Ord 1987-019 - Laserfiche WebLink

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Section 3.05. Electricity Service. It is acknowledged that although the District lies within the service area of the Pedernales Electric Cooperative ("PEC" ) , the City desires to provide electrici ty service to the District, thereby more fully integrating the District into the City's systems. Accordingly, LRL agrees that it will cooperate with the City and not perform any action which would impede the City's efforts, and if the City secures a release from the PEC enabling the City to serve LRL's property, LRL will purchase electricity service from the City. It is specif- ically agreed that PEC service may be purchased by LRL unless and until the City has authority to serve the area in which LRL I S property lies. Section 3.06. Affordable Housing. The City has stated that it intends to adopt a plan of inducing the construction of moderately priced housing wi thin and surrounding the Ci ty. LRL agrees that it will comply wi th an affordable housing program adopted by the City which applies equally to all developers wi thin the Ci ty and the extraterritorial jurisdiction thereof, and which does not require the sale of any residences within the District at less than market value or which would impair the District's ability to issue bonds or to service the debt thereof¡ provided, however, that any impact fee imposed not exceed $150 per living unit equiva- lent. Section 3.07. Land and Easements for Di strict Use. LRL agrees to dedicate at no cost any land, easements or rights-of-way that it owns which are needed for facilities, regional or internal, to serve District residents. ARTICLE FOUR ASSIGNMENT OF AGREEI>1ENT LRL, its successors and assigns may, from time to time, transfer, conveyor assign all or any part of its rights and obligations under this Agreement with respect to all or any part of the land within the District owned by it. Provided that the assignee or assignees assume the liabili ties, responsibilities and obligations of the assignor under this Agreement, the party assigning its rights and obligations under this Agreement shall be released from the liabilities, responsibilities and obligations hereof to the extent of the land involved in such assignment or assignments. The City may review for the purpose of approval or disapproval the -5-