Res 2015-116/(PH) making findings as to the advisability of the improvements proposed in the Trace Public Improvement District in accordance with Chapter 372 of the Texas Local Government Code.

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RESOLUTION NO. 2015-116 A RESOLUTION OF THE CITY OF SAN MARCOS, TEXAS, MAIGNG FINDINGS AS TO THE ADVISABILITY OF THE IMPROVEMENTS PROPOSED IN THE TRACE PUBLIC IMPROVEMENT DISTRICT IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS LOCAL GOVERNMENT CODE. WHEREAS, the City of San Marcos, Texas (the "City"), is authorized under Chapter 372 of the Texas Local Government Code, as amended (the "Act "), to create a public improvement district; WHEREAS, on June 4, 2015, Highpointe Investments, Inc. ( "Highpointe "), submitted and filed with the City Clerk of the City a petition ( "Petition ") requesting the establishment of a public improvement district to be known as the Trace Public Improvement District ( "District "); WHEREAS, the Petition indicated that (i) the owners of more than 50% of the appraised value of the taxable real property liable for assessment and (ii) the owners of more than 50% of the area of all taxable real property liable for assessment within the District executed the Petition requesting that the governing body of the City (the "City Council ") create the District; WHEREAS, the City Council has investigated and determined that the facts contained in the Petition are true and correct; WHEREAS, the District will include the approximately 417.630 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 September 1, 2015 conducted a public hearing on the advisability of the proposed improvements; and WHEREAS, the City Council adjourned and closed such public hearing. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, THAT: Section 1. The findings set forth in the recitals of this Resolution are hereby found to be true and correct. Section 2. The Petition submitted to the City by the Owner was filed with the City Clerk of the City and complies with Subchapter A of the Act. Section 3. Pursuant to the requirements of the Act, including, without limitation, Sections 372.006, 372.009(a), and 372.009(b), the City Council, after considering the Petition and the