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Home My WebLink About2352 08-08-2023�� IIIIIIIIIIII IIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIII IIIIIIIIIIIIIIIIII SORDINANCE UBMIT ER CITY OF EULESS D223142243 08/09/2023 12:05 PM Page: 1 of 16 Fees: $79.00 t� MAY LOUISE NICHOLS COUNTY CLERK ORDINANCE NO. 2352 AN ORDINANCE APPROVING AND ADOPTING THE ANNUAL SERVICE AND ASSESSMENT PLAN FOR GLADE PARKS PUBLIC IMPROVEMENT DISTRICT NUMBER 2 IN THE CITY OF EULESS, TEXAS; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR FILING IN THE COUNTY RECORDS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Euless, Texas, is a home rule city acting under its charter adopted by the electorate pursuant to Article XI, Section 5 of the Texas Constitution and Chapter 9 of the Local Government Code; and WHEREAS, pursuant to Chapter 372 of the Texas Local Government Code (the "Act"), on June 9, 2015, the City Council of the City of Euless ("City Council") adopted Resolution No. 15-1461, creating Glade Parks Public Improvement District Number 2 ("PID #2"); and WHEREAS, pursuant to Sections 372.013 and 372.014 of the Act, the City Council is required to approve an annual service and assessment plan for PID #2; and WHEREAS, in accordance with Section 372.013(b) of the Act, the service and assessment plan must (i) cover a period of at least five years; (ii) define the annual indebtedness and the projected costs for improvements; and (iii) include a copy of the notice form required by Section 5.014, Property Code; and WHEREAS, following the adoption of the budget for Fiscal Year ("FY") 2023-2024, the City Council now seeks to approve the annual service and assessment plan for PID #2. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE: CITY OF EULESS, TEXAS, THAT: SECTION 1. The City Council hereby finds that the statements set forth in the reci�als of this Ordinance are true and correct, and such recitals are incorporated as Part of this Ordinance. SECTION 2. The City Council, pursuant to Chapter 372 of the Act, hereby approves the FY 2022-2023 Service and Assessment Plan for PID #2, attached hereto as Exhibit A. SECTION 3. SEVERABILITY CLAUSE. 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, 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 4. FILING. The City Secretary is directed to cause a copy of the approved Service and Assessment Plan for PID #2, including the notice form required by Section 5.014, Property Code, to be filed with the County Clerk of Tarrant County, Texas no later than the seventh (7th) day after the adopted date of this Ordinance. SECTION 5. EFFECTIVE DATE. This Ordinance shall become effective from and after its date of passage. PRESENTED AND APPROVED ON meeting of the Euless City Council on the ayes, 0 nays, and 0 abstentions. APPROVED: Linda Martin, May r a• n ; " Ki , t �� TRMC, CMC, City Secretary 'OG iGjernance Officer D AS TO FORM: Wayne Olson, City Attorney FIRST AND FINAL READING at a regular 8th day of August 2023, by a vote of 6 Ordinance No. 2352, Page 2 of 16 EXHIBIT A FY2023-2024 Service and Assessment Plan Glade Parks Public Improvement District Number Two (PID #2) City of Euless, Texas Introduction On June 9, 2015, the City Council of the City of Euless, Texas passed and adopted Resolution No. 15-1461 (Appendix A) establishing the Glade Parks Public Improvement District Number Two (PID #2). 2. Nature of the Improvements The general nature of the improvements to be performed by the PID #2 is to fund the following improvements (collectively, the "Authorized Improvements"): (a) payment of expenses incurred in the establishment, administration, and operation of the District; and (b) the design and construction of public improvement projects authorized by the Act that are necessary for development of the Property, which public improvements will include constructing an off-street parking garage and the establishment and improvement of a park and park facilities within the District. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. 3. Authorized Improvements 1) Parking Garage 2) Park and Park Amenities 3) Bond Issuance Costs Total Costs 4. Financing of Improvements The Authorized Improvement: Euless. PID #2 it is responsible f Improvements including interest an contributions as described below). Tr improvements within the District was below. Year Tranche 4 2018 Estimated Costs $1,901,793 $1,287,387 $ 79,730 $3.268.910 were funded through a loan from the City of r all of the costs associated with Authorized financing costs (with the exception of TIRZ loan was made when construction of the public complete. The debt issuance schedule is shown Total Debt $3,268,910 The detailed amortization of annual indebtedness is attached as Appendix B. Ordinance No. 2352, Page 3 of 16 5. Assessment Plan In addition to the use of PID #2 funds it is anticipated that Tax Increment Reinvestment Zone Number Three, City of Euless, Texas — Glade Parks (the "TIRZ") will contribute to the costs of the Authorized Improvements. Once the original PID #1 obligations have been fulfilled, excess TIRZ revenue will flow into the Glade Parks PID #2. As the TIRZ fund begins to accrue revenue from the incremental increase in property values, the PID assessments will be decreased by an amount equal to the total amount of revenue received in the TIRZ fund annually. A more detailed description of the PID assessment calculation methodology and the relationship between the PID #2 and the TIRZ is described below. PID #2 Assessment Calculation A - B = C The PID #2 assessment will be calculated annually and be equal to the total debt service costs less any revenue collected and available after PID #1 Assessment calculation by the TIRZ. In the example above, (A) represents total debt service (B) represents available TIRZ funds and (C) represents total PID #2 assessment required revenue. An assessment rate (E) would be set to provide revenue equal to PID #2 assessment required revenue (C). To calculate the assessment rate divide the PID #2 assessment required revenue (C) by the estimated value of the PID #2 (D) and multiply the resulting number by 100 to find the assessment rate per $100 value. Assessment Calculation ( C / D ) * 100 = E per $100 value The annual service plan is attached as Appendix C. 6. Levy of Assessments The assessment year shall be concurrent with the City's tax year. 7. Assessment Roll The Assessment Roll for the next five years is attached as Appendix D. 8. Notice Form A copy of the notice form as required by Section 5.014, Property Code is attached as Appendix E. Ordinance No. 2352, Page 4 of 16 Appendix A RESOLUTION NO. 15-1461 A RESOLUTION CREATING, AUTHORIZING, AND ESTABLISHING THE GLADE PARKS PUBLIC IMPROVEMENT DISTRICT NUMBER TWO; AUTHORIZING ASSESSMENT METHOD AND COLLECTION SERVICE THEREOF; AND PROVIDING FOR PUBLICATION AND AN EFFECTIVE DATE. WHEREAS, Chapter 372 of the Texas Local Government Code (the "Act") allows for the creation of public improvement districts; and WHEREAS, on May 12, 2015, owners of real property located near the intersection of SH-121 and Cheek Sparger Road delivered to the City of Euless a Petition (the "Petition") to establish the Glade Parks Public Improvement District (PID) Number Two (the "District') that is shown on the map attached hereto and made a part hereof and labeled Exhibit A (the "PID Boundary"); and WHEREAS, the Act states that the Petition is sufficient if signed by owners of more than 50 percent of taxable real property, according to appraised value, and either of the following: more than 50 percent of the area of all taxable real property liable for assessment under the proposal, or more than 50 percent of all record owners of property liable for assessment; and WHEREAS, City staff has reviewed the Petition and determined that owners of more than 50 percent of the appraised value of the taxable real property liable for assessment, and owners of more than 50 percent of the area of all taxable real property liable for assessment within the District have executed the petition; and WHEREAS, the Act further requires that prior to the adoption of the resolution providing for the establishment of the Glade Parks Public Improvement District Number Two to provide supplemental public improvements to be funded by assessments on real property and real property improvements, the City Council must hold a public hearing on the advisability of the improvements; the nature of the improvement; the estimated cost of the improvement; the boundaries of the public improvement district; the method of assessment; and the apportionment of costs between the district and the municipality as a whole; and WHEREAS, after providing notices required by Section 372.009 of the Act, the City Council on June 9, 2015, conducted a public hearing on the advisability of the improvements, and adjourned such public hearing. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS, THAT: Ordinance No. 2352, Page 5 of 16 Section 1. Pursuant to the requirements of the Act, the City Council, after considering the Petition for the proposed District and the evidence and testimony presented at the public hearing on June 9, 2015, hereby finds and declares: (a) Advisability of Improvements Proposed for the District. It is advisable to create the District to provide the improvements described in this Resolution. (b) Nature of the Improvements. The purpose of the District is to fund the following improvements (collectively, the "Authorized Improvements"): (a) payment of expenses incurred in the establishment, administration, and operation of the District; and (b) the design and construction of public improvement projects authorized by the Act that are necessary for development of the Property, which public improvements will include constructing an off-street parking garage and the establishment and improvement of a park and park facilities within the District. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. (c) Estimated Cost of the Improvements. The total estimated cost of improvements provided by the District is approximately three million, one hundred and eighty-nine thousand, one hundred and seventy-nine dollars ($3,189,179). The estimated costs do not include any interest costs associated with debt service. The District shall incur no bonded indebtedness, but will be responsible for indebtedness, including principal, interest and other financing costs, incurred by the City of Euless to finance improvements that are listed as Authorized Improvements attached hereto and made a part here of and labeled Exhibit B (the "Authorized Improvements"). (d) Boundaries. The District is located wholly within the City of Euless, Texas. The boundaries of the District are shown on the map of the District (Exhibit A). (e) Method of Assessment. The method of assessment is based on a variable assessment rate on the value of property in the Public Improvement District (PID) equal to the annual debt service costs incurred by the City of Euless to fund Authorized Improvements within the PID less any available incremental tax revenue generated from City of Euless Tax Increment Reinvestment Zone Number Three. The Service Plan will reflect the District's intention to reduce the annual assessment rate proportional to the annual incremental revenue received from City of Euless Tax Increment Reinvestment Zone Number Three, Resolution No. 15-1461, Page 2 of 8 Ordinance No. 2352, Page 6 of 16 (f) Apportionment of Cost Between District and Municipality. All of the costs of the Authorized Improvements will be paid from the assessments or available incremental tax revenue generated from the City of Euless Tax Increment Reinvestment Zone Number Three and from other sources of funds, if any, available to the Owner. The City will at no time be responsible to fund the costs of the Authorized Improvements with any revenue other than paid from the assessments or that which is available in the City of Euless Tax Increment Reinvestment Zone Number Three. The City of Euless is not responsible for payment of assessments against exempt City property in the District, which is specially benefited. Property owned by tax-exempt religious organizations will be exempt from assessment, as will property owned by persons receiving and qualifying for 65-or-older homestead exemption under Section 11.13 (c) or (d) of the Texas Property Tax Code. Payment of assessment by other exempt jurisdictions must be established by contract. No such contracts are in place, nor are any proposed. City rights -of -way and city parks are not subject to assessment. Properties otherwise exempt from ad valorem taxes are not subject to assessment. (g) Assessment Roll and Setting of Rate. The City Manager shall annually prepare an assessment roll and file that roll with the City Secretary, in conformity with the exemptions from assessment established under subparagraph (f) above. The annual assessment installment for each year shall equal the City of Euless annual debt service for Authorized Improvements constructed under subparagraph (b) above less any available incremental tax revenue generated from City of Euless Tax Increment Reinvestment Zone Number Three. (h) The findings set forth in the preamble of this Resolution are hereby found to be true and correct. Section 2. The Glade Parks Public Improvement District Number Two is hereby authorized and established as a Public Improvement District under the Act in accordance with the findings as to the advisability of the improvements contained in this Resolution. The District shall be subject to all of the terms, conditions, limitations and reservations contained in the findings of Section 1 of this Resolution. Section 3. The City Secretary is directed to give notice of the authorization for the establishment of the District by publishing the caption of this Resolution once in the newspaper of general circulation in the City of Euless. Such authorization shall take effect and the District shall be deemed to be established effective upon the publication Resolution No. 15-1461, Page 3 of 8 Ordinance No. 2352, Page 7 of 16 of such notice. The District shall automatically dissolve on December 31, 2035 unless the District is renewed through the petition and approval process as provided by the Act or the District is sooner terminated as provided by law. The power of the City to continue to levy and collect assessments within the District will cease and the District will be dissolved upon the date that all indebtedness incurred by the City of Euless to finance the Authorized Improvements has been liquidated and a petition requesting dissolution is filed with the City Secretary of the City of Euless and the petition contains the signatures of at least enough property owners in the District to make the petition sufficient for creation of a public improvement district as provided in Section 372.005(b) of the Act. Section 4. The Municipality will provide assessment collection services for collection of the special assessments. Section 5. The Resolution shall take effect immediately from and after its passage in accordance with the Charter of the City of Euless and upon publication, and it is accordingly so resolved. APPROVED AND ADOPTED at a regular meeting of the Euless City Council on June 9, 2015, by a vote of 7 ayes, 0 nays, and 0 abstentions. APPROVED: d�WAA�� Main, yor v ATTE T: Sutter, TRMC, City Secretary Resolution No. 15-1461, Page 4 of 8 Ordinance No. 2352, Page 8 of 16 Exhibit A Beginning at the point of intersection of the eastern right of way (ROW) line of Harrington Gardens Parkway and the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, thence West along the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, thence South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the southern property line of GLADE PARKS Block H Lot 1 & BLK G LOT 1, thence West along the southern property line of GLADE PARKS Block H Lot 1 & BILK G LOT 1 to a point where said line intersects with the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, thence South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the projection of the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT, thence West along the projection of the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT to a point where said line intersects with the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT, thence South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT to a point where said line intersects with the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT, thence East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT to a point where the projection of said line intersects with the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, thence East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where the projection of said line intersects with the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT, thence East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT to a point where the projection of said line intersects with the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT, thence Resolution No. 15-1461, Page 5 of 8 Ordinance No. 2352, Page 9 of 16 North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT to a point where the projection of said line intersects with the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT, thence North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where said line intersects with the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT, thence West along the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where said line intersects with the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT, thence North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where said line intersects with the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT, thence West along the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where the projection of said line intersects with the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, thence North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, which is the point of beginning. Resolution No. 15-1461, Page 6 of 8 Ordinance No. 2352, Page 10 of 16 Exhibit A • PmPeriy Nnu IWelrrin d NAVIIIS,1011N 11 SURVEY ANIt'_ 665 Iry[I 1A N SURVEY HAWNl, 70NN 11 SURVEY IEWNn JOHN ACDr[tt 665 T"'I 7A09 SI PARATID MET Resolution No. 15-1461, Page 7 of 8 PdN Pf ,. [tlttrn ro1 ROVE .O1e . IltUln6lon Gyreenl PEr[vry tna nonnrm Prrwnh uer of NAVINS, IONN rr SUPVIY AE{irtD E6S Trt[17A 11 VINS, NNI. Nt( AU INt5166S 12 SIPMAYED IPAC1C1 N4Dern Dropeny line of NAVINS, IONN N SURVEY ARUrtyl ERS irPt17A0S SIPAPRIEO 1-1 Ordinance No, 2352, Page 11 of 16 Exhibit B Authorized Improvements Estimated Costs Parkinq Garage 1,901,793.00 Park and Park Amenities 1,287,386,75 TOTAL COSTS 3,189,179.75 Resolution No. 15-1461, Page 8 of 8 Ordinance No. 2352, Page 12 of 16 APPENDIX B Glade Parks PID Service Plan (Annual Indebtedness PID01 Tranciwt PIDN1 T—ho2 PID e1 T—hc3 PID et Issuance Pl— Trancho4 S 3.035 Million leawncs Principal S 5.715 Million Coupon Issuanw Interest Total PA FlawlTobl Data Principe] E3.030 Million Coupon 1—ce Intermit TOW]PA Flacal TOW • S 12.1 Million Combined Date Principal Coupon Inbrost Total PH FlawlTebl_ Date Principal Coupon Intermit Total PH Flawl Tobl Data 0 m m m v152D11 5D $0 m $0 - v152011 m 0 m m m v152077 $0 ' O.W% $0 m m v152011 m 0 $0 $0 W v152011 &is20t1 $0 $0 0 $0 m m W152011 $0 S%'Ta S54,612 m &152011 m 0 $0 m m &75`2011 $D O.W% $54,#2 $54,622 m &lsMil m 0 m m m $0 9302077 so 0 $0 m $0 wMao11 $0 $D m Ss4,622 9302011 m 0 m m m 93D2D1t m O.W% $0 m $KM 93&M11 $0 D m $0 $0 m v152012 m 0 m m $0 v152012 m $57,4.97 $57,49T $0 v152o12 m 0 m m $0 v15=2 m O.OD% s57,a9T $57,49T $0 v152012 m 0 0 m $0 $0 $0 &152012 m 0 m m $0 &152012 m $57,497 SWAT m W152012 $D 0 $0 m $0 W152012 $0 O.OD% 557,49T EST.497 m &752012 m m $0 SW2012 m D $0 $0 m 9rMfMI2 $0 m $0 $114,994 9302D12 $0 D $0 $0 $0 &M2012 m D.W% m m $114,994 93&2012 SD 0 $0 m m m v152D13 $0 D m $0 $0 v152013 m $5Ta9T $57,497 $0 v152o13 $0 0 m $0 m v152013 m o.W% W,49T S57,497 $0 211&2013 m 0 0 m $0 $D WS=3 m 0 m $0 $0 &152013 $125.000 S57,497 S18.497 $0 &152D13 $0 0 m m $0 &752013 $125,000 3.OD% S57,497 $182,497 m W152D13 $0 0 $0 $D $0 93&M13 m 0 m m m &3&2013 $0 $0 m #39,994 &3&2013 $0 0 $0 $0 m 9r302013 $0 O.OD% $0 m R39.994 9302013 $0 0 m $0 m v157M14 m 0 m $0 m v152014 m $55.622 5W.M m v152014 $0 0 m m $0 'J75/2014 m O.OD% 355,622 S55,622 $0 2152014 $0 0 m m m &15r2014 $0 0 m m m &1&2014 51m,W0 355,671 5185,672 m &152014 m 0 m m $0 &152D14 S7m,= 3.OD% $55,622 $185,622 $0 811512014 $0 0 m m SO 9302014 $0 0 m m $D 93&M14 m m m #61,244 9302014 m 0 m m m 93012014 $0 D.W% m m #41,244 9302014 m D.00% $48,910 $0 21 5=15 $0 0 SDm SOvi&2015 so$102,582 $1M.582 $0 vt&2015 $0 0 $0 $0 $0 V152015 $0 O.W% $531672 353.672 $0 v152G15 m 0.W% $48,910 51m.575 vm,575 m &152015 $0 0 $0 $0 m &752015 $1M.DW $157,247 $287.247 $0 &752015 $00 so $0 $09302075 &152015 S7M,OM 3,00% $53,6T2 $im,671 $0 Br152015 m m soS7R,485 93&M75 so0 $0 SO so 93&M75 SD$0 so$3 . M 9CW2015 m 0 $0 m m $0 D.W% so $MT.344 9302015 v192016 so0 $0 O.W% $103.575 $103,575 $0 7/15=16 $0 0 $0 m m v152016 m $155.297 S1M.297 $0 2J152016 $D 0 So m $0 v152015 $0 DAD% $51,722 $51.722 m &152018 $0 O.W% $1M,575 $103,575 $0 &152D16 m 0 $81,2W $81,2W $D 81152015 $135.OW $ 3 ,497 S371,497 $0 &152016 $0 D $0 m $0 -srw 5 $135.D00 3.OD% $51,T22 StB6,722 m 0 m m R07,150 WMM16 m D $0 m $81.2W 9302016 m m m S58,794 $D 0 $0 m $0 9r362016 m O.W% W $0 32M.444 m 9302016 vim 17 m m S.M% $103,575 $103,575 m v1&2017 m D $56,000 $56,000 $0 v15M17 m $2W,272 RD3.272 m V 512076 v15/2017 m 0 m m m v15201T m 0.004 3.OD% S'u,.W7 $49.07 $49,697 S189,697 m &152017 R20.000 S.W% $103.575 33M,5T5 $0 &1`JM17 m 0 $56,000 $W.W0 $0 .15201T y3fi0.f.W R092M $569.2M m &152017 $0 0 $0 m m $0 m &152017 $140,OW O.OD% m $0 5239.394 9I302017 m 0 m m $427,7W 913OW17 m 0 m m $112,000 9302017 $0 $0 m ST18,544 '017 $0 0 $0 sMW 7 m 0.00% S47.597 S47,59T $0 v1&M18 $0 5,W% $W.075 30,075 m v1S2018 5115,OW 0.05 $56,DDO $171,0m m v752018 S715,DM $201,672 R16,672 $0 v1sw a $0 0 m m $0 $0 V1512 18 W $145,000 3.DD% S47.59T $192.597 $0 &152018 $2M.000 5.00% $98.075 $ M,075 so W15W a $0 0.05 SW.125 E53,125 m W152018 $375.000 31%,TBT SS73.797 $0 W15MJS W 0 m $0 m m &15201: so O.110% m m $240.194 9302018 $0 0.00% m $0 S425,1 93dMi8 $0 0 m 30 $224,125 9302016 m m m $890,469 9l3&2018 m O m $0 93&2018 O.00K 545,422 545,422 $0 v152079 $0 5.W% $93,35 W2.#5 m v152019 5120,01M 0.M 3W 25 5173,iM $D v752019 $120,D00 $1W-872 $310,872 $0 v162D19 3%,574 0.06 $D4,494 $t85,0% S. v1S2078 &152019 m E1W,OM 4.00% S45,422 S7%.422 $0 W152019 $240.000 so= SR.3M S332,325 $0 &1&M79 $0 0.05 EW.1M so Sm.125 m $0 $23,2W &752019 &304019 53W,W0 m $187,872 m 35so m m $888,744 9,10=19 93&2019 m m G.D4 0 55 so 554.23'7 m $239,305 &302D19 m 0.00% m m R40,844 99&20t9 $0 0.00% $0 $D S424,6W m a302019 v152020 m SIM,= 0 0.05 550,1M $1W.125 $0 v1&2D20 S1m.= $178.872 $Wil 8R $0 v152m0 3138,979 O.m 4 $54,M7 E194,216 m v1&2020 $0 0.00% $42,422 $42,4M m vt512 m 5.W% 5.00% m6.325 S%,325 S%1325 S34t,R5 m &7&20M m 0.05 E46,875 546,875 m &152020 $410,000 $175,622 $585,622 $0 &152020 $D 0.D3 $52:137 $52,137 $0 &152020 E155,OW 4.IX1% $42,422 $197.422 $0 &1520M R%,OW 0.W% m m $427.650 9'302020 m 0 $0 m S227,000 990202D m m m E894.d94 9/30.2020 m 0 m m #46.351 93D2020 m D.W% m m R39.644 &3&2020 m S.W% 519,9W 579,9W m v752m1 $135,OW S.W% $46,875 $181,875 m v152m1 $135,OW $7%,167 SM1,147 m v152m1 5144,0% 3.00% $52,t37 E1%,233 m v152m1 m 0,00% 539,322 539,322 m v7&2m1 m S.W% $79,9W S344,9W $0 &1&M21 $0 5.00% $43,500 543.500 m &152021 $425,oW $162.T72 $587,T72 $0 &152021 m 3:1 $49,975 549,975 $0 &1s2021 S1M= 4,OD%% R9.322 $199,322 $0 &1&M21 R6.000 O.W% m $0 $424.9W 93&2021 m 0.00% m m R25,375 &3&2041 m $0 m 58%,919 93 l m O.OD% m SD $246,208 9302021 W O.W% $0 m R38,644 &3&2021 30 S.W% $73,325 $73.325 $0 v1572022 5140,000 5.00% 343.SW E783.W0 $0 v152022 $140.000 $152,94T S2WIS47 m v152022 $148,213 3.W% 549,975 S10,1% m vi52m2 m O.OD% $26,122 $W,122 $0 v1512 $0 5.00% $M.325 mm,3M m &15= $0 5.W% $40,000 $40.000 m &1520Y2 5445,W0 E149,d67 5594,447 m &752022 m 3.00% 547,7R 547,752 m &ts2m2 5185,OW 4.00% m6.122 $207,132 $0 &t Y2072 #MAW 0.D0% m m S426,%0 &3&2C12 $0 0.00% $0 m S=3,5M 9302022 m m $0 S%T,396 9'342022 m 0.00% $0 $0 S2cs' 0 9=022 $0 O.00% m m R37,244 9'302071 v1520M $0 m 5.W% $66,3M E66,325 m vi&2023 5145,OW 5.00% 540,Om $185.000 m v752021 $145.W0 $139,147 $284,147 $0 v752D23 $152,330 3.W% S47,752 $2WA# m v1&2m3 m O.W% SR,R2 532,822 so 32 SW% S%,325 3361,325 m &1&20M $0 5.W% $%,375 S36,375 m &7&20M 5470,OW $135,522 $605,522 m &152D23 m O.W% 545,467 $45,467 m &152m3 $175,00D 4,00% 332,822 $207,822 m W15'2M ,Om O.W% m m S42T,6W 930r= so 0.00% $0 $0 $221,375 93&20vi m m m 5889,669 A302m3 m O.W% m m #45,549 93&20M so 0.00% m $0 S2W.W W=2023 vi&2m4 so m 3.W% 55B,9W SSB,9W m vi52024 $tW,OW 5.W% S36,375 $186,375 m v15/2024 $1W,OW 5126,647 R74,647 m v152020 $158,505 4.00% 545,467 52m,92 m v1&2024 m D.DD% SM,322 R9,322 m $M5,OW 3.D0% S58.9W S3M.9W $0 &152C24 m S.DO% 332.625 532.6m $0 &1&2024 $485.00D 3120.897 SW5,89] m &15/2024 m 4.00% 542,M7 $4228T m 871Y1024 $ISO,= 4.00% $29.322 $209,M2 $0 WWW24 MOD m m $422,900 9'3&2024 $0 O.DO% m $0 52790W &3D2024 m $D $0 $890.544 W=024 m 0,00% $0 SO R46,269 9I362024 m O.W% m m 5238,646 9302D24 m $0 3.W% $54,375 554.375 $0 v1&20M SIM.000 5,DO% $32,6M 5192,6M $0 v1&2025 $im,OW $712,722 R1722 m v152025 $164,%1 4A0% S42.297 $206,978 $0 v1sams $0 0.00% $25$0= 225,T12 m V15120M m &7520M m S.W% SW,2M SW,2M m &152@5 $SW,DW 5710,372 %10,322 m &152m5 m 4.W% $39,W6 538,004 m &1&3m5 5185,OOD 6.00% RS,R2 R70,722 m &1S20M R15,OW 3.W% $54,375 m .i169,375 m $4M,75 &30t= m 0 m $0 $222,M &302025 m m S. SBm,044 9302025 m 0 $0 $0 R45,9R 9302025 m O.W% m m 52%,d44 93&225 m so D 3.00% $49,6W $49,650 $0 v7&2DM $185.000 5.00% SM 225 $19,225 m v152026 $101,89T R%,897 $0 vi52m6 $17$0 4.W% 539,034 52sMG m v152026 $0 0.0C% =.22 E22,022 m v752m6 #M.CW 3.W% $496W R74,650 m &152M m S.W% $27,75 $27,750 m &iS2D26 $=.=00 SSM,000 599,422 %1$0 m &7512m6 $0 4.W% 53$0 m5,586 m &752m6 $1%.DW 4.06 R2,022 3217,W2 $0 &1WOM 0 $0 m $424,3W &302026 m 0 w m S222.9T5 9I3&M28 m m m $B%.319 93&2D26 m 0 m m #45.448 9302m m 0.00% m m 3239.044 srM206 vi&2027 $0 m 3.W% 540,775 E66,T75 m v152027 5170,OW 5.W% $27,7W $197.7W $0 211W 57M DOO SM, 7 RW647 $0 v752027 $179,M 4.00% R5,5% 214,6M $0 v152m7 m 0.0% 51$0 518,122 m &15=7 $335,000 3.W% $4:775 $3n.775 m &152027 so 5.00% #5,2W SM2W m 8115I2O27 $W:DW $M.W7 S628,W7 m &152027 $D 4.W% $32.005 $32,005 m 817&207 $205,= 4.13% 518.122 #2,122 m $0 0 m m S424,5W SW2M7 m 0 m m $272,9W 9302m7 m m m EB%.744 93&2C27 m 0 so m #46,%1 93&2D27 m 0,00% m m R41,244 9302027 v1512DM $0 3.W% R9.75D $39.750 $0 vi&20M $1W,W0 S.00 $25,2W S2M,2W m vlS2me $1 W,OW R9,644 $25B,B61 m v152m8 5785,266 4.W% 05 R2,299 $217271 m 7I5f2 m 0.00% $13.894 $13,894 $0 &I520M S345,000 3.00% E397W $ 8 m &1&M28 $0 S.W% $22.5W SM.500 $0 &t Y1C28 $555,OW $76,144 $631,1. m $/1512me $0 4A0% $28.199 $28.299 $0 &15122e #1So 4.13% S73,894 R23,894 $0 m 0 m .M m S424,5W 930=8 $0 0 m $0 $nr.mo &3&M28 m SD m $M.968 9302028 m 0 m SO R45.5T0 91302m8 $0 0.W% m m $23T,788 $0 9302028 vi&MM m 3.OD% $34,575 $34.575 m v1520M $185,W0 5.W% E22.SW R07.5W m v1S2029 5785,000 S%,6M =I.— m v152029 5193,500 4.OD% S21.799 m v152029 $0 D.W% S9.563 $9.563 WIWM9 $355,DW 3.06 $34,575 $M.575 $0 &152029 $0 S.m% $19,725 $19,725 m &1 W02: $STS,OW $63,8R S638.M $0 &15.rP029 m 4.00% $28299 #4,4M #4,4M m &152m9 $220,D00 425% $9,5# 5229,563 m 93&20M m 0 m m $424.15 9'3&2029 $0 D m m #2T'ms 9302m9 $0 $0 $0 S89D,W0 srjO=9 $0 0 m m R46,228 9cJo2029 so O.W% m $0 S4,8% SM9.125 m vi5'2030 $0 3.00% $292W $29250 $0 vt&MW $190AW S.W% $19,725 $209.725 m v152090 SIS AW S53.853 R41,8 $0 2j saaw $199.675 3.W% $24.429 $224,104 m vi&2D30 m O.W% S4,888 &1520M SM.00 3.W% $29,250 SM,1,250 $0 &7&2m0 m S.00 $16,875 $16,875 m &152030 5595,OOD $51,012 $646,013 m &t52D30 m 3.00% #1,434 #t,434 m 81520M $2M.DW 425% $4,887 $234,888 m m 0 m m $423,SW 93&M30 m 0 m m SR6,6W &362D30 $0 m $0 $M.875 9302030 m 0 m m $245.5M WM2CM m 0% m $0 $0 SM.T75 m 93020m v1&2031 $0 3.W% $23,T75 $23.775 $0 V1512031 51%.CW 5.00% $16,875 $211.875 m 2152D31 $195.OW S40,M #%.6W m v152G31 $M5851 3.W% $21,434 32 T'm m v152m1 m 0 m m m =031 $380,DW 3.m% $M.775 $403.R5 $0 &152m1 m 5.00% $13:828 E13,828 $0 &152m1 $MO O R7,6m S417.6m m &1S2m7 m 3.0 St SD46 $18,346 m &152m1 m 0 0 $0 m m $0 93&2m7 m 0 m m $427,55 &302031 $0 0 $D m R25,7m 9/!&2031 m m m $B 'M3 9l3&2m1 so 0 m m R45,631 9302m1 21152IXR m m 0 m m m v152032 m 3,W% $18,075 $18,075 m v15r= $0,00 5.W% $13,828 $213.828 $0 v752032 RW,OOD R1,9m $231,973 m v152032 $212.026 3.13% $18,346 S2M.372 $0 m &15(2 $0 0 m m $0 8715'2m2 .S3%,CW 3.W% $18,075 $408,075 m &1&M32 $0 5.00% $10,7m $10,703 $0 &t62032 E3m,0o) R6,%M $418,778 m &1520R m 3.13% $15,m6 $15,034 $245,4% $D 0 m m $0 &3&2m2 m 0 m m $426,150 &30'MM m 0 $0 m $224,531 93&20# $0 m $0 S650,%1 973o2m2 $0 0 m m 93&20R 0 m m $0 v1S2033 m 3.00% $12.225 $12,225 m vi&20m RiD,OW S.W% $10.7m $220,7m $0 21IMM $210,000 $2Z M $=we $0 213203 E2M,2m 3.13% $15,m4 E235299 $0 v1SrZ $0 0 $0 m so &1&20m $=.Om 3.W% $12.225 $412,2M $D &Isr= m 5.W% $7.291 $7,21 m &1Y2m3 $=:000 $19,516 $419:516 $0 WWMW m 3.13% $11,592 $11,592 m 6 WSl20m m m 0 m $0 $0 9'3p'Mm m 0 $0 $0 $424,4W 930203 m D $0 $0 $=T1,94 93&2m3 m m m S%2,444 a3arsm3 $0 0 $0 m $2,al' 9302033 m 0 $0 $0 m vi&2m4 m 3.00% $6,2M 56.2M $0 v152034 R15,000 5.W% $7,291 3=291 m v152036 $215,00D $13,522 SM8.516 $0 v152034 $228,43 325% $11.592 $=.Ms m m v152034 SIIW034 $0 0 m $0 m &152D34 S415,000 3.00% $6,225 S421,225 m &i&M34 so 5.W% S3:M7 R,797 m &1512034 5415,W0 $1 D.022 FA25:M W &152D34 m 3.25% $7,912 $7.912 32 5. 0 0 m $0 m 93&2034 m 0 $0 $0 $42T,450 913&2030 m 0 m $0 R26,088 93D2034 m $0 $0 3653,548 9302034 $D 0 m $0 9I362034 $0 0 m $0 $0 7/752035 m 0 $0 $0 $0 v152645 S22sWO 5.W% R,797 R28.797 sov152m5 #M,WD R,797 $228,T97 m v752035 $234,670 325 $7,912 S2Q.5R so&152C15 v15=5 $0 0 so so so &1&M35 $0 0 so so $D &I52m5 so 5.00% m $0 m &15r2D35 $0 m so $0 &152035 SO 325% $1,093 S4,099 So so 9302035 so $0 so $0 &3&2035 so so $0 $228,797 9/302m5 m $0 $0 5228,797 9l'.ri2m5 so 0 $0 so R46,%1 &30I2D35 soSD$0 0 m so $0 v152o38 $0 0 $0 so $0 v1520M $0 0 m m m v152DW m m $0 $0 v15`2 $24ZM,t 3.38% S4,0W R47.W3 $0 v152036 so 0 $0 m $0 &i&M% $D 0 $0 $0 $0 &152m6 $0 0 $0 m m &752m8 m m $0 $0 &1s2036 $0 398% $0 $0 m &152me 9 1736 m m 33.Ms. 0 m m 51,440.512 m $4.4TS,510 m $4.4T5,510 &3&2m6 m SsTlsw0 D m $2.302.6W SO m.01T.685 m 39.DIT,665 9302036 So 53.030,OW 0 m S7.210.2m m 54.240.M8 m 54.2W.236 913020% m $11.Te0.WD m 1 $4653.435 m 516,733,4S3 m $16.T33..3 9302m6 _ m 53,266,912 0 m S1,153.1`04 m 54.422,616 S247.W3 54AM.616 0 a s m 2 0 ro w N b 4] O A O PID #1 Glade Parks Municipal Revenue Cashflow First, Second & Third Debt Issuance APPENDIX C Glade Parks PID Service Plan 2024 I 2025 2026 2027 2028 October 2/1512024 Jul 8/1S/2024 October 2/1512025 July 8/1Sf2025 I October 2/15/2D26 Ju/ 8/15/2026 I October 2/15l2027 Ju� 8/1512027 I October 211 St2028 J#, 8/1512028 TIRZ Revenue - Available $4,455,519 S - 52,453, 20 S - $5,779,126 $ - $2,53'1727 $ - $ 7.179,628 $ - $ 2,d61,853 S-I$8,406,516 $ - $ 2,0,{5,805 $ - S 9,303,696 $ - $ 1, 080 S PID Revenue $ - S - S - $ - S - $ - $ - S - S - S - $ - S - I $ - $ - S - S - $ - S - $ - $ - Debt Service Revenue Available TIRZ Revenue -Transfer to Debt $ - $ - $ 883,744 $ - S - $ - $ 886,244 $ - S - $ - S 889,519 $ -IS - $ - S 891,944 $ - $ - $ - $ 893.188 $ - Debt Fund Revenues (Total Revenue) $ - $ - S 883,744 $ - $ - $ - $ 886,244 S - S - S - S 889,519 S - I S - $ - $ 891,944 S - $ - $ - $ 893,188 $ - Debt Fund Payments (Total Expenses) S - S (274,647) S (3,200) S (605,897;; S - $ (272,722) S (3,200) $ (610,322, S - S(266,897) S I (3.200) S (619 422)I $ - S(260.647) $ (3,200) $ (628,09r $ - S(258,844) $ (3,200) S (631,144) Debt Service Cashflow (Operating Income) $ TIRZ Balance Available' 750,000 $ 475,353 $ 1,355,897 $ 750,000 $ 750,000 $ 477,278 $ 1,360,322 $ 750,000 $ $ 6,025.395 $ 7,425,610 750,000 $ 483,103 $ 1,369,422 $I 750,000 $ 750,000 $ 489,353 $ 1,376,097 $ 750,000 $ $ 8.651:962 750,00 $ 491,156 $ 1,381,144 $ 750.000 I S 9,550.377 S 10,087,589 PID #2 Glade Parks Municipal Revenue Cashflow Fourth Debt Issuance 2024 I 2025 2026 202T , 2028 October 2/15/2024 July 8/15/2024 October 2/151202S July 8/15f2025 I October 2/15/2026 July 8/15/2026 I October 2115/2027 July 8/15/2027 I October 2115/2028 July 8/14/2028 PID Revenue $ - $ - $ - $ - $ - $ - $ - S - S - S - $ - $ - S - S - $ - $ - S - $ - $ - $ - TIRZ Remaining Revenue S - $ - $ 6,025,395 $ - $ - $ - $ 7,425,610 $ - $ - $ - $ 8,651,962 $ - 8 - $ - $ 9,550,377 $ - $ - $ - $10,087,589 S Debt Service Account (Total Revenue) $ - $ - $6,025,395 S - $ - $ - $7.425.61D $ - $ - $ - S 8,651,962 S - $ - S - $ 9.550.377 S - $ - S - $10,087,589 $ Debt Service Payments (Total Expenses) S (203,972) 5 - S (42,2971 $ (206,9781 $ - S (39.0041 S(209.860) S - S (35,586) $(214.676) S - S (32,0055 S(217,271) $ - S (28.299) Debt Service Cashflow (Operating Income) $ (203,972) $ 5,821,423 $ 5,779,126 $ (206,978) $ 7,218,632 $ 7,179,628 $(2D9,860) $ 8,442,1 D2 $ 8,406,516 _ $(714,676) $ 9,335,701 $ 9,303.696 $(217,271) $ 9,870,318 $ 9,842,019 APPENDIX D Glade Parks PID Assessment Roll PID #1 1 2 3 4 5 Tax Year 2023 2024 2025 2026 2027 Fiscal Year 2024 2025 2026 2027 2028 Projected Taxable Value $367,351,487 $380,208,789 $395,516,097 $407,289,160 $421,544,281 Accumulated Balance $4,455,519 $5,779,126 $7,179,628 $8,406,516 $9,303,696 Projected TIRZ Revenue $2,453,620 $2,532,727 $2,361,853 $2,035,805 $1,677,080 PID #1 Assessment First, Second & Third Debt Issuance $0 $0 $0 $0 $0 PID Assessment 0.000000 0.000000 0.000000 0.000000 0.000000 PID #2 Assessment Projected Taxable Value $95,670,449 $99,018,915 $103,005,443 $106,071,537 $109,784,041 Remaining TIRZ Revenue $6,025,395 $7,425,610 $8,651,962 $9,550,377 $10,087,589 Fourth Debt Issuance $0 $0 $0 $0 $0 PID Assessment 0.000000 0.000000 0.000000 0.000000 0.000000 Appendix E NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF EULESS, TEXAS CONCERNING THE FOLLOWING PROPERTY (insert property address) As the purchaser of the real property described above, you are obligated to pay assessments to the City of Euless, Texas, for the costs of a portion of a public improvement undertaken for the benefit of the property within the Glade Parks Public Improvement District Number 2 (the "District") created under Subchapter A, Chapter 372, Local Government Code, as amended. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Euless Finance Department. The exact amount of each annual installment will be approved each year by the Euless City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from the City of Euless Finance Department. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. Signature of Purchaser Date Ordinance No. 2352, Page 16 of 16 FILED AND RECORDED OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS D223142243 08/0912023 12:05 PM ORDINANCE Pages: 16 Fees: $79.00 MARY LOUISE NICHOLSON COUNTY CLERK