Res 2018-119/approving a contract to P3Works for consulting and administrative services for Trace Public Improvement District

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AGREEMENT FOR PUBLIC EMPROVEMENT DISTRICT ADAI NISTRATION SERVICES This Agreement for Public Improvement District Administration Services ("Agreement") is entered into this 19th day of June , 2018, by and between P3Works, LLC ("P3Works"), and the City of San Marcos, Texas ('City"). RECITALS WHEREAS, the City Council passed Resolution No.2015-145R on October 20, 2015, approving and authorizing the creation of the Trace Public Improvement District ("PID" or "District") to finance the costs of certain public improvements for the benefit of property within the District; and WHEREAS, the City may consider issuing bonds to fund certain improvements in the PID as authorized by the Public Improvement District Assessment Act, Texas Local Government Code, Chapter 372, as amended; and WHEREAS, the City requires specialized services related to the revision and updating of the Service and Assessment Plan ("Service and Assessment Plan"), bond issuance, and the administration of the District, as more fully set forth in this Agreement; and WHERF,AS, P3 Works has the expertise to properly establish and administer the District and ensure compliance wiih Texas Local Government Code Chapter 372; and WHEREAS, the City desires to retain P3 Works to provide District administration services; NOW THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, and for good and valuable consideration, P3Works and the City agree as follows: EV14I CO TERM OF AGREEMENT 1.0 The Agreement shall be effective as of its approval by all parties and shall be for a period of three (3) years and shall automatically continue on a year to year basis until terminated pursuant to Article V of this Agreement. ARTICLE H SERVICES TO BE PROVIDED BY P3 WORKS 2.0 The scope and timing of services to be performed by P3Works are set forth in Exhibit A, which is attached hereto and incorporated into this Agreement by this reference.