HomeMy WebLinkAboutRes 2025-02-1745 Setting a Public Hearing for the Creation of Sherley Farms PIDCERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COLLN COUNTY
CITY OF ANNA
We, the undersigned officers of the City of Anna. Texas (the "City"). hereby certify as
follows:
1. The City Council (the "Council") of the City convened in a regular meeting on
February 25, 2025, at the regular designated meeting place, and the roll was called of the duly
constituted officers and members of the Council, to wit:
Pete Cain, Mayor
Stan Carver II. Mayor Pro Tern
Elden Baker, Deputy Mayor Pro-Tem
Kevin Toten, Council Member
Ryan Henderson, City Manager
Carrie Land, City Secretary
Lee Miller, Council Member
Jody Bills. Council Member
Kelly Patterson -Herndon, Council Member
and all of said persons were present. except
thus constituting a quorum. Whereupon, among other business the following was transacted at
said meeting: a written
A RESOLUTION SETTING A PUBLIC HEARING UNDER SECTION
372.009 OF THE TEXAS LOCAL GOVERNMENT CODE ON THE
ADVISABILITY OF THE CREATION OF A PUBLIC' I %IPROVEMENT
DISTRICT AND IMPROVEMENTS WITHIN THE CITY OF ANNA,
TEXAS, TO BE KNOWN AS SHERLEY FARMS PUBLIC
IMPROVEMENT DISTRICT AND AUTHORIZING THE ISSUANCE OF
NOTICE BY THE CITY SECRETARY OF ANNA, TEXAS, REGARDING
THE PUBLIC HEARING.
was duly introduced for the consideration of the Council. It was then duly moved and seconded
that said Resolution be passed; and, after due discussion, said motion, carrying with it the passage
of said Resolution, prevailed and carried, with all members of the Council shown present above
voting "Aye," except as noted below:
NAYS: �� ABSTENTIONS:
2. A true, fiill, and correct copy of the aforesaid Resolution passed at the meeting
described in the above and foregoing paragraph is attached to and follows this Certificate: said
Resolution has been duly recorded in the Council's minutes of said meeting; the above and
foregoing paragraph is a true, full. and correct excerpt from the Council's minutes of said meeting
pertaining to the passage of said Resolution. the persons named in the above and foregoing
paragraph are the duly chosen. qualified, and acting officers and members of the Council as
indicated therein; that each of the officers and members of the Council was duly and sufficiently
notified officially and personally, in advance, of the time, place, and purpose of the aforesaid
meeting, and that said Resolution would be introduced and considered for passage at said meeting.
and each of said officers and members consented. in advance. to the holding of said meeting for
such purpose; and that said meeting was open to the public, and public notice of the time, place,
and purpose of said meeting was given all as required by the Texas Government Code, Chapter
551.
3. The Council has approved and hereby approves the Resolution; and the Mayor and
City Secretary hereby declare that their signing of this certificate shall constitute the signing of the
attached and following copy of said Resolution for all purposes.
SIGNED AND SEALED ON FEBRUARY 25, 2025.
ATTEST:
�QLY.fX�—
Carrie Land, City Secretary
Signature Page to a Certificate for
A RESOLUTION SETTING A PUBLIC HEARING UNDER SECTION 372.009 OF THE
TEXAS LOCAL GOVERNMENT CODE ON THE ADVISABILITY OF THE CREATION OF
A PUBLIC IMPROVEMENT DISTRICT AND IMPROVEMENTS WITHIN THE CITY OF
ANNA. TEXAS, TO BE KNOWN AS SHERLEY FARMS PUBLIC' IMPROVEMENT
DISTRICT AND AUTHORIZING THE ISSUANCE OF NOTICE BY THE CITY SECRETARY
OF ANNA, TEXAS, REGARDING THE PUBLIC HEARING
CITY OF ANNA, TEXAS
RESOLUTION NO. ZoZ 5 -o 2 — IILl5
A RESOLUTION SETTING API?BLIC HEARING UNDER SECTION
372.009 OF THE TEXAS LOCAL GOVERNMENT CODE ON THE
ADVISABILITY OF THE CREATION OF A PUBLIC IAIPROVEAIENT
DISTRICT AND IMPROVEMENTS WITHIN THE CITY OF ANNA,
TEXAS, TO BE KNOWN AS SHERLEY F_aRAIS PUBLIC
IMPROVEMENT DISTRICT AND AUTHORIZING THE ISSUANCE OF
NOTICE BY THE CITY SECRETARY OF ANNA, TEXAS, REGARDING
THE PUBLIC HEARING.
«'HEREAS, the City of Anna, Texas (the "City"). is authorized under Chapter 372 of the
Texas Local Government Code (the "Act"), to create a public improvement district within its
corporate limits; and
WHEREAS, on January 15, 2025, Tellus Texas III, LLC, a Texas limited liability
company and Sherley Partners, Ltd., a Texas limited partnership (collectively, the "Petitioners"),
being the owners of (1) taxable real property representing more than 50 percent of the appraised
value of taxable real property liable for assessment under the proposal, as determined by the current
roll of the appraisal district in which the property is located and (2) record owners of real property
liable for assessment under the proposal Nvlio: (A) constitute more than 50 percent of all record
owners of property that is liable for assessment under the proposal: or (B) own taxable real property
that constitutes more than 50 percent of the area of all taxable real property that is liable for
assessment under the proposal, to be included within the corporate limits of the City, submitted
and tiled with the City Secretary (the "City Secretary') a petition ("Petition"), attached as Exhibit
A. requesting the establishment of the Sherley Farms Public Improvement District for
approximately 970.482 acres of property to be included within the corporate limits of the City (the
"District"); and
NVHEREAS, said petition described public improvements that the property desires to be
made within the District: and
WHEREAS, the City Council (the "City Council") will hold a public hearing in
accordance with Section 372.009 of the Act regarding the advisability of establishing the District,
the nature of the improvements contemplated, the estimated costs of the improvements, the
boundaries of the District, the method of assessment. and the apportiorunent, if any, of the costs;
and
WHEREAS, it is hereby officially found and determined that the meeting at which this
resolution was considered was open to the public, and public notice of the time. place and purpose
of said meeting was given, all as required by Chapter 551, Texas Government Code; and
3
WHEREAS, in order to hold a public hearing for the creation of a public improvement
district, notice must be given in a newspaper of general circulation in the municipality before the
15a' day before the date of the hearing, and written notice must be mailed to the current address of
each owner, as reflected on the tax rolls, of property that would be subject to assessment under the
proposed public improvement district; and
WHEREAS, both newspaper notice and mailed notice must contain the information
required for notice as provided for in Section 372.009 of the Act; and
WHEREAS, the City Council has determined to hold a public hearing oil March 25, 2025
on the creation of the District; and
WHEREAS, the City Council finds that the passage of this Resolution is in the best interest
of the citizens of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ANNA, TEXAS:
Section 1: All of the above recitals are hereby found to be true and correct factual
determinations of the City and are hereby approved and incorporated by reference as though fully
set forth herein.
Section 2: City Staff reviewed the Petition and determined that the same complied with
the requirements of the Act and the City Council accepts the Petition.
Section 3: That a public hearing is hereby called for March 25. 2025 at 6:00 p.m. at the
Anna City Hall, Council Chambers, 120 W. 7th Street, Anna. Texas 75409 for the purpose of
hearing public testimony with respect to the advisability of establishing the District, the nature of
the improvements contemplated.. the estimated costs of the improvements, the boundaries of the
District, tine method of assessment, and the apportiorunent. if any. of the costs.
.Section 4: At such time and place the City Council will hear testimony regarding the
creation of the proposed public improvement district and the City Council may, within its sole
discretion, consider the adoption of a resolution authorizing the creation of the proposed District.
Section 5: Attached hereto as Exhibit A is the Petition for Creation of the Sherley Farms
Public Improvement District to be included within the City of Anna. Texas. which includes a metes
and bounds description for true District.
Section 6: Attached hereto as Exhibit B is a form of the Notice of Public Hearing (the
"Notice") tine form and substance of wllicll is hereby adopted and approved.
Section 7: Included as part of Exhibit A hereto —as Exhibit "A" thereof —is a legal
description of the 970.482 acres of property to be included in the proposed District.
4
Section 8: The City Secretary is hereby authorized and directed to cause said Notice to be
published in substantially the form attached hereto, in a newspaper of general circulation in the
City, and to mail a copy of said Notice to all landowners to be included within the boundaries of
the proposed District as required by law. The City Secretary shall provide Notice on or before the
15"' day before the March 25, 2025 hearing.
Section 9: If any portion of this resolution sliall, for any reason, be declared invalid by
any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof
and the City Council hereby determines that it would have adopted this resolution without the
invalid provision.
Section 10: This resolution shall be in full force and effect from and after its passage. and
it is accordingly so resolved.
Fe,Scvoac �S
PASSED AND APPROVED ON THIS 25TH DAY OFF-Gff, 2025.
ATTEST: APPROVED:
Carrie L. Land, City ecretary Pete Cain, Mayor
EXHIBIT A
Petition for Creation of Sherlev Farms Public Improvement District
A-1
STATE OF TEXAS §
§ PETITION TO ESTABLISH SHERLEY FARMS
COUNTY OF COLLIN § PUBLIC IMPROVEMENT DISTRICT
TO THE HONORABLE GOVERNING BODY OF THE CITY OF ANNA:
COMES NOW Tellus Texas III, LLC, a Texas limited liability company and Sherley
Partners, Ltd., a Texas limited partnership (the "Petitioners"), hereby requests and petitions the
City of Anna (the "City") to establish Sherley Farms Public Improvement District (the "District")
under and pursuant to the provisions of Chapter 372, Texas Local Government Code, as amended
(the "Act"), on the hereinafter described property situated within the extraterritorial jurisdiction of
the City, and in support thereof would respectfully show the following:
I.
The general nature of the proposed public improvements to be provided by the District
that are necessary for the development of the Property within the District and which shall
promote the interests of the City and confer a special benefit upon the Property, may include:
(1) street and roadway improvements, including related sidewalks, drainage, utility relocation,
signalization, landscaping, lighting, signage, off-street parking and right-of-way; (ii)
establishment or improvement of parks and open space, together with the design, construction
of any ancillary structures, features or amenities such as trails, playgrounds, walkways, lighting
and any similar items located therein; (iii) sidewalks and landscaping, including entry
monuments and features, fountains, lighting and signage; (iv) acquisition, construction, and
improvement of water, wastewater and drainage improvements and facilities and facilities
related thereto; (v) acquisition of real property, interests in real property, or contract rights in
connection with the Authorized Improvements (as defined below); (vi) payment of costs,
including, without limitation, design, engineering, permitting, legal, required payment,
performance and maintenance bonds, bidding, support, construction, construction management,
administrative and inspection costs, associated with developing and financing the public
improvements listed in (1) through (v) above; (vii) projects similar to those listed in subsections
(i) - (v) above or authorized by the Act, including similar off -site projects that provide a benefit
to the property within the District; (viii) any additional improvement projects authorized in the
Act; (ix) payment of costs associated with special supplemental services for improvement and
promotion of the District as approved by the City including services related to advertising,
promotion. health and sanitation, water and wastewater, public safety, security, business
recruitment, development, recreation, and cultural enhancement; and (x) payment of costs
associated with developing and financing the public improvements listed in (i) - (ix) above, as
well as the interest, costs of issuance, reserve funds, or credit enhancement of bonds issued for
the purposes described in (i) through (ix) above, and costs of establishing, administering and
operating the District (collectively, the "Authorized Improvements").
142096974N%2
II.
The estimated costs of constructing and acquiring all of the currently proposed Authorized
Irnprovernents, together with bond issuance costs, legal and financial fees, letter of credit fees and
expenses, bond credit enhancement expenses, capitalization of bond interest, the creation of a bond
reserve fiind. expenses incurred in the establislunent, administration and operation of the District
and acquisition. by purchase or otheiivise, of real property or contract rights in connection with
each authorized improvement, is presently estimated to be a total of approximately S300,000,000,
based on the estimated current and future costs of the Authorized Improvements to serve the area
within the District, as authorized by law. The total costs of the Authorized Improvements shall be
paid from any revenues or assessments lawfully available to the City, anticipating that the costs of
acquisition of the Authorized Improvements will be paid pursuant to a contractual reimbursement
obligation or the issuance of bonds secured by and payable from a special assessment levied on all
property within the District's boundaries for the Authorized Improvements.
The boundaries of the proposed District are fully described in Exhibit "A," attached hereto
and made a part hereof for all purposes.
IV.
The proposed method of assessment is to impose a special assessment to be paid in
installments on all useable property within the District. net of any public right-of-way, according
to the value of the property, without regard to the value of improvements on the property, or in
any other manner that results in imposing equal shares of the cost on property similarly benefitted.
A report will be prepared showing the special benefits accruing to property within the District and
how the costs of the Authorized�hnprovements are assessed to property on the basis of special
benefit received by the property from the Authorized Improvements.
V.
All costs incurred by the District shall be paid by the District, and there shall be no
apportionment of costs between the District and the City as a whole. The City will not be obligated
to provide any fluids to finance the proposed improvements except from assessments generated by
property within the District.
VI.
Management and administration of the District shall be by the City. The City may contract
from time to time with a private company for District administrative services.
VII.
The individuals executing this Petition are duly authorized to execute this Petition. and the
Petitioners request the establishment of the District.
VIII.
An Advisory Board may be established to develop and recommend an improvement plan
to the City Council of the City of Anna (the "Council"). The Petitioners request that if the Council
establishes an Advisory Board, that such Advisory Board should include representatives of the
Petitioners or their designees.
IX.
This Petition has been executed for and on behalf of (i) the owners of more than 50° o of
the taxable real property described in said Exhibit A, representing all of the appraised value of
taxable real property liable for assessment under this Petition as shown by the current roll of the
Collin County Appraisal District, and (ii) the record owners of more than 50% of the real property
liable for assessment under this Petition, and shall be filed with the Secretary of the City. The
Petitioners own 100% of the property to be located in the District and liable for assessment.
WHEREFORE. PREMISES CONSIDERED. Petitioners prays that the Council:
(1) duly consider this Petition and adopt a Resolution finding (i) that this
Petition complies with all legal requirements; (ii) that the proposed Authorized Improvements are
necessary, advisable and will provide a public use and benefit to the City; and (ill) that the
estimated costs of the improvements, the method of assessment and the apportionment of costs
between the District and the City are reasonable and acceptable;
(2) call a public hearing, give notice thereof as required by law and hold such
hearing on the advisability of the Authorized Improvements specified in this Petition: and
(3) grant all matters requested in this Petition and grant such other relief. in law
or in equity, to which Petitioners shall show themselves to be entitled.
[Signature pages follol s]
EXECUTED on this January 13 )())S
PETITIONERS:
TELLUS TEXAS III, LLC,
a "Texas limited liability company
By: Tellus-Anna, LI.C, a Texas limited
liability company and manager of Tellus
Texas III, LLC
By:.
David Blom, Manager ;
SHERLEY PARTNERS, LTD..
a Texas limited partnership
By: TT Sherley LLC.
a Texas limited liability company, its
General Partner
Tasha Escoto, its manager
EXECLTED on this January 13 2025,
PETITIONERS:
TELLUS TEXAS III, LLC,
a Texas limited liability company
By: Tellus-Aiuia, LLC, a Texas limited
liability company and manager of Tellus
Texas III, LLC
LIM
David Blom, Manager
SHERLEY PARTNERS, LTD.,
a Texas limited partnership
By: TT Sherley LLC,
a Texas limited liability company, its
General Partner
Taslia Escoto, its manager
EXHIBIT A
LEGAL DESCRIPTION OF THE TRACTS
SHERLEY FARMS SOUTH TRACT
LEGAL DESCRIPTION
970.482 ACRES
BEING a tract of land situated in the G. Morrison Survey, Abstract No. 559, the S. Moore Survey, Abstract
No. 625, and the J. Fisher Survey, Abstract No. 305, in Collin County, Texas, being part of Tracts 1.1, 1.2,
1.3, 1.4, all of Tract 1.6, recorded in Volume 4466, Page 153, Deed Records, Collin County, Texas (DRCCT),
and part of Tracts 1.1, 1.2, 1.3, and 1.4, recorded in Volume 4466, Page 183 DRCCT, and all of Tract 1.2,
recorded in Volume 4466, Page 201 DRCCT, with the subject tract being more particularly described as
follows:
BEGINNING at a 1/2" iron rod found on the north line of Farm to Market Road 455, a variable width public
right-of-way, for the southeast corner of a tract conveyed to Timothy P. Adams and Patricia S. Adams,
recorded in Document No. 20170117000070510, Official Public Records, Collin County, Texas (OPRCCT);
THENCE N 00°40'51" E, along the east line of said Adams tract, passing at 19.16 feet a 5/8" iron rod with
plastic cap found for witness, continuing a total distance of 321.14 feet to a 1/2" iron rod found;
THENCE N 01°18'15" E, 307.48 feet continuing along the east line thereof to a 1/2" iron rod with plastic
cap found for the southeast corner of a tract conveyed to Wilcox Anna Properties, LLC, recorded in
Document No. 20090225000210920 OPRCCT;
THENCE N 01°02'30" E, 904.66 feet along the east line thereof, and of an east line of a tract conveyed to
City of Anna recorded in Volume 5961, Page 7136 DRCCT, to a 1/2" iron rod with plastic cap stamped
"SPIARSENG" set for the southeast corner of "The Town Farm" First Tract, conveyed to MJLA Adams, Ltd.,
recorded in Document No. 20110505000462590 OPRCCT;
THENCE N 00°56'20" E, 1597.53 feet along the east line of said MJLA Adams tract to a 1/2" iron rod with
plastic cap stamped "SPIARSENG" set for the northeast corner thereof;
THENCE N 87°10'06" W, 281.88 feet along the north line of said MJLA Adams tract to a 3/8" iron rod found
for the southeast corner of a tract conveyed to Equity Trust Company Custodian FBO Raj Kakarlapudi IRA
and NKS Estates, LLC, recorded in Document No. 20210628001299290 OPRCCT;
THENCE N 02°29'42" E, 2152.51 feet along the east line thereof to a 3/8" iron rod found on the east line
of Farm to Market Road 2862, a 90-foot-wide public right-of-way;
THENCE along the east line thereof, around a non -tangent curve to the left having a central angle of
20°03'34", a radius of 363.31 feet, a chord of N 12°39'47" E - 126.55 feet, an arc length of 127.20 feet;
THENCE N 02°38'00" E, 324.15 feet continuing along the east line of said right-of-way to a 1/2" iron rod
with plastic cap found for the southwest corner of a tract conveyed to Anna Independent School District,
recorded in Volume 5816, Page 2962 DRCCT;
THENCE S 88°36'00" E, 946.63 feet along the south line thereof;
THENCE N 01°24'00" E, 946.63 feet along the east line of said Anna ISD tract to the intersection thereof
with the south line of Farm to Market Road 2862;
THENCE along the south line thereof, the following:
S 88°36'00" E, 1840.60 feet;
S 87°35'00" E, 950.82 feet;
S 87°54'00" E, 852.06 feet;
5 88-23-00" E, 1005.18 feet;
And a tangent curve to the left having a central angle of 61°39'58", a radius of 363.31 feet, a chord of N
60°47'01" E - 372.42 feet, an arc length of 391.02 feet to a 1/2" iron rod with plastic cap stamped
"SPIARSENG" set for a westerly corner of a tract conveyed to Larry Kropman Bennett and Jill Rae Bennett,
recorded in Volume 1718, Page 193 DRCCT, and from which a 5/8" iron rod with plastic cap found bears
N 17-37-19" E, 154.65 feet (a chord bearing and distance);
THENCE S 02°42'15" W, 147.06 feet along the west line of said Bennett tract to a 1/2" iron rod with plastic
cap stamped "SPIARSENG" set;
THENCE S 88°34'52" E, along the south line of said Bennett tract, passing at 317.47 feet a 3/8" iron rod
found for the southwest corner of a tract conveyed to the Nagamanohar Javvaji and Chaya Javvaji Living
Trust, recorded in Document No. 20160209000150410 OPRCCT, continuing a total distance of 1164.17
feet to a 1/2" iron rod found for the southeast corner thereof;
THENCE N 01°54'20" W, 404.61 feet along the east line thereof to a 1/2" iron rod with plastic cap found
for the southwest corner of a tract conveyed to Jacob Knettel and Alexandra T. Knettel, recorded in
Document No. 20160902001176800 OPRCCT;
THENCE N 88°51'58" E, 711.14 feet along the south line thereof to a 1/2" iron rod with plastic cap found
for the upper southwest corner of a tract conveyed to Bobby R. Beall and Mary Reloa Beall, Trustees of
the Beall Family Living Trust, recorded in Volume 5842, Page 1374 DRCCT;
THENCE N 89°53'22" E, 543.59 feet along the upper south line thereof to a fence post found;
THENCE S 00°43'46" W, 1256.27 feet along a westerly line of said Beall tract to a 1/2" iron rod found for
a northwesterly corner of a tract conveyed to JDI Investors, LP, recorded in Document No.
20141016001133750 OPRCCT;
THENCE 5 00°27'02" W, 1121.81 feet, generally along a fence and along a westerly line of said JDI tract to
a fence post found;
THENCE N 89°10'40" W, 1167.05 feet, generally along a fence and along a southerly line of said JDI tract
to a fence post found;
THENCE S 00°10'31" E, 1608.22 feet, generally along a fence and along a westerly line of said 1D1 tract to
a 1/2" iron rod found for the northeast corner of a tract conveyed to WKG Enterprises, Ltd., recorded in
Volume 4478, Page 2546 DRCCT;
THENCE N 88°26'32" W, 1013.41 feet along the north line thereof to a 1/2" iron rod found for the
northeast corner of a tract conveyed to Miles and Bobbi Martin, recorded in Document No.
20220331000521330 OPRCCT;
THENCE N 88°01'21" W, 524.66 feet along the north line thereof to a 1/2" iron rod with plastic cap
stamped "SPIARSENG" set;
THENCE N 87°54'42" W, continuing along the north line of said Martin tract, passing at 261.79 feet a 3/4"
iron pipe found for the northeast corner of a tract conveyed to Zen Assets LLC, recorded in Document No.
2022000142528 OPRCCT, and continuing along the north line thereof a total distance of 523.20 feet to a
1/2" iron rod with plastic cap stamped "SPIARSENG" set;
THENCE S 00°57'28" W, 2078.20 feet along the west line thereof to a 1/2" iron rod found for the southwest
corner of said Zen Assets tract, being a bend point in County Road 424, a public road;
THENCE S 00°31'42" E, 913.32 feet along said road to a 60d nail found for a bend point thereof;
THENCE N 88°34'43" W, 435.86 feet continuing along said road to a point for the intersection of County
Road 424 with the north line of Farm to Market Road 455;
THENCE along the north line of said right-of-way, the following:
N 00-51-24" E, 46.08 feet to a wood highway monument;
N 89°08'36" W, 1080.65 feet to a wood highway monument;
A tangent curve to the left having a central angle of 03°40'00", a radius of 5774.58 feet, a chord of S
89°01'24" W - 369.48 feet, an arc length of 369.55 feet to a 1/2" iron rod with plastic cap stamped
"SPIARSENG" set;
N 02°48'36" W, 5.00 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
S 87°11'24" W, 1677.79 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
S 88°35'24" W, 857.61 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
S 87°45'48" W, 346.50 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
And S 88°35'24" W, 209.16 feet to the POINT OF BEGINNING with the subject tract containing 42,274,206
square feet or 970.482 acres of land.
SHERLEY FARMS NORTH TRACT
LEGAL DESCRIPTION
153.110 ACRES
BEING a tract of land situated in the J. Farris Survey, Abstract No. 330, and the S. Moore Survey, Abstract
No. 625, in Collin County, Texas, being part of Tract 1.7, recorded in Volume 4466, Page 153, Deed
Records, Collin County, Texas (DRCCT), and part of Tracts 1.5 and 1.6, recorded in Volume 4466, Page 183
DRCCT, and all of Tract 1.1, recorded in Volume 4466, Page 201 DRCCT, with the subject tract being more
particularly described as follows:
BEGINNING at a 1/2" iron rod with plastic cap stamped "SPIARSENG" set on the north line of Farm to
Market Road 2862, a called 90-foot-wide right-of-way, for the southeast corner of the "First Tract"
conveyed to Daniel W. Koen and Sue Ann Burleson-Koen, recorded in Document No. 93-0107055 DRCCT,
from which a 1/2" iron rod found bears N 88°36'00" W, 1326.83 feet;
THENCE N 01°09'20" E, 958.23 feet along the common line thereof to a fence post found for a southwest
corner of a tract conveyed to 3Mc Joint Venture, recorded in Volume 3670, Page 174 DRCCT;
THENCE along the common line thereof the following:
S 87°43'06" E, 1297.37 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
N 01-31-00" E, 90.36 feet to a point on the bank of a reservoir;
N 01-23-00" E, 892.67 feet to a point on the bank of a reservoir;
N 00°54'00" E, 297.22 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
And N 01°19'00" E, passing at 346.16 feet a 1/2" iron rod found for witness, being on the south line of
County Road 427, a public road, continuing into said road a total distance of 363.52 feet to a point for
corner;
THENCE S 88°36'15" E, 2111.97 feet along said road to a point for corner being the northwest corner of a
tract conveyed to Tina Trimbur, recorded in Volume 5570, Page 1829 DRCCT;
THENCE S 01°46'06" W, 515.24 feet along the west line thereof to a 1/2" iron rod found for the northwest
corner of a tract conveyed to Todd O'Brien Hannan and Kimberly Michele Hannan, co -trustees of the TKSL
Tattoo Revocable Trust, recorded in Document No. 20210422000816440, Official Public Records, Collin
County, Texas;
THENCE along the west line thereof, the following:
S 02°08'00" W, 125.96 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
S 01°43'00" W, 589.97 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
S 01°36'00" W, 319.63 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
And S 01°07'00" W, 163.58 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set on the north
line of Farm to Market Road 2862, and from which a 1" iron rod found bears S 71°47'28" W, 1.15 feet;
THENCE along the north line of said Farm to Market Road, the following:
A non -tangent curve to the left having a central angle of 29°26'09", a radius of 363.31 feet, a chord of S
15°56'04" W - 184.61 feet, an arc length of 186.65 feet to a 1/2" iron rod with plastic cap stamped
"SPIARSENG" set;
S 01°13'00" W, 446.03 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
A tangent curve to the right having a central angle of 90°24'00", a radius of 273.31 feet, a chord of S
46°25'00" W - 387.87 feet, an arc length of 431.22 feet to a 1/2" iron rod with plastic cap stamped
"SPIARSENG" set;
N 88°23'00" W, 1004.80 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
N 87-54-00" W, 851.44 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
N 87°35'00" W, 951.37 feet to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set;
And N 88°36'00" W, 266.77 feet to the POINT OF BEGINNING with the subject tract containing 6,669,493
square feet or 153.110 acres of land.
EXHIBIT B
CITY OF ANNA, TEXAS
NOTICE OF PUBLIC HEARING REGARDING THE CREATION OF A PtTBLIC
IMPROVEMENT DISTRICT
Pursuant to Section 372.009(c) and (d) of tile Texas Local Govermuent Code, as amended
(the "Act'), notice is hereby given that the City Council of the City ofAiula, Texas ("City"). will
hold a public hearing to accept public conuiients and discuss the petition (the 'Petition"), filed by
Tellus Texas III, LLC, a Texas limited liability company and Sherley Partners, Ltd., a Texas
limited partnership (collectively, the "Petitioners"). requesting that the City create the Sherley
Farms Public Improvement District (the "District') to include property owned by the Petitioners
and further described herein (the "Property').
Time and Place of the Hearing. The public hearing will start at 6:00 p.m. on March 25, 2025 at
the Anna City Hall, Council Chambers, 120 W. 7th Street. Anna, Texas 75409.
General Nature of the Proposed Authorized Improvements. The proposed public
improvements may include: (i) street and roadway improvements, including related sidewalks,
drainage, utility relocation, signalization, landscaping, lighting, signage, off-street parking and
right-of-way; (ii) establishment or improvement of parks and open space, together with the design,
construction of any ancillary structures, features or amenities such as trails, playgrounds,
walkways, lighting and any similar items located therein; (iii) sidewalks and landscaping,
including entry monuments and features, fountains, lighting and signage, (iv) acquisition,
construction, and improvement of water, wastewater and drainage improvements and facilities and
facilities related thereto; (v) acquisition of real property, interests in real property, or contract rights
in connection with the Authorized Improvements (as defined below); (vi) payment of costs,
including. without limitation, design, engineering, permitting, legal, required payment,
performance and maintenance bonds, bidding, support, construction, construction management.
administrative and inspection costs, associated with developing and financing the public
improvements listed in (i) through (v) above; (vii) projects similar to those listed in subsections (i)
- (v) above or authorized by the Act, including similar off -site projects that provide a benefit to the
property within the District; (viii) any additional improvement projects authorized in the Act, (ix)
payment of costs associated with special supplemental services for improvement and promotion
of the District as approved by the City including services related to advertising, promotion. health
and sanitation, water and wastewater. public safety, security, business recruitment. development.
recreation, and cultural enhancement; and (x) payment of costs associated with developing and
financing the public improvements listed in (i) - (ix) above, as well as the interest. costs of issuance,
reserve funds, or credit enhancement of bonds issued for the purposes described in (i) through (ix)
above, and costs of establishing, administering and operating the District (collectively, the
"Authorized Improvements"); and (b) the payment of expenses incurred in the establishment,
administration. and operation of the District, including maintenance costs, costs of issuance,
funding debt service and capitalized interest reserves and credit enhancement fees of any bonds
issued by or on behalf of the District, if necessary. These Authorized Improvements shall promote
the interests of the City and confer a special benefit upon the Property.
Estimated Cost of the Authorized Improvements. The estimated cost to design, acquire and
construct the Authorized Improvements, together with bond issuance costs, eligible legal and
financial fees, eligible credit enhancement costs and eligible costs incurred in establishment.
administration and operation of the District is approximately S300,000.000.
Proposed District Boundaries. The District is proposed to include approximately 970.482 acres
of land to be included within the city limits of the City and as more particularly described by a
metes and bounds description available for public inspection at the office of the City Secretary.
120 W. 7tlr Street. Anna, Texas 75409.
Proposed Method of Assessment. The City shall levy assessments on each parcel within the
District in a manner that results in imposing equal shares of the costs on property similarly
benefited. All assessments may be paid in frill at any time (including interest and principal), and
certain assessments may be paid in annual installments (including interest and principal). If an
assessment is allowed to be paid in installments, then the installments must be paid in amounts
necessary to meet anrival costs for those Authorized Improvements financed by the assessment,
and must continue for a period necessary to retire the indebtedness of those Authorized
Improvements (including interest).
Proposed Apportionment of Cost between the District and the City. The City will not be
obligated to provide any fields to finance the Authorized Improvements. except for assessments
levied on real property within the District. No municipal property in the District shall be assessed.
All of the costs of the Authorized Improvements will be paid from assessments and from other
sources of fiends, if any, available to the Petitioner.
During the public hearing, any interested person may speak for or against the establishment of the
District and the advisability of the improvements to be made for the benefit of the property within
the District.
lim