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(a) Financial impact statements shall be provided for all ordinances or amendments to any ordinance introduced to the City Council which would increase or decrease City revenues, make City appropriations or increase or decrease existing appropriations or the fiscal liability of the City, or impose functions or responsibilities on the City which will increase its expenditures or fiscal liability.

(b) The financial impact statement required by this section shall, if possible, include a reliable estimate in dollars of the anticipated change in revenue, expenditures or fiscal liability under the provisions of the ordinance or amendment. It shall also include a statement as to the immediate effect and, if determinable or reasonably foreseeable, the long range effect of the measure. If, after careful investigation, it is determined that no dollar estimate is possible, the statement shall contain information to that effect, setting forth the reasons why no dollar estimate can be given.

(c) No comment or opinion shall be included in the statement regarding the merits of the measure for which the statement is prepared. (Ord. 17226 § 10, 1-27-98. Code 1995 § 2-31.)