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Memo to Mayor and Council Subject Lowman Ranch MUD Dated January 30, 1987 Page 2 The following items are believed to be significant issues for which the staff should receive direction from the Council at its meeting on Monday, February 2. 2. 1. Section 1.O4--The staff previously objected that this section was too board in that it provides that no matter what LRL does, the City will never interpret any thing in this agreement in such a way that LRL or the district will be delayed or stopped from continuing development. I repeat my comment from the earlier memo: "If LRL or the district does not lìve up to its commitments under this agreement, then development within the district should be delayed or stopped until compliance with the agreement is achieved." In addition, the staff requested that the word "unnecessarily" be inserted before the word "delay" in the last sentence of this section. Section 2.02--This section was modified since the last draft to provide for 10 working days review by the City. The staff continues to object to the City being excluded from the its right of approval of bond issues which is a requirement of the City's utility district ordinance. 3. Section 2.04(c) permits maximum bonding authority for the district. This is a major issue which should be decided by the Council: should the district be allowed to bond finance everything which the Texas Water Commission will allow it to bond finance? 4. Section 3.01 raises the question concerning the value of the LUE's which will be owned by LRL in the district in the regional facilities: do the amounts of money paid by LRL and/or the district for regional facilities equal the per unit value (based on current cost of $2,000 each) of the total number of LUE's that they will own? 5. Sections 3.04 and 3.05 relate back to the question of whether or not the district should be allowed to bond everything that the Water Commisison will allow it to bond. In this case the agreement allows them to bond all internal water and wastewater lines. 6. Section 4.01 was not modified as staff requested to provide that the City shall have approval authority over any park or recreational facilities which are built, apart from any parkland that is dedicated to the City, so that the City can assure that duplication of such facilities will be avoided.