HomeMy WebLinkAboutRes 2023-04-1423 Authorizing Mayor Pro Tem- AnaCapri PID- Reimbursement AgreementCITY OF ANNA, TEXAS
RESOLUTION NO.
A RESOLUTION OF THE CITY OF ANNA, TEXAS APPROVING A RESOLUTION
ADOPTING THE IlVIPROVEMENT AREA #1 REIMBURSEMENT AGREEMENT FOR
ANACAPRI PUBLIC EUPROVEMENT DISTRICT
WHEREAS, Developer is the developer of tracts of land located within the corporate limits of
the City of Anna, Texas (the "City"), containing, collectively, approximately 341 acres (the "District");
and
WHEREAS, on April 12, 2022, the City Council passed and approved the PID Creation
Resolution creating a Public Improvement District encompassing all of the District, but no other land;
and
WHEREAS, said PID Creation Resolution identified, defined and authorized the public
improvement projects that will promote the interests of the City and will confer a special benefit on the
District; and
WHEREAS, the City Council intends to pass and approve one or more Bond Ordinances
pursuant to the authority of Section 372.024 of the Public Improvement District Assessment Act and in
accordance with Subtitles A and C, Title 9, of the Texas Government Code; and
WHEREAS, Bond Proceeds will be deposited into the Project Fund and disbursed for (i) the
payment of the Bond Issuance Costs, (ii) reimbursement of the Developer for that portion of the Actual
Costs of the Improvement Area #1 Improvements, including, without limitation, the Developer's costs
to create the PID, that Developer has funded out of pocket from its own funds, and (iii) funding of a
portion of all of the Actual Costs of the Improvement Area #1 Improvements; and
WHEREAS, the City Council finds and determines that the Improvement Area #1
Reimbursement Agreement (the "Reimbursement Agreement") attached to this resolution as Exhibit A
is necessary and appropriate to specify the respective rights and obligations of the City and the Developer
as set forth therein;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS, THAT:
Section 1. Recitals Incorporated.
The recitals above are incorporated herein as if set forth in full for all purposes.
Section 2. Approval of Site Plan
The City Council hereby approves the Reimbursement Agreement attached hereto as Exhibit A and
authorizes the Mayor Pro Tern to execute same on behalf of the City.
PASSED AND APPROVED by the City Council of the City of Anna, Texas, on this 1lh day of April
2023.
ATTEST: