Consider and take appropriate action to approve an Agreement for BIlling and Collection Services Between Travis County and the City of Buda Related to Property Located in Travis County Within the Persimmon Public Improvement District (Commissioner Morales)

Staff Report & Agenda Item Details

The City of Buda (“City”) authorized the creation of the Persimmon Public Improvement District (the “District” or the “Persimmon PID”), effective on September 17, 2024, by a majority vote of all members of the City Council adopting a resolution in accordance with the City Council’s findings under Section 372.010 of the Texas Public Improvement District Assessment Act (the “PID Act”) (Tex. Local Gov’t Code Secs. 372.001 to 372.030). The City may, from time to time, amend such resolution or reauthorize the District in the future, and this Agreement will remain in force.  The Persimmon PID is located partly in Hays County and partly in Travis County.<br><br>The City has adopted an assessment plan that apportions the cost of the planned services and improvements among the parcels of real property in the District and has prepared an assessment roll stating the amount of the assessment due from each such parcel and providing that the assessments may be paid in annual installments (the “Assessments”) pursuant to Sec. 372.016 of the PID Act. <br><br>The City will manage and administer public improvement districts created by the City, including the District. The City has selected a third-party administrator (the “Administrator”) to assist the City in the management of the District, including the management of assessment revenue collected from assessable property within the District, and payment of the City’s bond debt of the District through a depository bank, with trust powers, selected by the City (“City Depository Bank”). The City’s agreements relating to the District require that the annual installments of the Assessments for the property located in Travis County be billed and collected by the Travis County Tax Assessor-Collector. <br><br>The Agreement sets out the duties and responsibilities of the County and the City related to the billing and collection of the Assessments for the property located in Travis County, as authorized by Sec. 372.0175 of the PID Act and pursuant to the Interlocal Cooperation Act (Tex. Gov’t Code Chapter 791). <br><br>Except as otherwise specifically provided, the term “Assessment” as used in this Agreement refers to both the fully apportioned cost of the planned services and improvements due from each parcel according to the assessment roll and the annual installment due from each such parcel.<br><br><strong><em>Agreement for Billing and Collection of Installments of Assessments. </em></strong><br>The Agreement for Assessment and Collection Services attached hereto provides that the Travis County Tax Assessor-Collector perform billing and collection services with respect to property taxes and District assessments for the property located in Travis County in the Persimmon Public Improvement District.