Res 2018-139/Public Hearing on Resolution 2018-139R, approving a notice of the 2018 amended and restated service and assessment plan with Highpointe Trace, LLC. in connection with the Trace Public Improvement District

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Section I PLAN DESCRIPTION AND DEFINED TERMS Introduction A. On October 20, 2015, (the “Creation Date”), the City Council (the "City Council") of the City of San Marcos, Texas (the "City") approved Resolution No. 2015-145R, which authorized the creation of the Trace Public Improvement District (the “PID”) to finance the Actual Costs of the Public Improvements for the benefit of certain property in the PID, all of which is located within the city limits of the City. Chapter 372 of the Texas Local Government Code (as amended, the “PID Act”), governs the creation and operation of public improvement districts within the State of Texas. This 2018 Amended and Restated Service and Assessment Plan (the “2018 SAP”) was prepared pursuant to the PID Act. The PID Act requires that a service plan cover a period of at least five years and must also define the annual indebtedness and the projected costs for improvements. The PID Act also requires a service plan be reviewed and updated annually for the purpose of determining the annual budget for improvements. The service plan for the PID is described in more detail in Section V herein. The Assessment Roll for the PID is attached hereto as Appendix A, and is addressed in Section VII of this 2018 SAP. The Special Assessments as shown on the Assessment Roll are based on the method for establishing and levying the Special Assessment described in Sections IV and VI of this 2018 SAP. Definitions B. “2018 SAP” means this 2018 Amended and Restated Trace Public Improvement District Service and Assessment Plan (as such plan is amended, supplemented or updated from time to time) approved by the City Council by an Assessment Ordinance. “Acquisition and Reimbursement Agreement” means (whether one or more) an agreement that provides for construction and dedication of a Public Improvement to the City prior to the Landowner being paid out of the applicable Major Improvement PID Bonds proceeds, whereby all or a portion of the Actual Costs will be paid to Landowner initially from Special Assessments (and ultimately from the applicable Major Improvement PID Bonds) to reimburse the Landowner for Actual Costs paid by the Landowner that are eligible to be paid with PID Bond proceeds. The form of Acquisition and Reimbursement Agreement shall be reasonably acceptable to both City and Landowner and substantially in accordance with the form from the PID Financing Agreement – Exhibit “H”. It is intended that Acquisition and Reimbursement Agreements will be used in connection with the Initial Major Improvement PID Bonds and the Additional Major Improvement PID Bonds. “Actual Cost(s)” means, with respect to the Public Improvements, the Landowner’s demonstrated, reasonable, allocable, and allowable costs of constructing such Public 2