Res 2017-139/Whisper finance agreement

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"Lot" means (i) for any portion of the Property for which a subdivision plat has been recorded in the official public records of the County, a tract of land described as a "lot" in such subdivision plat, and (ii) for any portion of the Property for which a subdivision plat has not been recorded in the official public records of the County, a tract of land anticipated to be described as a "lot" in a final recorded subdivision plat. "Lot Type" means a classification of final building Lots with similar characteristics (e.g. commercial, light industrial, business park, single family residential, etc.), as determined by the Administrator and confirmed by the City Council. "Non -Benefited Property" means Parcels within the boundaries of the District that accrue no special benefit from the Public Improvements, property, real property, right of way and easements located within the boundaries of the PID that is owned by or irrevocably offered for dedication to the federal government, the State of Texas, the County, the City, a school district, a public utility provider or any other political subdivision or public agency, whether in fee simple, through an exclusive use easement, plat, or a public utility easement.. Property identified as Non -Benefited Property at the time the Special Assessments (i) are imposed or (ii) are reallocated pursuant to a subdivision of a Parcel is not assessed. Assessed Property converted to Non -Benefited Property, if the Special Assessments may not be reallocated pursuant to Section VI.D or Section VI.E, remains subject to the Special Assessments and requires the Special Assessments to be prepaid as provided for in Section VI.E. "Parcel" means a property identified by a tax map identification number assigned by the Hays County Appraisal District for real property tax purposes. "PID" means the Whisper Public Improvement District created by the City pursuant to Resolution No. 2014-143R approved October 6, 2014. "PID Act" means Chapter 372 of the Texas Local Government Code, as amended. "PID Bonds" means the special assessment revenue bonds to be issued by the City, in one or more series, to finance the Public Improvements that confer special benefit on the land within the PID, which may include funds for any required reserves and amounts necessary to pay the PID Bond issuance costs, and to be secured by the revenues and funds pledged under an Indenture, consisting primarily of the Special Assessments, pursuant to the authority granted in the PID Act, and as described by the PID Finance Agreement for the purposes of (i) financing the costs of Public Improvements and related costs and (ii) reimbursing Whisper Master Community Limited Partnership for Actual Costs paid prior to the issuance of the PID Bonds. This term is used to collectively refer to the PID Bonds. "PID Finance Agreement" means the Whisper Public Improvement District Financing Agreement approved by the City on 2017. E