Res 2026-118 Approving an amendment to the River Bridge Ranch Public Improvment District with the City of San Marcos pursuant to chapter 372, Texas Local Government code

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CITY OF SAN MARCOS RESOLUTION NO. 2026-118 A RESOLUTION OF THE CITY OF SAN MARCOS,TEXAS,APPROVING AN AMENDMENT TO THE RIVER BRIDGE RANCH PUBLIC IMPROVEMENT DISTRICT WITHIN THE CITY OF SAN MARCOS PURSUANT TO CHAPTER 372, TEXAS LOCAL GOVERNMENT CODE; PROVIDING PROPER NOTICE & MEETING; AND PROVIDING AN EFFECTIVE DATE WHEREAS, Chapter 372 of the Texas local Government Code (the "Act") authorizes the creation of public improvement districts; WHEREAS, on October 8, 2020, the Mayan at San Marcos River, LLC (the "Original Owner"), submitted and filed with the City Clerk of the City (the "City Clerk") a petition (the "Original Petition") requesting the establishment of a public improvement district to be known as River Bridge Ranch Public Improvement District (the "District") over approximately 563.797 acres of land located within the City (the "Original Property"); WHEREAS, the Original Petition was executed by the owners of taxable real property representing more than fifty percent (50%) of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current roll'of the appraisal district in which the property is located, and, who (i) constitute more than fifty percent (50%) of all record owners of property that is liable for assessment under the proposal, or(ii)own taxable real property that constitutes more than fifty percent (50%) of the area of all taxable real property that is liable for assessment under the proposal; 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; WHEREAS, after providing all notices required under Section 372.009 of the Act, the City Council of the City (the "City Council") on October 29, 2020, conducted a public hearing on the advisability of the proposed improvements, and subsequently passed and approved Resolution No. 2020-233R authorizing the creation of the District(the "Original Creation Resolution"); WHEREAS, on December 30, 2021, Petitioners (defined below) purchased the land within the District from the Original Owner; WHEREAS, on November 24, 2025, Lennar Homes of Texas Land and Construction, Ltd., a Texas limited partnership, (the "Petitioner") submitted and filed with the City Clerk a petition (the "Petition") requesting the amendment of the boundaries of the District to cover approximately 328.85 acres of land within the City (the "Property") and to increase the estimated costs of the public improvements for the District; WHEREAS, the Petition is executed by the owners of taxable real property representing more than fifty percent (50%) of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current roll of the appraisal district in which the property is located, and, who (i) constitute more than fifty percent (50%) of all record