salary shall be made.
(e) At the first regular meeting of Council in January each year the Director of Finance shall report to Council and the Mayor by memorandum the percentage increase rounded, the final percentage as reduced, and the amount of increase, if any, of the Mayor's salary; said report shall be noted in the meeting minutes.
(Ord. 2015-12. Passed 4-27-15; Ord. 2016-8. Passed 2-8-16.)