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Agenda Packet
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07-14-2025
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Agenda Packet
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become Non -Benefitted Property, the owner of such Lot, Parcel or portion thereof shall pay to <br />the City, or cause to be paid to the City, the full amount of the Assessment, plus all Prepayment <br />ch Assessed Prooertv, nrior to or concurren <br />a recordable "Notice of Assessment Termination," a form of which is attached hereto as Exhibit <br />H. <br />Prior to the City approving a final subdivision plat, the Administrator will certify that such plat <br />will not result in the Assessment per Lot for any Lot Type to exceed the Maximum Assessment. If <br />shall each be reduced to the Maximum Assessment, and (2) the person or entity filing the plat <br />shall pay to the City, or cause to be paid to the City, the amount the Assessment was reduced, <br />plus Prepayment Costs and Delinquent Collection Costs, if any, prior to the City approving the <br />final plat. The City's approval of a plat without payment of such amounts does not eliminate the <br />obligation of e person #.... entity filing the platto pay amounts. <br />aggregate Assessments for any Lot exceed the Maximum Assessment. <br />lJ0jWW*VT4T� c <br />If the Actual Costs of completed Authorized Improvements are less than the Assessments, then <br />(i) in the event PID Bonds have notbeen •• for the purpose of financing Authorized <br />Improvements affected by such reduction in Actual Costs, the City Council shall reduce each <br />Assessment on a pro rata basis such that the sum of the resulting reduced Assessments for all <br />LrtLJ?l Coststj,;it were P.Yviza,sled. or hil in the event that <br />such reduction in Actual Costs, the Trustee shall apply amounts on deposit in the applicable <br />directed by the City pursuant to the terms of such Indenture. Such excess PID Bond proceeds <br />may be used for any purpose ^ # `# by d^ Assessments shall never b <br />reduced to an amount less than the amount required to pay all outstanding debt service <br />11111111 11111 IF <br />FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1 19 <br />SERVICE AND ASSESSMENT PLAN <br />
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