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0510 • G ORDINANCE NO. no AN ORDINANCE RELATING TO THE REGULATI N OF HE USE AND DEVELOPMENT OF LAND IN THE INCORP RATED LIMITS OF SOUTHLAKE, TEXAS; IMPOSING AN IMPA T F E ON LAND DEVELOPMENT IN SOUTHLAKE FOR PROVIDIN WAT R AND SEWER FACILITIES NECESSITATED BY SUCH NEW DE ELOPM NT; STATING THE AUTHORITY FOR ADOPTION OF THE ORD NANC ; PROVIDING DEFINITIONS; PROVIDING FINDINGS AND D CLARA IONS OF THE CITY COUNCIL; PROVIDING FOR THE ASSESSMENT, PAYMENT AND TIME OF PAYMENT OF A WATER AND SEWER FACIL TIES IMPACT FEE; PROVIDING FOR REVIEW OF WATER AND SEWE FACILITIES IMPACT FEES AND THE FEE SCHEDULES; PROVID NG FOR THE PLACEMENT OF REVENUE COLLECTED FROM WATE ' AND SEWER FACILITIES IMPACT FEES INTO WATER AND SEWE ' FACILITIES IMPACT FEE ACCOUNTS ESTABLISHED FOR T. T PURPOSE; PROVIDING FOR EXEMPTIONS; PROVIDING FOR REFUND OF UNEXPENDED FUNDS; PROVIDING FOR USE OF FUNDS liERIVED FROM WATER AND SEWER FACILITIES IMPACT FEES; PR•VIDING THAT WATER AND SEWER FACILITIES IMPACT FEES MA . BE PLEDGED TOWARD PAYMENT OF BOND ISSUES AND S MILAR DEBT INSTRUMENTS; PROVIDING A SAVINGS CLAUSE; P 'OVIDING FOR PUBLICATION IN PAMPHLET FORM; AND PROVIDING EFFECTIVE DATE. WHEREAS, the City of Southlake is resp•nsible for and committed to the provision of public facilitie and services at levels necessary to cure any existing public se ice deficiencies in already developed areas; and 1 WHEREAS, such facilities and service levels shall be provided by the City utilizing funds allocated in the c.pital budget and capital improvements programming processes and relying upon the funding sources indicated therein; and i WHEREAS, new residential and nonresidential •evelopment causes and imposes increased and excessive demands pon City public 1 facilities and services, including water and sewe , facilities, that Iwould not otherwise occur; and i 1 1 stake\impactfee.ord -1- 1 i 1 WHEREAS, planning and zoning projections indicate that such development will continue and will place ever-increasing demands on the City to provide necessary public facilities; and WHEREAS, the development potential and property values of properties is strongly influenced and encouraged by City policy as expressed in the Comprehensive Plan and as implemented via the City zoning ordinance and map; and WHEREAS, to the extent that such new development places demands upon the public facility infrastructure, those demands should be satisfied by shifting the responsibility for financing the provision of such facilities from the public at large to the developments actually creating the demands for them; and WHEREAS, the amount of the capital recovery fee to be imposed shall be determined by the cost of the additional public facilities needed to support such development, which public facilities shall be identified in a capital improvements program, and WHEREAS, the City Council, after careful consideration of the matter, hereby finds and declares that capital recovery fees imposed upon residential and nonresidential development to finance specified major public facilities in designated service areas, the demand for which is created by such development, is in the best interests of the general welfare of the City and its residents, is equitable, and does not impose an unfair burden on such development; WHEREAS, in 1987 the Texas Legislature adopted Senate Bill 336, now codified as Chapter 395 of the Local Government Code, slake\impact fee.ord -2- providing guidelines and requirements recovery fees; WHEREAS, has complied with said statute in promulgation and methodology necessary Fees; for the adoption of capital and the City Council finds that in all things the City the notice, adoption, to adopt Capital Recovery NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS: SECTION 1 SHORT TITLE This Ordinance shall be known and cited Wastewater Capital Recovery Fees Ordinance. as the Water and SECTION 2 INTENT This Ordinance is intended to impose water and wastewater capital recovery fees, as established in this Ordinance, in order to finance public facilities, the demand for which is generated by new development in the designated service area. SECTION 3 AUTHORITY The City is authorized to enact this Ordinance by Chapter 395 of the Texas Local Government Code, (Senate Bill 336 enacted by the 70th Texas Legislature) and its successors, which authorize home- rule cities, among others, to enact or impose impact fees (capital recovery fees) on land within their corporate boundaries or extraterritorial jurisdictions, and to persons with whom they have a water or sewer service contract, as charges or assessments imposed against new development in order to generate revenue for slake\impact fee.ord funding or recouping the costs of capital improvements or facility expansions necessitated by and attributable to such new development; and by the Southlake City Charter. The provisions of this Ordinance shall not be construed to limit the power of the City to adopt such Ordinance pursuant to any other source of local authority, nor to utilize any other methods or powers otherwise available for accomplishing the purposes set forth herein, either in substitution of or in conjunction with this Ordinance. Guidelines may be developed by resolution or otherwise to implement and administer this chapter. SECTION 4 DEFINITIONS As applied in this Ordinance, the following words and terms shall be used: (i) Assessment - The determination of the amount of the maximum capital recovery fee per service unit which can be imposed on new development pursuant to this Ordinance. (2) Buildinq Permit - Written permission issued by the City for the construction, repair, alteration or addition to a structure. (3) Capital Construction Cost of Service - Costs of constructing capital improvements or facility expansions, including and limited to the construction contract price, surveying and engineering fees, land acquisition costs (including land purchases, court awards and costs, attorney's fees, and expert witness fees), and the fees actually paid or contracted to be paid to an independent qualified engineer or financial consultant preparing or updating the capital improvements plan who is not an employee of the City. Capital Improvements Advisory Committee (Advisory Committee) - Advisory committee, appointed by the City Council, consisting of at least five members, not less than 40 percent of which shall be representatives of the real estate, development, or building industries which are not employees of the city, and, if capital recovery fees are to be applied within the extraterritorial slake\impact fee.ord -4- (5) (6) (7) (8) (9) (10) (ll) (12) jurisdiction of the City, including one member representing the extraterritorial jurisdiction; or consisting of the Planning and Zoning Commission, including one regular or ad hoc member who is not an employee of the city and which is representative of the real estate, development, or building industry, and, if capital recovery fees are to be applied within the extraterritorial jurisdiction of the City, one representative of the extraterritorial jurisdiction area; which committee is appointed to regularly review and update the capital improvements program in accordance with the requirements of Chapter 395 of the Local Government Code, and it successors. Capital Improvements Proqram (CIP) - Plan which identifies water and wastewater capital improvements or facility expansions pursuant to which capital recovery fees may be assessed. Capital Recovery Fee Fee to be imposed upon new development, calculated based upon the costs of facilities in proportion to development creating the need for such facilities. Capital recovery fees do not include dedication of rights-of-way or easements, or construction or dedication of site-related water distribution or wastewater collection facilities required by other ordinances of the City Code; or lot or acreage fees placed in trust funds for the purpose of reimbursing developers for oversizing or constructing water or sewer mains or lines. City - City of Southlake. City Council (Council) - Governing body of the City of Southlake. City Public Works Director (Director) - Public Works Director of the City of Southlake. Commercial Development For Ordinance, all development which nor industrial. the purposes of this is neither residential Comprehensive Plan (Master Plan) The comprehensive long-range plan, adopted by the City Council, which is intended to guide the growth and development of the City which includes analysis, reco~u~endations and proposals for the City regarding such topics as population, economy, housing, transportation, community facilities and land use. Credit The amount of the reduction of a capital recovery fee for fees, payments or charges for the same slake\impact fee.ord -5- (13) (14) (15) (16) type of capital improvements for which the fee has been assessed. Existing Development - All development within the service area which has a water or wastewater tap on the City's water or sewer system as of the date of the adoption of this Ordinance. Facility Expansion - The expansion of the capacity of an existing facility which serves the same function as an otherwise necessary new capital improvement in order that the existing facility may serve new development. Facility expansion does not include the repair, maintenance, modernization, or expansion of an existing facility to better serve existing development. Final subdivision Plat - The map, drawing or chart meeting the requirements of the City's Subdivision Ordinance on which is provided a subdivider's plan of a subdivision, and which has received final approval by the Planning and Zoning Commission or City Council and which is recorded with the office of the County Clerk. Growth-Related Costs - Capital construction costs of service related to providing additional service units to new development, either from excess capacity in existing facilities, from facility expansions or from new capital facilities. Growth-related costs do not include: (a) Construction, acquisition, or expansion of public facilities or assets other than capital improvements or facility expansions identified in the capital improvements plan; (b) (c) Repair, operation, or maintenance of existing or new capital improvements or facility expansions; Upgrading, updating, expanding, or replacing existing capital improvements to serve existing development in order to meet stricter safety, efficiency, environmental, or regulatory standards; (d) Upgrading, updating, expanding, or replacing existing capital improvements to provide better service to existing development; (e) Administrative and operating costs of the City; and (f) Principal payments and interest or other finance charges on bonds or other indebtedness, except for such payments for growth-related facilities contained in the capital improvements program. s lake\impact fee.ord -6- (17) (18) (19) (20) Industrial Development - Development which will be assigned to the industrial customer class of the water or wastewater utilities; generally development in which goods are manufactured, or development which is ancillary to such manufacturing activity. Land Use Assumptions - Description of the service area and projections of changes in land uses, densities, intensities, and population therein over at least a 10- year period, adopted by the City, as may be amended from time to time, upon which the capital improvement plan is based. Livinq Unit Equivalent (LUE) - Basis for establishing equivalency among and within various customer classes based upon the relationship of the continuous daily maximum flow rate in gallons per minute for a water meter of a given size and type compared to the continuous daily maximum flow rate in gallons per minute for a 1" diameter simple water meter, using American Water Works Association C700-C703 standards. LUE's for water meters are as follows: METER SIZE TYPE LUE's 1-1/2" 10" 10" 12" Simple Simple Simple Simple Simple Compound Turbine Compound Turbine Compound Turbine Compound Turbine Compound Turbine Compound Turbine Turbine 0.4 0.6 1.0 2.0 3.2 3.2 4.0 6.4 9.6 10.0 16.8 20.0 36.8 32.0 64.0 46.0 100.0 132.0 New Development Subdivision of land; or the construction, reconstruction, redevelopment, conversion, structural alteration, relocation, or enlargement of any structure; or any use or extension of the use of land; any of which increases the number of service units for water or wastewater service and purchase of a new water or wastewater tap. New development includes the sale of water taps resulting from the conversion of an individual well to the city's water utility and includes the sale slake\impact fee.ord -7- (21) (22) (23) (24) (25) (26) (27) (28) of wastewater taps resulting from the conversion of an individual septic or other individual waste disposal system to the City's wastewater utility. Offset - The amount of the reduction of a capital recovery fee designed to fairly reflect the value of system-related facilities, pursuant to rules herein established or administrative guidelines, provided and funded by a developer pursuant to the City's subdivision regulations or requirements. Residential Development - A lot developed for use and occupancy as a residence or residences, according to the City's zoning ordinance. Service Area Area within the corporate boundaries to be served by the water and wastewater capital improvements or facilities expansions specified in the capital improvements program applicable to the service area. Service Unit - Standardized measure of consumption, use, generation, or discharge attributable to an individual unit of development calculated in accordance with generally accepted engineering or planning standards for a particular category of capital improvements or facility expansions, expressed in living units equivalent. Site-related Facility - Improvement or facility which is for the primary use or benefit of a new development and/or which is for the primary purpose of safe and adequate provision of water or wastewater facilities to serve the new development, and which is not included in the capital improvements plan, and for which the developer or property owner is solely responsible under subdivision and other applicable regulations. System-related Facility - A capital improvement or facility expansion which is designated in the Capital Improvements Plan and which is not a site-related facility. A system-related facility may include a capital improvement which is located offsite, within or on the perimeter of the development site. Tap Purchase The filing with the City of a written application for a water or wastewater tap and the acceptance of applicable fees by the City. The term "tap purchase" shall not be applicable to a meter purchased for and exclusively dedicated to fire protection. Wastewater Facility - Improvement for providing wastewater service, including, but not limited to, land or easements, treatment facilities, lift stations, or slake\impact fee.ord -8- (29) (30) (31) (32) (33) interceptor mains. Wastewater facility excludes wastewater lines or mains which are constructed by developers, the costs of which are reimbursed from charges paid by subsequent users of the facilities and which are maintained in dedicated trusts. Wastewater facilities also exclude dedication of rights-of-way or easements or construction or dedication of on-site wastewater collection facilities required by valid ordinances of the City and necessitated by and attributable to the new development. Wastewater Facility Expansion - Expansion of the capacity of any existing wastewater improvement for the purpose of serving new development, not including the repair, maintenance, modernization or expansion of an existing wastewater facility to serve existing development. Wastewater Improvements Plan - Portion of the CIP, as may be amended from time to time, which identifies the wastewater facilities or wastewater expansions and their associated costs which are necessitated by and which are attributable to new development, and for a period not to exceed ten (10) years, and which are to be financed in whole or in part through the imposition of wastewater capital recovery fees pursuant to this Ordinance. Water Facility - Improvement for providing water service, including, but not limited to, land or easements, water supply facilities, treatment facilities, pumping facilities, storage facilities, or transmission mains. Water facility excludes water lines or mains which are constructed by developers, the costs of which are reimbursed from charges paid by subsequent users of the facilities and which are maintained in dedicated trusts. Water facilities also exclude dedication of rights-of- way or easements or construction or dedication of on- site water distribution facilities required by valid ordinances of the City and necessitated by and attributable to the new development. Water Facility Expansion - Expansion of the capacity of any existing water improvement for the purpose of serving new development, not including the repair, maintenance, modernization or expansion of an existing water facility to serve existing development. Water Improvements Plan - Portion of the CIP, as may be amended from time to time, which identifies the water facilities or water expansions and their associated costs which are necessitated by and which are attributable to new development, and for a period not to exceed ten (10) years, and which are to be financed in whole or in part through the imposition of water capital recovery fees pursuant to this Ordinance. SECTION 5 APPLICABILITY OF CAPITAL RECOVERY FEES A. This Ordinance development which occurs areas. shall be uniformly applicable to new within the water and wastewater service B. No new development shall be exempt from the assessment of capital recovery fees as defined in this Ordinance. SECTION 6 CAPITAL RECOVERY FEES AS CONDITIONS OF DEVELOPMENT APPROVAL No application for new development shall be approved within the City without assessment of capital recovery fees pursuant to this Ordinance, and no water and wastewater tap shall be issued and no building permit shall be issued unless the applicant has recovery fees imposed by and calculated paid the capital hereinunder. SECTION 7 ESTABLISHMENT OF WATER AND WASTEWATER SERVICE AREAS A. The water and wastewater service areas are established as shown on the Service Area Map which is Exhibit A for this Ordinance. B. The service areas shall be established consistent with a~y facility service area established in the CIP for each utility. Additions to the service area may be designated by the City Council consistent with the procedure set forth in Chapter 395 of the Local Government Code and its successors. st ake\impact fee.ord -10- SECTION S LAND USE ASSUMPTIONS Land use assumptions used in the development of the capital recovery fees are contained in Exhibit B of this Ordinance. These assumptions may be revised by the City Council according to the procedure set forth in Chapter 395 of the Local Government Code and its successors. SECTION 9 SERVICE UNITS A. Service units are established in accordance with generally accepted engineering and planning standards. B. Service units shall be calculated based on living units equivalent as determined by the size of the water meter(s) for the development, or alternatively, as approved by City Council, based on the recommendation of the Director as a result of an engineering report prepared by a qualified professional engineer licensed to perform such professional engineering services in the State of Texas, which demonstrates that the number of LUE's of service for the new development will be different than those indicated by the size of the water meter. C. If the Director determines that the water pressure in the City's transmission main is significantly higher or lower than standard pressure such that the size of the water meter is not indicative of actual service demand, the Council may adjust the number of LUE's based on a smaller or larger sized meter which more accurately reflects the flow rate and the system pressure conditions. slake\impact fee.ord -11- D. If a fire demand meter (tap) is purchased for a property, the meter size utilized to calculate the number of LUE's shall be the dimension of the portion of the fire demand meter which reflects the meter size which would provide only domestic service to the property. Said reduced meter size shall then be utilized to calculate the number of LUE's. 1. The meter types used to calculate the number of LUE's shall be either simple or compound meters. 2. To avoid the use of fire flow volumes for domestic usage, the owner of any property for which a fire demand meter is purchased shall be required to execute a restrictive covenant on a form approved by the City Attorney, which covenant shall acknowledge the right of the City to assess such fees to subsequent owners of the property. Said covenant shall be executed prior to the purchase of the fire demand meter and shall be filed in the deed records of the County. E. Upon wastewater tap purchase for lots for which no water meter has been purchased, service units shall be established by a professional engineer licensed in the State of Texas, shall be reviewed by the Director and shall be presented to Council, which shall designate the appropriate number of service units. F. The City Council may revise the service units designation according to the procedure set forth in Chapter 395 of the Local Government Code and its successors. s[ake\impact fee.ord -12- SECTION 10 CAPITAL RECOVERY FEES PER SERVICE UNIT A. The maximum capital recovery fee per service unit for each service area shall be computed by dividing the growth-related capital construction cost of service in the service area identified in the capital improvements plan for that category of capital improvements, by the total number of projected service units anticipated within the service area which are necessitated by and attributable to new development, based on the land use assumptions for that service area. Maximum assessable capital recovery fees per service unit for each service area shall be established by category of capital improvements and shall be set forth in Exhibit C to this Ordinance. the 395 B. Maximum assessable fees in Exhibit C may be amended by City Council according to the procedure set forth in Chapter of the Local Government Code and its successors. C. Current collected fees shall be set forth in Exhibit C to this Ordinance, and shall not exceed the maximum fees also set forth in Exhibit C. Current collected fees may be amended by the City Council from time to time, provided they do not exceed the maximum assessable fees. SECTION 11 ASSESSMENT OF CAPITAL RECOVERY FEES A. The approval of any subdivision of land or of any new development shall include as a condition the assessment of the capital recovery fee applicable to such development. B. Assessment of the capital recovery fee for any new development shall be made as follows: slake\impact fee.ord -13- 1. For a development which is submitted for approval pursuant to the City's subdivision regulations following the effective date of this Ordinance, assessment shall be at the time of final plat recordation, and shall be the value of the capital recovery fee per service unit then in effect, as provided in Exhibit C as set forth in Section 10(A). The City may provide the subdivider with a copy of Exhibit C prior to final plat approval, but such shall not constitute assessment within the meaning of this Ordinance. 2. For a development which has received final plat approval prior to the effective date of this Ordinance and for which no replatting is necessary prior to tap purchase, assessment shall be upon tap purchase, and shall be the value of the capital recovery fee per service unit set forth in Exhibit C. 3. Because fire protection is of critical concern to the community as a whole, water demand related solely to fire protection is not subject to collection of a capital recovery fee. However, if the fire protection capacity of the fire demand meter is routinely utilized for domestic purposes as evidenced by the registration of consumption recorded on the City's meter-reading and billing systems, the current owner of the property shall be assessed the current capital recovery fees for the fire protection capacity which has been converted to domestic capacity by its routine usage as domestic capacity. slake\impact fee.ord -14- C. Following assessment of the capital recovery fee pursuant to subsection liB, no additional capital recovery fees or increases thereof shall be assessed against that development unless the number of service units increases, as set forth under Section 9. D. Following the lapse or expiration of approval for a plat, a new assessment must be performed at for such development is filed. the time a new application SECTION 12 CALCULATION OF CAPITAL RECOVERY FEES A. Following the request for new development as provided.in Section 11 of this Ordinance, the City shall compute capital recovery fees due for the new development in the following manner: 1. The number of LUE's shall be determined by the size of the water meter(s) or by evaluation of the Director and determination of Council upon review of reports provided by a professional engineer licensed in the State of Texas, as determined according to Section 9 of this Ordinance. 2. LUE's shall be summed for all meters purchased for the development~ 3. The total service units shall be multiplied by the appropriate per-unit fee value determined as set forth in Section 10; and 4. Fee credits and offsets shall be subtracted as determined by the process proscribed in Section 14 of this Ordinance. C. The value of each capital recovery fee due for a new development shall not exceed a value computed by multiplying the fee assessed per service unit pursuant to Section 10 by the number of service units generated by the development. SECTION 13 COLLECTION OF CAPITAL RECOVERY FEES A. No water or wastewater tap shall be issued until all capital recovery fees have been paid to the City except as provided otherwise by contract. B. Within one (1) year of the effective date of this Ordinance, capital recovery fees shall be collected at the time of the issuance of the building permit for new development, or if no permit is required, at the time of tap purchase. Subsequent to that one year period, capital recovery fees shall be collected as follows: 1. For a development which is submitted for approval pursuant to the City's subdivision regulations subsequent to the effective date of this Ordinance, capital recovery fees shall be collected at the time of building permit. 2. For a development which has received final plat approval prior to the effective date of this Ordinance or for which no replatting is necessary prior to provision of a water or wastewater tap, capital recovery fees shall be collected at the time of tap purchase. B. The City may, at its sole discretion, enter into contracts to establish a different date of fee collection than those provided in this Section. slake\impact fee.ord -16- SECTION 14 SUSPENSION OF FEE COLLECTION A. For any new development which has received final plat approval prior to the effective date of this Ordinance in accordance with Texas Local Government Code, Ordinance 212, or pursuant to the City's subdivision regulations, the City may assess, but shall not collect any capital recovery fee as herein defined, on any service unit for which a valid building permit is issued within one (1) year subsequent to the effective date of this Ordinance. B. If the building permit, which is obtained within the period provided for in subsection (A), subsequently expires, and no new application is made and approved within such period, the new development shall be subject to the payment of a capital recovery fee, as provided in Section 13. C. Prior to the expiration of the one year period described in Subsection A, the city shall assess and collect on such new development described pursuant to Ordinance A. The City related facilities, constructed in Subsection A capital recovery fees 330. SECTION 15 OFFSETS AND CREDITS AGAINST CAPITAL RECOVERY FEES shall offset the present value of any system- pursuant to rules established in this section, which have been dedicated to and have been received by the City, including the value of rights-of-way or capital improvements pursuant to an agreement with the city, against the slake\impact fee.ord -17- value of the capital recovery fee due for that category of capital improvement. B. The City shall credit capital recovery, pro rata, acreage or lot fees which have been paid pursuant to Ordinance(s) prior to the effective date of this Ordinance against the value of a capital recovery due for that category of capital improvement, subject to guidelines established by the City. C. All offsets and credits against capital recovery fees shall be subject to the following limitations and shall be granted based on this Ordinance and additional standards promulgated by the City, which may be adopted as administrative guidelines. 1. No offset or credit shall be given for the dedication or construction of site-related facilities. 2. The unit costs used to calculate the offsets shall not exceed those assumed for the capital improvements included in the capital improvements plan for the category of facility within the service area for which the capital recovery fee is imposed. 3. If an offset or credit applicable to a plat has not been exhausted within ten (10) years from the date of the acquisition of the first tap purchase made after the effective date of this ordinance or within such period as may be otherwise designated by contract, such offset or credit shall lapse. 4. In no event will the City reimburse the property owner or developer for an offset or credit when no capital recovery fees for the new development can be collected slake\~mpact fee.ord -18- pursuant to this Ordinance or for any value exceeding the total capital recovery fees due for the development for that category of capital improvement, unless otherwise agreed to by the City. D. An applicant for new development must apply for an offset or credit against capital recovery fees due for the development either at or before the time of fee payment, unless the City agrees to a different time. The applicant shall file a petition for offsets or credits with the City on a form provided for such purpose. The contents of the petition shall be established by administrative guidelines. The City must provide the applicant, in writing, with a decision on the offset or credit request, including the reasons for the decision. The decision shall specify the maximum value of the offset or credit which may be applied against a capital recovery fee, which value and the date of the determination shall be associated with the plat for the new development. E. The available offset or credit associated with the plat shall be applied against a capital recovery fee in the following manner: 1. among all Such offset or credit shall be prorated equally living units equivalent, as calculated in Section 9, and remain applicable to such LUE's, to be applied at time 0~ filing and acceptance of an application for a building permit or tap purchase, as appropriate, against capital recovery fees due. slake\impact fee,ord -19- 2. If the total number of LUE's used by the city in the original offset or credit calculation described in (1) is eventually exceeded by the number of total LUE's realized by the actual development, the city may, at its sole discretion, collect the full capital recovery fee exclusive of any associated offset or credits for the excess LUE's. 3. At its sole discretion, the City may authorize alternative credit or offset agreements upon petition by the owner in accordance with guidelines promulgated by the City. SECTION 16 ESTABLISHMENT OF ACCOUNTS AND RECORDS A. The City shall establish separate interest-bearing accounts, in a bank authorized to receive deposits of city funds, for each major category of capital facility for which a capital recovery fee is imposed pursuant to this Ordinance. B. Interest earned by each account shall be credited to that account and shall be used solely for funds authorized in Section 17. C. The City shall establish the purposes specified for adequate financial and accounting controls to ensure that capital recovery fees disbursed from the account are utilized solely for the purposes authorized in Section 17. Disbursement of funds shall be authorized by the city at such times as are reasonably necessary to carry out the purposes and intent of this Ordinance; provided, however, that any fee paid shall be expended within a reasonable period of time, but not to exceed ten (10) years from the date the fee is deposited into the account. slake\impact fee,ord -20- D. The City shall maintain and keep adequate financial records for each such account, which shall show the source and disbursement of all revenues, which shall account for all monies received, and which shall ensure that the disbursement of funds from each account shall be used solely and exclusively for the provision of uses specified in the capital improvements program as system-related capital projects. The City Finance Department shall also maintain such records as are necessary to ensure that refunds are appropriately made under the provision in Section 19 of this Ordinance, and such other information as may be necessary for the proper implementation of this Ordinance. SECTION 17 USE OF PROCEEDS OF CAPITAL RECOVERY FEE ACCOUNTS A. The capital recovery fees collected pursuant to this Ordinance may be used to finance or to recoup capital construction costs of service. Capital recovery fees may also be used to pay the principal sum and interest and other finance costs on bonds, notes or other obligations issued by or on behalf of the City to finance such capital improvements or facilities expansions. B. Capital recovery fees collected pursuant to this Ordinance shall not be used to pay for any of the following expenses: 1. Construction, acquisition or expansion of capital improvements or assets other than those identified for the appropriate utility in the capital improvements plan; 2. Repair, operation, or maintenance of existing or new capital improvements or facilities expansions; slake\impactfee.ord -21- improvements to serve existing stricter safety, efficiency, standards; Upgrading, expanding or replacing existing capital development in order to meet environmental or regulatory 4. Upgrading, expanding or replacing existing capital improvements to provide better service to existing development; provided however, that capital recovery fees may be used to pay the costs of upgrading, expanding or replacing existing capital improvements in order to meet the need for new capital improvements generated by new development; or 5. Administrative and operating costs of the city. SECTION 18 APPEALS The property owner or applicant for new development may decisions to the Director or his/her The applicability of a capital recovery fee to the The value of the capital recovery fee due; The availability or the value of an offset or The application of an offset recovery fee due; The amount of the refund due, appeal the following designate: 1. development; 2. 3. credit; 4. capital 5. or credit against a if any. (30) days of notice of the Ail appeals shall be taken within thirty action from which the appeal is taken. s[ ake\impact f ee.ord -22- B. The burden of proof shall be on the appellant to demonstrate that the value of the fee or the value of the offset or credit was not calculated according to the applicable capital recovery fee schedule or the guidelines established for determining offsets and credits. C. The appellant may appeal the decision of the Director to the Council. A notice of appeal to the Council must be filed by the applicant with the City Secretary within thirty (30) days following the Director's decision. If the notice of appeal is accompanied by a bond or other sufficient surety satisfactory to the City Attorney in an amount equal to the original determination of the capital recovery fee due, the development application or tap purchase or building permit issuance may be processed while the appeal is pending. SECTION 19 REFUNDS interest refund at 79, Revised Statutes (Article 5069-1.03, Statutes), or any successor statute. A. Any capital recovery fee or portion thereof collected pursuant to this Ordinance which has not been expended within ten (10) years from the' date of payment, shall be refunded, upon application, to the record owner of the property at the time the refund is paid, or, if the capital recovery fee was paid by another governmental entity, to such governmental entity, together with calculated from the date of collection to the date of the statutory rate as set forth in Article 1.03, Title Vernon's Texas Civil slake\impact fee.ord -23- B. If a refund is due pursuant to subsection (A), the City shall pro-rate the same by dividing the difference between the amount of expenditures and the amount of the fees collected by the total number of service units assumed within the service area for the period to determine the refund due per service unit. The refund to the record owner or governmental entity shall be calculated by multiplying the refund due per service unit by the number of service units for the development for which the fee was paid, and interest due shall be calculated upon that amount. C. Upon completion of all the capital improvements or facilities expansions identified in the capital improvements plan upon which the fee was based, the City shall recalculate the maximum impact fee per service unit using the actual costs for the improvements or expansions. If the maximum impact fee per service unit based on actual cost is less than the impact fee per service unit paid, the City shall refund the difference, if such difference exceeds the impact fee paid by more than ten percent (10%). The refund to the record owner or governmental entity shall be calculated by multiplying such difference by the number of service units for the development for which the fee was paid, and interest due shall be calculated upon that amount. D. Upon the request of an owner of the property on which a capital recovery fee has been paid, the City shall refund such fees if: 1. Existing service is available and service is denied; or st ake\$mpact fee.ord -24- 2. Service was not available when the fee was collected and the City has failed to commence construction of facilities to provide service within two years of fee payment; or 3. Service was not available when the fee was collected and has not subsequently been made available within a reasonable period of time considering the type of capital improvement or facility expansion to be constructed, but in any event later than five years from the date of fee payment. E. The City shall refund an appropriate proportion of capital recovery fee payments in the event that a previously purchased water meter is replaced with a smaller meter, based on the LUE differential of the two meter sizes and the per-LUE fee at the time of the original fee payment, less an administrative charge set forth in City guidelines. F. Petition for refunds shall be submitted to the Director on a form provided by the City for such purpose. Within one month of the date of receipt of a petition for refund, the Director must provide the petitioner, in writing, with a decision on the refund request, including the reasons for the decision. If a refund is due to the petitioner, the Director shall notify the Finance Director and request that a refund payment be made to the petitioner. The petitioner may appeal the determination to the Council, as set forth in Section 18. SECTION Z0 UPDATES TO PLAN AND REVISION OF FEES The City shall review the land use assumptions and capital improvements plan for water and wastewater facilities at least s~ake\~act fee.ord every three years, the first three year period which shall commence from the date of adoption of the capital improvements plan referenced herein. The city Council shall accordingly then make a determination of whether changes to the land use assumptions, capital improvements plan or capital recovery fees are needed and shall, in accordance with the procedures set forth in Chapter 395 of the Local Government Code, or any successor statute, either update the fees or make a determination that no update is necessary. SECTION 21 FUNCTIONS OF ADVISORY COMMITTEE A. The functions of the Advisory Committee are those set forth in Chapter 395 of the Local Government Code, or any successor statute, and shall include the following: 1. Advise and assist the city in adopting land use assumptions; 2. Review the capital improvements plan regarding water and wastewater capital improvements and file written comments thereon; 3. Monitor and evaluate implementation of the capital improvements program; 4. Advise the city of the need to update or revise the land use assumptions, capital improvements program and capital recovery fees; and 5. File a semiannual report evaluating the progress of the City in achieving the capital improvements plans and slake\i~Dact fee. ord -26- any implementation of the capital improvements plan. C. The Council shall adopt procedural committee to follow in carrying out it duties. SECTION 22 AGREEMENT FOR CAPITAL IMPROVEMENTS identifying any problems in implementing the plans or administering the capital recovery fees. B. The City shall make available to the Advisory Committee professional reports prepared in the development or rules for the A. The City Council may approve the owner of a new development to construct or finance some of the public improvements identified in the CIP. In the case of such approval, the property owner must enter into an agreement with the City prior to fee collection. The agreement shall be on a form approved by the City, and shall establish the estimated cost of improvement, the schedule for initiation and completion of the improvement, a requirement that the improvement shall be completed to City standards, and any other terms and conditions the City deems necessary. The Director shall review the improvement plan, verify costs and time schedules, determine if the improvement is contained in the CIP, and determine the method and timing of reimbursing the owner for construction costs from capital recovery fee or other revenues. SECTION 23 USE OF OTHER FINANCING MECHANISMS A. The City may finance water and wastewater capital improvements of facilities expansions designated in the capital improvements plan through the issuance of bonds, through the formation of public improvement districts or other assessment slake\impact fee.ord -27- districts, or through any other authorized mechanism, in manner and subject to such limitations as may be provided by in addition to the use of capital recovery fees. B. Except as herein otherwise provided, the collection of a capital recovery fee shall be such law, assessment and additional and supplemental to, and not in substitution of, any other tax, fee, charge or assessment which is lawfully imposed on and due against the property. SECTION 24 CAPITAL RECOVERY FEES AS ADDITIONAL AND SUPPLEMENTAL REGULATION A. Capital recovery fees established by this Ordinance are additional and supplemental to, and not in substitution of, any other requirements imposed by the City on the development of land or the issuance of building permits or the sale of water or wastewater taps or the issuance of certificates of occupancy. Such fees are intended to be consistent with and to further the policies of City's Comprehensive Plan, capital improvements plan, zoning ordinance, subdivision regulations and other City policies, ordinances and resolutions by which the city seeks to ensure the provision of adequate public facilities in conjunction with the development of land. B. This Ordinance shall not affect, in any manner, the permissible use of property, density of development, design, and improvement standards and requirements, or any other aspect of the development of land or provision of public improvements subject to the zoning and subdivision regulations or other regulations of the s l ake\impact fee.ord -28- city, which shall be operative and remain in full force and effect without limitation with respect to all such development. SECTION 25 RELIEF PROCEDURES A. Any person who has paid a capital recovery fee or an owner of land upon which a capital recovery fee has been paid may petition the Council to determine whether any duty required by this ordinance has not been performed within the time so prescribed. The petition shall be in writing and shall state the nature of the unperformed duty and request that the act be performed within sixty (60) days of the request. If the Council determines that the duty is required pursuant to the ordinance and is late in being performed, it shall cause the duty to commence within sixty (60) days of the date of the request and to continue until completion. B. The Council may grant a variance or waiver from any requirement of this ordinance, upon written request by a developer or owner of property subject to the ordinance, following a public hearing, upon finding that a strict application of such requirement would, when property. regarded as a whole, result in confiscation of the WATER FACILITIES FEES SECTION 26 WATER SERVICE AREA A. There is hereby established a water service area as depicted on Exhibit A, attached hereto and incorporated herein by reference. slake\impact fee.ord -29- B. The boundaries of the water service area may be amended from time to time, and new water service areas may be delineated, pursuant to the procedures in Section 7. SECTION 27 WATER IMPROVEMENT PLAN A. The Water Improvement Plan for the City is hereby adopted as Exhibit D attached hereto and incorporated by reference herein. B. The Water Improvement Plan may be amended from time to time, pursuant to the procedures set forth in Chapter 395 of the Local Government Code and its successors. SECTION 28 WATER CAPITAL RECOVERY FEES A. The maximum capital recovery fee values per service unit for water facilities are hereby adopted and incorporated in Exhibit C attached hereto and made a part hereof by reference. B. The capital recovery fee values per service unit for water facilities may be amended from time to time, pursuant to the procedures in Section 10. WASTEWATER FACILITIES FEES SECTION 29 WASTEWATER SERVICE AREA A. There is hereby established a wastewater service area as depicted on Exhibit A, attached hereto and incorporated herein by reference. B. The boundaries of the wastewater service area may be amended from time to time, and new wastewater service areas may be delineated, pursuant to the procedures in Section 7. stake\impact fee.ord SECTION 30 WASTEWATER IMPROVEMENT PLAN A. The Wastewater Improvement Plan for the City is hereby adopted as Exhibit E attached hereto and incorporated by reference herein. B. to time, pursuant to the procedures set forth the Local Government Code and its successors. The Wastewater Improvement Plan may be amended from time in Chapter 395 of SECTION 31 WASTEWATER CAPITAL RECOVERY FEES A. The maximum capital recovery fee values per service unit for wastewater facilities are hereby adopted and incorporated in Exhibit C attached hereto and made a part hereof by reference. B. The capital recovery fee values per wastewater facilities may be amended from time to the procedures in Section 10. service unit for to time, pursuant SECTION 32 This ordinance shall be cumulative of all provisions of ordinances of the City of $outhlake, Texas, except where the provisions of this ordinance are in direct conflict with the provisions of such ordinances, in which event the conflicting provisions of such ordinances are hereby repealed. Ordinance 330 shall remain in force and effect as provided in Section 14C of this Ordinance. SECTION 33 It is hereby declared to be the intention of the City Council that the phrases, clauses, sentences, paragraphs and sections of this ordinance are severable, and if any phrase, clause, sentence, slake\impactfee.ord -31- paragraph or section of this ordinance shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this ordinance, since the same would have been enacted by the City Council without the incorporation in this ordinance of any such unconstitutional phrase, clause, sentence, paragraph or section. SECTION 34 All rights and remedies of the City of Southlake are expressly saved as to any and all violations of the provisions of Ordinance any ordinances affecting the imposing of impact fees which have accrued at the time of the effective date of this ordinance; and, as to such accrued violations and all pending litigation, both civil and criminal, whether pending in court or not, under such ordinances, same shall not be affected by this ordinance but may be prosecuted until final disposition by the courts. SECTION 36 The City Secretary of the City of Southlake is hereby authorized to publish this ordinance in book or pamphlet form for general distribution among the public, and the operative provisions of this ordinance as so published shall be admissible in evidence in all courts without further proof than the production thereof. SECTION 37 The city Secretary of the City of Southlake is hereby directed to publish the proposed ordinance or its caption and penalty together with a notice setting out the time and place for a public slake\impact fee.ord -32- hearing thereon at least ten (10) days before the second reading of this ordinance, and if this ordinance provides for the imposition of any penalty, fine or forfeiture for any violation of any of its provisions, then the City Secretary shall additionally publish this ordinance in the official City newspaper one time within ten days after passage of this ordinance, as required by Section 3.13 of the Charter of the City of Southlake. SECTION 38 This ordinance shall be in full force and effect from and after its passage and publication as required by law, and it is so ordained. PASSED AND APPROVED ON FIRST READING ON THIS /7 ~' · 1990. ~- ~: · = ATTEST: % '.. .. ~ , ~ i ., ............ ",,,,,,, · . .,,,,,,,* · ,~,,,.m~ CITY SECRETARY DAY OF PASSED AND APPROVED ON SECOND READING ON THIS ~ DAY OF ~-- '~-'-~" '~.- AT T: -.. . .. .. ~ C~ SECRETARY' slake\~mpact fee.ord -33- y , •r APPROVED AS TO FORM AND LEGALITY: ?-) City Attorney r � Date: (26 0 , /7 /f /9 / 0 ADOPTED: ,, 1110 EFFECTIVE: () / 1 q ) 190 1 slake\impactfee.ord -34- EXHIBIT A CITY OF SOUTHLAKE YEAR 2000 WATER & SEWER SERVICE AREA EXHIBIT B LAND USE ASSUMPTIONS EXHIBIT C SCHEDULE OF MAXIMUM CAPITAL RECOVERY FEES AND CURRENT COLLECTED CAPITAL RECOVERY FEES The maximum assessable capital recovery fees are as follows: Water: $1,035, plus the amount of impact fee assessed by the City of Fort Worth, plus the prorata cost of any approach main which is not specifically identified in the CIP and which is required by a new development Wastewater: $1,562, plus the prorata cost of any localized lift station and approach main which is not specifically identified in the CIP and which is required by a new development The current collected capital recovery fees are as Water: Wastewater: follows: $500, plus the amount of impact fee collected by the City of Fort Worth, plus the prorata cost of any approach main which is not specifically identified in the CIP and which is required by a new development $1,000, plus the prorata costs of any localized lift station and approach main which are not specifically identified in the CIP and which are required by a new development EXHIBIT D WATER IMPROVEMENT PLAN The Water Improvement Plan is that contained in the attached Table D. .................................... .............................. CO~L%TRUCTIOI~ IN EXC[SS [XCE$S CAPITAL COST ~XiST IN~ FACIL[TI[S pUtIIp Station at ~rth Beach $132,243 6.500 2621 2535 1.343 $51,582 $60.60 $0.00 CONSTRUCTION EX$STIN(~F^CILtTIES EXISflNG FACILITIES Bicentennial Park Elevated Tank $86295~ 1500 0 340 0.328 0.832 $~8B,987 ................................. CONSTRk.~TIOhi IN EXCESS EXCESS CAPITAL COST $743,573 .......................................................................... EXHIBIT E WASTEWATER IMPROVEMENT PLAN The Wastewater Improvement Plan is that contained in the attached Table E. .................................. £×¢ess/(Defl¢lency) 0 000 [I.269] {52g0) ................................. CO~JSTRtJCTJON IN EXCESS EXCESS CAPITAL COST FUTURE FACILITIES LOC&IlZed Iii( stations (d) CONSTRUCTION IN EXCESS EXCESS CAPITAL COST fACILITiES Fort Worth Star.Telegram 400 W.SEVENTH STREET•FORT WORTH,TEXAS 76102 a. --- STATE OF TEXAS ity of Tarrant Before me, a Notary Public in and for said County and State , this day personally appeared D h1A L-A ry Billing Specialist for the Fort Worth Star-Telegram , published by the Star-Telegram Inc . at Fort Worth, in Tarrant County , Texas ; and who , after being duly sworn, did depose and say that the following clipping of an advertisement was published in the above named paper on the following dates : DATE DESCRIPTION AD SIZE TOTAL INCH/LINE RATE AMOUNT AUG 10 6569215 CL . 358 1X90 L 90 . 38 34 . 20 aun'ct. Tn ORDINANCE NO.510 AN ORDINANCE RE- LATING TO THE REGU- LATION OF THE USE AND DEVELOPMENT OF LAND IN THE INCOR- PORATED LIMITS OF SOUTHLAKE, TEXAS; IMPOSING AN IMPACT FEE ON LAND DEVEL- OPMENT IN SOUTH- LAKE FOR PROVIDING WATER AND SEWER FACILITIES NECESSI- TATED BY SUCH NEW STAT- ING T EPMENT AUTHORITY FOR ADOPTION OF THE ORDINANCE; PROVID- ING DEFINITIONS- /y j� � PROVIDING FINDINGS SIGNED .a- K^-�- -"'a' DECLARATION HECTYCOUNCLS \ND SWORN TO BEFORE ME , TH S THE /Ld al DAY OF // I-1S,7 / cIg9. VIDING FOR THE-SSMENT, PAY- NOTARY PURER AncniT PAYMENT TIME OF ✓V_ AND ENTOFAWATER `'v r AND SEWER FACILI- TIES IMPACT FEE; TARS RAN C N , TEXAS PROVIDING FOR RE- VIEW OF WATER AND SEWER FACILITIES IM- ... PACT FEES AND THE :;.-F�P�'.. BONNIE A. ADAMS ( 01 AFFIDAVITS FEE SCHEDULES;PRO- •- e'•.• VIDING FOR THE PLACEMENTOF REVE- I. \.} NOTARY PUBLIC NUE COLLECTED � �•` State of Texas FROM WATER AND `+',, SEWER FACILITIES IM- / �.�r�+• �0, Comm. PACT FEES INTO WA- )L , or Exp. 11-06-93 , AN D TER SEWERFA- CILITIES IMPACTFEE ( �►''+-%"►----- ACCOUNTS ESTABLISH- ED FOR THAT PUR- E;PROVIDING FOR EXSEMPTIIONS; PRO- TEAR ALONG THIS PERFORATION AND RETURN THE LOWER PORTION WITH YOUR PAYMENT —L VIDING FOR REFUND — OF UNEXPENDED FUNDS; PROVIDING FOR USE OF FUNDSDE- RIVED FROM WATER REMIT TO : 400 W . SEVENTH , FW , TX 76102 AND SEWER FACILI- TIES IMPACT FEES; PROVIDING THAT WA- -� C TER AND SEWER FA- tar-Telegram :::mt r IC: ►X ii•X40,0 04X X8X- 4.4c Y(1A XrX/rniY•76'197 FA- CILITIES IMPACT FEES MAY BE PLEDGED TOWARD PAYMENT OF BOND ISSUESANDSIMI- ACCOUNT LAR DEBT INSTRU- CIT57 AMOUNTDE 34 . 20 MENTS; PROVIDING NUMBER O THAT TH IS OR DINANCE SHALL BE CUMULA- TIVE OF ALL ORDI- �F 1 NANCES;PROVIDINGA PAGE SEVERABILITY CLAUSE PROVIDING A SAVINGSCLAUSE;PRO- VIDING FOR PUBLICA- TION IN PAMPHLET FORM; PROVIDING FOR PUBLICATION IN THE OFFICIAL NEWS- PAPER; AND PROVID- ING AN EFFECTIVE DATE. PASSED AND APPROVED - -1990 INSECo DF AUG- OF SOUTHLAKE ORIGINA )ING. (FICKES CARROLL rTHIS ._.,.. � 34 . 20 ATTEST:OF SOUTHLAKE A K E TX 76092 0 AMOUNT P. ` C•' .)RA L.LEGRAND SECR OVEDAS ETAR TOFORM:Y TN : SANDY LEGRAND - - - - _LEN TAYLOR,JR. --Y ATTORNEY PLEASE WRITE IN AMOUNT ENCLOSED Fort Worth Star-Telegram 400 W SEVENTH STREET•FORT WORTH,TEXAS 76102 THE STATE OF TEXAS •unt of Tarrant Before me , a Notary Public in and for said County and State , this day personally appeared Dona Latta Billing Specialist for the Fort Worth Star-Telegram, published by the Star-Telegram Inc . at Fort Worth , in Tarrant County, Texas ; and who , after being duly sworn , did depose and say that the following clipping of an advertisement was published in the above named paper on the following dates : DATE DESCRIPTION AD SIZE TOTAL CH/LINE INCHlLi AMOUNT JUL 25 6557131 CL . 358 1X88 L 88 . 38 33 . 44 july 25 1358 Legal Notices ! NOTICE OF PUBLIC HEARING NOTICE is hereby given to all I Interested persons that theClty Council of the City of Southlake, Texas,will be holding a public ._..... -,__... hearing during the Regular Ci- ty Council meeting on August 7, 1990,to begin at 7:30 p.m.in the City Council Chamber of CITY Hall,667 NorthCarroll Avenue, Southlake,Texas. Pu rposeof the hea ring is tocon- sider the second reading of the following ordinance. e ORDINANCE NO.510 SIGNED kol----„--,a_tat .a.....,AN ORDINANCE RE- LATING THE REGU- PATIOON OOELOPMENT HIS THE 25th. DAY O F July, 1990. SEDDINT"M Ts of AND SWORN TO BEFORE f1E T NOTARY PUBL e, • �� LZ� _,._..._,1 LAKE, TEXAS; IMPOSING AN IMPACT FEE ON LAND REVEL- •!..•....,-'. r.r-, T A R R A N T CO T Y , TEXAS OPMENT IN SOUTH- :`i�P�� •.. ''-`•'' ""' ' LAKE FOR PROVIDING ,1 BONNIE A. DAMS WATER AND SEWER -�� (� Nl3TARY PUBLIC 01 A F F I D A V I S FACILITIES NECESSI- 1• •� TATED BY SUCH NEW M Stag r� DEVELOPMENT;STAT- ING ��••Ni Texas OR ADOPTION OF THE of�� Comm M. Exp. ]1'06-93 ORDINANCE; PROV10. ING DEFINITIONS; .ram...,, I PROVIDING FINDINGS AND DECLARATIONS OF THE CITY COUNCIL; elf/} " PROVIDING FOR THE t '�/� (, PAY- MENT ANDASSESSMENTIME o TEAR LONG THIS PERFORATION AND RETURN THE LOWER PORTION WITH YOUR PAYMENT --- � - - PAYMENTOFAWATER AND SEWER FACILI- TIES IMPACT FEE; PROVIDING FOR RE- VIEW SEWER FACILITIES IM- REMIT TO : 400 W • SEVENTH , FW , TX 76102 PACT FEES AND THE , ,,-1,,S FEE SCHEDULES;PRO- VIDING FOR THE Star-Telegram PLACEMENTOF REVE- {1_.p,li �;• rX��107CIGkO XQ (�,XX76197 NUE COLLECTED FROM WATER AND — - SEWER FACILITIES IM- PACT FEES INTO WA- ACCOUNT C I T 5 7 AMOUNT 33 . 44 ' TER AND SEWER FA- NUMBER DUE i CILITIES IMPACT FEE ACCOUNTS ESTABLISH- ED FOR THAT PUR- Pr PROVIDING FOR PAGE IF 1 t IPTIONS; PRO- Y .; FOR REFUND OF UNEXPENDED FUNDS; PROVIDING FOR USE OF FUNDSDE- RIVED FROM WATER AND SEWER FACILI- TIES IMPACT FEES; PROVIDING THAT WA- TER AND SEWER FA- CILITIES IMPACT FEES MAY BE PLEDGED TOWARD PAYMENT OF BOND ISSUESANDSIMI- MENTSS;LAR EPROVIDING A T INSTRU- Y OF SOUTHLAKE ORIGINA SAVINGS CLAUSE;PRO- VIDING FOR PUBLICA- N C A R R O L L 3 3 • 44 TOR M;IN AND PROV D- T H L A K E T X 7 6 0 9 2 0 THIS AMOUNT ► ING AN EFFECTIVE DATE. ATTN : SANDRA LEGRAND City of Southlake Sandra L.LeGrand City Secretary PLEASE WRITE IN AMOUNT ENCLOSED