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RESOLUTION NO. 2017-140R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS APPROVING A SECOND AMENDMENT TO THE <br /> TERM SHEET ATTACHED TO RESOLUTION NO. 2014-143R <br /> REGARDING THE ADVISABILITY OF THE IMPROVEMENTS IN THE <br /> WHISPER PUBLIC IMPROVEMENT DISTRICT FOR THE PURPOSE OF <br /> EXTENDING THE DATE BY WHICH CONSTRUCTION OF THE PUBLIC <br /> IMPROVEMENTS MUST BE COMPLETED TO MAY 1, 2018 AND <br /> AMENDING THE MAXIMUM ANNUAL ASSESSMENT RATE AS AN <br /> EQUIVALENT TAX RATE FROM 50.150 PER HUNDRED DOLLARS <br /> VALUATION TO A MAXIMUM RATE OF 50.170 FOR RESIDENTIAL <br /> PROPERTY AND A MAXIMUM RATE OF 50.220 FOR NON- <br /> RESIDENTIAL PROPERTY; AND DECLARING AN EFFECTIVE DATE. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. The Term Sheet for the Whisper Texas Public Improvement District <br /> approved by Resolution No. 2014-143R and amended by Resolution No. 2015-178R is hereby <br /> amended as shown in Exhibit"A," attached hereto and made a part hereof. <br /> PART 2. All other terms and conditions of said Term Sheet shall remain the same. <br /> PART 3. This resolution shall be in full force and effect immediately from and after <br /> its passage. <br /> ADOPTED on September 5, 2017. <br /> Jo Thomaides <br /> Mayor <br /> Attest: <br /> Jamie .-e ase <br /> City Cle k <br />