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

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Section 4. Boundaries. The proposed boundaries of the District are described in Exhibit A. Section 5. Method of assessment. The City shall levy assessments on each lot or parcel within the District in a manner that results in imposing equal shares of the costs on property similarly benefitted. Section, 6. Aj2pgrtigAment of cost. The proposed apportionment of cost between the District and the City as a whole is as follows: The City will not be obligated to provide any funds to finance the Authorized Improvements. All of the costs of the Authorized Improvements will be paid from assessments levied on properties in the District and from other sources of funds, if any, available to the Petitioner. Section 7. Management of the District,. The management of District will be the ultimate responsibility of the City; provided that, to the extent allowed by law, the City may initially contract with a private company to cant' out all or a part of such City responsibilities, as well as the day-to-day management and administration of the District. Section 8. Concurrence of the Petitioner. The Petitioner signing this petition concurs in and requests the establishment of the District. Section 9. AdvispiNhoard. An advisory board is not required but may be established by the City to develop and recommend an improvement plan to the City Council of the City. This petition shall be filed with the Secretary of the City in support of the creation of the District by the City Council of the City as herein provided. The undersigned request that the City Council grant its consent as above stated. RESPECTFULLY SUBMITTED, on this day of July, 2024. [Signature on following page] 2 0 1958 1.00000 1\ 4895-8205-9978.v 1