Posting Language
Title
Approve a resolution authorizing the issuance by Pilot Knob Municipal Utility District No. 3 of Unlimited Tax Bonds, Series 2023, in a principal amount not to exceed $7,500,000.
De
Lead Department
Financial Services Department.
Fiscal Note
This item has no fiscal impact.
For More Information:
Belinda Weaver, City Treasurer, 512-974-7885; Virginia Collier, Program Manager III, 512-972-0117; Joi Harden, Division Manager, 512-974-1617
Council Committee, Boards and Commission Action:
November 8, 2023 - Recommended by the Water and Wastewater Commission on an 8 - 0 vote, with two absences, and one vacancy.
Additional Backup Information:
Pilot Knob Municipal Utility District No. 3, a political subdivision of the State of Texas, was created under the laws of the State of Texas by House Bill No. 1758, Acts of the 82nd Texas Legislature, Regular Session (2011), codified as Chapter 8377, Texas Special District Local Laws Code, and operates under Chapters 49 and 54 of the Texas Water Code. The Enabling Legislation became effective May 25, 2011, and created the District, subject to the consent of the City.
The City consented to the creation of the District by Council action taken March 22, 2012 (known as the Consent Ordinance) and under the terms of the April 13, 2012 Consent Agreement among the City, the District, and the developer Carma Easton LLC. The City and the District entered into a Strategic Partnership Agreement (SPA) dated as of June 4, 2012, as authorized by Section 43.0751, Texas Local Government Code. The SPA sets forth the terms and conditions of the City's annexation of the land within the District and frames the terms by which the District will continue to exist as a limited district, Pilot Knob Limited District No. 3, following the City's full-purpose annexation of the land within the District as provided in Consent Agreement and the SPA. The District, which currently contains 677.567 acres of land, is within the extraterritor...
Click here for full text