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“Annual Collection Costs”means the administrative, organization, maintenance and
<br />operation costs and expenses associated with, or incident to, the administration,
<br />organization, maintenance and operation of the PID, including, but not limited to, the costs
<br />of (i) legal counsel, engineers, accountants, financial advisors, investment bankers or other
<br />consultants and advisors, (ii) creating and organizing the PID and preparing the Assessment
<br />Roll, (iii) computing, levying, collecting and transmitting the Assessments or the Annual
<br />Installments thereof, (iv) maintaining the record of installments, payments and reallocations
<br />and/or cancellations of the Assessments, (v) issuing, paying and redeeming the PID Bonds,
<br />(vi) investing or depositing the Assessments or other monies, (vii) complying with the PID
<br />Act with respect to the PID Bonds, (viii) paying the paying agent/registrar’s and trustee’s
<br />fees and expenses (including the feesand expenses of its legal counsel) related to the PID
<br />Bonds, and (ix) administering the construction of the Public Improvements.
<br />“Annual Installment”means, with respect to each Parcel, each annual payment of: (i) the
<br />Assessment(including the principal of and interest on), as shown on the Assessment Roll
<br />attached hereto as Appendix A, as applicable, and calculated as provided in Section VI, (ii)
<br />Annual Collection Costs, and (iii) theAdditional Interest.
<br />“Annual Service Plan Update”means any update to this SAP.
<br />“Assessed Property”or“Assessed Properties”means property on which Assessments
<br />have been levied as shown on the Assessment Roll (as the same may be updated each year
<br />by anAnnual Service Plan Update) and which includes any and all Parcels within the PID
<br />other than Non-Benefited Propertyand the Elementary School Site.
<br />“Assessment(s)”means the assessments levied against Assessed Property in the PID, as
<br />provided for in the applicable Assessment Ordinance, including the Initial Assessments, the
<br />Additional Special Assessments, and any supplemental assessments or reallocation of
<br />assessments levied in accordance with Sections 372.019 and 372.020 of the PID Act.
<br />“Assessment Ordinance”means each ordinance adopted by the City Council levying the
<br />Assessments, including Ordinance 2016-42 levying the Initial Assessments, andOrdinance
<br />2018-38, as amended and restated by Ordinance 2018-__,levying the Additional
<br />Assessments, and anyfuture ordinancelevying Assessments.
<br />“Assessment Roll”means the Assessment Roll included in this SAP as Appendix A, which
<br />may be updated, modified or amended from time to time in accordance with the procedures
<br />set forth herein and in the PID Act, including updates prepared in connection with the
<br />issuance of PID Bondsor in connection with any Annual Service Plan Update.
<br />“Bond Issuance Costs”mean the costs associated with issuing PID Bonds, including but not
<br />limited to attorney fees, financial advisory fees, consultant fees, appraisal fees, printing costs,
<br />publication costs, City costs, capitalized interest, reserve fund requirements, first year
<br />Annual Collection Costs, underwriter’s discount, fees charged by the Texas Attorney General,
<br />and any other cost or expense directly associated with the issuance of PID Bonds.
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