04-09-18 Regular Meeting of the La Porte City Council

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the capacities in its wastewater collection and treatment facilities so that capacity to serve development within the District is available at the time such improvements are to be connected to the Facilities. To obligation under this Section 6.02, the District shall provide the City no less than annually a written projection of the new improvements within the District expected to be connected to the Facilities within the coming year, and such other related information as the City may reasonably require. The City confirms that 1,200 equivalent single-family connections of excess wastewater treatment are available to serve the Tract and will remain available to serve the Tract so long as development of the Tract commences within 3 years of the date of this Agreement and is complete within 15 years of the date of this Agreement. Section 6.03 Letter of Capacity Assurance; Assignability. The City agrees that the City shall, upon reasonable request from the District, issue a letter of assurance to the owner of platted property within the District confirming water and wastewater utility availability for such platted property, based upon the standard City criteria published by the City regarding the calculation of water and wastewater requirements for various types of improvements. ARTICLE VII DISTRICT AND OVERLAPPING TAXES Section 7.01 Overlapping Taxes. The City agrees that no portion of City taxes to be derived from the taxpayers of the District will be used to finance elsewhere in the City services the District proposes to provide, and the City and the District agree that no portion of City taxes to be derived from the taxpayers of the District are required to be rebated to the District. Section 7.02 District Taxes. The District is authorized to assess, levy, and collect ad valorem taxes upon all taxable properties within the District to provide for (i) the payment in full of the District Obligations, including principal, redemption premium, if any, or interest on the Bonds and to establish and maintain any interest and sinking fund, debt service fund, or reserve fund and (ii) for maintenance purposes, all in accordance with applicable law. The parties agree that nothing herein shall be deemed or construed to prohibit, limit, restrict, or otherwise inhibit the District's authority to levy ad valorem taxes as the Board of Directors of the District from time to time in its sole discretion may determine to be necessary for the Facilities consistent with the consent conditions in the Consent Ordinance. The City and the District recognize and agree that all ad valorem tax receipts and revenues collected by the District shall become the property of the District and may be applied by the District to the payment of all proper debts, obligations, costs, and expenses of the District and may be pledged or assigned to the payment of all or any designated portion of the principal or redemption premium, if any, or interest on the Bonds or otherwise in accordance with applicable law. ARTICLE VIII DISSOLUTION OF THE DISTRICT 9