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<br />"Assessment Revenue" shall mean the Assessments, any earnings or profits realized from <br /> <br />investing and re-investing the Assessments, and penalties and interest on collections of the <br /> <br />Assessments. <br /> <br />"Assessment Roll" shall mean the roll or listing of benefited properties in the PID that <br /> <br /> <br />will be assessed for the cost of the Services to be provided by the PID in the Service Plan <br /> <br /> <br />including aJist of the amount assessed against each property, the description of each property, <br /> <br /> <br />and the owner of each property. <br /> <br />"Budget" shall mean an annual Budget of the Authority to be accomplished with <br /> <br />Assessment Revenue pursuant to the Service Plan. A Budget must be reviewed and approved by <br /> <br />the board of directors of the Authority and the City Council of the City. <br /> <br /> <br />~~Director" shall mean the Director of the City's Planning Department or its successor or <br /> <br /> <br />such other person designated by the Director to perform his duties hereunder. <br /> <br />"Pill" shall mean the Lakes at Fairmont Greens Public Improvement District created by <br /> <br />the City. <br /> <br /> <br />"Service Plan" shall mean the ongoing service plan setting forth the Services to be <br /> <br /> <br />provided by the Pill over a period offifteen (15) years as approved by the Council of the City. <br /> <br /> <br />"Services" shall mean the services and improvements to be provided by the Pill pursuant <br /> <br />to the Service Plan. <br /> <br />ll. <br /> <br />Ene:ae:ement of Authority <br /> <br /> <br />The City hereby engages the Authority, and the Authority hereby agrees to provide, <br /> <br /> <br />furnish, or perform the services to be provided for the City with respect to the Pill pursuant to <br /> <br /> <br />this Agreement. <br /> <br />3 <br /> <br />HOU:2680299.l <br />