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RESOLUTION NO. 2025 - <br />RESOLUTION APPROVING THE FORM AND AUTHORIZING THE MAYOR <br />TO EXECUTE THE "REIMBURSEMENT AGREEMENT - FORESTBROOK <br />PUBLIC IMPROVEMENT DISTRICT NO. 1" BETWEEN THE CITY OF PARIS, <br />TEXAS AND LONE STAR PLANNED DEVELOPMENTS, LLC <br />WHEREAS, the City Council (the "Council") of the City of Paris, Texas (the "City"), has <br />previously created the Forestbrook Public Improvement District No.1 (the "District"); and <br />WHEREAS, there has been presented to the Council the "Reimbursement Agreement <br />- Forestbrook Public Improvement District No. 1", dated April 14, 2025 (the "Reimbursement <br />Agreement"), between the City and Lone Star Planned Developments, LLC, a Texas limited <br />liability company; and <br />WHEREAS, the Reimbursement Agreement satisfies the requirements of Section <br />372.023 of the Public Improvement District Assessment Act and is an appropriate method of <br />reimbursement for the costs associated with the construction and development of certain <br />authorized improvements within the District; and <br />WHEREAS, the Council finds and determines that it is necessary and in the best <br />interests of the City to approve the form and content of the Reimbursement Agreement; and <br />WHEREAS, the meeting at which this Resolution is considered is open to the public <br />as required by law, and the public notice of the time, place and purpose of said meeting was <br />given as required by Chapter 551, Texas Government Code, as amended; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />PARIS, TEXAS AS FOLLOWS: <br />SECTION 1. The findings and premises contained in the preambles above are <br />hereby deemed to be true and correct and incorporated herein. <br />SECTION 2. The form and content of the Reimbursement Agreement, which <br />is attached hereto as Exhibit A and is incorporated herein for all purposes, is hereby <br />approved, and the Mayor is authorized to execute such Reimbursement Agreement on <br />behalf of the City. <br />SECTION 3. This Resolution shall be effective immediately upon its <br />adoption. <br />PASSED, APPROVED AND EFFECTIVE this April 14, 2025. <br />Mihir Pankaj, Mayor <br />