Res 2025-235 accpting the amended petition and calling for a public hearing on the amendment to the River Brige Ranch PID

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PETITION TO AMEND THE BOUNDARIES AND INCREASE THE ESTIMATED COSTS OF THE PUBLIC IMPROVEMENTS FOR THE RIVER BRIDGE RANCH PUBLIC IMPROVEMENT DISTRICT THE STATE OF TEXAS CITY OF SAN MARCOS TO: THE HONORABLE MAYOR AND CITY COUNCIL OF THE CITY OF SAN The undersigned petitioner (the "Petitioner"), acting pursuant to the provisions of Chapter 372, Texas Local Government Code, as amended (the "Act"), requests that the City of San Marcos, Texas (the "City") create a public improvement district in the territory described in Exhibit A attached hereto (the "Land") within the City, and in support of this petition the Petitioners would present the following: RECITALS A. WHEREAS, on October 8, 2020, the Petitioner's predecessor -in -interest (the "Original Owners") submitted and filed with the City Clerk of the City a petition (the "Original Petition"), requesting the establishment of a public improvement district to be known as the River Bridge Ranch Public Improvement District over approximately 563.797 acres of land located within the City (the "District"); B. WHEREAS, the City agreed to authorize the creation of the District pursuant to the terms of a "Settlement Agreement" (herein so called) approved by the City Council of the City (the "City Council") pursuant to Resolution No. 2020-232R, and, as such, on October 29, 2020, the City Council passed and approved Resolution No. 2020-233R authorizing the creation of the District (the "Original Creation Resolution"); C. WHEREAS, on December 30,2021, Petitioners purchased the land within the District from the Original Owner; and D. WHEREAS, Petitioners now wish to amend the boundaries of the District to include the territory described on Exhibit A, attached hereto, and to increase the estimated costs of the public improvements to be funded by the District. NOW, THEREFORE, in support of this Petition, the Petitioner would present the following: PETITION Section 1. Standing of Petitioners. In compliance with the requirements of Texas Local Government Code, Section 372.005(b), as determined by the current tax roll of the Hays County Central Appraisal District, the Petitioners constitute: (i) the owners of taxable real property