HomeMy WebLinkAboutO-2010-3275 First Amended/Restated Service/Assessment Plan for Lakes at Fairmont Greens Public Improvement District17
REQUEST FOR CITY COUNCIL AGENDA ITEM
Agenda Date Requested: September 13, 2010
Requested By: John Joerns
Department: City Manager's -OO ice
Report: Resolution: Ordinance: X
Exhibits: Ordinance and Exhibit A
Exhibits: Letter to 65 La Porte Ltd., dated September 1, 2010
Budeet
Source of Funds:
Account Number:
Amount Budgeted:
Amount Requested
Budgeted Item: YES NO
Exhibits Strike & Underline of changes in original Ordinance and Exhibit A
SUMMARY & RECOMMENDATION
In September 2004, 65 La Porte Ltd., petitioned the City to create a Public Improvement District (PID). A
PID was created and after discussion/negotiation with the developer the adopted service and assessment plan and
related documents included two components; (1) an assessment for capital improvements and (2) an assessment for
maintenance of PID related items.
Recent discussions with the developer and our PID/TIRZ/Redevelopment Authority consultants considered
re-structuring(s) of the PID up to and including deletion of the maintenance component for PID related items.
The approach preferred by both the developer and staff is to delete the maintenance component with the
capital component to be maintained. Approving this ordinance (with Exhibit A, First Amended and Restated
Service and Assessment Plan) will remove the maintenance component, but keep in place the capital assessment.
If approved what will be required as a follow up is a re -plat of Lakes of Fairmont Greens Section One,
restructuring of the Developers Agreement (and its Exhibits) and a public hearing and approval of an ordinance
levying the assessment for the capital component for Section One.
The developer has been provided a letter acknowledging the follow up items that are required before
building permits will be considered.
ordinance approving the First Amended and Restated Service and Assessment Plan.
Bottoms, City Manager Date
'05 -
ORDINANCE NO. 50
AN ORDINANCE OF THE CITY COUNCIL OF LA PORTE, TEXAS,
APPROVING THE FIRST AMENDED AND RESTATED SERVICE AND
ASSESSMENT PLAN FOR THE CITY OF LA PORTE LAKES AT
FAIRMONT GREENS PUBLIC IMPROVEMENT DISTRICT; CONTAINING
A REPEALING CLAUSE; CONTAINING AN OPEN MEETINGS CLAUSE;
PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the City of La Porte (the "City") is authorized pursuant to TEXAS LocAL
GOVERNMENT CODE, chapter 372, as amended ("Chapter 372") to create public
improvement districts for the purposes described therein; and
WHEREAS, the City received a petition (the "Petition") requesting the creation of
the City of La Porte Lakes at Fairmont Greens Public Improvement District (the "PID"),
held a public hearing, and created the PID in accordance with the applicable provisions of
Chapter 372; and
WHEREAS, the City passed and adopted Resolution No. 2007-02 on January 22,
2007 establishing the Lakes at Fairmont Green Public Improvement District; and
WHEREAS, the City passed and adopted Ordinance No. 3067 on March 10, 2008
approving the Service and Assessment Plan for the Lakes at Fairmont Green Public
Improvement District; and
WHEREAS, the City Council wishes to adopt an amended and restated Service and
Assessment Plan with respect to the PID; NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, that:
Section 1. The facts recited in the preamble hereto are found to be true and
correct.
Section 2. Ordinance No. 3067 and the Service and Assessment Plan adopted
thereby are hereby repealed in their entirety and that the First Amended and Restated
Service and Assessment Plan attached to this Ordinance as Exhibit A is hereby approved
and adopted on behalf of the PID, and the Mayor, City Secretary and any other appropriate
officials of the City are hereby authorized to take all necessary actions on behalf of the City
to implement the terms thereof in accordance therewith.
1
Section 3. It is hereby found, determined and declared that a sufficient written
notice of the date, hour, place and subject of this meeting of the City Council was posted at
a place convenient to the public at the City Hall of the City for the time required by law
preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas
Government Code, and that this meeting has been open to the public as required by law at
all times during which this Ordinance and the subject matter thereof has been discussed,
considered and formally acted upon. City Council further ratifies, approves and confirms
such written notice and the contents and posting thereof.
PASSED AND APPROVED this the 2) day of ,-S'P�-ek(a-1(11 C)_
Attest:
1141) A
Martha Gillett, City Secretary
Approve as to form:
Clark T. Askins, Assistant City Attorney
2
L`QiAs Rigby, Mayor
EXHIBIT A
First Amended and Restated Service and Assessment Plan
Lakes at Fairmont Greens Public Improvement District
City of La Porte, Harris County, Texas
1. Introduction
This First Amended and Restated Service and Assessment Plan (the "Plan') is prepared
and adopted in conformance with the Public Improvement District Assessment Act, codified as
Chapter 372, Texas Local Government Code (the "Act"), and pursuant to Resolution No. 2007-
02 creating the Lakes at Fairmont Greens Public Improvement District (the "PID" or the
"District"), La Porte (the "City"), Harris County, Texas. The creation of the PID was initiated
by a petition (the "Creation Petition") submitted by property owners within the PID
boundaries in compliance with the requirements of Section 372.005 of the Act. This Plan
supersedes and replaces the Service and Assessment Plan adopted March 10, 2008 by
Ordinance No. 3067 and specifically removes the supplemental services component of the PID.
2. Boundaries
The boundaries of the PID are as indicated in the map attached as Exhibit A.
3. Administration of the District
Administration of the District is the responsibility of the City Council of the City of La
Porte, Texas but to the extent allowed by law, the City may contract with a private sector
company to carry out all or part of the City responsibilities as well as day-to-day operations
and administration of the District.
4. Public Improvements
a. The Public Improvements to be financed and constructed hereby (the "Public
Improvements") serve to promote the construction of single-family units ("SFU"). The Public
Improvements included in the Plan will confer a special benefit to properties within the Public
Improvement District and will consist of the construction of site work, water lines, sanitary
sewer lines, storm sewers, erosion control, contingency provisions, engineering services,
financing costs, and administrative and legal services for the PID. The Public Improvements
will be pre -funded by the developer of the residential subdivision within the PID. Under the
Development Agreement executed between the Developer and the City, the Developer will be
entitled to receive reimbursement of up to 35% of the Public Improvement costs subject to the
limitations contained in the Agreement.
L Lakes at Fairmont Greens
Lakes at Fairmont Greens Subdivision is being developed by 65 La Porte, Ltd. and will
contain an estimated 462 single-family units within the Public Improvement District. The
City of La Porte, Lakes at Fairmont Greens Public Improvement District
Public Improvements authorized under this Plan for Lakes at Fairmont Greens, and the
estimated costs thereof, are described below:
LAKES AT FAIRMONT GREENS
Public Improvement Costs
PUBLIC IMPROVEMENT
ESTIMATED COST
PID COSTS 35%
Site Work
$479,886
$167,960
Water Lines
$452,352
$158,323
Sanitary Sewer
$963,157
$337,105
Storm Sewer
$1,557,746
$545,211
NPDES/ Erosion Control
$274,771
$96,170
Contingency
$559,187
$195,715
Engineering
$643,065
$225,073
PID Creation Costs (100%)
$30,000
$30,000
Subtotal
$4,960,164
$1,755,557
Financing Cost
$1,320,831
Administration & Legal Expenses
$213,841
TOTAL
$3,290,229
5. Construction of Public Improvements
Design and construction of all Public Improvements will be performed to City
specifications, and all construction shall be bid as required by the City. The Plan will be
reviewed annually in accordance with the provisions of Chapter 372 of the Local Government
Code and will include a review of the budgets, expenditures and revenues of the District.
Additionally, the Plan will be reviewed for the purpose of establishing the installments for
assessments based upon the costs for Public Improvements and the financial needs of the
District.
6. Conveyance of Improvements to the City
Upon completion of the improvements, and final inspection and acceptance of the
Public Improvements by the City, the Developers will convey all rights to the improvements to
the City or homeowner's association as applicable, subject to the Developer's rights of
reimbursement described in the Development Agreement executed between the Developer and
the City.
7. Authorized Improvements
The area within the PID that is covered by this Service and Assessment Plan will be
developed as single family residential. This Plan designates the Public Improvements required
for the growth and development of the land within the PID. The goal of this Plan is to provide
City of La Porte, Lakes at Fairmont Greens Public Improvement District 2
sufficient certainty for the owners of land within the PID to proceed with the financing and
construction of the necessary Public Improvements, while allowing for sufficient flexibility to
meet the needs of the PID over the life of the development of residential properties within the
PID.
The construction of the Public Improvements authorized herein began in calendar year
2007. The proposed phasing is estimated and may vary. The cost estimates provided above are
expressed in calendar year 2007 dollars. The actual costs of the Public Improvements will be
determined by an audit of the developer's costs.
8. Advance Financing by Developer
The Developer will advance the funds for construction of the Public Improvements and
will be entitled to repayment pursuant to the Development Agreement executed between the
City and the Developer. Although the Public Improvements are required for the growth and
development of the PID, it is not necessary for them to be built simultaneously.
9. Apportionment of Costs
Payment of assessments, if any, on property owned by exempt jurisdictions other than
the City shall be established by contract.
10. Levy of Assessments
a. Public Improvement Costs
The plan of assessment contemplates that the public improvement cost assessment will
be levied in phases. The assessment year shall be concurrent with the City's tax year. The
assessments against property may be paid in annual installments based on an amortization of
not more than fifteen (15) years plus the period between the effective date of the assessment
ordinance and the date of the first installment. The interest rate on financed capital
assessments is eight percent (8.00%) per annum.
The assessments shall be based upon the actual cost of the Public Improvements plus
those related costs as deemed reimbursable by the City. The cost of the Public Improvements
will consist of the costs to construct site work, storm sewers, water lines, sanitary sewers,
erosion control, related professional design and engineering fees, administrative and legal
services and interest payable to the Developer pursuant to the Development Agreement.
L Lakes at Fairmont Greens
The Plan estimates the following assessments for residential properties in Lakes at
Fairmont Greens according to the cost of the Public Improvements. The total assessment can be
paid upfront at the time the property containing a habitable structure is purchased or at any
time thereafter. The assessment can also be financed and paid in equal annual installments
over fifteen (15) years as prescribed below.
City of La Porte, Lakes at Fairmont Greens Public Improvement District 3
herein.
The following assessment will apply to all lots and is payable in the manner described
Assessment - Public Improvement Costs (Capital Assessment)
Total Assessment
$0.5273 per square foot of residential property
Financed Assessment
$0.0616 per square foot of residential property per year
B. Levy and collection.
Notice of the levy of each assessment will be given as provided in Chapter 372 of the
Local Government Code. The assessment levy statement will be sent to each property owner in
the District, and the installment of the assessment levy will be due and payable at the same
time property taxes are due and payable to the City. Financed Public Improvement Cost
assessments (capital assessments) shall bear interest at eight percent (8.00%) per annum.
The first installment of an assessment against a particular property shall be due with
respect to the calendar year following the date such property has been improved with a
habitable structure as evidenced by the issuance of a certificate of occupancy. The City will
invoice each owner of property for the installment payment in conjunction with the City's
annual property tax bill, and the installments shall be due and payable, and incur penalty and
interest for unpaid installments in the same manner as provided for the City's property taxes.
Thereafter, subsequent installments shall be due in the same manner in each succeeding
calendar year until the assessment together with interest as provided herein has been paid in
full. The owner of assessed property may pay at any time the entire assessment then due on
each property, with interest accrued on the assessment through the date of payment. Failure of
an owner to receive an invoice shall not relieve the owner of the responsibility of for the
assessment.
A lien will be established against the property assessed effective as of the date of the
ordinance levying the assessment, privileged above all other liens, including prior mortgage
liens, to the extent allowed by Section 372.018(b) of the Local Government Code. Assessment
installments shall be considered delinquent on the same date as the City's property taxes.
Delinquent assessments or installments shall incur the costs of collection. If practicable, the
assessment shall be included on the City property tax statement. Notwithstanding the above,
the assessment lien shall be perfected immediately as to the entire assessment, but may be
executed only with respect to the amounts then due or past due for current or prior installments
or final payment. Assessments are personal obligations of the person owning the property
assessed in the year an installment payment becomes due, and only to the extent of such
installment(s).
The owner of assessed property may pay at any time the entire assessment then due on
each property, with interest accrued on the assessment through the date of payment.
City of La Porte, Lakes at Fairmont Greens Public Improvement District 4
EXHIBIT A
rt
EXHIBIT
City of La Porte, Lakes at Fairmont Greens Public Improvement District
0
Tab .t ftkM t deme
September 1, 2010
65 La Porte, Ltd.
340 N. Sam Houston Pkwy. E., Suite 100
Houston, TX 77050
Attn: Mr. Jim Larson
City of La Porte
RE: FIRST AMENDED and RESTATED SERVICE and ASSESSMENT PLAN
Dear Mr. Larson,
Established 1892
Per our meeting of August 18, 2010, the La Porte City Council will consider an ordinance at their September 13`h meeting
approving an Amended Service and Assessment Plan for the Lakes at Fairmont Greens Public Improvement District (PID). The
amended plan will remove the supplemental services and references to the Developers Agreement, but keep in place the Public
Improvements assessment.
If City Council approves this action, the City and 65 La Porte, Ltd. will need to follow up with the proposed repiat and a modified
Developers Agreement (including its exhibits) removing references to maintenance of infrastructure by the (PID) . These follow up
items will need to be completed before issuance of any building permits in Section One and before the Public Hearing and levying of
an assessment against Section One.
We believe this arrangement will benefit both 65 LaPorte, Ltd. and the City by simplifying the Public Improvement District
agreement and placing the maintenance In the hands of the Homeowner's Association. We thank you for your efforts and
cooperation on this matter. Please acknowledge by having Dr. Reddy sign and return this letter.
Sin rel -
ohnloerns
Assistant City anager
cc: Ron Bottoms, City Manager
Tim Tietjens, Planning Director
Acknowledged
Dr. Malladi S. Reddy, M.D. — Principal
65 La Porte, Ltd.
340 N. Sam Houston Pkwy, E.,
Suite 100
Houston, TX 77060
C/CLP Shared Folder/CMO— TIRZ—Amended Service and Assessment Plan for Lakes at Fairmont Green PID
604 W. Fairmont Pkwy. • La Porte, Texas 77571 • (281) 471-5020
ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF LA PORTE, TEXAS,
APPROVING THE FIRST AMENDED AND RESTATED SERVICE AND
ASSESSMENT PLAN FOR THE CITY OF LA PORTE LAKES AT
FAIRMONT GREENS PUBLIC IMPROVEMENT DISTRICT; CONTAINING
A REPEALING CLAUSE; CONTAINING AN OPEN MEETINGS CLAUSE;
PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the City of La Porte (the "City") is authorized pursuant to TExAS LocAL
GOVERNMENT CODE, chapter 372, as amended ("Chapter 372") to create public
improvement districts for the purposes described therein; and
WHEREAS, the City received a petition (the "Petition") requesting the creation of
the City of La Porte Lakes at Fairmont Greens Public Improvement District (the "PID"),
held a public hearing, and created the PID in accordance with the applicable provisions of
Chapter 372; and
WHEREAS, the City passed and adopted Resolution No. 2007-02 on January 22,
2007 establishing the Lakes at Fairmont Green Public Improvement District; and
WHEREAS, the City passed and adopted Ordinance No. 3067 on March 10, 2008
approving the Service and Assessment Plan for the Lakes at Fairmont Green Public
Improvement District; and
WHEREAS, the City Council wishes to adopt an amended and restated Service and
Assessment Plan with respect to the PID; NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, that:
Section 1. The facts recited in the preamble hereto are found to be true and
correct.
Section 2. Ordinance No. 3067 and the Service and Assessment Plan adopted
thereby are hereby repealed in their entirety and that the First Amended and Restated
Service and Assessment Plan attached to this Ordinance as Exhibit A is hereby approved
and adopted on behalf of the PID, and the Mayor, City Secretary and any other appropriate
officials of the City are hereby authorized to take all necessary actions on behalf of the City
to implement the terms thereof in accordance therewith.
1
Section 3. It is hereby found, determined and declared that a sufficient written
notice of the date, hour, place and subject of this meeting of the City Council was posted at
a place convenient to the public at the City Hall of the City for the time required by law
preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas
Government Code, and that this meeting has been open to the public as required by law at
all times during which this Ordinance and the subject matter thereof has been discussed,
considered and formally acted upon. City Council further ratifies, approves and confirms
such written notice and the contents and posting thereof.
Section 4. This Ordinance shall be effective upon its passage and approval.
PASSED AND APPROVED this the day of 2010.
Attest:
Martha Gillett, City Secretary
Approved as to form:
Clark T. Askins, Assistant City Attorney
2
Louis Rigby, Mayor
EXHIBIT A
First Amended and Restated Service and Assessment Plan
Lakes at Fairmont Greens Public Improvement District
City of La Porte, Harris County, Texas
1. Introduction
This First Amended and Restated Service and Assessment Plan (the "Plan') is prepared
and adopted in conformance with the Public Improvement District Assessment Act, codified as
Chapter 372, Texas Local Government Code (the "Act"), and pursuant to Resolution No. 2007-
02 creating the Lakes at Fairmont Greens Public Improvement District (the "PID" or the
"District"), La Porte (the "City"), Harris County, Texas. The creation of the PID was initiated
by a petition (the "Creation Petition') submitted by property owners within the PID
boundaries in compliance with the requirements of Section 372.005 of the Act. This Plan
supersedes and replaces the Service and Assessment Plan adopted March 10, 2008 by
Ordinance No 3067 and specifically removes the supplemental services component of the PID.
2. Boundaries
The boundaries of the PTD are as indicated in the map attached as Exhibit A.
3. Administration of the District
Administration of the District is the responsibility of the City Council of the City of La
Porte, Texas but to the extent allowed by law, the City may contract with a private sector
company to carry out all or part of the City responsibilities as well as day-to-day operations
and administration of the District.
4. Public Improvements and Supplemental Sefv
a. The Public Improvements to be financed and constructed hereby (the "Public
Improvements') serve to promote the construction of single-family units ("SFU"). The Public
Improvements included in the Plan will confer a special benefit to properties within the Public
Improvement District and will consist of the construction of site work, water lines, sanitary
sewer lines, storm sewers, erosion control, contingency provisions, engineering services,
financing costs, and administrative and legal services for the PID. The Public Improvements
will be pre -funded by the developer of the residential subdivision within the PID. Under the
Development Agreement executed between the Developer and the City, the Developer will be
entitled to receive reimbursement of up to 35% of the Public Improvement costs subject to the
limitations contained in the Agreement.
City of La Porte, Lakes at Fairmont Greens Public Improvement District
I. Lakes at Fairmont Greens
Lakes at Fairmont Greens Subdivision is being developed by 65 La Porte, Ltd. and will
contain an estimated 462 single-family units within the Public Improvement District. The
Public Improvements authorized under this Plan for Lakes at Fairmont Greens, and the
estimated costs thereof, are described below:
LAKES AT FAIRMONT GREENS
Public Improvement Costs
PUBLIC IMPROVEMENT
ESTIMATED COST
PID COSTS 35%
Site Work
$479,886
$167,960
Water Lines
$452,352
$158,323
Sanitary Sewer
$963,157
$337,105
Storm Sewer
$1,557,746
$545,211
NPDES/Erosion Control
$274,771
$96,170
Contingency
$559,187
$195,715
Engineering
$643,065
$225,073
PID Creation Costs (100%)
$30,000
$30,000
Subtotal
$4,960,164
$1,755,557
Financing Cost
$1,320,831
Administration & Legal Expenses
$213,841
TOTAL
$3,290,229
5. Construction of Public Improvements
Design and construction of all Public Improvements will be performed to City
specifications, and all construction shall be bid as required by the City. The Plan will be
reviewed annually in accordance with the provisions of Chapter 372 of the Local Government
Code and will include a review of the budgets, expenditures and revenues of the District.
Additionally, the Plan will be reviewed for the purpose of establishing the installments for
assessments based upon the costs for Public Improvements and the financial needs of the
District.
6. Conveyance of Improvements to the City
Upon completion of the improvements, and final inspection and acceptance of the
Public Improvements by the City, the Developers will convey all rights to the improvements to
the City or homeowner's association as applicable, subject to the Developer's rights of
reimbursement described in the Development Agreement executed between the Developer and
the City.
City of La Porte, Lakes at Fairmont Greens Public Improvement District 2
7. Authorized Improvements
The area within the PID that is covered by this Service and Assessment Plan will be
developed as single family residential. This Plan designates the Public Improvements required
for the growth and development of the land within the PID. The goal of this Plan is to provide
sufficient certainty for the owners of land within the PID to proceed with the financing and
construction of the necessary Public Improvements, while allowing for sufficient flexibility to
meet the needs of the PID over the life of the development of residential properties within the
PID.
The construction of the Public Improvements authorized herein wiu be began in
calendar year 2007. The proposed phasing is estimated and may vary. The cost estimates
provided above are expressed in calendar year 2007 dollars. The actual costs of the Public
Improvements will be determined by an audit of the developer's costs.
8.9: Advance Financing by Developer
The Developer will advance the funds for construction of the Public Improvements and
will be entitled to repayment pursuant to the Development Agreement executed between the
City and the Developer. Although the Public Improvements are required for the growth and
development of the PID, it is not necessary for them to be built simultaneously.
9.1-0: Apportionment of Costs
Payment of assessments, if any, on property owned by exempt jurisdictions other than
the City shall be established by contract.
10.14 Levy of Assessments
a. Public Improvement Costs
The plan of assessment contemplates that the public improvement cost assessment will
be levied in phases. The assessment year shall be concurrent with the City's tax year. The
assessments against property may be paid in annual installments based on an amortization of
not more than fifteen (15) years plus the period between the effective date of the assessment
ordinance and the date of the first installment. The interest rate on financed capital
assessments is eight percent (8.00%) per annum.
The assessments shall be based upon the actual cost of the Public Improvements plus
those related costs as deemed reimbursable by the City. The cost of the Public Improvements
will consist of the costs to construct site work, storm sewers, water lines, sanitary sewers,
erosion control, related professional design and engineering fees, administrative and legal
services and interest payable to the Developer pursuant to the Development Agreement.
City of La Porte, Lakes at Fairmont Greens Public Improvement District
L Lakes at Fairmont Greens
The Plan estimates the following assessments for residential properties in Lakes at
Fairmont Greens according to the cost of the Public Improvements. The total assessment can be
paid upfront at the time the property containing a habitable structure is purchased or at any
time thereafter. The assessment can also be financed and paid in equal annual installments
over fifteen (15) years as prescribed below.
herein.
The following assessment will apply to all lots and is payable in the mariner described
Assessment - Public Improvement Costs (Capital Assessment)
Total Assessment $0.5273 per square foot of residential property
Financed Assessment $0.0616 per square foot of residential property per year
B. Levy and collection.
Notice of the levy of each assessment will be given as provided in Chapter 372 of the
Local Government Code. The assessment levy statement will be sent to each property owner in
the District, and the installment of the assessment levy will be due and payable at the same
time property taxes are due and payable to the City. Financed Public Improvement Cost
assessments (capital assessments) shall bear interest at eight percent (8.00%) per annum.
The first installment of an assessment against a particular property shall be due with
respect to the calendar year following the date such property has been improved with a
habitable structure as evidenced by the issuance of a certificate of occupancy. The City will
invoice each owner of property for the installment payment in conjunction with the City's
annual property tax bill, and the installments shall be due and payable, and incur penalty and
interest for unpaid installments in the same manner as provided for the City's property taxes.
Thereafter, subsequent installments shall be due in the same manner in each succeeding
calendar year until the assessment together with interest as provided herein has been paid in
full. The owner of assessed property may pay at any time the entire assessment then due on
each property, with interest accrued on the assessment through the date of payment. Failure of
City of La Porte, Lakes at Fairmont Greens Public Improvement District 4
an owner to receive an invoice shall not relieve the owner of the responsibility of for the
assessment.
A lien will be established against the property assessed effective as of the date of the
ordinance levying the assessment, privileged above all other liens, including prior mortgage
liens, to the extent allowed by Section 372.018(b) of the Local Government Code. Assessment
installments shall be considered delinquent on the same date as the City's property taxes.
Delinquent assessments or installments shall incur the costs of collection. If practicable, the
assessment shall be included on the City property tax statement. Notwithstanding the above,
the assessment lien shall be perfected immediately as to the entire assessment, but may be
executed only with respect to the amounts then due or past due for current or prior installments
or final payment. Assessments are personal obligations of the person owning the property
assessed in the year an installment payment becomes due, and only to the extent of such
installment(s).
The owner of assessed property may pay at any time the entire assessment then due on
each property, with interest accrued on the assessment through the date of payment.
City of La Porte, Lakes at Fairmont Greens Public Improvement District
EXHIBIT A
Aft
EXHIBIT
City of La Porte, Lakes at Fairmont Greens Public Improvement District
O
L& .t