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HomeMy WebLinkAboutRES 082719-W - Parkside River MUDResolution No. 1Zw� ) Ot— W A RESOLUTION GRANTING THE CONSENT OF THE CITY OF GEORGETOWN, TEXAS TO THE CREATION OF A MUNICIPAL UTILITY DISTRICT TO BE KNOWN AS "PARKSIDE ON THE RIVER MUNICIPAL UTILITY DISTRICT NO. i" WITHIN THE EXTRATERRITORIAL JURISDICTION OF THE CITY OF GEORGETOWN, TEXAS WHEREAS, the City of Georgetown (the "Cb") received a Petition for the Consent to Creation of a Municipal Utility District upon 272.512 acres of land located in the extraterritorial jurisdiction of the City, a copy of which Petition is attached as Exhibit "A" (the "Petition"); and WHEREAS, Section 54.o16 of the Texas Water Code and Section 42.042 of the Local Government Code provide that land within the extraterritorial jurisdiction of a municipality may not be included within a district without the municipality's written consent; and WHEREAS, the land described in the Petition constitutes a portion of the remaining land described in the "Amended and Restated Consent Agreement Concerning the Water Oak Subdivision (f/k/a ABG Subdivision)" between the City, Laredo W.O., Ltd., and Williamson County Municipal Utility District No. 25 recorded in the Official Public Records of Williamson County, Texas as Document No. 2012oo6198 (the "Consent A reernent") a copy of which is attached to the Petition, and the Petitioner proposes that the District be created as a "Successor District," as contemplated by and subject to the terms and conditions of the Consent Agreement; and WHEREAS, the land described in the Petition also constitutes a portion of the remaining land described in the "Amended and Restated Development Agreement Concerning the Water Oak Subdivision (f/k/a ABG Subdivision)" recorded in the Official Public Records of Williamson County, Texas as Document No. 2012027844 between the City and Laredo W.O., Ltd., which was amended by the "First Amendment to the Amended and Restated Development Agreement Concerning the Water Oak Subdivision," dated to be effective on November 11, 2015, recorded in the Official Public Records of Williamson County, Texas as Document No. 2o16008515 (collectively, Document No. 2012027844 and Document No. 2o16008515 are referred to herein as the "Development Agreement"); and WHEREAS, the Petitioner, HM Parkside, LP, a Texas limited partnership is a successor in interest Laredo W.O., Ltd. under the Consent Agreement and the Development Agreement and owns the land described in the Petition. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: Section 1. That the Petition meets the requirements of Section 2.02 of the Consent Agreement, and the City Council of the City of Georgetown, Texas, gives its written consent to the creation of Parkside on the River Municipal Utility District No. 1 upon the 272.512 acres of land described in the Petition. The District will constitute a "Successor District" as contemplated and allowed by the Consent Agreement and will be subject to the terms and conditions set forth in the Consent Agreement and the Development Agreement. Resolution No. 0 O2--1 A " w Consenting to Creation of Parkside at the River MUD No. 1 Paget of 3 Section 2. That the District's road powers shall be limited to the issuance of bonds for right of way acquisition, design, construction, and financing of the roads described as Parkside Parkway and Parkway B on Exhibit D attached to the Petition; however, the District's road powers shall not include the operation and maintenance of Parkside Parkway or Parkway B or the issuance of Bonds for such purposes because the roads are required under the Consent Agreement and the Development Agreement to conveyed to Williamson County, Texas for operation and maintenance. Section a. That the District provide to the City a final Texas Commission on Environmental Quality (the "Commission") order approving a bond issue (or the accompanying staff memorandum) that contains a finding, made in accordance with the Commission's then - existing rules, that it is feasible to sell Bonds and maintain a projected District total tax rate of not more than $0.92 per $10o in Assessed Valuation (the "Tax Rate Limit.") Section 4. That before the submission of an application of approval of issuance of Bonds to the Commission or to the Texas Attorney General, whichever occurs first, the District's financial advisor certifies in writing to the City that the Bonds are being issued within the then -current economic feasibility guidelines established by the Commission for municipal utility districts in Williamson County, Texas, do not to exceed the Tax Rate Limit, and are in conformity with Article V of the Consent Agreement. Section 5. That the Petition attached hereto as Exhibit "A" (including all attachments to the Petition), and the depiction of Parkside Parkway and Parkway B attached hereto as Exhibit "B", are hereby incorporated into this Resolution by this reference as if set forth in full; and that the two agreements included with the above -stated definition of "Development Agreement" (together with all attachments to the Development Agreement) are also hereby incorporated into this Resolution by this reference as if set forth in full. Section 6. All ordinances and resolutions or parts of resolutions and ordinances, that are in conflict with this Resolution are hereby repealed and are no longer in effect. Notwithstanding the foregoing, Resolution No. 0226o8-FF and Resolution No. 052212-T pertaining to the creation of Williamson County Municipal Utility District No. 25 under the terms and conditions of the Consent Agreement and the Development Agreement are not affected by this Resolution and remain in full force in effect. Section 7. The Mayor of the City of Georgetown is hereby authorized to sign this Resolution and the City Secretary of the City of Georgetown to attest. Section 8. This Resolution shall become effective on its final passage. PASSED AND APPROVED on the Lay of Q A 1,f 2019. List of Attachments: Exhibit A The Petition (including all attachments to the Petition) Resolution No. 0- -1 lot-yv Consenting to Creation of Parkside at the River MUD No. 1 Page 2 of 3 CITY OF GEORGETOWN, TEXAS (2�L CLIl Dale Ross, Mayor ATTEST: Robyn De &more, City Secretary Resolution No. uy rx I A& — Consenting to Creation of Parkside at the River MUD No. 1 Page 3 of 3