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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forth in the Updated Service and Assessment Plan results in imposing equal shares of the costs of the Public Improvements and Administrative Expenses on property similarly benefitted, and results in a reasonable classification and formula for apportionment of such costs; WHEREAS,the Updated Service and Assessment Plan should be approved as the service plan and assessment plan for the District as described in Sections 372.013 and 372.014 of the PID Act; WHEREAS,the update to the Assessment Roll in the form attached as Appendix A to the Updated Service and Assessment Plan (the "Updated Assessment Roll") should be approved as the assessment roll for the District; WHEREAS, the provisions of the Updated Service and Assessment Plan relating to due and delinquency dates for the Special Assessments and the Annual Installments, interest and penalties on delinquent Special Assessments and Annual Installments and procedures in connection with the imposition and collection of the Special Assessments should be approved and will expedite collection of the Special Assessments in a timely manner in order to provide the services and improvements needed and required for the area within the District; and WHEREAS,the assessments herein levied and assessed are made and levied under and by virtue of the terms,powers and provisions of the PID Act. NOW THEREFORE,BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY r. OF SAN MARCOS THAT: Section 1. Findings. The findings,determinations and recitations set out in the preambles of this Ordinance are found to be true and correct and they are hereby adopted by the City Council and made a part hereof for all purposes. Section 2. Public Hearing. The action of the City Council holding and closing the public hearing in these proceedings is hereby ratified and confirmed. Further,the actions of City staff in preparing the notices described in the Recitals hereto, which were published, mailed and posted pursuant to the ND Act are hereby ratified and confirmed. Section 3. Terms. Terms not otherwise defined herein are defined in the Updated Service and Assessment Plan. Section 4. Assessment Plan. The Updated Service and Assessment Plan substantially in the form attached to this Ordinance is hereby accepted and approved pursuant to Sections 372.013 and 372.014 of the PID Act as the service and assessment plan for the District. Section 5. Assessment Roll. The Updated Assessment Roll attached as Appendix A to the Updated Service and Assessment Plan is hereby approved as the assessment roll of the District. Section 6. Levy and Payment of Special Assessments for Costs of Public I Improvements. (a) The City Council hereby levies the Additional Special Assessment on each 3