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INTRODUCTION <br /> Capitalized terms used in this 2023 Annual Service Plan Update shall have the meanings set forth <br /> in the 2021 Service and Assessment Plan (the "2021 SAP"), used for the issuance of PID Bonds. <br /> On May 4, 2021, the City Council approved Resolution No. 2021-91R, creating the PID in <br /> accordance with the PID Act to finance certain Authorized Improvements for the benefit of <br /> certain property within the PID. <br /> On December 15, 2021, the City Council approved the Original SAP and levied $14,000,000 in <br /> Assessments to finance the Authorized Improvements to be constructed for the benefit of the <br /> Assessed Property within the PID by approving Ordinance No. 2021-97. The Original SAP <br /> identified the Authorized Improvements to be provided by the PID, the costs of the Authorized <br /> Improvements, the indebtedness to be incurred for the Authorized Improvements, and the <br /> manner of assessing the property in the PID for the costs of the Authorized Improvements. The <br /> City also adopted an Assessment Roll identifying the Assessment on each Lot within the PID, <br /> based on the method of assessment identified in the Original SAP. <br /> On September 20, 2023, the City Council approved the 2022 Annual Service Plan Update for the <br /> PID by Ordinance No. 2022-81, which updated the Assessment Roll for 2022. <br /> The 2021 SAP identified the Authorized Improvements to be constructed for the benefit of the <br /> Assessed Parcels within the PID,the costs of the Authorized Improvements, the indebtedness to <br /> be incurred for the Authorized Improvements, and the manner of assessing the property in the <br /> PID for the costs of the Authorized Improvements. Pursuant to the PID Act, the 2021 SAP must <br /> be reviewed and updated annually.This document is the Annual Service Plan Update for 2023. <br /> The City Council also adopted an Assessment Roll identifying the Assessments on each Lot within <br /> the PID, based on the method of assessment identified in the 2021 SAP.This 2023 Annual Service <br /> Plan Update also updates the Assessment Roll for 2023. <br /> WHISPER SOUTH PUBLIC IMPROVEMENT DISTRICT 1 <br /> 2023 ANNUAL SERVICE PLAN UPDATE <br />