(a) The city shall update its land use assumptions and capital improvements plans at least every five years, commencing from the date of adoption of such plans, and shall recalculate the impact fees based thereon in accordance with the procedures set forth in Tex. Local Government Code, Chapter 395, or in any successor statute.
(b) The city may review its land use assumptions, capital improvements plans, impact fees and other factors such as market conditions more frequently than provided in subsection (a) above to determine whether the land use assumptions and capital improvements plans should be updated and the impact fee recalculated accordingly, or whether Schedules 1 or 2 should be changed.
(c) If, at the time an update is required pursuant to subsection (a) above, the city council determines that no change to the land use assumptions, capital improvements plan or impact fee is needed, it may dispense with such update by following the procedures in Tex. Local Government Code § 395.0575.
(Ord. 10601, § 1(1.18), passed 6-5-1990; Ord. 21239-05-2014, 1, passed 5-13-2014)