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'T'lf-IY I ALLY IiFCORD & Start Marcos, `IX. m `Thursday, March 31, 2016 RESOLUTION NO. 2014-149R RESOLUTION THE CITY O AN S AUTHORIZING AND CREATING THE WHISPWHISPER PUBLIC ].nub IMPROVEMENT DISTRICT IN ACCORDANCE WITH CHAPTER 372 THE TEXAS LOCAL GOVERNMENT CODE. WHEREAS, the City of San Marcos, Texas (the "City' "), is authorized under 372 of the Texas Local Government Code, as amended (die "Act "), to create a public improvemect: AS WHEREAS, on September 25, 2014, Yatrington Partners. Ltd. ( "Yarrington " the State in of Texas, acting through the GenernL Land 'Office (`GLU ") (collectively, a Oblisfimapubl'c the ailed with the City Clerk of the, City a petition.:( "Petition ").req improvement district to be known as the Whisper Public improvement District ( "District "); WHEREAS, the Petition `indicated that (i),dic owners of more than 50/ ppraised value of the taxable real property liable for assessment and (ii) the owners of more than the area of all taxable real property liable for assessment within the District executed the Petitiosting that the governing body of the City (the "City Council") create the District; WHEREAS, the City Council has investigated and determined that the facts edlin the Petition are true and correct; WHEREAS, the District will includethe approximately 705.953 acres owned by the Owner and located within the City and the City's extraterritorial jurisdiction (the "Property'), which Property is more particularly, described and depicted on "Exhibit A" attached hereto and made a part hereof; WHEREAS, after providing all notices required -by section 372.009 of the Act, the City Council on October 6, 2014 conducted a public hearing on the advisability of the proposed improvements; WHEREAS, the City Council adjourned and closed such public hearing; and WHEREAS, on October 6, 2014, City Council passed and approved Resolution No. 2014- 143R making findings as to the advisability of the improvements proposed in the District, in accordance with Station 372.009 of the Act .WHEREAS, the City of San Marcos desires to'create a public improvement district, as an incentive, to,provide additional single family housing'options for San Marcos residents, including first time homi:buyers. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, THAT: Section 1. The findings set forth in dte rtxamis of this Resolution are hereby found to be true and correct. Section 2. The District is hereby authorized and created as a public improvement district under the Act in accordance with the findings as to the advisability of the Authorized Improvements contained in Resolution -No: 2014 -143R and the conclusion that the District is needed to fund such Authorized Improvements. Section 3. Notice of this Resolution authorizing the District shall be given by publishing ..... once . once in the City of San Marcos?, new08171 -„of;genf;ral;cirgVJp3,(f n,R' ,e bouncer ��' the publicafo n of such nouce such authorization shall take effect and the District shall be establish Section 5. This Resolution shall take effect,intmediately' from and after its passage and publication as required by law. PASSED AND APPROVED on this 21' day of October, 2014. THE CITY'OF SAN MARCOS, TEXAS s/ Daniel gMerrero Daniel Guerrero. Mayor ATTEST: s 1 Jamie L,ee Pettiiohn — Jamie LeePettijohn, City Clerk