Ord 2018-051/approving an amended and restated Ordinance of the City of San Marcos approving an update to the service and assessment plan for the Trace Public Improvement District

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“Lot Type” means a classification of final building Lots with similar characteristics (e.g. commercial, light industrial, multifamily residential, single family residential, etc.), as determined by the Administrator and confirmed by the City Council. In the case of single family residential Lots, the Lot Type shall be further defined by classifying the residential Lots based on the estimated buildout valueof the Lot, as determined by the Administrator and confirmed by the City Council. “Lot Type 1”means a Lot within Phase 1designated as a 32’/34’ alley lot. “Lot Type 2”means a Lot within Phase 1designated as a 41’ alley lot. “Lot Type 3”means a Lot within Phase 1designated as a 50’ lot. “Non-Benefited Property”means Parcels within the boundaries of the Propertythat accrue no special benefit from the Public Improvements. Property identified as Non-Benefited Property at the time the Assessments(i) are imposed or (ii) are reallocated pursuant to a subdivision of a Parcel is not assessed. Assessed Property converted to Non-Benefited Property, if the Assessments may not be reallocated pursuant to Section VI.CorSection VI.D, remains subject to the Assessments and requires the Assessments to be prepaid as provided for in Section VI.E. “Original SAP”means the Trace Public Improvement District Service and Assessment Plan approved by the City Council by an Assessment Ordinance 2016-42 dated October 18, 2016. “Parcel”means a property identified by either a tax map identification number assigned by theHays 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 theCounty, or by any other means determined by the City. “Phase1”meansthe platted property contained within the Trace Subdivision Section A, PA Appendix Hand the property contained within 1A Phase A-1 Final Plat attached hereto as 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 October20, 2015. “PID Act” means Chapter 372 of the Texas Local Government Code, as amended. “PID Bonds”means the Assessmentrevenue 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 paythe PID Bondsissuance 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, for the purposes of (i) financing the costs of Public Improvements and related costs and (ii) reimbursing the Landowner for Actual Costs paid 5