A. The Lakewood City Council shall have the authority to exercise the statutory powers set forth in Chapter 36.73 RCW and this chapter.

B. The Lakewood City Council adopts the existing TBD policies, procedures and actions including the TBD material change policy to address major plan changes that affect project delivery or the ability to finance the plan, pursuant to the requirements set forth in RCW 36.73.160(1). The City Manager or designee is hereby authorized to amend the language in any such policy, procedure or action to accurately reference City authority rather than TBD authority.

C. Annual Report to the Public. The Lakewood City Council shall issue an annual report, pursuant to the requirements of RCW 36.73.160(2). [Ord. 656 § 2, 2016; Ord. 560 § 1, 2013; Ord. 550 § 2, 2012.]