Question 8: Charter Amendment

In 1968, the Charter established $5,000.00 as the amount over which council pre-approval is required for public purchases and improvements. The amount approved by the voters in 1968, as
adjusted for inflation, is approximately equivalent to $50,000.00. The City is seeking to update sections 13.03 and 13.04 of the Charter regarding purchasing authority to account for inflation.
Shall the purchasing authority in Sections 13.03 and 13.04 be updated to the amount of $50,000.00 to reflect an inflationary adjustment of the amount approved by the voters in 1968?