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HomeMy WebLinkAboutRES 092402-T - Village PID Tax AssessmentRESOLUTION NO. 0 24 D " A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, APPROVING THE 2002/03 BUDGET AND RELATED PROPERTY TAX ASSESSMENT FOR THE GEORGETOWN VILLAGE PUBLIC IMPROVEMENT DISTRICT #l; WHEREAS, the City is required by State Law to approve the proposed project and related property tax assessment for the Georgetown Village Public Improvement District #1 (PID); and WHEREAS, the proper notice of the property tax assessment was published in the Williamson County Sure, on August 11, 2002; and WHEREAS, the assessment supports the service plan for the PID as previously established. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, THAT: SECTION 1. The facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct, and are incorporated by reference herein and expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this ordinance implements the following policy of the Century Plan - Policy Plan Element: 1. Finance Policy End 14.0, which states: "All municipal operations are conducted in an efficient business -like manner and sufficient financial resources for both current and future needs are provided ", and further finds that the adoption of this resolution is not inconsistent or in conflict with any other Century Plan Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan. SECTION 2. The City Council of the City of Georgetown hereby approves the proposed budget and property tax assessment for the Georgetown Village Public Improvement District #1 to be adopted and levied as required by State Law. RESOLVED this 24th day of September, 2002. Patricia Carls, Brown and Carls LLP City Attorney Village PID Resolution No. �0 P:\AGENDA\2002\BUDGETNVILLAGERESOLUTION.DOC Page 1 of 1 THE CITY OF GEORGETOWN: I By: Gary Nelon Mayor GEORGETOWN VILLIAGE PUBLIC IMPROVEMENT DISTRICT #1 2002103 BUDGET Beginning Fund Balance 2002/03 Budget 3,532 REVENUES: (1) Property Tax 75,000 Contribution from Developer 10,525 Interest 500 Total Revenues 86,025 EXPENDITURES: Contracted Landscape Maintenance 45,000 Additional Landscaping 7,725 Irrigation 26,000 Miscellaneous Repairs 1,600 Administrative Costs 5,700 Total Expenses 86,025 Ending Fund Balance (1) Assessed at $0.20 per $100 valuation i e �,cju*-k 6,r\ C)CA ZLI o-� - 3,532 Georgetown Village Public Improvement District 91 371 Village Commons Blvd. Georgetown, Texas 78628 August 21, 2002 City of Georgetown Finance Director P.O. Box 409 Georgetown, Texas 78627 Re: 2003 Public Improvement District Assessment Rate Dear Ms Rundell; The Georgetown Village Public Improvement District Board, in public meeting on August 20, 2002, voted unanimously to recommend an Assessment Rate of $0.20 per $100.00 assessed valuation for Fiscal Year 2003. It is requested that you present this to the City council for approval. Sincerely yours, William C. Knodle President, GVPID41 Landscapin-q Contracted Mowing and Trimming Three (3) fertilizer applications Inspect Irrigation monthly Subtotal As Needed Irrigation Maintenance Plant replacement. Subtotal Total Other Items Bench Replacement. Sign Maintenance - 25 hrstyear @$20/hr Sign Replacement - one park markertyear Lighting maintenance - 25 hrstyr @ $20 /hr Light replacement Gazebo Maintenance Total Utilities Irrigation Water/Electric Total Administrative City cost to administer annual fee assessment and collection. Legal. (Attending board meeting, minutes, by-laws). Office Supplies City & County Taxes/Fees Total TOTAL ESTIMATED ANNUAL COSTS NOTES 63,517 1 #1 4,725 #2 3,000 #-3 7,725 71.242 1 27,000 1 #5 1 3,193 #4 2,163 #4 258 #4 515 #4 6.129 #1 Tru Green contract & estimate for Section 5 plus 5% contingency for re -bid in February. #2 As of 7/11/02, $4,536 spent on irrigation maintenance for 2002 & added 5%. #3 Increase of $300 from last year for new plantings. #4 Bill Knodle suggested 3% inflation increase. #5 Review of 2002 to date irrigation bills and projected useage for adcrl park. CD q .2- 1-1 a-Z