(a) All ordinances and resolutions of a legislative nature introduced before the city council shall, before being acted upon, be submitted to the city manager who shall prepare a fiscal note, examining the items contained in paragraph (b), and such additional items as requested by the city council or as may be deemed appropriate by the city manager. (b) The fiscal note shall state:

    (1)    The cost of the proposed legislation to the city for the next two (2) fiscal years;

    (2)    Whether or not the proposed legislation will establish a program or agency that will duplicate an existing program or agency;

    (3)    Whether or not there is a federal or state mandate for the program or agency;

    (4)    Whether or not the proposed program or agency will have significant direct fiscal impact upon any other political subdivision or agency of the state; and

    (5)    Whether or not any new employees, physical facilities, or capital expenditures will be required.

    (c) The fiscal note for a bill shall accompany the bill throughout its course of passage, and may from time to time be revised to reflect changes made in the bill prior to its final passage.

(Code 1964, § 2.415)