Ord 2016-042/approving a service and assessment plan for the Trace Public Improvement District; making a finding of special benefit to the property in the district; levying special assessments against property within the district; establishing a lien on s

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ORDINANCE NO. 2016-42 AN ORDINANCE OF THE CITY OF SAN MARCOS APPROVING A SERVICE AND ASSESSMENT PLAN FOR THE TRACE PUBLIC IMPROVEMENT DISTRICT; MAKING A FINDING OF SPECIAL BENEFIT TO THE PROPERTY IN THE DISTRICT; LEVYING SPECIAL ASSESSMENTS AGAINST PROPERTY WITHIN THE DISTRICT; ESTABLISHING A LIEN ON SUCH PROPERTY; APPROVING AN ASSESSMENT ROLL FOR THE DISTRICT; PROVIDING FOR PAYMENT OF THE SPECIAL ASSESSMENTS IN ACCORDANCE WITH CHAPTER 372, TEXAS LOCAL GOVERNMENT CODE; PROVIDING FOR THE METHOD OF ASSESSMENT AND THE PAYMENT OF THE SPECIAL ASSESSMENTS; PROVIDING FOR PENALTIES AND INTEREST ON DELINQUENT ASSESSMENTS; PROVIDING FOR A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE; AND PROVIDING FOR RELATED MATTERS. WHEREAS, a petition (the "Petition") was submitted and filed by JOQ — San Marcos Ventures, L.P. (the"Petitioner"), with the City Clerk of the City of San Marcos, Texas (the"City"), pursuant to the Public Improvement District Assessment Act, Chapter 372, Texas Local Government Code("PID Act"), requesting creation of a public improvement district over a portion of the area of the City known as the Trace Public Improvement District (the "District"); WHEREAS, the Petition contained the signatures of the owners of taxable property representing more than fifty percent of the appraised value of taxable real property liable for assessment within the District, as determined by the then-current ad valorem tax rolls of the Hays County Appraisal District and the signatures of property owners who own taxable real property that constitutes more than fifty percent of the area of all taxable property that is liable for assessment by the District; WHEREAS, Highpointe Trace, LLC, a California limited liability company (the "Landowner"), purchased all of the property within the District from the Petitioner and is the current owner of said property; WHEREAS, after publishing, mailing, and otherwise providing all notices required by the PID Act and state law, on September 1, 2015 the City Council of the City (the "City Council") held the public hearing to consider the creation of the District; WHEREAS, after all persons having an interest in the creation of the District were given an opportunity to be heard, the City Council closed the public hearing; WHEREAS, on October 20, 2015 by Resolution No. 2015-145R the City Council authorized the creation of the District; WHEREAS, on March 27, 2016, the City published notice of its authorization of the District in the San Marcos Daily Record, a newspaper of general circulation in the City;