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Section I <br />PLAN DESCRIPTION AND DEFINED TERMS <br />Introduction <br />A. <br />On October 20, 2015, (the “Creation Date”),the CityCouncil (the "City Council")of the City <br />of San Marcos, Texas (the "City") approved Resolution No. 2015-145R, which authorized the <br />creation of the TracePublic Improvement District (the “ <br />PID”) to finance the Actual Costs of <br />the Public Improvements for the benefit of certain property in the PID, all of which is located <br />within the city limits of the City. <br />On October 18, 2016, the City Council approvedand adoptedOrdinance No. 2016-42, which <br />approved a Service and Assessment Plan (the <br />“Original SAP”) for the PID and levied <br />$11,175,000 in assessments on property within the PID. <br />On October 16, 2018, the City Council approved and adopted Ordinance No. 2018-38(the <br />“2018 SAP”), which approved an Amended and Restated Service and Assessment Plan for <br />the PID and levied $10,925,000 in additional assessments on property within the PID, which <br />was amended and restated by Ordinance 2018-__ dated December 12, 2018. <br />Chapter 372 of the Texas Local Government Code (as amended, the “PID Act”), governs the <br />creation and operationof public improvement districts within the State of Texas. The <br />Original SAP, as amended and restated by 2018 SAP, and as may be further updated, <br />supplemented and amended from time to time, isthe “SAP”. The PID Act requires that a <br />service plan cover a period ofat leastfive years and must also define the annual indebtedness <br />and the projected costs for improvements.The PID Act also requires aservice plan be <br />reviewed and updated annually for the purpose of determining the annual budget for <br />improvements.The service plan for the PID is described in more detail inSection Vherein. <br />The Assessment Roll for the PID is attached hereto as Appendix A, and is addressed in <br />Section VII. The Assessments as shown on the Assessment Roll are based on the method for <br />establishing and levying the Assessmentsdescribed in Sections IVandVIof thisSAP. <br />Definitions <br />B. <br />“2018 SAP”means the 2018 Amended and Restated Trace Public Improvement District <br />Service and Assessment Planapproved by the City Council by an Assessment Ordinance <br />2018-38dated October 16, 2018. <br />“Acquisition andReimbursement Agreement”means the Amended and Restated Trace <br />Public Improvement District Reimbursement Agreement executed between the Cityand <br />Highpointe Trace, LLC, a California limited liability company (including its successors and <br />assigns) effective as of September 18, 2018. <br />1 <br /> <br />