Ord 1973-018 - Laserfiche WebLink

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I I I ~ stabil ized sub-base as specified, compacted flexible base as specified, and one and one-quarter inch hot mix asphalt paving, all as specified in the official plans and specifications; and all improvements to be made shall be of such nature and type of construction as will show in the plans and specifications prepared by the Consulting Engineers of the Ctiy. SECTION 3. The City Manager is hereby authorized and directed to advertise for bids for the improvements work herein described, the advertising, receiving and opening of such bids to be as provided by the Charter of the City of San Marcos and Laws of the State of Texas. The City Manager is further authorized to direct the preparation of Engineering estimates, the assessment roll and certificates of assess- men t. SECTION 4. That in providing for and making the improvements hereby ordered, this City Council deems it advisable and hereby elects and determines to proceed under and by the exercise of the powers, terms and provisions contained in Chapter 106 of the Acts of the First Called Session of the 40th Legislature of the State of Texas, as amended, the same being codified as Article 1105b, Vernon's Revised Civil Statutes of Texas. Special Assessments for the property owners' portion of the cost of such improvements shall be levied in accordance with said law. SECTION 5. The cost of the improvements shall be paid for as follows: 1. All property zoned "R-l" (single family residential) or "R-2" (two family residential), as defined by the General Zoning Ordinance (Appendix A of the Code of Ordinances of the City of San Marcos), and abutting on the streets or avenues or portions thereof within the 1 imits hereinabove defined, and the real and true owners thereof, shall have assessed against them $4.50 per front foot in accordance with the front foot plan or rule for the cost of constructing such street improvements here- inabove described. 2. All property zoned other than "R-]" (single family residential) or "R-2" (two family resIdential), as defined by the General Zoning Ordinance (Appendix A of the Code of Ordinances of the City of San Marcos), and abutting on the streets:or avenues or portions thereof within the limits hereinabove defined, and the real and true owners thereof, shall have assessed against them $6.50 per front foot in accordance with the front foot plan or rule for the costs of constructing such street improve- ments hereinabove described. 3. The City of San Marcos shall pay all of the remainder of the cost of said improvements after deducting the amounts herein specified to be assessed against the abutting properties and the real and true owners thereof. The City will pay the entire cost of associated drainage. There is included within the meaning of the term "costs" or "costs of the improvements" or "costs of the remaining improvements", when such terms are used here- in, the engineering, fiscal, (administrative) legal fees and all other costs and expenses incident to the construction of the improvements. SECTION 6. The amounts payable by the abutting properties and by the real and true owners thereof and assessed against such properties and the real and true owners thereof shall constitute a personal liabi! ity of the real and true owners of such properties, and shall be secured by a first and prior lien upon such properties, which 1 ien shall be prior to all other liens and claims except those securing the payment of State, CIty, School District and County ad valorem taxes; and shall be payable as follows to-wit: When the improvements have been completed and have been accepted by the City, the amounts payable by or assessed against,bhe properties abutting on the streets or avenues or portion thereof and against the real and true owners thereof shall be and become due in three (3) equal (or as nearly equal as possible) installments as follows: The first of said installments shall be due and payable on or before thirty (30) days from the date of completion of such Improvements and their acceptance by the City, and the two (2) remaining installments shall be due and payable one and two years from the date of the completion of the improvements and their acceptance by the City. Interest on each assessment shall run on the unpaid principal balance from the date of acceptance of the improvements by the City until maturity or due date of each installment at the rate of EIGHT PER CENT (8%) per annum, which interest shall be payable at the time the principal installments become due as above set out (or at the time of payment of such installments in the event of prepayment), provided, however, that after the maturity of an installment of principal or interest, unpaid matured principal and interest, either or both (if any) shall bear interest after maturity at the rate of TEN PER CENT (10%) per annum. Any such installment may be paid at any time before maturity by the payment of the principal and accrued interest thereon. If default is made in the payment of any installment of principal or interest when due, then at the option of the City, the entire principal amount of such assessment, -2-