Ord 1985-117 - Laserfiche WebLink

Home Browse Search

B. In furtherance of the purposes of this Agreement, the District and Storm Development and their respective successors and assigns, covenant and agree to the extent allowed by law that, except upon written consent of the City Council of the City they will not: (1) seek or support any attempt to incorporate any land within the District, or any part thereof; or (2) sign, join in, associate with, or direct to be signed any petition seeking to incorporate any land in the District or to include any of such land within the boundaries of the City or any other incorporated entity. Storm Development shall notify each person or entity purchasing property within the District from Storm Development of the annexation provisions of this Agreement and that any attempt to incorporate all or any part of the District would be contrary to the intent and purpose of this Agreement. C. It is agreed and understood by the parties hereto that, by enacting the ordinance granting consent to the creation of the District and by executing this Agreement, the City has begun to provide for the legal process of annexation of the District and it is mutually agreed that all parties hereto shall use their best efforts to bring about the conclusion of that process in accordance with the terms hereof. At its option, the City may elect to complete the annexation and dissolution of the District under the provisions of either subsection (f) or subsection (h) of Section 54.016, Texas Water Code. The City at its option also may complete the annexation of the land within the District under the procedure specified in subsection (f) without dissolving the District and by proceeding under subsection (h) upon subsequent dissolution of the District to charge and collect additional rates or surcharges for water and/or sewer services for the property that was in the District at the time of annexation of the land to the City, for the purpose of wholly or partially compensating the City for the assumption 01 the obligations of the District. Paragraph D of this Article constitutes the written contract between the City and the persons petitioning for creation of the District setting forth the time and conditions of annexation, as specified in subsection (h) of Section 54.016, Texas Water Code. Paragraph E of this Article contains the terms of the proposed allocation agreement between the District and the City whereby the District may continue to exist following the annexation to the City of the territory within the District, as provided in subsection (f) of Section 54.016, Texas Water Code. Paragraph E shall not be binding on the parties hereto unless the District executes this Agreement prior to the first issue of bonds, notes, warrants or other obligations of the District. It is agreed that the purpose and intent of the parties is to assure that the City will be fully compensated for the assumption by the City of the obligations of the District upon annexation of the District to the City, regardless of the method of annexation followed by the Ci ty. D. It is expressly understood and agreed that the City may annex the District's lands and dissolve the District upon the following terms and conditions, pursuant to subsection (h) of Section 54.106, Texas Water Code; (1) The District agrees that at least ninety percent (90%) (as defined in Paragraph VI D (2» of the total District facilities, which facilities are limited to those listed in Exhibit "B" attached hereto, to be constructed and for which District bonds are authorized ("requisite percentage of District facilities") will be installed within ten (10) years from the date of the election confirming the creation of the District. At any time following the installation of the requisite percentage of the District facilities, the annexation process may begin on land within the District and such land may be included in the corporate boundaries of the Ci ty. (2) If the installation of ninety percent (90%) (as hereafter defined) or more of the facilities as listed in Exhibit "B" attached hereto has not been accomplished by the end of the ten (10) year period, the City Council of the City, at its A:SMMUDI3-9 (1/22/86)