This article is adopted pursuant to the general powers reserved to the city under its City Charter for the purpose of implementing the goals, policies and objectives of the city's general plan, the North Natomas community plan and the North Natomas financing plan in the area of school facilities, and mitigating the impacts caused by new residential development upon the school facilities presently or in the future to be located in the North Natomas finance plan area. In general, said goals, policies and objectives require that there be provided to residents of North Natomas adequate school facilities. This chapter authorizes a fee to be assessed upon the owners developing residential property located within the North Natomas finance plan area in order to provide all or a substantial portion of the funds which will be necessary to construct and install adequate public school facilities and acquire related land. The fee established is the product of negotiations between North Natomas school districts and residential landowners and of a school facilities fee study commissioned by said districts, and it is the intent of the city to implement the resulting fee. It is the purpose of the city to ensure that adequate school facilities are constructed and installed in North Natomas and to protect and promote the public health, safety and welfare by conditioning legislative approvals relating to residential development with a requirement to pay such fee. (Prior code § 84.05.500)