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

Home Browse Search

WHEREAS, the Updated Service and Assessment Plan covers a period of at least five years and defines the annual indebtedness and projected costs for the Public Improvements and Annual Collection Costs; WHEREAS, the Updated Service and Assessment Plan apportions the cost of the Public Improvements and Annual Collection Costs to be assessed against property in the District and such apportionment is made on the basis of special benefits accruing to the property because of the Public Improvements and Annual Collection Costs; WHEREAS,all of the real property in the District which is being assessed in the amounts shown in the Updated Assessment Roll will be benefitted by the services and improvements proposed to be provided through the District in the Updated Service and Assessment Plan, and each parcel of such real property will receive special benefits in each year equal or greater than each Annual Installment and will receive special benefits during the term of the Assessments equal to or greater than the total amount assessed; WHEREAS,the method of apportionment of the cost of the Public Improvements,Annual Collection Costs, and Annual Installments associated with the Public Improvements set forth in the Updated Service and Assessment Plan results in imposing equal shares of the costs of the Public Improvements and Annual Collection Costs 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 Assessments and the Annual Installments, interest and penalties on delinquent Assessments and Annual Installments and procedures in connection with the imposition and collection of the Assessments should be approved and will expedite collection of the 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 Additional 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 OF SAN MARCOS THAT: 3