Effective January 1, 2023, and January 1st of each year thereafter, any fee or charge imposed by this code for which an annual fee adjustment is authorized shall be adjusted at a rate equal to the annual 12-month percentage change in the Consumer Price Index for All Urban Consumers for the Seattle-Tacoma-Bellevue Metropolitan Area reflecting data for all items through October (“city CPI adjustment”) as prepared by the United States Department of Labor, Bureau of Labor Statistics (“BLS”); however, if the designated Consumer Price Index for All Urban Consumers for the Seattle-Tacoma-Bellevue Metropolitan Area ceases to exist or is changed by BLS, the “Consumer Price Index for All Urban Consumers” will reference a BLS index similar to that of the Seattle-Tacoma-Bellevue Metropolitan Area selected by the director of finance to reasonably measure change in the purchasing power of the U.S. dollar for the city. The director of financial and management services shall timely report the city CPI adjustment to the public records officer following publication by BLS. (Ord. M-4376 § 2, 2022; Ord. M-4363 § 2, 2022)