R-96-12-12-10C - 12/12/1996RESOLUTION NO. 2- `7 /g -10C_,,
AN RESOLUTION MAKING FINDINGS AS TO THE FEASIBILITY
AND DESIRABILITY OF AN IMPROVEMENT DISTRICT TO BE
KNOWN AS THE ENCINO PLAZA PUBLIC IMPROVEMENT
DISTRICT; MAKING FINDINGS AS TO THE ADVISABILITY,
NATURE, AND ESTIMATED COSTS OF THE PROPOSED
IMPROVEMENTS AND THE METHOD OF ASSESSMENT WITHIN
THE BOUNDARIES OF THE DISTRICT; AUTHORIZING THE
DISTRICT AS A PUBLIC IMPROVEMENT DISTRICT PURSUANT TO
CHAPTER 372, SUBCHAPTER B, OF THE LOCAL GOVERNMENT
CODE; ACCEPTING AN ADVISORY BOARD REPORT; MAKING
PROVISIONS RELATED THERETO AND DECLARING AN
EFFECTIVE DATE; PROVIDING FOR A SAVINGS CLAUSE AND
REPEALING CONFLICTING ORDINANCES OR RESOLUTIONS.
WHEREAS, Chapter 372 of the Texas Local Government Code (the
"Act") authorizes the City to create public improvement districts;
and
WHEREAS, on September 12, 1996 owners of certain real
property located within the City of Round Rock, Texas delivered to
the City a First Amended Petition (the "Petition") to create Encino
Plaza Public Improvement District (the "District") the boundaries
of which are shown on the map attached hereto and made a part
hereof and marked Exhibit "A", and
WHEREAS, the City Secretary of the City of Round Rock has
received the Petition and it has been determined that the owners of
more than 50% of the appraised value of the taxable real property
and more than 50% of the area of all taxable real property within
the District have executed the Petition and that the Petition
complies with the Act and authorizes the City Council to consider
the creation of the District; and
C:\TEXT\ROUNDROC\ENCINO\RES1212.WPD/cdc
WHEREAS, the City Council appointed an Advisory Board to
investigate all matters related to the Petition and the Advisory
Board has reported thereon; and
WHEREAS, after providing all notices required by the Act, the
City Council on December 12, 1996 conducted a public hearing on the
advisability of the improvements and the creation of the District;
and
WHEREAS, the report of the Advisory Board along with the
testimony from property owners and others were considered; and
WHEREAS, the City Council adjourned such public hearing, Now
Therefore;
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
I.
That the following findings are made and declared regarding
the proposed Encino Plaza Public Improvement District:
1. The Report of the Advisory Board, attached hereto and
incorporated herein as Exhibit "B", is received and
accepted;
2. The Petition to establish the District is sufficient and
is accepted as being in compliance with the provisions of
the Act;
3. It is advisable to make the improvements set forth in the
Petition and the same will benefit the land described
therein, enhance the value thereof and be of benefit and
use to the City;
2.
4. The nature of the improvements is to provide the water,
sanitary sewer, drainage and street facilities necessary
to serve the land within the District in accordance with
the requirements therefor by the City and are generally
described in Exhibit "C" attached hereto and made a part
hereof for all purposes;
5. The estimated costs of financing all improvements to be
made in the District is $2,655,000 and such cost is a
reasonable cost for said improvements;
6. The land described in the Petition will all be benefitted
by the proposed improvements and therefore the boundaries
of the District shall be as described in Exhibit "A"
attached hereto and made a part hereof for all purposes;
7. The method of assessment shall be based upon the special
benefits which accrue to the classes of property within
the District based upon the value of the property as set
forth in Exhibit "D";
8. The costs of the improvements shall be borne entirely by
the land within the boundaries of the District and no
apportionment between the City and the District is
necessary.
II.
The Encino Plaza Public Improvement District is hereby
authorized as provided by the Act and in accordance with the
findings made in Section I hereof. Provided, however, such
authorization does not authorize Petitioner to take any action that
3.
would obligate the City in any way or cause the City to incur any
risk or cost.
This Resolution shall be published one time in the Round Rock
Leader, the official newspaper of the City, and upon such
publication authorization of the Encino Plaza Improvement District
shall become effective.
IV.
The Advisory Body for the District shall continue to meet and
advise the City Council in regard to any ongoing Service Plan or
Assessment Plan. City staff is hereby authorized to take all action
necessary to prepare a preliminary assessment roll, publish any
necessary notices, and take all other action necessary to
effectuate the purposes of this Resolution.
RESOLVED this 12th day of December, 1996
ATTEST:
E LAND, City Secretary
4.
CHARLIE CUL PEPER, Mayor
City of Round Rock, Texas
Exhibit "A"
Lots 1-2, ROUND ROCK NISSAN SUBDIVISION, recorded in Cabinet M,
Slides 323-324, Plat Records, Williamson County, Texas.
Lots 1-2, Block A, Lots 1-3, Block B, Lots 1-2, Block C, ENCINO
PLAZA SUBDIVISION, recorded in Cabinet N, Slides 272-273, Plat
Records, Williamson County, Texas.
C:\TEXT\ROUNDROC\ENCINO\EXHIBITA.WPD/cdc
Page 1 of 2 Pages
j
O
0
COt
Page 2 of 2 Pages
EXHIBIT "B"
ADVISORY BOARD REPORT
On December 6, 1996, the Advisory Board of the proposed Encino
Plaza Public Improvement District (the "District") prepared the
following report, which is to be presented to the City Council of
Round Rock, Texas on December 12, 1996.
The Board has reviewed the improvements as set forth in the
First Amended Petition filed by the property owners within the
proposed District and find that said improvements will benefit the
land within the District, will enhance the value of said land, and
will be of benefit and use to the City as a hotel facility.
The nature of the improvements is to provide water, sanitary
sewer, drainage and street facilities necessary to serve the land
within the District, in accordance with city Code requirements.
The estimated costs of financing all improvements to be made
in the District is $2,655,000 and said cost is found to be
reasonable. A copy of the proposed debt service schedule is
attached hereto as Exhibit "A".
After discussion with the property owners, a method of
assessment based upon the special benefits which accrue to the
classes of property within the District based upon the value of the
property was agreed upon. These values are as set forth in Exhibit
"B" herein.
U:\TEXT\ROUNDROC\ENCINO\REPORT.WPD/kg
In conclusion, the Board recommends that the City Council find
that the proposed Encino Plaza Public Improvement District is
feasible and desirable, and that the proposed methods of assessment
be adopted.
Charles Cros ield, ehalf
of the Encino Plaza Public
Improvement District Advisory Board
DEC -10-96 TUE 01:39 PM 'FIRST SOUTHW -" - - , 5124812010
EXHIBIT
Encino Plaza PID
Assessment Bonds, Taxable Series 1997
Non -Rated; Level Debt Service
DEBT SERVICE SCHEDULE
DATE
PRINCIPAL COUPON INTEREST
TOTAL P+I FISCAL TOTAL
2/01/1997
2/15/1997
3/01/1997
8/15/1997_
:9/30/1 :> .
2/15/1998
8/15/1998
9/30/1998
2/15/.19:..
S < 8.11511949::.::
9/30/1999
2/15/2000
8/15/2000
9/30/2000
21,1:5t2001:::
8/15/2001
9/30/2001
2/15/2002
8/15/2002
9/30/2002.:
2/15/2003
8/15/2003
9/30/2003
2/15/2004
......:8:/ /20.04
9/30/2004
2/15/2005
8/15/2005
9/30/2005
..j4.221.1540.664
8/15/2006
9/30/2006
2/15/2007
8/15/2007
9/3 !/200:7..
2/15/2008
8/15/2008
9/30/2008
2/15/2009
8/15/20.09.:
9/30/2009
2/15/2010
8/15/2010
9/30/2010
2!15%2011::
8/15/2011
9/30/2011
2/15/2012
8/15/2012. 335,000.00 10.000;
9i3bnOlt 7 ...
45:000::00:. ; '0.f
279,461.11
134,500.00
134,500 00
134,500.100. ; ..
129,750.00
105,000.00 10.000% 129,750.00
124,500.00
115,000.00 10.000% 124,500.00
118,750.00
130,000.00 10.000% 118,750 00
112,250.00
140,000.00 10.000% 112,250.00
279,461.11
134,500.00
134, 500.00
Z29.500.00
129,750.00
234,750.00
124,500.00
239,500.00
118,750.00
248,750.00
112 250.00
252,250.00
105,250.00
,;x55'0.0..:1:00002 ..:`. 105:250.00 `:i
170,000.00 10.000%
97,500.00
97,500.00
.: 39' D00.00.
190,000.00 10.000% 89,000.00
205,000.00 10.000%
225,000.00 10.000%
105,250.00
260.250'00`
97,500.00
267,500.00 -
365,000.00
89,000.00 ......: ::....
279,000.00 -
413,961.11
364,000.00
364,500.00
364,000.00
:500.0....
364,500.00
365,500.00
79,500.00 79,500.00
79,500.00 284,500.00
69,250.00 69,250.00
69,250.00 294,250.00
58,000.00 58,000.00
250,000.00 10.000%. 58,000.00 ` ....';308,000.00
275,000.00 10.000%
300,000.00 10.000%
45,500.00 45,500.00
45,500.00 320,500.00
31,750.00 331,750.00
16,750.00 16,750.00
16,750.00 351,750.00
..................
368,000.00
363,500.00
66,000.00
66,000.00...
363.500.00
1:368500100 .
TOTAL
2,690,000.00
2,838,461.11
5,528,461.11
first Southwest Company
Public Finance Department
FILE = RROCKR£F-s97PID
12/10/1996 12:33 PM
P. 03/04
DEC -10-96 TUE 01:39 PM 'FIRST SOUTHWEST COMPANY FAX 1,10. 5124812010 P.04/04
Encino Plaza RID
Assessment Bonds, Taxable Series 1997
Non -Rated; Levet Debt Service
DEBT SERVICE SCHEDULE
YIELD STATISTICS
Bond Year Doltars $28,384.61
Average Life 10.552 Years
Average Coupon 10.0000000%
Met Interest Cost (NIC)
True Interest Cost (TIC)
Bond Yield for Arbitrage Purposes
All Inclusive Cost (AIC)
10.1895393%
10.2865214%
9.9590790%
10.9225821%
IRS FORM 8038
Net Interest Cost 10.0000000%
Weighted Average Maturity 10.552 Years
First Southwest Company
Public Finance Department
FILE = RROCKREF-s97PI0
12/10/1996 12:33 PM
DEC -10-96 TUE 01:38 PM 'FIRST SOUTHWEST COMPANY FAX NO. 5124812010 P,02/04
Encino Plaza PID
Assessment Bonds, Taxable Series 1997
Non -Rated; Level Debt Service
SOURCES & USES
Dated 02/01/1997 Delivered 02/01/1997
SOURCES OF FUNDS
Par Amount of Bonds 52,690,000.00
TOTAL SOURCES 52,690,000.00
USES OF FUNDS
Placement Agent (520/Bond) 53,800.00
Legal, Trustee and Other Costs of Issuance 100,000.00
Deposit to Debt Service Reserve Fund (DSRF) 533,673.40
Deposit to Project Construction Fund 2,000,000.00
Rounding Amount 2,526.60
TOTAL USES 52,690,000.00
First Southwest Company FILE = RROCKREF-s97PID
Public Finance Department 12/10/1996 12:33 PM
EXHIBIT "B"
PROPOSED METHOD OF ASSESSMENT
(a) The proposed method of assessment shall be divided into
two clases, Class A and Class B. Class A shall be assessed 88.3% of
the total cost of improvements, including financing costs, and
Class B shall be assessed 11.7% of the total cost of improvements,
including financing costs.
(b) The proposed method of assessment for Class A shall be
based upon the ratio of the appraised value of each Class A lot to
the appraised value of all lots within Class A. This ratio shall
then be applied to the Class A share of the costs of improvements,
including financing costs. The Class A properties, and the proposed
percentage of assessments, are listed below:
Percent of
Description Size Retail Value $6,107,048
Lot 1, Block A 2.791 $ 972,607 0.159260
Lot 2, Block A 1.312 $ 457,206 0.074865
Lot 1, Block B 4.990 $1,488,946 0.243808
Lot 2, Block B 5.459 $1,628,889 0.266723
Lot 3, Block B 2.124 0.00 0.00
Lot 1, Block C 1.148 $ 315,043 0.051587
Lot 2, Block C 3.686 $1,244,357 0.203757
$6,107,048 1.000000
(c) The proposed' method of assessment for Class B shall be
based upon the ratio of the appraised value of each Class B lot to
the appraised value of all lots within Class B. This ratio shall
then be applied to the Class B share of the costs of improvements,
including financing costs. The Class B properties, and the proposed
percentage of assessments, are listed below:
Percent of
Description Value $1,685,000
Lot 1
Lot 2
U:\TEXT\ROUNDROC\ENCINO\ENCIEXC.WPD/kg
$ 815,000
$ 870,000
. 484
. 516
$1,685,000 1.000
EXHIBIT
II ell
ENCINO PLAZA CONST TION COSTS
Water Improvements
No. Description
1 8" Water C-900
2 12" Water C-900
3 Single Watcr Service
4 5-1/4" Fire I (ydrant & 6" (late Valve
5 12" Wet Connection
6 8" Wet Connection
7 8" Gate Valve
8 12" Gate Valve
9 Raise Gate Valve
Total Water Improvements
Quantity
848
1,980
9
7
1
1
3
4
7
M
Unit ()nit Price Total Price
L.F. 525.00 $21,200.0(
L.F. $32.00 563,360.0(
EA 51,570.00 514,130.0(
EA 51,700.00 $11.900.0(
EA 57,500.00 57,500.0C
EA 53,700.00 53,700.0C
EA 5520.00 $1,560.00
EA 51,000.00 $4,000.00
EA 5260.00 $1,820.0C
S129,170.0(1
Wastewater Improvements
No. Description Quantitv Unit Unit Price Total Price
1 8" PVC (All Depths) 755 L.F. 525.00 518,875.00
2 12" PVC (All Depths) 1,195 L.F. 539.00 $46.605.00
3 Single Wastewater 8 EA 5620.00 54,960.00
4 Manholes 9 EA 53,000.00 527,000.00
5 Trench Safety 1.950 L.P. 52.50 54,875.00
Total Wastewater Improvements 5102,315.00
Street Improvements (Includes internal streets only)
No. Description
1 Excavation/Suhgrade Preparation
2 10" Flex Base:
3 2" Asphalt
4
Curti and (iuticr
5 6' Valley Gutter
6 Street Signage
7 Revegetation
8 Handicapped Sidewalk Rainps
9 5' Concrete Sidewalk
Total Street Improvements
Quantity Unit . Unit Price
9,700 S.Y. 53.00
9,700 S.Y. 54.50
9,050 S.Y. 54.00
5,600 L.F. 56.00
2 1:A 51,500.00
4 EA 5150.00
1 1..5. 57,000.00
2 EA 5500.00
3.500 1..F. 510.50
Total Price
529,100.00
$43,650.00
536,200.00
533,600.00
53,000.00
5600.00
57,000.00
51,000.00
536,750.00
S190,900.00
Drainage Improvements
No. Description Quantity Unit Unit Price
1 18" RCP 210 L.F. 532.00
2 24" RCP 666 L.F. 535.00
3 30" RCI'340 L.F. 545.00
4 36" RCI' 800 L.F. 558. 00
5 18" CGM1' 150 L.P. 527.50
6 10' Curb Inlet 5 EA 51,800.00
7 15' Curh Inlet I EA 52,500.00
8 Standard Storm Manhole 5 IEA 51,600.00
9 Junction Type Manholes 8 EA 52,900.00
10 Concrete Slopcwalls 4 1:A 5620.00
11 Trench Salm 1,576 L.F 52.75
1 2 Temporary Erosion Control 1 L.S. 511,000.00
13 Concrete 1 lcadwall (18" RCP) 6 EA 51,000.00
14 Pond 1 1 L.S. $186,000.00
I5 Pond 2 1 L.S. 570,000.00
16 Pond 3 1 L.S. 5110.000.00
Total Drainage Improvements
Total Pr -ice
56,720.00
$23,310.00
515,300.00
546,400.00
54,125.00
59,000.00
52,500.00
58,000.00
523,200.00
$2,480.00
54,334.00
511,000.00
56,000.00
5186,00.00
570,000.00
$110,000.00
5528,369.00
Page 1 of 3
Encino Plaza Construction Costs - Page 2
Off -Site Improvements =
No. Description Quantity Unit Total Price
1,300 L.F. $52,000!
1 12" PVC (All Depths) 1,300
2 12" U.I. (All Depths) Uncoated 380 L.F.
L.F.10,000!
3 30" D.l. (All Depths) Uncoated 50 t•' p $21,700.4
4 Manholes 7 EA
0
5 Concrete Encasement of 12" 1).1 300 LF. 5.600!
$52.0$52.00 $1 155,600.'
t, Repair Driveways 100 1..1'.
7 Temporary Erosion Controls 1 LS. $5,250.00 $5,250.4
8 "Trench Safety 1,380 L.. F. $3.00 $4,140.1
9 Prep Pipe Row 13.5 STA $600.00 58,100!
10 Permanent Erosion Control 1 L.S. $4,200.00 54,200.1
S156,090!
Total Off -Site Improvements
Total Water, Wastewater, Street, Drainage, and Off -Site Improvements S1,106,844.
Engineer Based on 10% of Total Imj,rovement Cost
5110,684.
Contingency Cost of 10% of Total Improvement Costs
S110,684.
Land
No.
1
Description Quantitv Unit Unit Price Total Price
Land for Detention and Water Quality l'onds 72,000 S.F. $6.00 $432,000.
GRAND TOTAL 51,760,212.
Page 2 of 3
ROUND ROCK NISSAN
CONSTRUCTION COSTS
Water Improvements
No. Description
Upgrade Water Pressure Plane including
dist<un PION valve and engineering
Total Water Improvements
Total Price
520,00(
520,00(
Wastewater Improvements
No. Description
Z 12" Water and Wastewater Servtice Lines
including connections and manholes
Total Wastewater Improvements
Total Price
573,425.
573,425
Drainage Improvements (Conveyance Lot 2)
No. Description Total Price
3 Drainage Conveyance (Lot 2) 539.925
Drainage Improvements (Lot 1)
4 Drainage, Filtration, Detention (Lot 1) S81,120
Total Drainage Improvements S121,045
Total Water, Wastewater, and Drainage Improvcmcnts S214,470
Engineering and Contingency Costs S18,785
GRAND TOTAL S233,255.
Page 3 of 3
EXHIBIT "D"
PROPOSED METHOD OF ASSESSMENT
(a) The proposed method of assessment shall be divided into
two clases, Class A and Class B. Class A shall be assessed 88.3% of
the total cost of improvements, including financing costs, and
Class B shall be assessed 11.7% of the total cost of improvements,
including financing costs.
(b) The proposed method of assessment for Class A shall be
based upon the ratio of the appraised value of each Class A lot to
the appraised value of all lots within Class A. This ratio shall
then be applied to the Class A share of the costs of improvements,
including financing costs. The Class A properties, and the proposed
percentage of assessments, are listed below:
Percent of
Description Size Retail Value $6,107,048
Lot 1, Block A 2.791 $ 972,607 0.159260
Lot 2, Block A 1.312 $ 457,206 0.074865
Lot 1, Block B 4.990 $1,488,946 0.243808
Lot 2, Block B 5.459 $1,628,889 0.266723
Lot 3, Block B 2.124 0.00 0.00
Lot 1, Block C 1.148 $ 315,043 0.051587
Lot 2, Block C 3.686 $1,244,357 0.203757
$6,107,048 1.000000
(c) The proposed method of assessment for Class B shall be
based upon the ratio of the appraised value of each Class B lot to
the appraised value of all lots within Class B. This ratio shall
then be applied to the Class B share of the costs of improvements,
including financing costs. The Class B properties, and the proposed
percentage of assessments, are listed below:
Description
Percent of
Value $1,685,000
Lot 1 $ 815,000 .484
Lot 2 $ 870,000 .516
U:\TEXT\RWNDROC\ENCINO\ENCIEXC.WPD/icg
$1,685,000 1.000
Date: December 10, 1996
Subject: City Council Meeting December 12, 1996
Item: 10.C. Consider a resolution concerning the advisability of
establishing the Encino Plaza Public Improvement
Assessment District (PID), the proposed method of
assessment for the district, and authorizing preparation of a
preliminary assessment roll.
Staff Resource Person: Joe Vining
Staff Recommendation: Approval
This resolution authorizes the City to create the Encino Plaza Public
Improvement Assessment district, describes the boundaries, and authorizes the
preparation of a preliminary assessment roll that gives notice to the property
owners of how much they will owe on an equal basis.
THE STATE OF TEXAS
*
COUNTY OF WILLIAMSON *
CITY OF ROUND ROCK
*
DOC# 9700729
I, JOANNE LAND, Assistant City Manager/City Secretary of the City of
Round Rock, Texas, do hereby certify that the above and foregoing is a true
and correct copy of a resolution passed and adopted by the City Council of
the City of Round Rock, Texas, at a meeting held on the /d day of
i 1 L ,-L `� ' , 19 i which is recorded in the minutes of the City of
35 .
Round Rock in book
CERTIFIED b my hand and seal of the City of Round Rock, Texas on
this O(v day of
,199'
42.4(t_u Am(b
J ANNE LAND, Assistant City Manager/
City Secretary
OFFICIAL RECORDS
WILLIAMSON COUNTY, TEXAS
RESOLUTION NO. k" `s co-
AN RESOLUTION MAKING FINDINGS AS TO THE FEASIBILITY
AND DESIRABILITY OF AN IMPROVEMENT DISTRICT TO BE
KNOWN AS THE ENCINO PLAZA PUBLIC IMPROVEMENT
DISTRICT; MAKING FINDINGS AS TO THE ADVISABILITY,
NATURE, AND ESTIMATED COSTS OF THE PROPOSED
IMPROVEMENTS AND THE METHOD OF ASSESSMENT WITHIN
THE BOUNDARIES OF THE DISTRICT; AUTHORIZING THE
DISTRICT AS A PUBLIC IMPROVEMENT DISTRICT PURSUANT TO
CHAPTER 372, SUBCHAPTER B, OF THE LOCAL GOVERNMENT
CODE; ACCEPTING AN ADVISORY BOARD REPORT; MAKING
PROVISIONS RELATED THERETO AND DECLARING AN
EFFECTIVE DATE; PROVIDING FOR A SAVINGS CLAUSE AND
REPEALING CONFLICTING ORDINANCES OR RESOLUTIONS.
WHEREAS, Chapter 372 of the Texas Local Government Code (the
"Act") authorizes the City to create public improvement districts;
and
WHEREAS, on September 12, 1996 owners of certain real
property located within the City of Round Rock, Texas delivered to
the City a First Amended Petition (the "Petition") to create Encino
Plaza Public Improvement District (the "District") the boundaries
of which are shown on the map attached hereto and made a part
hereof and marked Exhibit "A", and
WHEREAS, the City Secretary of the City of Round Rock has
received the Petition and it has been determined that the owners of
more than 50% of the appraised value of the taxable real property
and more than 50% of the area of all taxable real property within
the District have executed the Petition and that the Petition
complies with the Act and authorizes the City Council to consider
the creation of the District; and
C:\THAT\ROUNDROC\HNCINO\RES1212.NPD/cdc
WHEREAS, the City Council appointed an Advisory Board to
investigate all matters related to the Petition and the Advisory
Board has reported thereon; and
WHEREAS, after providing all notices required by the Act, the
City Council on December 12, 1996 conducted a public hearing on the
advisability of the improvements and the creation of the District;
and
WHEREAS, the report of the Advisory Board along with the
testimony from property owners and others were considered; and
WHEREAS, the City Council adjourned such public hearing, Now
Therefore;
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
I.
That the following findings are made and declared regarding
the proposed Encino Plaza Public Improvement District:
1. The Report of the Advisory Board, attached hereto and
incorporated herein as Exhibit "B", is received and
accepted;
2. The Petition to establish the District is sufficient and
is accepted as being in compliance with the provisions of
the Act;
3. It is advisable to make the improvements set forth in the
Petition and the same will benefit the land described
therein, enhance the value thereof and be of benefit and
use to the City;
2.
4. The nature of the improvements is to provide the water,
sanitary sewer, drainage and street facilities necessary
to serve the land within the District in accordance with
the requirements therefor by the City and are generally
described in Exhibit "C" attached hereto and made a part
hereof for all purposes;
5. The estimated costs of financing all improvements to be
made in the District is $2,655,000 and such cost is a
reasonable cost for said improvements;
6. The land described in the Petition will all be benefitted
by the proposed improvements and therefore the boundaries
of the District shall be as described in Exhibit "A"
attached hereto and made a part hereof for all purposes;
7. The method of assessment shall be based upon the special
benefits which accrue to the classes of property within
the District based upon the value of the property as set
forth in Exhibit "D";
8. The costs of the improvements shall be borne entirely by
the land within the boundaries of the District and no
apportionment between the City and the District is
necessary.
II.
The Encino Plaza Public Improvement District is hereby
authorized as provided by the Act and in accordance with the
findings made in Section I hereof. Provided, however, such
authorization does not authorize Petitioner to take any action that
3.
would obligate the City in any way or cause the City to incur any
risk or cost.
This Resolution shall be published one time in the Round Rock
Leader, the official newspaper of the City, and upon such
publication authorization of the Encino Plaza Improvement District
shall become effective.
IV.
The Advisory Body for the District shall continue to meet and
advise the City Council in regard to any ongoing Service Plan or
Assessment Plan. City staff is hereby authorized to take all action
necessary to prepare a preliminary assessment roll, publish any
necessary notices, and take all other action necessary to
effectuate the purposes of this Resolution.
RESOLVED this 12th day of December, 1996
ATTEST:
uv1/VLQ, ir-vYucL
E LAND, City Secretary
4.
/ 40
CHARLIE CULPEPER, Mayor
City of Round Rock, Texas
Exhibit "A"
Lots 1-2, ROUND ROCK NISSAN SUBDIVISION, recorded in Cabinet M,
Slides 323-324, Plat Records, Williamson County, Texas.
Lots 1-2, Block A, Lots 1-3, Block B, Lots 1-2, Block C, ENCINO
PLAZA SUBDIVISION, recorded in Cabinet N, Slides 272-273, Plat
Records, Williamson County, Texas.
C:\TEXT\ROUNDROC\ENCINO\EXHIBITA.WPD/cdc
Page 1 of 2 Pages
Page 2 of 2 Pages
EXHIBIT "B"
ADVISORY BOARD REPORT
On December 6, 1996, the Advisory Board of the proposed Encino
Plaza Public Improvement District (the "District") prepared the
following report, which is to be presented to the City Council of
Round Rock, Texas on December 12, 1996.
The Board has reviewed the improvements as set forth in the
First Amended Petition filed by the property owners within the
proposed District and find that said improvements will benefit the
land within the District, will enhance the value of said land, and
will be of benefit and use to the City as a hotel facility.
The nature of the improvements is to provide water, sanitary
sewer, drainage and street facilities necessary to serve the land
within the District, in accordance with city Code requirements.
The estimated costs of financing all improvements to be made
in the District is $2,655,000 and said cost is found to be
reasonable. A copy of the proposed debt service schedule is
attached hereto as Exhibit "A".
After discussion with the property owners, a method of
assessment based upon the special benefits which accrue to the
classes of property within the District based upon the value of the
property was agreed upon. These values are as set forth in Exhibit
"B" herein.
U:\TEXT\ROUNDROC\ENCINO\REPORT.WPD/kg
In conclusion, the Board recommends that the City Council find
that the proposed Encino Plaza Public Improvement District is
feasible and desirable, and that the proposed methods of assessment
be adopted.
harles Cros ield, ,1 ehalf
of the Encino Plaza Public
Improvement District Advisory Board
DEC -10-96 TUE 01:39 PM FIRST SOUTHW
EXHIBIT
5124812010
Encino Plaza P10
Assessment Bads, Taxable Series 1997
Mon -Rated; Level Debt Service
DEBT SERVICE SCHEDULE
DATE
PRINCIPAL COUPON
INTEREST
TOTAL P+I FISCAL TOTAL
2/01/1997
2/15/1997
3/01/1997
8/15/1997
9/312/1997
2/15/1998
8/15/1998
9/30/1998
2/15/1949
8/1511944.:.::...... 95,000.00''... 40.4;00%
9/30/1999 -
2/15/2000
8/15/2000 105,000.00 10.000%
9/30/2000
2/15`Y2001
8/15/2001 115,000.00 10.000%
9/30/2001
2/15/2002
8/15/2002 130,000.00 10.000%
9/3072002.: ;. .
2/15/2003 - -
8/15/2003 140,000.00 10.000%
9/30/2003 - -
2/15/2004
8115/2004 ,:<: 155.000'.00
9/30/2004 -
2/1S/2005 -
8/15/2005 170,000.00
9/30/2005
--2/15/2006' 2/.15/2006
8/15/2006 190,000.00
9/30/2006 -
2/15/2007 -
8/15/2007 205,000.00 10.000%
9/30/2007.;"`
2/15/2008 -
8/15/2008 225,000.00 10.000%
9/30/2008 - -
2/15/2009
8/15/2009: 250;000.00 10.0002`
9/30/2009
2/15/2010
8/15/2010
9/30/2010
2/15/20111;. ._............._ .
8/15/2011 300,000.00 10.0002
9/30/2011
2/15/2012
8/15/2012 335,000.00 10.0002
9/30/2012x. ` . .
279,461.11
134,500.00
279,461.11
134,500.00
413,961.11
134, 500.00 134,500-00
134,500-A0 ::: '229,500'0:0.
- - 364,000.00
129,750.00 129,750.00
129,750.00 234,750.00
- 364 500.00
124,500 00 :124,500:00.
124,500.00 239,500.00
- 364,000.00
118,750.00
248,750.00
118,750.00
118,750.00
112,250.00
112,250.00
105,250.00
10/3:000% .. , -105.250-.0P
97,500.00
10.000% 97,500.00
89,000.00".:
10.000% 89,000.00
275,000.00 10.000%
79,500.00
79,500.00
69,250.00
69,250.00
58,000.00
45,500.00
45,500.00
31,750.00.;:
31,750.00
16,750.00
16,750.00
112,250.00
252,250.00
105,250.00
260,250:00.;
97,500.00
267,500.00
365,000 00
89,000:00......:
279,000.00 •
368,000.00
79,500.00
284, 500.00
367,500:00:::
364,500.00
365,500.00
69,250.00
294,250.00
58,000.00,.
..308 ,000.00'.
45,500.00
320,500.00
31::750.00.
331,750.00
16,750.00
351,750.00
364;000.00.
363,500.00
366,000.00
366,000.00_.
363.500.00
368;504.001`
TOTAL
2,690,000.00
2,838,461.11 5,528,461.11
First Southwest Corrigan),
Public Finance Department
FILE = RROCKREF-s97PI0
12/10/1996 12:33 PM
P. 03/04
DEC -10-96 TUE 01:39 PM FIRST SOUTHWEST COMPANY FAX NO, 5124812010 P.04/04
Encino Plaza PID
Assessment Bonds, Taxable Series 1997
Mon -Rated; Level Debt Service
DEBT SERVICE SCHEDULE
YIELD STATISTICS
Bond Year Dollars
Average Life
Average Coupon
Net Interest Cost (WIC)
True Interest Cost (TIC)
gond Yield for Arbitrage Purposes
All Inclusive Cost (AIC)
IRS FORM 8038
Met Interest Cost
Weighted Average Maturity
$28,384.61
10.552 Years
10.0000000%
10.1895393%
10.2865214%
9.9590790%
10.9225821%
10.0000000%
10.552 Years
First Southwest Company FILE = RROCYREF-s97P10
Public Finance Department 12/10/1996 12:33 PM
DEC -10-96 TUE 01:38 PM FIRST SOUTHWEST COMPANY
FAX NO. 5124812010 P. 02/04
Encino Plaza PID
Assessment Bonds, Taxable Series 1997
Mon -Rated; Level Debt Service
SOURCES & USES
Dated 02/01/1997 Delivered 02/01/1997
SOURCES OF FUNDS
Par Amount of Bonds
TOTAL SOURCES
52,690,000.00
52,690,000.00
USES OF FUYDS
Placement Agent ($20/Bond) 53,800.00
Legal, Trustee and Other Costs of Issuance 100,000.00
Deposit to Debt Service Reserve Fund COSRF) 533,673.40
Deposit to Project Construction Fund 2,000,000.00
Rounding Amount 2,526.60
TOTAL USES $2,690,000.00
First Southwest Company FILE = RROCKREF-s97PID
Public Finance Department 12/10/1996 12:33 PM
EXHIBIT "B"
PROPOSED METHOD OF ASSESSMENT
(a) The proposed method of assessment shall be divided into
two clases, Class A and Class B. Class A shall be assessed 88.3% of
the total cost of improvements, including financing costs, and
Class B shall be assessed 11.7% of the total cost of improvements,
including financing costs.
(b) The proposed method of assessment for Class A shall be
based upon the ratio of the appraised value of each Class A lot to
the appraised value of all lots within Class A. This ratio shall
then be applied to the Class A share of the costs of improvements,
including financing costs. The Class A properties, and the proposed
percentage of assessments, are listed below:
Percent of
Description Size Retail Value $6,107,048
Lot 1, Block A 2.791 $ 972,607 0.159260
Lot 2, Block A 1.312 $ 457,206 0.074865
Lot 1, Block B 4.990 $1,488,946 0.243808
Lot 2, Block B 5.459 $1,628,889 0.266723
Lot 3, Block B 2.124 0.00 0.00
Lot 1, Block C 1.148 $ 315,043 0.051587
Lot 2, Block C 3.686 $1,244,357 0.203757
$6,107,048 1.000000
(c) The proposed method of assessment for Class B shall be
based upon the ratio of the appraised value of each Class B lot to
the appraised value of all lots within Class B. This ratio shall
then be applied to the Class B share of the costs of improvements,
including financing costs. The Class B properties, and the proposed
percentage of assessments, are listed below:
Percent of
Description Value $1,685,000
Lot 1
Lot 2
U:\TEXT\ROUNDROC\ENCINO\ENCIEXC.WPD/kg
$ 815,000
$ 870,000
.484
.516
$1,685,000 1.000
ENCINO PLAZA CONST TION COSTS
b
Water Improvements
No. Description Quantity Unit Unit Price Total Price
1 8" Water C-900 848 L.F. $25.00 $21,200.00
2 12" Water C-900 1,980 L.F. $32.00 $63,360.00
3 Single Water Service 9 EA $1,570.00 S14,130.00
4 5-1/4" Fire 1 lydrant & 6" (late Valve 7 EA $1,700.00 $ I 1,900.00
5 12" Wet Connection 1 EA $7,500.00 $7,500.00
6 W' Wet Connection I EA $3,700.00 $3,700.00
7 8" Gate Valve 3 EA $520.00 $1,560.00
8 12" Gate Valve 4 EA $1,000.00 $4,000.00
9 Raise Gate Valve 7 EA $260.00 $1,820.00
Total Water Improvements 5129,170.00
Wastewater Improvements
No. Description Quantity Unit Unit Price Total Price
8' PVC (All Depths) 755 L.F. $25.00 $18,875.00
2 12" PVC (All Depths) 1,195 L.F. 539.00 546,605.00
3 Single Wastewater 8 EA 5620.00 54,960.00
4 Manholes 9 EA $3,000.00 $27,000.00
5 Trench Safety 1,950 L.F. $2.50 $4,875.00
Total Wastewater Improvements S102,315.00
Street Improvements (Includes internal streets only)
No. Description Quantity Unit . Unit Price
1 Excavation/Suhgradc Preparation 9,700 S.Y. $3.00
2 10" Flex 13ase 9,700 S.Y. $4.50
3 2" Asphalt 9,050 S.Y. $4.00
4 ('urh and Gutter 5,600 L.F. $6.00
5 6' Valley Gutter 2 EA $1,500.00
6 Street Signage 4 1:A $150.00
7 Revegetation I I..S. 57,003.00
8 Handicapped Sidewalk Ramps 2 EA 5500.00
9 5' Concrete Sidewalk 3,500 1..F. $10.50
Total Street Improvements
Total Price
529,100.00
$43,650.00
$36,200.00
533,600.00
S3,000.00
S600.00
57 ,000.00
51,000.00
536,750.00
S190.900.00
Drainage Improvcmcnts
No. Description Quantity Unit Unit Price
7
18" RCP
2_4" RCP
3 30" RCI'
4 36" RCP
5 18" CGMI'
6 10' Curb Inlet
7 15' Curb Inlet
8 Standard Storm Manhole
9 Junction 'type Manholes
IO Concrete Slopew;illk
1 1 Trench Safety
12 Temporary Erosion Control
1.1 Concrete 1 leadwall (18" RCP)
I4 Pond I
15 Pond 2
16 Pond 3
210 L.F. 532.00
666 L.F. 535.00
340 LI:. 545.00
800 L.F. 558.00
150 L.F. 527.50
5 EA 51,800.00
1 EA 52,500.00
5 EA 51,600.00
8 LA 52,900.00
4 NA 5620.00
1,576 L.F. S2.75
1 L.S. 51 1,000.00
6 EA 51,000.00
1 L.S. 5186,000.00
1 L.S. 570,000.00
1 L.S. $110,000.00
Total Drainage Improvements
Total Price
$6,720.00
523,310.00
515,300.00
546,400.00
54,125.00
59,000.00
52,500.00
58,000.00
523,200.00
52,480.00
54,334.00
511,000.00
56,000.00
5186,00.00
570,000.00
S110.000.00
5528,369.00
Page 1 o£ .3
a
Encino Plaza Construction Costs - Page 2
•
EXHIBIT
nc
1
Off -Site Improvements
No. Description
1 12" PVC (All Depths)
2 12" D.I. (All Depths) Uncoated
3 30" D.I. (All Depths) Uncoated
4 Manholes
5 Concrete Encasement of 12" l).l
Repair Driveways
7 Temporary Erosion Controls
K 'French Salct)
9 t'rcp Pipe Rov,.
10 Permanent Erosion Control
Total Off -Site Improvements
Quantity Unit Unit Price
1,300 L.F. S40.00
380 L.F. S75.00
50 L.F. $200.00
7 EA $3,100.00
300 I..F. S52.00
I(X) 1..F. S66.00
I 1..S. S5.250.00
1.380 L.F. 53.00
13.5 STA S600.00
1 L.S. $4.200.00
Total Price
552,000.0(
528,500.0(
S10,000.0(
521,700.0
$15.600.0
$6,600.04
55,250.0
$4,140.0
$8,100.01
54,200.0(
S 156,090.0
Total Water, Wastewater, Street, Drainage, and Off -Site Improvements
S1,106,844.0
Engineer Based on 10% of Total Improvement Cost
S110,684.4
Contingency Cost of l0% of Total Improvement Costs
S110,684.4
Land
No.
Description Quantity
Land for Detention and Water Quality Ponds 72,000
Unit Unit Price
$6.00
Total Price
$432,000.0
GRAND TOTAL S1,760,212.t>
RECORDERS MEMORANDUM
All or pats of the text on this page was not
clearly legible for satisfactory recordation.
Page 2 of 3
EXHIBIT
,„,„
ROUND ROCK NISSAN
CONSTRUCTION COSTS
Watcr Improvements
No. Description
1 Upgrade Water Pressure Plane including
distant I'RV valve and engineering
Total Water Improvements
Total Price
S20,000
S20,000
Wastewater Improvements
No. Description
2 12" Water and Wastewater Service Lincs
including connections and manholes
Total Wastewater Improvements
Total Price
S73.425
S73,425.
Drainage Improvements (Conveyance Lot 2)
No. Description Total Price
3 Drainage Conveyance (Lot 2) S39,925
Drainage Improvements (Lot I)
4 Drainage. Filtration. Detention (I.ot I) S81,12C
Total Drainage Improvements 5121,045.
Total Water, Wastewater, and Drainage Improvements S214,470
Engineering and Contingency Costs S18,785.
GRAND TOTAL S233,255.
RECORDERS MEMORANDUM
All or parts of the text on this page was not
clearly legible for satisfactory recordation.
Page 3 of 3
EXHIBIT "D"
PROPOSED METHOD OF ASSESSMENT
(a) The proposed method of assessment shall be divided into
two clases, Class A and Class B. Class A shall be assessed 88.3% of
the total cost of improvements, including financing costs, and
Class B shall be assessed 11.7% of the total cost of improvements,
including financing costs.
(b) The proposed method of assessment for Class A shall be
based upon the ratio of the appraised value of each Class A lot to
the appraised value of all lots within Class A. This ratio shall
then be applied to the Class A share of the costs of improvements,
including financing costs. The Class A properties, and the proposed
percentage of assessments, are listed below:
Description
Lot 1, Block A
Lot 2, Block A
Lot 1, Block B
Lot 2, Block B
Lot 3, Block B
Lot 1, Block C
Lot 2, Block C
Size
2.791
1.312
4.990
5.459
2.124
1.148
3.686
Retail Value
$ 972,607
$ 457,206
$1,488,946
$1,628,889
0.00
$ 315,043
$1,244,357
$6,107,048
Percent of
$6,107,048
0.159260
0.074865
0.243808
0.266723
0.00
0.051587
0.203757
1.000000
(c) The proposed method of assessment for Class B shall be
based upon the ratio of the appraised value of each Class B lot to
the appraised value of all lots within Class B. This ratio shall
then be applied to the Class B share of the costs of improvements,
including financing costs. The Class B properties, and the proposed
percentage of assessments, are listed below:
Percent of
Description Value $1,685,000
Lot 1
Lot 2
U:\TEXT\ROUNDROC\ENCINO\ENCIEXC.WPD/kg
$ 815,000
$ 870,000
.484
.516
$1,685,000 1.000
Doc# 9700729
# Pages: 18
Date : 01-07-1997
Time : 09:05:55 A.M.
Filed & Recorded in
Official Records
of WILLIAMSON County, TX.
ELAINE BIZZELL
COUNTY CLERK
Rec. $ 43.00
algr
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Villismsor Couto Tsui am as tab Nagl
Slansxid twos
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COulirt 413111
MANN 4111111101116
CITY OF ROUND ROCK
ADMINISTRATION
221 EAST MAIN STREET
ROUND ROCK, TEXAS 788G4