Ord 1987-019 - Laserfiche WebLink

Home Browse Search

39 AGREEMENT REGARDING DEVELOPMENT OF LOWMAN RANCH MUNICIPAL UTILITY DISTRICT THE STATE OF TEXAS COUNTY OF HAYS § § § KNOW ALL MEN BY THESE PRESENTS: THIS AGREEMENT (the "Agreement") is made as of the 9th day of February, 1987, and entered into by and among the Ci ty of San Marcos, Texas (the "City" ) , a municipal corporation situated in Hays County, Texas, acting by and through its duly authorized City Manager; Jeffrey B. Lewis, Trustee, and Lowman Ranch Ltd., a Texas limited partnership, (together, "LRL"), who together are the holders of legal ti tIe to a majority in value of the land comprising the proposed Lowman Ranch Municipal Utility District (the "District"), which is more particularly described in Exhib- it irA", attached heret.o and incorporated herein by refer- ence, consi sting of approximately 919.69 acres si tuated wholly in Hays County, Texas, all of which lies within the extraterritorial jurisdiction of the City. For and in consideration of the mutual agreements, covenants, and conditions in thi s Agreement the parties hereto contract and agree as follows: ARTICLE ONE GENERAL STATEMENT Pursuant to State law, a city in whose extraterritorial jurisdiction the creation of a municipal utility district is proposed has the right to consent to its creation, and must grant such consent in a written document. Simultaneously wi th the execution of thi s Agreement, the Ci ty has duly adopted an ordinance granting its consent to the creation of the District and executing that certain Agreement Concerning Creation and Operation of Lowman Ranch Municipal Uti Ii ty District, dated of even date herewith (the "Consent Agree- ment"). LRL will comply with certain development require- ments described herein for the property within the District in consideration of the City's commitment to consent to the creation of the Di strict reflected in the Consent Agreement.