Title
A resolution amending Resolution No. 15-2002, adopted March 18, 2002, to allow Kaufman County Municipal Utility District No. 5 to issue bonds for roadway improvements on property consisting of approximately 145 acres commonly known as Travis Ranch in Kaufman County and located within the City’s extraterritorial jurisdiction.
Body
On August 14, 2017, CTMGT Land Holdings, LP, requested an amendment to Resolution No. 15-2002, to allow Kaufman County Municipal Utility District No. 5 (the “District”) to issue road bonds. On September 18, 2017. Council deferred a decision pending the outcome of annexation that was in progress.
In 2002, the City gave consent for the District to issue bonds for water, sewer and drainage improvements. The District acquired road powers from the Texas Legislature in 2007. At an election held in election in 2008, the District was authorized to issue $211.5 million in road bonds.
The proposed resolution adds a new subsection (c)(v) to Section 2 of the original resolution that will allow the District to issue road bonds.
Recommended/Desired Action
Staff recommends approval of the resolution.
Attachment(s)
Redline comparison
Proposed resolution
Drafter
Richard G. Gertson
Head of Department
Richard G. Gertson