§ 22-25. Review and update.

Chapter 22, Article II and the Educational System Impact Fee Study shall be reviewed by the county in consultation with the school board at least once every three (3) years. The initial and each subsequent review shall consider but not be limited to all components of the impact fee study accepted herein. Said review shall also include detailed analyses of the economic impacts of this ordinance. The purpose of this review is to demonstrate that the educational system impact fee does not exceed reasonably anticipated costs associated with growth necessitated capital improvements. In the event the review of the article and the impact fee study required by this section alters or changes the assumptions, conclusions and findings of the impact fee study accepted by reference then said study shall be amended and updated to reflect the assumptions, conclusions and findings of such reviews and the educational system impact fee shall be amended in accordance therewith. Additionally, the school board shall provide an accounting report on an annual basis to the Lake County Impact Fee Committee, and shall give an annual accounting presentation to the Lake County Board of County Commissioners. Such accounting shall show all revenues received, including interest earned on impact fee funds, as well as all expenditures of impact fee funds.

(Ord. No. 2007-60, § 1, 12-11-07)