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<br />WHEREAS, Chapter 372, Texas Local Government Code authorizes the City to eater <br /> <br /> <br />into a contract with the Authority for the purposes of providing management for and completing <br /> <br /> <br />and providing the services and improvements set forth in the Service Plan and otherwise <br /> <br /> <br />performing the functions set forth in this Agreement; and <br /> <br /> <br />WHEREAS, the City desires to contract with the Authority to provide these services <br /> <br /> <br />during the term of the Service Plan, and <br /> <br /> <br />WHEREAS, the Authority was created to aid and assist the City in the manner set forth <br /> <br /> <br />above, and the board of directors is willing to enter into a contract with the City setting forth the <br /> <br /> <br />duties and responsibilities of the Authority and the City; <br /> <br /> <br />NOW, THEREFORE, for and in consideration of the premIses and the mutual <br /> <br /> <br />covenants and agreements herein contained, it is agreed as follows: <br /> <br />I. <br /> <br />Definitions <br /> <br />"Agreement" shall mean this Agreement and all attachments, between the City and the <br /> <br />Authority. <br /> <br /> <br />"Annual Service Plan" shall mean the Services to be provided pursuant to the Service <br /> <br /> <br />Plan on an annual basis as set forth in the Pill's annual budget as approved by the City Council <br /> <br />of the City. <br /> <br /> <br />"Assessments" shall mean the special assessments levied by the City Council on the <br /> <br />property in the PID that will be benefited by the Services to pay the cost of the Services. <br /> <br /> <br />"Assessment Plan" or "Plan of Assessment" shall mean the plan and method the City <br /> <br />uses in determining how Assessments should be levied against benefited properties in the Pill in <br /> <br />order to pay the costs and expenses of implementing the Service Plan. <br /> <br />2 <br /> <br />HOU:2680299.1 <br />