Ord 2018-038/approving an update to the service and assessment plan for the Trace Public Improvement District; making a finding of special benefit to the property in the district; levying additional special assessments against property within the district

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“Parcel” means a property identified by either a tax map identification number assigned by the Hays County Appraisal District for real property tax purposes, by metes and bounds description, by lot and block number in a final subdivision plat recorded in the official public records of the County, or by any other means determined by the City. “Phase 1” means the property contained within the Trace Subdivision Section A, PA 1A Phase A-1 Final Plat attached hereto as Appendix H and the property contained within the Trace Subdivision Section A, PA 2A Phase A Final Plat attached hereto as Appendix I. “PID” means the Trace Public Improvement District created by the City pursuant to Resolution No. 2015-145R approved on October 20, 2015. “PID Act” means Chapter 372 of the Texas Local Government Code, as amended. “PID Bonds” means the 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 Assessed Property within the PID, which may include funds for any required reserves and amounts necessary to pay the PID Bonds issuance cost, and to be secured by the revenues and funds pledged under an Indenture, consisting primarily of the Assessments, pursuant to the authority granted in the PID Act, and as described by this 2018 SAP for the purposes of (i) financing the costs of Public Improvements and related costs and (ii) reimbursing the Landowner for Actual Costs paid prior to the issuance of the PID Bonds. This term is also used to collectively refer to the Initial PID Bonds and any Additional PID Bonds throughout this 2018 SAP. “PID Financing Agreement” means that certain financing agreementAmended and Restated Trace Public Improvement District Financing Agreement between the Highpointe Trace, LLCLandowners and the City approved by Resolution No. 2015-146R on October 20, 2015September 18, 2018, as may be amended from time to time. “Prepayment Costs” mean interest and expenses to the date of prepayment, plus any additional expenses related to the prepayment, reasonably expected to be incurred by or imposed upon the City as a result of any prepayment of an Assessment and the PID Bonds secured by such Assessment. “Property” means the approximately 417.63 acres of property depicted and described by metes and bounds on Exhibit A to Resolution No. 2015-146R as adopted by City Council on October 29, 2015. The Property is located within the City and is legally described in Appendix B to this 2018 SAP and is depicted in Table II.A of this 2018 SAP. “Public Improvements” mean the improvements permitted by the PID Act and designed, constructed, and installed in accordance with this 2018 SAP for which Assessments are levied against the Assessed Property that receives a special benefit from such improvement and depicted in Appendix D. 6