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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Section V SERVICE PLAN The PID Act requires a service plan to(i) cover a period of at least five years, and (ii) define the annual projected costs and indebtedness for the Public Improvements undertaken within the PID during the five year period. The estimatedcost for the Public Improvementsand Bond Issuance Costs is $24,818,016as shown in Table V-A.The service plan shall be reviewed and updated at least annually for purposes of determining the annual budget for Annual Collection Costs, updating the costs of the Public Improvements, and updating Assessment Roll shown on Appendix A. Table V-Asummarizes the sources and uses of funds required to construct the Public Improvements. The sources and uses of funds shown in Table V-Ashall be updated each year in the Annual Service Plan Update. TABLE V-A Sources and Uses of Funds SOURCES Initial PID Bond Par (a)$11,075,000 Reimbursement Obligation (a)10,925,000 Landowner Contribution for Elementary School (b)223,864 Landowner Contribution (c)2,594,152 $24,818,016 USES Public Improvements$22,386,420 Debt Service Reserve Fund817,100 Capitalized Interest466,996 Underwriter Discount332,250 Cost of Issuance775,250 1st Year Collection Costs40,000 $24,818,016 (a) Will be used to pay the City’s obligationsunder any PID Bondsand theAcquisition and Reimbursement Agreement. (b) Not subject to Acquisition and Reimbursement Agreement. The Landowner will pay for the Elementary SchoolSite’s allocable share of the Public Improvements rather than having an Assessment levied on the Elementary SchoolSite. (c) Not subject to Acquisition and Reimbursment Agreement.