Res 2016-149/Approving an Acquisition and Reimbursement Agreement between the City of San Marcos and Highpointe Trace, LLC for the Trace Public Improvement District (PID)

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RESOLUTION NO. 2016-149R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS APPROVING AN ACQUISITION AND REIMBURSEMENT AGREEMENT WITH HIGHPOINTE TRACE, L.L.C. IN CONNECTION WITH THE TRACE PUBLIC IMPROVEMENT DISTRICT; AUTHORIZING THE CITY MANAGER TO EXECUTE SAID DOCUMENT ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. RECITALS: WHEREAS, the City Council of the City of San Marcos (City Council) adopted Resolution No. 2015 -145 creating the Trace Public Improvement District on October 20, 2015; WHEREAS, the City Council adopted Resolution No. 2015 -146 approving a Financing Agreement, Service and Assessment Plan and Reimbursement Agreement relating to the Trace Public Information District on October 20, 2015. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The attached Acquisition and Reimbursement Agreement with Highpointe Trace, L.L.C. in connection with the Trace Public Improvement District is hereby approved. PART 2. The City Manager is authorized to execute the document on behalf of the City. PART 3. This Resolution shall be in full force and effect immediately from and after its passage. ADOPTED on October 18, 2016. 1 aniel Gue o Mayor Attest: Jamie e Case City C1 k