Pursuant to RCW 35A.34.130, the City Council hereby provides for a mid-biennial review and modification of the biennial budget. No sooner than eight months after the start of the first year of the fiscal biennium, nor later than the second regularly scheduled City Council meeting in October of the first year of each biennial budget, the City Manager shall prepare proposed budget modifications to be effective as of January 1st of the following year. Such proposed modifications shall be sent to City Council members and shall be a public record and available to the public. A public hearing shall be held on the proposed modifications at a City Council meeting no later than the second regularly scheduled City Council meeting in November and may be continued from time to time. Notice of the hearing shall be published consistent with publication of notices for adoption of other City ordinances. At such hearing or thereafter, the City Council may consider a proposed ordinance to adopt such modifications. A complete copy of any budget modification ordinance will be transmitted to the State Auditor and to the Association of Washington Cities.