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R-98-11-24-14B1 - 11/24/1998RESOLUTION NO. R -98-11-24-14B1 RESOLUTION CALLING FOR A PUBLIC HEARING TO CONSIDER AN AMENDED ASSESSMENT/SERVICE PLAN FOR ENCINO PLAZA PUBLIC IMPROVEMENT DISTRICT; AND PROVIDING AN EFFECTIVE DATE WHEREAS, pursuant to Chapter 372 of the Local Government Code and Resolution No. R -96-12-12-10C and Ordinance No. G -97-02-27-9E approved by the City Council on December 12, 1996 and February 27, 1997, respectively, the City Council authorized the creation of the Encino Plaza Public Improvement District (the "District") and levied assessments on the property owners within such District to pay for the public improvements necessary to encourage commercial development within the area; and WHEREAS, certain properties within the District have been further subdivided to enable further development and additionally certain property owners within the District have prepaid their assessment; and WHEREAS, pursuant to Sections 372.013 b ( ) , 372.015(d) and 372.018 of the Local Government Code, and due to the subdivision of lots and prepayment of certain assessments, the City Council must review the assessment/service plan and hold a public hearing regarding any changes in such plan. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, THAT: Section 1. Upon receipt of evidence satisfactory to the City Attorney that the assessments on Lots 1 and 2 of the Round Rock Nissan Subdivision have been prepaid such assessment lien shall be K:\WPDOCS\RESOLUTI\R81124B1.WPD/CdC released and evidence of such release shall be filed in the appropriate real property records. Section 2. The City Council shall consider an amendment to the assessment/service plan at a public hearing to be held on December 10, 1998 and notice of such hearing shall be mailed to all property owners and published in the Round Rock Leader in substantially the form attached hereto as Exhibit "A" all in accordance with Chapter 372 of the Local Government Code. A draft of the amendment to the assessment/service plan shall Secretary. Section 3. The Mayor officials of the City are and all things necessary of this Resolution. The City Council hereby finds remain on file with the City the City Secretary and other appropriate hereby authorized and directed to do any and/or convenient to carry out the terms of the date, hour, place Resolution was and declares that written notice and subject of the meeting at which this adopted was posted and that such meeting was open to the public as required Resolution and the subject matter hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and the Act. RESOLVED this 24th day of November, 1998. by law at all times during which this ATTEST: if,/At,/ LAND, City Secretary 2 CHARLES CULEER, Mayor City of Round Rock, Texas EXHIBIT "A" NOTICE OF PUBLIC HEARING In accordance with Chapter 372 of the Local Government Code, the Round Rock City Council will conduct a public hearing on Thursday, December 10, 1998 at 7:00 p.m. at the Round Rock City Hall, 221 E. Main Street, Round Rock, Texas. The purpose of the public hearing is to consider the proposed reassessment against property Plaza Public Improvement District (PID) established by the City Council on December 12, l 1 996 and originally assessed on February 27, 1997. The purpose of the reassessment plan is to recognize the further subdivision of lots within the PID and to release the assessment lien for those property owners prepaying assessments. Water, wastewater, street and drainage improvements within the PID have been completed at a cost of $2,690,000. The proposed method of assessment shall remain the same as approved on February 27, 1998 which established two classes, Class A and Class B. Class A is assessed 88.3% of the total cost of improvements, including financing costs. The Class B property owners have prepaid their assessment which was originally assessed at 11.7% of the total Cost Of improvements, including financing costs. The 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 proposed amendment to the assessment roll containing the address of property subject to assessment and the amount of the proposed reassessment is available for public inspection in the Office of the City Secretary in the Round Rock City Hall at the address above. Written or oral objections will be considered at the Public Hearing. CERTIFICATE I certify that the above notice of the City Council public hearing was posted on the bulletin board at the City Hall of the City of Round Rock, Texas on the of 1998, at _ p.m. JOANNE LAND, Assistant City Manager / City Secretary DATE: November 20, 1998 SUBJECT: City Council Meeting — November 24, 1998 ITEM: 14.B.1. Consider a resolution regarding an amended assessment plan for the Encino Plaza Public Improvement District (PID) and calling a public hearing regarding such plan. Staff Resource Person: Steve Sheets, City Attorney.