(a) The fee levels established by Section 9-41 shall be reviewed on July 1 of each year. The fees levels shall be compared to the Engineering News Record (ENR) Construction Cost Index.

(b) The development impact fee levels may be changed in accordance with the percentage change in the ENR index from January 1 to January 1 of each preceding year, but in no case shall the indexing increase or decrease in development impact fees allowed by this section fee exceed that shown in the ENR index.

(c) When calculating the fee level to be charged for the coming fiscal year, increments of less than one dollar shall be rounded to the nearest dollar.

(d) Before June 1 of each year, the director of public works shall prepare a report to the city council containing the calculations required by this section. If any index adjustments and fee changes are appropriate, the same shall be adopted by resolution of the city council to be effective the following July 1. (Ord. No. 1847 (NCS), § 1; Ord. No. 2224 (NCS), § 1.)