2024-034 - Accepting for filing a petition for establishment of the Foresbrook Public Improvement District No. 1

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N0. 2024-034 A RESOLUTION OF THE CITY OF PARIS, TEXAS ACCEPTING FOR FILING A PETITION FOR ESTABLISHMENT OF THE FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1; CALLING A PUBLIC HEARING ON THE ADVISABILITY OF THE CREATION OF SAID DISTRICT; AUTHORIZING THE ISSUANCE OF NOTICE BY THE CITY CLERK REGARDING THE PUBLIC HEARING; AND APPROVING A PROFESSIONAL SERVICES REIMBURSEMENT AGREEMENT WHEREAS, the City of Paris, 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 July 10, 2024, Lone Star Planned Developments, LLC, a Texas limited liability company, being the owner 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 owner of real property liable for assessment under the proposal who: (A) constitutes more than 50 percent of all record owners of property that is liable for assessment under the proposal; or (B) owns 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, within the corporate limits of the City, submitted and filed with the City Clerk a petition (the "Petition"), attached as Exhibit A, requesting the establishment of the Forestbrook Public Improvement District No. 1, consisting of approximately 59.62 acres of property within the corporate limits of the City (the "District"); and WHEREAS, the Petition described public improvements that the property desires to be made within the public improvement district; and WHEREAS, the City Council of the City (the "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 apportionment, 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 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 15th 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 3