2025-013 - Approved proposed assessments to be levied against certain assessable property within Improvement Area #1 of the Forestbrook Public Improvement District No. 1 pursuant to the provision of Chapter 372 of the Texas LGC, as amended

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Capitalized terms used in this Service and Assessment Plan shall have the meanings given to them in Section I unless otherwise defined in this Service and Assessment Plan or unless the context in which a term is used clearly requires a different meaning. Unless otherwise defined, a reference to a "Section," an "'Exhibit," or an "'Appendix" shall be a reference to a Section of this Service and Assessment Plan or an Exhibit or Appendix attached to and made a part of this Service and Assessment Plan for all purposes. On October 14, 2024, the City Council passed and approved Resolution No. 2024-044 authorizing the establishment of the District in accordance with the PID Act.. which authorization was effective upon approval in accordance with the PID Act. The purpose of the District is to finance the Actual Costs of Authorized Improvements that confer a special benefit on approximately S9.621 acres located within the corporate limits of the City, as described by the legal description on Exhibit 1-1 and depicted on Exhibit A-1. The PID Act requires a Service Plan must (i) cover a period of at least five years; (ii) define the annual indebtedness and projected cost of the Authorized Improvements; and (iii) include a copy of the notice form required by Section 5.014 of the Texas Property Code,, as amended. The Service Plan is contained in Section IV and the notice form is attached as Appendix B. The PID Act requires that the Service Plan include an Assessment Plan that assesses the Actual Costs of the Authorized Improvements against the Assessed Property within the District based on the special benefits conferred on such property by the Authorized Improvements. The Assessment Plan is contained in Sect*lon V. The PID Act requires an Assessment Roll that states the Assessment d against each Parcel determined by the methochosen by the City Council. The Assessment against each Parcel of Assessed Property must be sufficient to pay the share of the Actual Costs of the Authorized Improvements apportioned to such Parcel and cannot exceed the special benefit conferred on the Parcel by such Authorized Improvements. The Improvement Area #1 Assessment Roll is itcluded as Exhibit F-1. M111011), FORESTBROOK PUBLIC IMPROVEMENT DISTRICT SERVICE AND ASSESSMENT PLAN