Ord 1985-117 - Laserfiche WebLink

Home Browse Search

used to calculate the surcharge, then the District and the City agree to recalculate the surcharge accordingly, and such recalculated surcharge shall be charged and collected beginning in the month following such recalculation as provided herein. Each purchaser of land within the District shall be furnished by Storm Development or its successors or assigns, prior to the final closing of the sale and purchase, a separate written notice executed and acknowledged by the seller which shall contain the information required by Section 54.016(h) (4) (A) of the Texas Water Code. The District shall comply with Section 54.016(h)(4)(B) of the Texas Water Code. E. If prior to the installation of the requisite percentage of District facilities specified in Paragraph D, above, the City is presented with a valid petition for annexation or in connection with the incorporation of any lands within the District which complies with the provisions of the Municipal Annexation Act (Article 970a, V.T.C.S.) and all other statutes, ordinances and charter provisions relating to annexation or incorporation, the City shall be authorized to annex such land into the corporate boundaries of the City, pursuant to subsection (f) of Section 54.016, Texas Water Code. Provided, however, the District and the City agree the District shall continue to exist following the effective date of such annexation subject to the following terms and condi tions: ( 1) The provisions of this Agreement shall remain in full force and effect until the District is dissolved in accordance wi th the provisions of subsection (4) . (2) The total ad valorem taxes collected by the City and the District on taxable property within the District during any year between annexation of the District and dissolution of the District shall not exceed an amount greater than the City's ad valorem tax upon such property. As between-the City and the District, the District shall be entitled to levy and collect an ad valorem tax which, when added to the projected revenues of the District for the next year, will yield an amount sufficient to meet all financial obligations of the District and provide a contingency fund equal to 10% of the revenues projected to be required the next year to meet the District's obligations and operating costs after taking into account any surplus or contingency fund that will be carried into the next year. The City shall be entitled to levy and collect an ad valorem tax which, when added to that which the District is entitled to levy and collect, shall not cause the total ad valorem taxes on taxable property within the District to exceed the limitation set forth above. It is provided, howeve r, that if the foregoing limitation upon the total amount of ad valorem taxes shall be declared invalid by a court of competent jurisdiction and no appeal is or can be taken from that decision, then such limitation shall not apply and the City and the District may each levy such ad valorem taxes as may be authorized by law. (3) During the period following annexation but preceding dissolution of the District, the District shall, to the extent permitted by law, be responsible for providing water and wastewater service to the residents of the District in the manner such services were previously provided and as described in this Agreement. The City shall be responsible for '(he provision of all other municipal services, including maintenance of parks and recreational areas, to residents of the District until dissolution of the District, at which time the City shall become responsible for the provision of all municipal services to residents of the Di strict. (4) The District may be dissolved, whereupon the City shall succeed to all the remaining properties, powers, duties, assets, debts, liabilities, and obligations of the District: (i) upon the retirement of the District's bonded indebtedness or (ii) at any time after the expiration of ten (10) years from the date of the election confirming the creation of the District, A:SMMUD1.3-11 (1/22/86)