HomeMy WebLinkAboutRES 052416-H - Tax Rate SEWCMUDRESOLUTION NO. OSa` 6—
A RESOLUTION OF THE CITY OF GEORGETOWN, TEXAS APPROVING
THE THIRD AMENDMENT TO THE CONSENT AGREEMENT
AUTHORIZING THE CREATION OF THE SOUTHEAST WILLIAMSON
COUNTY MUNICIPAL DISTRICT NO. 1; AND ESTABLISHING AN
EFFECTIVE DATE
WHEREAS, the City, Woodhull Family, Sentinel Land, and the District entered into that
certain Consent Agreement approved by the City Council of the City on October 21, 2014,
recorded in the Official Records of Williamson County as Document No. 2015002545, and joined
by the District on August 20, 2015 (the "Ot:Wnal Consent Agreement"), setting forth the terms and
conditions of the City s consent to creation of the District and addressing the development of a
301.507 acre tract of land located in the city limits; and
WHEREAS, on December 8, 2015, the City Council approved Resolution No. 1208154
consenting to the assignment of the Original Consent Agreement from Sentinel Land to
Woodhull Ventures 2015, L.P., a Delaware limited partnership, and the annexation into the
District of approximately 0.131 acres (+/-) of additional land which was inadvertently omitted
from the District boundaries in the Original Consent Agreement; and approving the First
Amended Consent Agreement (the "First Amendment"); and
WHEREAS, on March 22, 2016 the City Council approved Resolution No. 032216-Q
approving the annexation into the District of approximately 207.147 (+/-) acres of additional
land into the District; and approving the Second Amended Consent Agreement (the "Second
Amendment"); and
WHEREAS, the Original Consent Agreement as amended by the First Amendment and
Second Amendment are in full force and effect; and
WHEREAS, the District has requested amendment of the Original Consent Agreement,
as amended by the First Amendment and the Second Amendment, to clarify that the tax rate
limitation for the District of $0.54 per $100 of assessed valuation exceeds the current City's tax
rate of $0.434 per $100 of assessed valuation, and may continue to exceed the City's tax rate in
the future if the City's tax rate remains below $0.54 per $100 of assessed valuation; and
WHEREAS, by this Resolution, the City Council wishes to provide its written consent
approving the Third Amended Consent Agreement.
Resolution No. O S;Alu- i , Page 1 of 4
Consent to Tax Rate f r SEVVCMTJD No.1, the Third Amended Consent
Date Approved. S 0
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS:
Section 1: The foregoing recitals are hereby found to be true and correct and are adopted as
part of this Resolution for all purposes.
Section 2: The City Council hereby approves and authorizes the Mayor to sign and the City
Secretary to attest the "Third Amended Consent Agreement" attached hereto as Exhibit A and
incorporated herein by reference for all purposes.
Section 3: This Resolution shall become effective immediately upon its adoption.
PASSED AND APPROVED on the M day of MN�-r 2016.
CITY OF GEORGETOWN, TEXAS
By:��
Dale Ross, Mayor
ATTEST:
By: J D i
Shelley Nowl'g ity Secretary
APPROVED AS TO FORM:
Charlie McNabb, City Attorney
Attachments:
Exhibit A: Third Amended Consent Agreement
Resolution No. OS,6 a l tO " i 5 Page 2 of 4
Consent to Tax Rater SE CMUD No.1, the Third Amended Consent
Date Approved: $ O
CERTIFICATE FOR RESOLUTION
CITY OF GEORGETOWN, TEXAS
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
I, the undersigned officer of the City of Georgetown, Texas, hereby certify as follows:
1. The City Council of the City of Georgetown, Texas convened in regular session on the —day
of
2016. All of the following City Council members were present:
Dale Ross
Mayor
Anna Eby
COUncihmember District I
Keith Brainard
Councilmember District 2
John Hesser
Councilmember District 3
Steve Fought
Councilmember District 4
Ty Gipson Councilmember District 5
Rachael Jon rowe Councilmember District 6
Tommy Gonzalez Councilmember District 7
except 'thus constituting a quorum. Whereupon, among other
business, the following was transacted at the meeting: A written
A RESOLUTION OF THE CITY OF GEORGETOWN, TEXAS APPROVING
THE THIRD AMENDMENT TO THE CONSENT AGREEMENT
AUTHORIZING THE CREATION OF THE SOUTHEAST WILLIAMSON
COUNTY MUNICIPAL DISTRICT NO. 1; AND ESTABLISHING AN
EFFECTIVE DATE
was introduced for consideration by the City Council. It was then duly moved and seconded
that the Resolution be adopted and the motion, carrying with it the adoption of the
Resolution, prevailed and carried unanimously.
2. A true, full, and correct copy of the aforesaid Resolution adopted at the meeting described in
the above and foregoing paragraph is attached to and follows this certificate; the action
approving the Resolution has been duly recorded in the City Council's minutes of the
meeting; the persons named in the above and foregoing paragraph are the duly chosen,
qualified, and acting members of the City Council of the City of Georgetown as indicated
therein; the meeting was open to the public as required by law; and public notice of the time,
place, and subject of each meeting was given as required by Chapter 551, Texas Government
Code.
SIGNED AND SEALED on the day of '1 ` , R t 2016.
0
Shelley Nowlin g.,Gi Secretary
Exhibit A to Resolution:
Third Amended Consent Agreement
THIRD AMENDED
CONSENT AGREEMENT
THE STATE OF TEXAS §
§
COUNTY OF WILLIAMSON §
This Third Amended Consent Agreement ( "Third Amendment") is entered into by
and among the City of Georgetown, Texas ("Cih " , a home -rule city located in
Williamson County, Texas, Woodhull Family Partners, a Texas general partnership
("Woodhull Famihi"), Kasper Family Limited Partnership, a Texas Limited Partnership
("Kasper"), Woodhull Ventures 2015, L.P., a Delaware limited partnership ("Woodhull
Ventures" or the "Deoeloper"), Sentinel Land Company, LLC, a Texas limited liability
company ("Sentinel Land") and the Southeast Williamson County Municipal Utility
District No. 1, a district created under Chapters 49 and 54 of the Texas Water Code (the
"District' .
RECITALS
WHEREAS, the City, Woodhull Family, Sentinel Land, and the District entered
into that certain Consent Agreement approved by the City Council of the City on October
21, 2014, recorded in the Official Records of Williamson County as Document No.
2015002545, and joined by the District on August 20, 2015 (the "Original Consent
Agreement'), setting forth the terms and conditions of the City's consent to creation of the
District and addressing the development of a 301.507 acre tract of land located in the city
limits; and
WHEREAS, on December 8, 2015, the City Council approved Resolution No.
120815-I consenting to the assignment of the Original Consent Agreement from Sentinel
Land to Woodhull Ventures 2015, L.P., a Delaware limited partnership, and the
annexation into the District of approximately 0.131 acres (+/-) of additional land which
was inadvertently omitted from the District boundaries in the Original Consent
Agreement; and approving the First Amended Consent Agreement (the "First
Amendment'); and
WHEREAS, on March 22, 2016 the City Council approved Resolution No. 032216-
Q approving the annexation into the District of approximately 207.147 (+/-) acres of
additional land into the District; and approving the Second Amended Consent
Agreement (the "Second Amendment"); and
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Page 1 of 12
WHEREAS, the Original Consent Agreement, as amended by the First
Amendment and Second Amendment, are in full force and effect; and
WHEREAS, the District has requested amendment of the Original Consent
Agreement, as amended by the First Amendment and the Second Amendment, to clarify
that the tax rate limitation for the District of $0.54 per $100 of assessed valuation exceeds
the current City's tax rate of $0.434 per $100 of assessed valuation, and may continue to
exceed the City's tax rate in the future if the City's tax rate remains below $0.54 per $100
of assessed valuation; and
WHEREAS, the clarification to the tax rate limit in this Third Amendment
provides benefits to the Parties and the Parties now desire to amend the Original Consent
Agreement, as amended by the First Amendment and Second Amendment.
NOW, THEREFORE, in consideration of the forgoing recitals and mutual
agreements set forth herein, and other good and valuable consideration, the receipt,
adequacy and sufficiency of which are all hereby acknowledged, the City, Woodhull
Family, Kasper, Woodhull Ventures, Sentinel Land and the District hereby agree to
amend the Original Consent Agreement, as amended by the First Amendment and
Second Amendment, as follows:
1. Section 10.01 of the Consent Agreement, as amended by the First Amendment and
the Second Amendment, relating to "Tax Rate Limitation" is hereby deleted in its entirety
and replaced with the following:
10.01 Tax Rate Limitation. Before the issuance of Bonds, the District
must provide to the City a final TCEQ order approving the Bond issue (and
the accompanying staff memorandum) that contains a finding, made in
accordance with the TCEQ's then -existing rules, that it is feasible to sell the
Bonds and maintain a projected District debt service tax rate that is not
more than $0.54 per $100 in assessed valuation on an annual basis, which
the District agrees is sufficient to pay debt' service on the Bonds in
accordance with the terms of each resolution or order approving the
issuance of its Bonds in each year while such Bonds are outstanding (the
"Tax Rate Limit"). The District agrees to adopt its annual tax rate in
compliance with the legal requirements applicable to municipal utility
districts and this Agreement, to report the tax rate set by the District each
year to the District's tax assessor/collector, and to perform all acts required
by law for its tax rate to be effective. The District shall maintain all debt
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service tax revenues in a separate account or accounts from the District's
general operating funds. The District shall also require that its bookkeeper
provide an accounting allocation of the debt service fund among the
various categories of bonded facilities in order to simplify the City's
internal allocation of the debt service fund. The Woodhull Family, Kasper,
Woodhull Ventures, Sentinel Land, and the District acknowledge and agree
that the Tax Rate Limit is sufficient to accomplish the purposes of this
Agreement, the Wastewater Services Agreement, and the Kasper
Wastewater Services Agreement, and that they have voluntarily agreed
(and the District upon creation will voluntarily agree) to the Tax Rate Limit.
Notwithstanding the foregoing or anything else in this Agreement to the
contrary, however, the District and the City understand that the District's
power to levy taxes to pay the principal of and interest on Bonds up to the
Bond Limit will be unlimited as to rate and amount as necessary to make
Bond payments.
2. Consultant Fees. As additional consideration for this Third Amendment,
pursuant to Section 13.10.050(AC) of the UDC, Sentinel Land shall pay City's outside
consultant and legal fees and expenses associated with the negotiation and preparation
of this Third Amendment, which amounts shall be paid in full to the City on or before
the Effective Date.
3. Miscellaneous.
A. Except as specifically otherwise amended by this Third Amendment,
all provisions of the Original Consent Agreement, as amended by the First Amendment
and Second Amendment, shall continue to be in full force and effect.
B. Unless defined differently herein or the context clearly requires
otherwise, each capitalized term used in this Third Amendment shall have the meaning
ascribed to such term in the Original Consent Agreement, the First Amendment or
Second Amendment(as applicable).
C. This Third Amendment may be executed in several counterparts,
each of which shall be deemed an original. The signatures to this Third Amendment may
be executed on separate pages, and when attached to this Third Amendment shall
constitute one (1) complete document.
D. The parties agree that the Third Amendment shall be recorded in the
Official Public Records of Williamson County, Texas at the expense of the Developer.
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E. The effective date of this Third Amendment shall be latest date
accompanying the signature lines below (the "ThirdAmendment Effective Date").
F. Each Party certifies, represents, and warrants that the execution of
this Third Amendment is duly authorized and adopted in conformity with all
requirements applicable to such Party.
[The remainder of this page is intentionally left blank. Signatures and acknowledgements
follow.]
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CITY: CITY OF GEORGETOWN, TEXAS
By: (2L�BiliJ�
Dale Ross, Mayor
ATTEST:
By:
Shelley Nowlin 6'y Secretary
APPROVED AS TO FORM:
e
Bye
Charlie McNabb, City Attorney
STATE OF TEXAS
COUNTY OF WILLIAMSON
This instrument was acknowledged before me on the Q� day of
M NI f , 2016, by Dale Ross, Mayor of the City of Georgetown, Texas, a home -
rule city, on behalf of the City.
(seal)
C
,j; UNDARUTHWHITE
My Notary ID $124938123
'x Wims May 24,202D
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ofaz3' Public
i ature
OWNER:
STATE OF TEXAS
COUNTY OF
WOODHULL FAMILY PARTNERS
a Texas general partnership
0
Daniel Y. Kruger
This instrument was acknowledged before me the _ day of
2016, by Daniel Y. Kruger of Woodhull Family Partners, a Texas
general partnership, on behalf of Woodhull Family Partners.
(seal)
Notary Public Signature
1WO695764.2t
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Page 6 of 12
a
STATE OF TEXAS
COUNTY OF
Hollie Woodhull Alexander
This instrument was acknowledged before me on the day of
2016, by Hollie Woodhull Alexander of Woodhull Family Partners,
a Texas general partnership, on behalf of said general partnership.
(seal)
Notary Public Signature
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0
STATE OF COLORADO
COUNTY OF
Margaret Woodhull
This instrument was acknowledged before me on the _ day of
, 2016, by Margaret Woodhull of Woodhull Family Partners, a Texas
general partnership, on behalf of said general partnership.
(seal)
Notary Public Signature
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SENTINEL LAND: SENTINEL LAND COMPANY, LLC, a Delaware
limited partnership
By:
Name:
Date:
THE STATE OF TEXAS §
COUNTY OF TRAVIS §
This instrument was acknowledged before me on this _ day of
2016, by of Sentinel
Land Company, LLC, a Texas limited liability company, on behalf of said limited liability
company.
(seal)
Notary Public Signature
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DEVELOPER: WOODHULL VENTURES 2015, L.P., a Delaware
limited partnership
THE STATE OF
COUNTY OF
By; Sentinel Woodhull GP, LLC, a Texas limited
liability company, its General Partner
Q
David Nairne, Vice President
This instrument was acknowledged before me on this _ day of
2016, by David Naime, Vice President of Sentinel Woodhull GP,
LLC, a Texas limited liability company, on behalf of said limited liability company in its
capacity as General Partner of Woodhull Ventures 2015, L.P., a Delaware limited
partnership.
(seal)
Notary Public Signature
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KASPER:
THE STATE OF TEXAS
COUNTY OF
KASPER FAMILY LIMITED PARTNERSHIP
a Texas limited partnership
By: Kasper Family Management, LLC, a
Texas limited liability company, its
general partner
By:
Kristofer A. Kasper, Managing Member
This instrument was acknowledged before me on this _ day of
, 2016, by Kristofer A. Kasper, Managing Member of Kasper Family
Management, LLC, a Texas limited liability company, in its capacity as General Partner
of Kasper Family Limited Partnership, a Texas limited partnership.
(seal)
Notary Public Signature
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DISTRICT:
ATTEST:
0
Patrick Oliver, Secretary
Board of Directors
THE STATE OF TEXAS
COUNTY OF
R1
SOUTHEAST WILLIAMSON COUNTY
MUNICIPAL UTILITY DISTRICT NO.1
a
Chris Zigrossi, President
Board of Directors
This instrument was acknowledged before me on this _ day of
2016, by Chris Zigrossi, President of Southeast Williamson County
Municipal Utility District No. 1, a political subdivision of the State of Texas, on behalf of
the District.
(seal)
Notary Public Signature
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