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A. The council shall establish by resolution, a schedule of transportation impact fees calculated to provide the sum of money necessary to pay the estimated total cost, as set forth in the report entitled "City of Wasco Future Conditions Report." Such schedule shall be conditional and based on the following findings by the council:

1. That the planned transportation facilities are in conformity with the circulation element of the general plan of the city;

2. That the development of property will require construction or acquisition of planned transportation facilities and that the fees are fairly apportioned on the basis of benefits conferred on property developed or to be developed or on the need for planned transportation facilities created by proposed or existing development of property;

3. That transportation facilities planned are in addition to any existing transportation facilities serving the city at the time of adoption of the circulation element of the general plan are necessary to complete the planned transportation facilities.

B. The schedule of fees shall be those amounts as established by a resolution of the council and shall remain in effect until subsequently amended. If not explicitly amended by resolution, each July 1st thereafter, the schedule of fees shall be adjusted in accordance with the following criteria:

1. On April 1st of each year the city engineer shall review the current Engineering News Record Construction Cost Index (ENRCCI) for the cities of Los Angeles and San Francisco, CA. When the average of such indices differs from the average of the indices for the preceding April 1st, the factor of increase or decrease shall be applied to the schedule of fees. Such factor shall be computed by dividing the average ENRCCI for the current April 1st by that pertaining to the previous April 1st. The individual transportation impact fee rates may be multiplied by the factor to determine the adjusted schedule of fees. The engineer shall present the new fee schedule for adoption by resolution of council after at least one public hearing.

2. If new improvements are added by an amendment of the circulation element, the engineer shall add to the schedule of fees the transportation impact fee rates for the new planned transportation facilities established by the council concurrently with the amendment of the circulation element adding thereto such new planned transportation facilities.

3. If in the determination of the engineer the adjustment of the schedule of fees produced by the procedure in subdivision 1 of this subsection is not representative of the actual change in costs of the planned transportation facilities, the engineer may, in lieu of the procedures set forth in said paragraph, compute a new schedule of fees for adoption by resolution of the council after at least one public hearing.

4. In the event of the adoption of a new schedule of fees by resolution of the council, such new schedule shall become effective sixty days after the adoption thereof by the council. The adjustment of such schedule provided in subdivision 1 of this subsection shall begin the April 1st next occurring after adoption of the new schedule. (Ord. 469 §1, 2002).