Res 2026-120 Determining costs of the proposed public improvements in the River Bridge Ranch Public Improviment District

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RESOLUTION NO. 2026-120 A RESOLUTION OF THE CITY OF SAN MARCOS, TEXAS, DETERMINING COSTS OF THE PROPOSED PUBLIC IMPROVEMENTS IN THE RIVER BRIDGE RANCH PUBLIC IMPROVEMENT DISTRICT, APPROVING A PROPOSED ASSESSMENT ROLL FOR IMPROVEMENT AREA #1, AND MAKING RELATED FINDINGS AND DETERMINATIONS, IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS LOCAL GOVERNMENT CODE WHEREAS,the City of San Marcos,Texas(the"City"),is authorized under Chapter 372 of the Texas Local Government Code, as amended (the "Act"),to create a public improvement district; WHEREAS, the Mayan at San Marcos River, LLC (the "Original Owner"), previously submitted and filed with the City Clerk of the City a petition(the"Petition")requesting the establishment of a public improvement district to be known as River Bridge Ranch Public Improvement District; WHEREAS, after providing all notices required by the Act and the Texas Government Code Chapter 551, the City Council on October 29, 2020 conducted a public hearing to consider comments for and against the creation of the District (defined below) and the advisability of the proposed public improvements and, after closing the public hearing,passed and approved Resolution No. R-2020-233R (as amended, the "PID Creation Resolution") authorizing creation of the River Bridge Ranch Public Improvement District,on October 29,2020 ("District"); WHEREAS,in accordance with Section 372.010 of the Act in effect at that time,the resolution creating the District was published on November 10,2020 in the San Marcos Daily Record,a newspaper of general circulation within the City; WHEREAS, on even date herewith, the City Council approved Resolution No. 2026- approving an amendment to the District's boundaries and the estimated costs of the Authorized Improvements(as defined below); WHEREAS, the City has reviewed the 2026 Preliminary Service and Assessment Plan (the "SAP")attached to this Resolution as "Exhibit A" and the Proposed Assessment Roll for Improvement Area #1 (as defined in the SAP) attached as "Exhibit F-1" to such SAP (the "Proposed Assessment Roll"); WHEREAS, in accordance with Section 372.016 of the Act, the City Council desires to make certain determinations and findings with regard to the total cost of the "Authorized Improvements" set forth in the SAP; WHEREAS, in accordance with Section 372.016 of the Act, the City Council also desires to approve the Proposed Assessment Roll and cause the Proposed Assessment Roll to be filed with the City Clerk,and to direct the City Clerk to make the Proposed Assessment Roll available for public inspection and publish notice of the City Council's intention to consider the proposed assessments on Improvement Area#1 within the District at a public hearing,all in accordance with the requirements of the Act. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,TEXAS,THAT: Sari Marcos River Bridge Ranch PID'SARB 2026 1 Cost Det Res