HomeMy WebLinkAboutOrdinance No. 2026-2663Denton County
Juli Luke
County Clerk
Instrument Number: 109391
Real Property Recordings
ORDINANCE
Recorded On: September 16, 2026 02:39 PM
Number of Pages: 63
" Examined and Charged as Follows: "
Total Recording: $273.00
*********** THIS PAGE IS PART OF THE INSTRUMENT
Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY
because of color or race is invalid and unenforceable under federal law.
File Information:
Document Number: 109391
Receipt Number: 20260916000464
Recorded Date/Time: September 16, 2026 02:39 PM
User: Lisa V
Station: Station 38
Record and Return To:
THE CITY OF THE COLONY
6053 MAIN ST
ATTN: CITY SECRETARY'S OFC.
THE COLONY TX 75056
.•.•"••.w STATE OF TEXAS
'-.
�.-% COUNTY OF DENTON
A� I hereby certify that this Instrument was FILED In the File Number sequence on the date/time
•e printed hereon, and was duly RECORDED in the Official Records of Denton County, Texas.
Juli Luke
y'ti asae �` County Clerk
Denton County, TX
CITY OF THE COLONY, TEXAS
ORDINANCE NO. 2026 - 2(nl.o3
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS, RELATED TO THE CITY OF THE COLONY PUBLIC
IMPROVEMENT DISTRICT NO. 1; APPROVING A SERVICE AND
ASSESSMENT PLAN UPDATE FOR FISCAL YEAR 2026-2027, INCLUDING
THE ASSESSMENT ROLL FOR THE ANNUAL FACILITY PUBLIC
IMPROVEMENTS, WATERFRONT PUBLIC IMPROVEMENTS, AND
RELATED DEVELOPMENT PUBLIC IMPROVEMENTS; MAKING A
FINDING OF SPECIAL BENEFIT TO THE FACILITY PROPERTY,
WATERFRONT PROPERTY, AND RELATED DEVELOPMENT PROPERTY
WITHIN THE DISTRICT; LEVYING SPECIAL ASSESSMENTS AND
ESTABLISHING A LIEN AGAINST SUCH PROPERTY; PROVIDING FOR
THE METHOD OF ASSESSMENT AND THE PAYMENT OF THE
ASSESSMENTS IN ACCORDANCE WITH CHAPTER 372, TEXAS LOCAL
GOVERNMENT CODE, AS AMENDED; PROVIDING PENALTIES FOR
DELINQUENT SPECIAL ASSESSMENTS; RATIFYING AND CONFIRMING
PRIOR ACTIONS RELATED TO THE DISTRICT; MAKING CERTAIN
FINDINGS AND DETERMINATIONS RELATED TO THE DISTRICT AND
SPECIAL ASSESSMENTS; PROVIDING A SEVERABILITY CLAUSE; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Chapter 372 of the Texas Local Government Code (hereinafter referred to as
the "Act") authorizes the City of The Colony, Texas (the "City"), to create a public improvement
district within the corporate limits and extraterritorial jurisdiction of the City; and
WHEREAS, on Monday, September 17, 2012, a petition (the "Petition") was submitted
and filed with the City Secretary (the "City Secretary") of the City pursuant to the Act requesting the
creation of a public improvement district within the corporate limits of the City; and
WHEREAS, the Petition contained the signatures of the owners of taxable property
representing more than fifty percent of the appraised value of taxable real property liable for
assessment within the proposed district, as determined by the then current ad valorem tax rolls of
Denton Central Appraisal District and the signatures of the property owners who owned taxable real
property that constituted more than fifty percent of the area of all taxable property within the proposed
district that is liable for assessment; and
WHEREAS, on Tuesday, September 18, 2012, the City Council for the City approved
Resolution No. 2012-067, ordering a public hearing for October 8, 2012 (hereinafter referred to as the
"Creation Public Hearing"), to consider a resolution creating the proposed district; and
WHEREAS, on or before September 22, 2012, the City Secretary mailed and caused to
be published notice of the Creation Public Hearing as required by the Act, which date was before
the 15th day before the date of the Creation Public Hearing; and
WHEREAS, after mailing, publishing, and otherwise providing all notices of the Creation
Public Hearing as required by the Act and state law, the City Council conducted the Creation
1775.016\1 103404.1
Public Hearing on October 8, 2012, at the time and place and for the purposes set forth in the
notices; and
WHEREAS, the owner of the Property within the District appeared at the Creation Public
Hearing by its representative and affirmed the owner's request to create the District (defined
below); and
WHEREAS, no one appeared at the Creation Public Hearing in opposition to the creation
of the District; and
WHEREAS, after all persons having an interest in the District were given an opportunity
to be heard in support of or in opposition to the creation of the City of The Colony, Texas Public
Improvement District No. 1 (the "District'), the City Council closed the Creation Public Hearing
on October 8, 2012, and by a majority vote of all members of the City Council adopted and
approved Resolution No. 2012-073 creating the District to include the property described by metes
and bounds on Exhibit B attached to such Resolution; and
WHEREAS, on October 9, 2012, the City Secretary caused notice of Resolution
No. 2012-073 to be published as required by the Act; whereupon the creation of the District took
effect as provided by the Act; and
WHEREAS, capitalized terms used in this Ordinance and not otherwise defined herein shall
have the meanings assigned to them in the Service and Assessment Plan (defined below); and
WHEREAS, on Tuesday, September 1, 2026, the City Council approved Resolution
No. 2026-061 that: (i) determined the costs of certain public improvements, administration and
operating costs, and supplemental services being provided for the special benefit of property within
the District (collectively, the "2026-2027 Public Improvement Cost"); (ii) approved the City of The
Colony Public Improvement District No. 1, Preliminary Annual Service and Assessment Plan
(Assessment Year October 1, 2026 to September 30, 2027), dated September 1, 2026, including a
proposed assessment roll for the 2026-2027 Public Improvement Cost, a service plan, an assessment
plan, and a form of the notice to property owners required by the Texas Property Code, as amended
(collectively, the "Preliminary 2026-2027 SAP Update"); (iii) called a public hearing (the
"Assessment Hearing") for September 1, 2026 to consider an ordinance levying assessments (the
"2026-2027Annual Assessments"); (iv) authorized and directed the City Secretary of the City to file
the proposed assessment rolls for the 2026-2027 Annual Assessments and make such assessment roll
available for public inspection; (v) authorized and directed publication of the notice of Assessment
Hearing; and (vi) authorized and directed mailing of the notice of the Assessment Hearing to owners
of property liable for assessment; and
WHEREAS, the City Secretary filed the Assessment Roll (defined below) and made the
same available for public inspection; and
WHEREAS, the City Secretary published notice of the Assessment Hearing in the Dallas
Morning News, a newspaper of general circulation within the City, before the 10t1i day before the
date of the Assessment Hearing in accordance with the Act; and
1775.016\1103404.1
WHEREAS, the City Secretary mailed notice of the Assessment Hearing to the last known
addresses of the owners of the property liable for the 2026-2027 Annual Assessments in
accordance with the Act; and
WHEREAS, the City Council opened the Assessment Hearing on September 15, 2026 at
which all persons who appeared, or requested to appear, in person or by their attorney, were given the
opportunity to contend for or contest the proposed assessment roll and the proposed 2026-2027
Annual Assessments, and to offer testimony pertinent to any issue presented on the amount of the
2026-2027 Annual Assessments, the allocation of the costs levied against the Facility Property,
Waterfront Property, and Related Development Property, the purposes of the 2026-2027 Annual
Assessments, the special benefits to the Facility Property, Waterfront Property, and Related
Development Property, and the penalties and interest on delinquent 2026-2027 Annual Assessments;
and
WHEREAS, the City Council finds and determines that the City of The Colony Public
Improvement District No. 1 Final Annual Service and Assessment Plan (Assessment Year
October 1, 2026 to September 30, 2027), including the assessment roll attached thereto as Exhibit E
(the "Assessment Roll'), dated September 15, 2026 (collectively, the "Final 2026-2027 SAP
Update", and together with the original service and assessment plan for the District and all prior
updates and amendments, the "Service and Assessment Plan"), attached hereto as Exhibit A and
incorporated herein for all purposes, should be approved and that the 2026-2027 Annual Assessments
as shown on the Assessment Roll should be levied as provided in this Ordinance and the Service and
Assessment Plan; and
WHEREAS, the City Council further finds that there were no objections or evidence
submitted to the City Secretary in opposition to the Service and Assessment Plan, the allocation of
the 2026-2027 Public Improvement Cost consisting of the "2026-27 Additional Facility Public
Improvements Cost," the "2026-27 Waterfront Public Improvements Cost," and the "2026-27 Related
Development Public Improvements Cost," (each as defined and described in the Final 2026-2027
SAP Update), the Assessment Roll, or the levy of the 2026-2027 Annual Assessments against the
Facility Property and Related Development Property, including the Waterfront Property; and
WHEREAS, the City Council closed the Assessment Hearing, and, after considering all
written and documentary evidence presented at the Assessment Hearing, including all written
comments and statements filed with the City, determined to proceed with the adoption of this
Ordinance in conformity with the requirements of the Act.
NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF THE COLONY, TEXAS, THAT:
SECTION 1 Recitals. The recitals set forth in the WHEREAS clauses of this
Ordinance are true and correct, are part of this Ordinance for all purposes, and constitute findings
and determinations of the City Council acting in its discretionary, legislative capacity.
SECTION 2 Ratification and Confirmation. The City Council has investigated and
determined and hereby ratifies and confirms that:
2.1 The matters set forth in the Petition are true and correct;
2.2 The Petition complies with all requirements of the Act and is sufficient under the
1775.016\1 103404.1
Act for all purposes including, but not limited to, the creation of the District;
2.3 The Additional Facility Public Improvements, Waterfront Public Improvements,
and Related Development Public Improvements are authorized by the Act, promote the
interests of the City, and confer a special benefit on the Facility Property, Waterfront
Property, and the Related Development Property;
2.4 The form, content, timing, and method for providing notice of the Creation Public
Hearing, and all matters related to the conduct of the Creation Public Hearing and the
adoption of Resolution No. 2012-073 creating the District were in accordance with the Act,
state law, the City Charter and the ordinances of the City;
2.5 Prior to conducting the Assessment Hearing and the adoption of this Ordinance, the
City Council determined the total cost of the Additional Facility Public Improvements,
Waterfront Public Improvements, and Related Development Public Improvements and the
City Secretary filed the proposed Assessment Roll, along with the Preliminary 2026-2027
SAP Update, and made the same available for public inspection;
2.6 The form, content, timing, and method for providing the notice of the Assessment
Hearing, and all matters related to the conduct of the Assessment Hearing were in
accordance with the Act, state law, the City Charter, and the ordinances of the City;
2.7 The City Council has provided opportunity for the owners of property liable for
the 2026-2027 Annual Assessments, and for the public at large, to appear, in person or by
their representatives, and present objections to the creation of the District and the levy of
the 2026-2027 Annual Assessments; and, no objections to the creation of the District or to
the levy of the 2026-2027 Annual Assessments against the Facility Property, Waterfront
Property, and the Related Development Property were presented at the Assessment
Hearing;
2.8 All actions taken by the City Council in connection with the District have been
taken and performed in accordance with the Act, state law, the City Charter, and the
ordinances of the City and in a regular, proper, and valid manner.
SECTION 3 Annual L7 date to Service and Assessment Plan. The Final 2026-2027
SAP Update, attached hereto as Exhibit A and incorporated as part of this Ordinance for all
purposes, is hereby accepted and approved by the City Council as the "service plan," "assessment
plan," and "assessment roll" for the District as required by Section 372.013 and 372.014 of the
Act. The Service and Assessment Plan shall be further updated by the City Council no less
frequently than annually as required by the Act and more frequently as required by the Service and
Assessment Plan. A copy of the Final 2026-2027 SAP Update is available from the City Secretary
during regular business hours and is posted on the City's website available at
https://www.thecolonytx.gov/.
SECTION 4 Assessment Roll and Method of Assessment. The Assessment Roll
attached as Exhibit E to the Final 2026-2027 SAP Update is hereby accepted and approved
pursuant to Section 372.016 of the Act as the assessment roll related to the 2026-2027 Annual
Assessments for the 2026-2027 Public Improvement Cost. The method of apportioning the 2026-
2027 Public Improvement Cost is set forth in the Final 2026-2027 SAP Update.
1775.016\1103404.1
SECTION 5. Lew and Payment of Assessments; Delinquent Assessments. The
City Council hereby levies the 2026-2027 Annual Assessments as "special assessments" under the
Act against the Facility Property, Waterfront Property, and the Related Development Property in
the amounts set forth in the Assessment Roll attached as Exhibit E to the Final 2026-2027 SAP
Update, and such Assessment Roll is incorporated herein for all purposes. The levy of the 2026-
2027 Annual Assessments shall be effective on the date of the adoption of this Ordinance and shall
be collected in accordance with the terms of the Service and Assessment Plan and the Act. The
2026-2027 Annual Assessments against the Facility Property, Waterfront Property, and the
Related Development Property in the amounts set forth in the Assessment Roll are due and payable
no later than January 31, 2027, and will be delinquent on February 1, 2027. Delinquent payment
of the 2026-2027 Annual Assessments shall be subject to the penalties, interest, procedures, and
foreclosure sales set forth in the Service and Assessment Plan, the Act, and as allowed by law.
SECTION 6. Assessment Lien. The 2026-2027 Annual Assessments against the
Facility Property, Waterfront Property, and the Related Development Property, together with
interest, the expenses of collection, and reasonable attorney's fees, if incurred, constitutes a lien
against the Facility Property, Waterfront Property, and the Related Development Property (the
"Assessment Lien"). The Assessment Lien against the Facility Property, Waterfront Property, and
the Related Development Property is effective from the date of this Ordinance and "runs with the
land." The Assessment Lien priority is established by the Act and is the personal liability of and
charge against each owner of the Facility Property, Waterfront Property, and the Related
Development Property regardless of whether such owner is named in this Ordinance. The
Assessment Lien against the Facility Property, Waterfront Property, and the Related Development
Property may be enforced by the City, including foreclosure, in the same manner that an ad
valorem tax lien is foreclosed. Any purchaser of the Facility Property, Waterfront Property, and
the Related Development Property in foreclosure takes subject to the Assessment Lien against the
Facility Property, Waterfront Property, and the Related Development Property created by the
Special Assessment.
SECTION 7. Collection and Deposit of Assessments. The City (or any other person,
entity, or governmental agency permitted by law) shall bill, collect, and immediately deposit
Assessment Revenue into a segregated operating account, the PID Operating Account for Annual
Assessments, as provided in the 2026-2027 SAP Update. The PID Operating Account for Annual
Assessments (and the sub -accounts thereof) has been created by the City and shall remain
segregated from all other funds of the City. The City shall only use the funds in the PID Operating
Account for Annual Assessments in accordance with the Service and Assessment Plan and the
Act. To the extent not inconsistent with this Ordinance, and not inconsistent with the Act or the
other laws governing public improvement districts, the provisions of the Texas Tax Code shall be
applicable to the imposition and collection of the Assessments by the City.
SECTION 8. Findings. Based on materials and information prepared by City staff
and qualified professional consultants, on testimony provided throughout the process of creating
the District and levying the 2026-2027 Annual Assessments including, but not limited to,
testimony offered at the Creation Public Hearing and Assessment Hearing, and on other
information, materials, evidence, and testimony available to or provided to the City Council for its
consideration, the City Council, acting in its discretionary, legislative capacity, hereby finds and
determines that:
8.1 The Facility Property, Waterfront Property, and the Related Development Property
are specially benefited by the Facility Public Improvements, Waterfront Public
1775.016\1103404.1
Improvements and Related Development Improvements, as applicable, in an amount that
exceeds the 2026-2027 Annual Assessments levied against the Facility Property,
Waterfront Property, and the Related Development Property;
8.2 The 2026-2027 Annual Assessments against the Facility Property, Waterfront
Property, and the Related Development Property: (i) is just and equitable; (ii) produces
substantial equality, considering the benefits received and the burdens imposed; (iii) results
in imposing equal shares of the cost of the Public Improvements on property within the
District that is similarly benefitted; and (iv) is authorized by and has been levied in
accordance with the Act, state law, City Charter, and the ordinances of the City;
8.3 The Final 2026-2027 SAP Update includes a service plan that: (i) covers a period
of at least five years, (ii) defines the annual indebtedness and projected costs of the
Additional Facility Public Improvements, Waterfront Public Improvements, Related
Development Public Improvements, and annual operation of the District, including Direct
Supplemental Services, and (iii) includes a copy of the notice form required by Section
5.014 of the Texas Property Code, as amended;
8.4 The Final 2026-2027 SAP Update includes an assessment plan as required by the
Act;
8.5 The interest and penalties on delinquent 2026-2027 Annual Assessments and
procedures in connection with the imposition and collection of the 2026-2027 Annual
Assessments should be approved and will expedite collection of such 2026-2027 Annual
Assessments in a timely manner in order to provide the services and improvements needed
and required for the District;
8.6 That all prerequisites to the fixing of the Assessment Lien against the Facility
Property, Waterfront Property, and the Related Development Property, and to the personal
liability of the real and true owner of the Facility Property, Waterfront Property, and the
Related Development Property, whether named in this Ordinance or not, have been in all
things regularly and duly performed in compliance with the Act and all other applicable
laws, ordinances, regulations, procedures, and policies; and
8.7 The 2026-2027 Annual Assessments levied against the Facility Property,
Waterfront Property, and the Related Development Property are in amounts required to pay
the cost of the Public Improvements as described in the Final 2026-2027 SAP Update.
SECTION 9. Filing in Real Property Records. The City Secretary is directed
to cause a copy of this Ordinance, including the Final 2026-2027 SAP Update with the Assessment
Roll, to be recorded in the real property records of Denton County, Texas, not later than the seventh
day after the date the City Council adopts this Ordinance approving the Final 2026-2027 SAP
Update. The City Secretary is further directed to similarly file each annual service plan update
approved by the City Council in the future not later than the seventh day after the date that the City
Council approves each annual service plan update in accordance with the Act.
SECTION ID. Posting on City Website. The City Secretary is directed to post
a copy of the Final 2026-2027 SAP Update, including a copy of the notice form required by Section
5.014 of the Texas Property Code, as amended, and the Assessment Roll, on the internet website
maintained or used by the City for the purposes of Section 26.18, Texas Tax Code, as amended,
1775.016\1103404.1
not later than the seventh day after the date the City Council adopts this Ordinance. The City
Secretary is further directed to similarly post each annual service plan update approved by the City
Council in the future not later than the seventh day after the date that the City Council approves
annual service plan update in accordance with the Act.
SECTION 11. Submission to Appraisal District. The City Council hereby
directs the City Manager, or his or her designee, to cause a copy of the Assessment Roll, in the
format required by Section 372.017(e) of the Act, to be submitted to the Denton Central Appraisal
District not later than the seventh day after the date the City Council adopts this Ordinance
approving the Final 2026-2027 SAP Update.
SECTION 12. Su lementaI Assessments Permitted. The City Council may
make supplemental assessments to correct omissions or mistakes related to the cost of the Public
Improvements and reassessments if the City Council determines that any special assessment is
excessive. The City Council may also adjust the 2026-2027 Annual Assessments downward
following each annual update to the Service and Assessment Plan.
SECTION 13. Provisions of the Act Incorporated. This Ordinance
incorporates, by reference, all provisions of the Act. In the event of any conflict between this
Ordinance and the Act, the Act shall control.
SECTION 14. Severability. If any provision, section, subsection, sentence,
clause, or phrase of this Ordinance, or the application of the same to any person or set of
circumstances is for any reason held to be unconstitutional, void, or invalid, the validity of the
remaining portions of this Ordinance or the application to other persons or sets of circumstances
shall not be affected thereby, it being the intent of the City Council that no portion hereof, or
provision or regulation contained herein shall become inoperative or fail by reason of any
unconstitutionality, voidness, or invalidity or any other portion hereof, and all provisions of this
ordinance are declared to be severable for that purpose.
SECTION 15. Effective Date. This Ordinance shall take effect, and the levy
of the 2026-2027 Annual Assessments and the terms of the Final 2026-2027 SAP Update, shall be
and become effective immediately upon passage and approval by the City Council.
[Remainder of page left blank intentionally. Execution Page and Exhibit follow. ]
1775.016\1103404.1
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS, THIS THE 15TH DAY OF SEPTEMBER 2026.
APPROVED:
THE CITY OF THE COLONY, TEXAS
Richard Boyer, Mayor
ATTEST:
CL
Tina Stewart, TRMC, CMC, City Secretary
APPROVED AS TO FORM:
STATE OF TEXAS
COUNTY OF DENTON
ACKNOWLEDGMENT
This instrument was acknowledged before me on the 15th day of September, 2026, by Richard
Boyer, Tina Stewart, and Jeffrey L. Moore, in his or her capacity as Mayor, City Secretary and City
Attorney, respectively, of the City of The Colony, Texas, a Texas home -rule municipality, on behalf
of said municipality.
goOM
Ana Lidis Alvarado
My Commission Expires
* 4/23/2029
Notary ID135512677
Notary Public, State of Texas
1775.016\1 103404.1
EXHIBIT A
FINAL 2026-2027 SAP UPDATE
177-5.016\1103404,1
City of The Colony Public Improvement District No. 1
Annual Service and Assessment Plan Update
(Assessment Year October 1, 2026 to September 30, 2027)
Approved by City Council on
September 15, 2026
1775.016\1109210.1
SECTION 1
INTRODUCTION
Unless otherwise defined, all capitalized terms used in this "City of The Colony Public
Improvement District No. 1 Annual Service and Assessment Plan Update (Assessment Year
October 1, 2026 to September 30, 2027)" (this "SAP Update") shall have the meanings set forth in
that certain City of The Colony Public Improvement District No. 1 Service and Assessment Plan,
originally approved on February 7, 2013, recorded in the real property records of Denton County,
Texas as Instrument No. 2013-20487 (the "Original Service and Assessment Plan , and as most
recently amended, restated, and consolidated on January 19, 2021 by Ordinance No. 2021-2430
adopted by the City Council approving that certain City of The Colony Public Improvement District
No. I Amended and Restated Service and Assessment Plan (the "Amended and Restated Service
and Assessment Plan," and together with the Original Service and Assessment Plan and each
annual service and assessment plan update approved by the City, referred to collectively as the
"Service and Assessment Plan"). Unless otherwise defined, all references to "Section" mean a
section of this SAP Update, and all references to "Exhibit" mean an exhibit to this SAP Update.
1.1 On October 8, 2012, the City Council of the City of The Colony, Texas (the "City Council"
and the "City") passed and approved Resolution No. 2012-073 creating The Colony Public
Improvement District No. 1 (the "District") pursuant to Chapter 372, Texas Local Government
Code, as amended (the "Act"). The District includes within its boundaries approximately 439.12
contiguous acres located within the corporate limits of the City south of and adjacent to the Sam
Rayburn Tollway (State Highway 121), north of and adjacent to Plano Parkway, and west of Spring
Creek Parkway which property is described by metes and bounds on Exhibit A and depicted on
Exhibit A-1 (the "Pro e ").
1.2 The Act governs the process by which the Public Improvements Cost is allocated to and
assessed against the Property. This process requires the preparation of an ongoing service plan (a
"Service Plan"), an assessment plan (an "Assessment Plan"), and an assessment roll (an
"Assessment Roll").
1.3 The Act requires the preparation, and the presentment to, and review and approval by, the
City Council, of a Service Plan that must: (1) cover a period of at least five years; (2) define the
annual indebtedness and projected costs of the Public Improvements; and (3) include a copy of the
notice form required by Section 5.014 of the Texas Property Code, as amended. The Service Plan
must be reviewed and updated at least annually to determine the annual budget for the Public
Improvements. The City Council may approve the Service Plan only by Ordinance; and, upon
approval, a copy of the Service Plan must be filed with the County Clerk of Denton County, Texas,
the County in which all of the District is located, not later than the seventh (71h) day after the date
of such approval. The Service Plan is contained in Section 4.
1.4 The Act requires the Service Plan to include an Assessment Plan. The Assessment Plan
assesses the Public Improvements Cost against the Property on the basis of the special benefits
conferred upon the Property by the Public Improvements. The Public Improvements Cost may be
assessed in any manner that results in imposing equal shares of the cost on Parcels similarly
benefited. The special benefit of the Public Improvements is being apportioned by this Service and
Assessment Plan to the Property in the amount of the Public Improvements Cost. The Assessment
Plan is contained in Section S.
The Colony Public Improvement District No. l Annual Service and Assessment Plan Update - Page 2
1775.016\1109210.1
1.5 The Act also requires the City Council to review and update the Service Plan annually for
the purpose of determining the annual budget for the Public Improvements. The annual budget for
the Public Improvements is contained in Section 6. The Act states that the Service Plan may be
amended or updated only by Ordinance. Upon approval of an amendment or update of the Service
Plan, including the notice form required by Section 5.014 of the Texas Property Code, as amended,
the City Council shall file a copy of the amended or updated Service Plan with the County Clerk
of Denton County, Texas, the County in which all of the District is located, not later than the
seventh (7th) day after the date of such approval.
1.6 The Act requires the preparation of an Assessment Roll after the total Public Improvements
Cost has been determined. The Assessment Roll must state the assessment against each Parcel
determined by the method of assessment chosen by the City Council in the Assessment Plan. The
assessment against a Parcel must be sufficient to pay the share of the Public Improvements Cost
allocated to the Parcel and cannot exceed the special benefit conferred upon the Parcel. The
Assessment Roll is contained in Section 7.
1.7 A summary of the chronological history of City Council actions for the District is attached
as Exhibit F.
SECTION 2
2013 FACILITY PUBLIC IMPROVEMENTS
2.1 The Assessment Roll attached as Exhibit E identifies the "Facility Pro ert " by legal
description and tax parcel identification number assigned by the Denton Central Appraisal District
("Denton CAD"). The Facility Property is the portion of the Property developed with a mixed-use
facility which includes approximately 1,280,000 square feet for warehouse and distribution uses,
approximately 25,000 square feet for a regional corporate headquarters, approximately 546,000
square feet for retail sales to the general public and surface and structured parking (collectively,
the "Facility"). The development of the Facility Property required construction of the 2013 Public
Improvements that specially benefit the Facility Property.
2.2. In connection with the 2013 Project Infrastructure Bonds to finance a portion of the costs
of the 2013 Public Improvements, the City approved the Original Service and Assessment Plan for
the District by adopting the 2013 Assessment Ordinance on February 7, 2013. The 2013
Assessment Ordinance levied an Assessment in the amount of $83,400,000.00 (the "2013 Facili
Public Improvement Assessment") against the Facility Property for the portion of the 2013 Public
Improvements Cost that the City Council determined conferred a special benefit on the Facility
Property. As authorized by the Act, the 2013 Assessment Ordinance deferred the assessment of
the remainder of the 2013 Public Improvements Cost in the amount of $11,400,000.00 for the
portion of the 2013 Public Improvements that specially benefit the Related Development Property
(the "2013 Related Development Deferred Assessment") until the portion of the Related
Development Property that is specially benefited by the 2013 Public Improvements could be
identified. The 2013 Assessment Ordinance also deferred the assessment of the Related
Development Public Improvements Cost against the Related Development Property until the
portion(s) of the Related Development Property that are specially benefited by the Related
Development Public Improvements could be identified. As described below, the City has levied
and intends to continue levying Additional Facility Assessments against the Facility Property for
costs of Additional Facility Public Improvements (that do not include the 2013 Public
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 3
1775.016U 109210.1
Improvements) and has levied and intends to continue levying Assessments against the Related
Development Property for a portion of the costs of the Related Development Public Improvements
(that do not include the 2013 Public Improvements).
2.3 The 2013 Facility Public Improvements have been constructed by or on behalf of the
Corporations using, in part, the net proceeds of the 2013 Project Infrastructure Bonds. The 2013
Facility Public Improvements fall into the following categories: (i) water, wastewater, and
drainage facilities or improvements, including sanitary sewer facilities, storm water detention and
retention facilities, and utility relocations related to such improvements; (ii) street and roadway
improvements, including related traffic signalization, signage, sidewalks, curbs, gutters,
streetscape, landscaping, drainage improvements, and utility relocations related to such street and
roadway improvements; (iii) mass transit facilities; (iv) park improvements, (v) landscaping; (vi)
lighting and signage; (vii) pedestrian malls; and (viii) site improvements for any of the foregoing,
including, but not limited to, grading, erosion control, wetlands mitigation, and floodplain
reclamation. The 2013 Public Improvements are more particularly described in the engineering
report titled PUBLIC IMPROVEMENTS REPORT, The City of The Colony Public Improvement
District No. 1, The Colony, Texas dated November 30, 2012, prepared by Graham Associates, Inc.
(the "2013 Official Report"), a copy of which report is attached as Exhibit B to the Original Service
and Assessment Plan. All 2013 Facility Public Improvements, and portions of the Property on
which the 2013 Facility Public Improvements have been constructed, will remain owned by the
City.
2.4 The 2013 Facility Public Improvement Assessment was pledged, on a pro -rata basis (based
on the par amount of each series of 2013 Project Infrastructure Bonds issued as a percentage of
the total par amount of all 2013 Project Infrastructure Bonds), as additional security for each series
of 2013 Project Infrastructure Bonds in the event of a Debt Service Shortfall. Assessment Revenue
generated from the 2013 Facility Public Improvement Assessment, if collected by the City in the
event of Debt Service Shortfall, that is pledged to pay Debt Service Shortfall for any one series of
the 2013 Project Infrastructure Bonds is not pledged to pay Debt Service Shortfalls for any other
series of 2013 Project Infrastructure Bonds. In connection with each series of 2013 Project
Infrastructure Bonds, each respective issuer of the 2013 Project Infrastructure Bonds entered into
a reimbursement agreement relating to each respective series of 2013 Project Infrastructure Bonds
(such agreements are referred to collectively as the "2013 Reimbursement Agreements"). On
January 19, 2021, the City issued its 2021 LGC Tax Refunding Bonds that refunded all of the
outstanding 2013 LGC Tax Bonds; and, the City entered into a 2021 LGC Tax Refunding Bonds
Reimbursement Agreement relating to the 2021 LGC Tax Refunding Bonds. The 2021 LGC Tax
Refunding Bonds Reimbursement Agreement pledged the portion of the 2013 Facility Public
Improvement Assessments previously allocated to the 2013 LGC Tax Bonds to the 2021 LGC Tax
Refunding Bonds and replaced the 2013 LGC Tax Bonds Reimbursement Agreement in its
entirety. Public Improvement Bonds secured in whole or in part by Assessments levied against
Property in the District as additional security in the event of a Debt Service Shortfall, including
the 2013 Project Infrastructure Bonds (but excluding the 2013 LGC Tax Bonds which were
refunded by the 2021 LGC Tax Refunding Bonds) and the 2021 LGC Tax Refunding Bonds, are
referred to collectively as "Pro'ect Infrastructure Bonds." The 2013 Reimbursement Agreements
together with the 2021 LGC Tax Bonds Reimbursement Agreement are referred to collectively as
the "Reimbursement A reements." Assessment Revenue from the 2013 Facility Public
Improvement Assessment levied against the Facility Property as additional security for any series
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of Project Infrastructure Bonds will be collected in the event of a Debt Service Shortfall in Semi -
Annual Installments and deposited into the PID Operating Account as described below in Section
5_9 below.
SECTION 3
ADDITIONAL FACILITY IMPROVEMENTS AND
RELATED DEVELOPMENT IMPROVEMENTS
3.1 In addition to the 2013 Facility Public Improvement Assessment, the City has levied and
will continue to levy Assessments (the "Additional Facifily Assessments") unrelated to Project
Infrastructure Bonds or the 2013 Public Improvements against the Facility Property for
"Additional Facility Public Improvements" that fall into the following categories: (i) water,
wastewater, and drainage facilities or improvements, including sanitary sewer facilities, storm
water detention and retention facilities, and utility relocations related to such improvements;
(ii) street and roadway improvements, including related traffic signalization, signage, sidewalks,
curbs, gutters, streetscape, landscaping, drainage improvements, and utility relocations related to
such street and roadway improvements; (iii) mass transit facilities; (iv) park improvements, (v)
landscaping; (vi) lighting and signage; (vii) pedestrian malls; (viii) site improvements for any of
the foregoing, including, but not limited to, grading, erosion control, wetlands mitigation, and
floodplain reclamation; (ix) special supplemental services for improvement and promotion of the
District, including services relating to advertising, promotion, health and sanitation, water and
wastewater, public safety, security, business recruitment, development, recreation, and cultural
enhancement; and (x) payment of expenses incurred in the administration and operation of the
District. The Additional Facility Public Improvements for which Assessments have been
previously levied are more particularly described in the special benefits reports attached to each
Annual Service Plan Update described and defined in Exhibit F and in this Section 3 of this SAP
Update. The Additional Facility Assessments have not been and will not be pledged as security for
any series of Project Infrastructure Bonds. The Creation Resolution establishes a cap on the amount
of total costs for which Assessments may be levied against the Facility Property and in no event
shall the total amount of Assessments levied against the Facility Property for the 2013 Public
Improvements and the Additional Facility Public Improvements exceed $150,000,000.
3.2 As described above in Section 2.2, the City deferred the 2013 Related Development
Deferred Assessment for the remainder of the 2013 Public Improvements Cost in the amount of
$11,400,000.00 for the portion of the 2013 Public Improvements that specially benefit the Related
Development Property until the portion of the Related Development Property that is specially
benefited by the 2013 Public Improvements could be identified. The City has levied, and intends
to continue levying, additional Assessments against the Related Development Property for the
remaining Related Development Public Improvements Cost (that do not include the 2013 Public
Improvements) as portions of the Related Development Property that are specially benefited by
the Related Development Public Improvements are developed. The costs of certain Related
Development Public Improvements and the method of allocation of such costs based on the benefit
conferred by such Related Development Public Improvements are included in this SAP Update;
and, additional information for the Related Development Public Improvements will be included in
fixture updates to the Service and Assessment plan as development progresses.
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3.3 The Related Development Public Improvements fall into the same categories as the 2013
Facility Public Improvements plus: (i) off street structured and surface parking facilities, (ii)
special supplemental services for improvement and promotion of the District, including services
relating to advertising, promotion, health and sanitation, water and wastewater, public safety,
security, business recruitment, development, recreation, and cultural enhancement; and (iii)
payment of expenses incurred in the administration and operation of the District.
3.4 Portions of the Related Development Property remain undeveloped, while other portions
are under development or fully developed. Portions of the Property will be developed with
additional mixed-use facilities including, but not limited to, entertainment, tourism, recreation, and
convention facilities that will attract tourists, visitors, and shoppers from a wide geographic region,
and hotels, retail stores, concessions, restaurants, and other facilities related to the entertainment,
tourism, recreation, and convention uses (collectively, the "Related Development"). The
Assessment Roll attached as Exhibit E identifies the "Related Development Property" by legal
description and DCAD tax parcel identification number. Certain public improvements (the
"Related Development Public Improvements") are or will be required to serve the Related
Development Property. The Assessment Roll attached as Exhibit E also identifies the "Waterfront
Pro e that is the portion of the Property developed with a boardwalk and related amenities (the
"Waterfront"), including public improvements required to serve the Waterfront (the "Waterfront
Public Im rovements", and together with the Related Development Public Improvements referred
to collectively as the "Annual Related Develo ment Public Improvements").
3.5 All Additional Facility Public Improvements and Annual Related Development Public
Improvements, and portions of the Property on which such Additional Facility Public
Improvements and Annual Related Development Improvements are constructed, will remain
owned by the City.
3.6 The annual costs for the Additional Facility Public Improvements, Waterfront Public
Improvements and Related Development Public Improvements are estimated in the Official Report
for the 2026-27 Public Improvements Cost attached as Exhibit B. The total cost of the Additional
Facility Public Improvements is estimated to be $593,849.52 (the "2026-27 Additional Facility
Public Improvements Cost") as shown on Exhibit B. The annual total cost of the Waterfront Public
Improvements is estimated to be $41,049.49 (the "2026-27 Waterfront Public Improvements
Cost") as shown on Exhibit B. The annual total cost of the Related Development Public
Improvements is estimated to be $441,388.84 (the "2026-27 Related Development Public
Improvements Cost") as shown on Exhibit B. The individual line item costs shown in the Official
Report for each category of Additional Facility Public Improvements and Annual Related
Development Public Improvements are estimates and may vary item -to -item so long as the cost of
all Public Improvements does not exceed $1,076,287.84. The 2026-27 Additional Facility Public
Improvements Cost, 2026-27 Waterfront Public Improvements Cost, and 2026-27 Related
Development Public Improvements Cost are sometimes referred to collectively as the "2026-27
Public Im rovements Cost." A reconciliation of the 2025-26 Public Improvement Costs yielded a
$366,197.00 surplus. To provide operations funding during the lag period between the budget
commencement and the annual assessment collection, $265,386.04 (90 days of operating costs)
was allocated to a "Pre -paid Expense" line item. An additional $13,140.00 is added to the total
assessment to recover costs from parcel -specific services ('Direct Supplemental Services") as
described in Exhibit D. The total sum of the 2026-27 Public Improvements Cost ($1,076,287.84),
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the 90 days of operating costs reserve ($265,386.04), and the parcel specific Direct Supplemental
Services ($13,140.00) brings the overall 2026-27 costs to $1,354,813.89. The 2025-26 surplus of
$366,197.00 was allocated proportionately to reduce the 2026-27 Assessment from $1,354,813.89
to $988,616.89.
3.7 Assessments levied against the Facility Property, Related Development Property, or
Waterfront Property for costs of the Additional Facility Public Improvements and Annual Related
Development Public Improvements, as applicable, that are not pledged as security for Project
Infrastructure Bonds shall be updated annually and shall be collected as described below in
Section 5.10 and shall be deposited into a sub -account of the PID Operating Account and used
solely for the purposes determined by the City Council at the time the Assessments are levied.
SECTION 4
SERVICE PLAN
4.1 This Section 4 is the Service Plan for the District. This Service Plan covers a period of at
least five (5) years beginning with calendar year 2026 and defines the projected cost and annual
indebtedness for the Public Improvements. The Service Plan shall be reviewed and updated at least
annually for the purpose of determining the annual budget for the Public Improvements (each
update, a "Service Plan Update").
4.2 As confirmed by the 2021 City Ordinance, the actual costs for the 2013 Public
Improvements exceeded the estimated 2013 Public Improvements Cost of $94,800,000.00
described in the Original Service and Assessment Plan, the 2013 Official Report, and 2013 Special
Benefit Report. The annual indebtedness for the 2013 Public Improvements for the next five years
is shown on Exhibit C-1. The annual indebtedness for the 2013 Public Improvements Cost in any
given year is the sum of the Semi -Annual Installments for the Project Infrastructure Bonds for the
year.
4.3 The projected Additional Facility Public Improvements Cost is $593,849.52, and for the
next five years is allocated as shown on Exhibit C-2. The annual indebtedness for the Additional
Facility Public Improvements shown on Exhibit C-2 is a portion of the Additional Facility
Assessment the City has levied or expects to levy against the Facility Property for each year shown.
The Additional Facility Assessment will also include costs related to the 90 days of operating
reserve apportioned to the Facility Property as well as any Direct Supplemental Services
apportioned to the Facility Property and will be adjusted by application of a portion of any prior
year's surplus or deficit; all of which will be described in Exhibit D and will be updated each year.
4.4 The projected costs for the Annual Related Development Public Improvements are
$4,82,438.32 and for the next five years such cost is allocated as shown on Exhibit C-3. The
annual indebtedness for the Annual Related Development Public Improvements is a portion of the
Assessments the City has levied or expects to levy against the Waterfront Property and Related
Development Property for each year shown. The Assessments levied against the Waterfront
Property and Related Development Property will also include costs related to the 90 days of
operating reserve apportioned to the Waterfront Property and Related Development Property as
well as any Direct Supplemental Services apportioned to the Waterfront Property and Related
Development Property and will be adjusted by application of a portion of any prior year's surplus
or deficit which will be described in Exhibit D and will be updated each year.
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4.5 The form of notice required by Texas Property Code Section 5.014, as amended, is attached
as Exhibit C-4.
SECTION 5
ASSESSMENT PLAN
5.1 Method of Assessment. This Section 5 is the Assessment Plan for the District. This
Assessment Plan assesses the Public Improvements Cost against the Property on the basis of the
special benefits conferred on the Property by the Public Improvements. The Act provides that the
Public Improvements Cost may be assessed equally per front foot or square foot (with or without
regard to the value of improvements constructed on the land) or in any other manner that results
in imposing equal shares of the cost on property similarly benefited.
5.2 Best and Highest Use. Based on: (i) the size and location of the Property within the
corporate limits of the City; (ii) the lack of public infrastructure to serve development of the
Property; (iii) the proximity of the Property to public roadways and water and sewer facilities; (iv)
the proximity of the Property to population and employment centers; (v) the scope and economic
impact of the Facility, the Waterfront and the Related Development on the City, Denton County;
and the north Texas region; (vi) existing and projected land uses in the vicinity of the Property;
(vii) projected growth in the greater Dallas metropolitan area and, in particular, along the State
Highway 121 corridor; and (viii) the quality of the proposed development within the Property, the
City Council has determined that: (A) the best and highest use of the Property is for the
development of the Facility, the Waterfront, and the Related Development; (B) achieving the best
and highest use of the Property requires the Public Improvements; (C) without the Public
Improvements the Property will not be developed to its best and highest use; (D) the establishment
of the District provides an effective means of funding the Public Improvements to achieve the best
and highest use for the Property without financial burden to the City; and (E) the Public
Improvements will promote the interests of the City and confer a special benefit on the Property.
5.3 Assessments Against Facility Prop. As described in Section 2.2 above, the City has
levied the 2013 Facility Public Improvement Assessment in the amount of $83,400,000.00 against
the Facility Property for the portion of the 2013 Public Improvements Cost that the City Council
determined conferred a special benefit on the Facility Property. Based on the costs shown in the
Official Report for the 2026-27 Public Improvements attached as Exhibit B and the Special
Benefits Report attached as Exhibit D, the City has levied $558,051.73 in Assessments against the
Facility Property as shown on the Assessment Roll attached as Exhibit E which consists of
$593,849.52 for the 2026-27 Additional Facility Public Improvements Costs plus $94,948.88 or
approximately 35.78% of the 90 days of operating costs plus $270 in specific Direct Supplemental
Services minus $131,016.67 or approximately 35.78% of the 2025-26 surplus described in
Section 3.6 above apportioned to the Facility Property based on the benefit analysis described in
Exhibit D. As the Facility Property is specially benefitted by Additional Facility Improvements,
the City intends to continue to levy Assessments against the Facility Property. The Creation
Resolution establishes a cap on the total costs for which Assessments may be levied against the
Facility Property and in no event shall the total amount of Assessments levied against the Facility
Property for the 2013 Public Improvements and the Additional Facility Public Improvements
exceed $150,000,000. As shown in Paragraphs 1 and 2 of Section 7 below, a total of
$93,069,955.66 has been levied against the Facility Property, consisting of $83,400,000.00 for the
2013 Public Improvements and $9,669,955.66 for the Additional Facility Public Improvements.
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5.4 Assessments Against Related Development ProRL*. As described in Section 2.2 above,
the City deferred assessment of the remainder of the 2013 Public Improvements Cost in the amount
of $11,400,000.00 for the portion of the 2013 Public Improvements that specially benefit the
Related Development Property (the "2013 Related Development Deferred Assessment") until the
portion of the Related Development Property (which included the Waterfront Property at the time
of the deferral) that is specially benefited by the 2013 Public Improvements could be identified.
The deferral of the levy of the 2013 Related Development Deferred Assessment in the amount of
$11,400,000.00 under the 2013 Assessment Ordinance is hereby restated and shall be deferred
until the development of the Property is certified as complete by the owner.
Based on the costs shown in the Official Report for the 2026-27 Public Improvements attached as
Exhibit B and the Special Benefits Report attached as Exhibit D, the City has levied Assessments
in the amount of $36,080.65 (as shown on Exhibit E, the "2026 Waterfront Assessment") against
the Waterfront Property consisting of $41,049.49 for the costs of 2026-27 Waterfront Public
Improvements plus $14,502.08 or approximately 5.46% of the 90 days of operating costs plus
$540 in specific Direct Supplemental Services minus $20,010.92 or approximately 5.46% of
the 2026-27 surplus described in Section 3.6 above apportioned to the Waterfront Property based
on the benefit analysis described in Exhibit D. Based on the costs shown in the Official Report for
the 2026-27 Public Improvements attached as Exhibit B and the Special Benefits Report attached
as Exhibit D, the City has levied Assessments in the amount of $394,484.50 (as shown on
Exhibit E, the "2026 Related Development Assessment") against the Related Development
Property consisting of $441,388.84 for the costs of 2026-27 Related Development Public
Improvements plus $155,935.09 or approximately 58.76% of the 90 days of operating costs plus
$12,330.00 in specific Direct Supplemental Services minus $215,169.42 or approximately 58.76%
of the 2025-26 surplus described in Section 3.6 above apportioned to the Related Development
Property based on the benefit analysis described in Exhibit D.
As portions of the Waterfront Property that are specially benefited by the Waterfront Public
Improvements are developed and as portions of the Related Development Property that are
specially benefited by the Related Development Public Improvements are developed, the City
intends to continue to levy additional Assessments against the Waterfront Property and the Related
Development Property, as applicable, for the remaining Waterfront Pubic Improvements Costs and
the Related Development Public Improvements Costs (and that do not include the 2013 Public
Improvements) as described in Section 3.2 above. The Creation Resolution establishes a cap of
$150,000,000 of the total costs for which Assessments may be levied for the "Related
Improvements Costs (as defined in the Creation Resolution). As shown in Paragraph 3 of
Section 7 below, a total of $6,696,330.57 has been levied for the Annual Related Development
Public Improvements (consisting of the Waterfront Public Improvements and Related
Development Public Improvements) which does NOT include the 2013 Related Development
Deferred Assessment in the amount of $11,400,000.00.
5.5 Adiustment of Assessments. With the exception of the 2013 Facility Public Improvement
Assessment, the Assessments described in this Section 5 are based on estimates of the Public
Improvement Costs until construction of the Public Improvements, or provision of services if
applicable, is complete. If the actual cost of the Public Improvements is less than the estimates,
the Assessments shall be reduced as determined by the Administrator and approved by the City
Council in a Service Plan Update.
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5.6 Subdivision; Chane to Tax Exempt.
5.6.1 Upon Subdivision. If the Facility Property is subdivided, any Assessment levied
against the Facility Property shall be reallocated as described in Section 4.6.1 of the Service
and Assessment Plan. Additionally, other than annual Assessments for the Annual Related
Development Public Improvements that are not pledged as security to any series of PID
bonds, any Assessment against Related Development Property will not be reallocated
among subdivided Parcels until the development of the Related Development Property is
certified as complete by the owner. If the Related Development Property or Waterfront
Property is subdivided, the annual Assessment levied against Related Development
Property or Waterfront Property under this SAP Update for the Annual Related
Development Public Improvements will be reallocated among the subdivided Parcels on a
per -acre basis as determined by the Administrator and reflected in a Service Plan Update
approved by the City Council after a public hearing for which notice addressed to "Property
Owner" has been mailed, regular mail, to the current address of the owner of the property
being subdivided as reflected on the tax rolls.
5.6.2 Upon Becoming Tax Exem t. If any portion of the Facility Property becomes
exempt from the payment of ad valorem taxes, the owner of such portion shall pay to the
City the unpaid principal amount of the Assessment allocated (on a per -acre basis) to such
portion of the Facility Property plus, if applicable, accrued interest through the date of
payment. Prepayment Costs, if any, shall be paid as a Semi -Annual Administrative Cost.
If any portion of the Related Development Property or Waterfront Property becomes
exempt from the payment of ad valorem taxes, the owner of such portion shall pay to the
City the unpaid principal amount of the Assessment allocated (on a per -acre basis) to such
portion of the Property.
5.7 Prepayment of Assessments. The unpaid principal amount of an Assessment may be
prepaid in full or in part at any time, together with accrued interest, if any, through the date of
prepayment; whereupon the Assessment and corresponding assessment lien automatically
terminate and shall be reduced to zero in a Service Plan Update. Prepayment Costs, if any, may be
paid by the Administrator from Semi -Annual Administrative Cost.
5.8 Accrual of Interest. Assessments shall not bear interest except for interest authorized by
Section 372.018(a) of the Act. Assessments that are deferred may bear interest as approved by the
City Council at the time the Assessments are levied.
5.9 Semi -Annual Installments of Assessments Related to Project Infrastructure Bonds.
Assessments levied against the Facility Property and/or the Related Development Property and
pledged as security to any series of Project Infrastructure Bonds, including the 2013 Facility Public
Improvement Assessment securing the 2013 Project Infrastructure Bonds and 2021 LGC Tax
Refunding Bonds, shall be due and payable to the City in Semi -Annual Installments as set forth in
the applicable Reimbursement Agreement beginning on the date stated in the applicable
Reimbursement Agreement and continuing every March 1 and September 1 thereafter and will be
delinquent if not paid within three calendar days after it is due and payable. Semi -Annual
Installments are not required to be level amounts and will vary depending on Semi -Annual District
Expenses and the amounts, if any, of Debt Service Shortfalls. For so long as any Project
Infrastructure Bonds remain outstanding, each of the Corporations, pursuant to a Reimbursement
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Agreement, is required to calculate its respective Debt Service Shortfall amount for each bond
issue based on the 'Bond Debt Service" schedules attached as Exhibit E-1, and each Corporation
shall certify such Debt Service Shortfall amount to the City no later than each February 1 or
August 1, commencing August 1, 2013 (each a "Semi -Annual Calculation Date"). Upon
notification of each Debt Service Shortfall amount due for each bond issue, the City shall calculate
the amount of the Semi -Annual Installment and shall submit a bill to each property owner no later
than each February 15 and August 15 (each a "Semi -Annual Billing -Date"). The City will use all
reasonable efforts to collect Semi -Annual Installments before they become delinquent. If a Semi -
Annual Installment becomes delinquent, all remedies at law or under the Act shall be available to
the City. If a Debt Service Shortfall is anticipated for more than one series of Project Infrastructure
Bonds, a portion of the funds in the PID Operating Account shall be transferred on a pro -rata basis
to separate sub -accounts corresponding to each issue of Project Infrastructure Bonds for which a
Debt Service Shortfall is anticipated to occur; and, such amounts shall be paid by the City from
such sub -accounts to each of the Corporations under the applicable Reimbursement Agreement to
pay Debt Service Shortfalls for the applicable series of Project Infrastructure Bonds. As required
under each respective Reimbursement Agreement, each Corporation calculated any anticipated
Debt Service Shortfall based on the Bond Debt Service schedules no later than February 1, 2026
and August 1, 2026; and, each Corporation determined there would be no Debt Service Shortfall
and no Semi -Annual Installments were required to be paid for calendar year 2026.
5.10 Annual Payment of Assessments Not Related to Project Infrastructure Bonds. Assessments
levied against the Facility Property or the Related Development Property for costs of the
Additional Facility Public Improvements or the Related Development Public Improvements that
are not pledged as security for Project Infrastructure Bonds shall be updated annually and shall be
collected by the City in the same manner and at the same time as ad valorem taxes in the amount
shown on the Assessment Rolls attached to each Annual Service Plan Update. Such Assessments
shall be due when billed and shall be delinquent if not paid prior to February 1 of the following
year. Failure of a landowner to receive an invoice for such Assessment on the property tax bill
shall not relieve the landowner of the responsibility for payment of the Assessment. Assessment
Revenue collected by the City from Assessments levied against the Facility Property or the Related
Development Property for Additional Facility Public Improvements and/or Related Development
Public Improvements based on the special benefit conferred by such Additional Facility Public
Improvements or the Related Development Public Improvements that is not pledged as security
for any series of Project Infrastructure Bonds and shall be deposited into a sub -account of the PID
Operating Account and used solely for the purposes determined by the City Council at the time
the Assessments are levied.
5.11 PID Operating Account. Assessment Revenue from the collection of Semi -Annual
Installments of an Assessment against the Facility Property and/or Related Development Property
in connection with the issuance of a series of Project Infrastructure Bonds will be deposited by the
City into the PID Operating Account, including sub -accounts corresponding to each issue of
Project Infrastructure Bonds, as applicable, immediately upon receipt and will be transferred by
the City to the respective Corporations, or to the applicable trustee(s) for the benefit of such
Corporations, to pay Debt Service Shortfalls, if any, by September 5, 2013, and by each March 5
and September 5 thereafter for so long as Project Infrastructure Bonds are outstanding. Assessment
Revenue from the collection of an Assessment against the Facility Property and/or Related
Development Property unrelated to the issuance of a series of Project Infrastructure Bonds will be
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deposited by the City into the PID Operating Account, including sub -accounts as applicable,
immediately upon receipt and shall be used solely for the purposes determined by the City Council
at the time such Assessments were levied. Any Assessment Revenue due to the Corporations on
any such date but collected by the City after the due date shall be transferred to the respective
Corporations or applicable trustee(s) within two business days. Assessment Revenue from the
collection of any Assessment against the Property will be deposited by the City into the PID
Operating Account for Annual Assessments. Assessment Revenue from the 2026 Related
Development Assessment against all or any portion of the Property will be collected in lump sum
within 30 days of the levy of the assessment or with the annual property tax collection and
deposited into a segregated operating account (the "PID ORerating Account for Annual
Assessments") created and controlled by the City. Interest earned on the PID Operating Account
for Annual Assessments shall be added to and become part of the PID Operating Account for
Annual Assessments. The PID Operating Account for Annual Assessments is a separate account
and segregated from the "PID Operating Account" described in the Service and Assessment Plan
that was created pursuant to the 2013 Assessment Ordinance (such account is referred to herein as
the "PID Operating Account for Pledged Revenues.") All Assessment Revenue from the 2013
Facility Public Improvement Assessment and the 2013 Related Development Deferred Assessment
levied pursuant to Ordinance No. 2013-1992 shall be deposited into the PID Operating Account
for Pledged Revenues and transferred from that account, if at all, consistent with the requirements
of 2013 Assessment Ordinance and the trust indentures governing the Project Infrastructure Bonds.
All Assessment Revenue from any Assessment levied on an annual basis shall be deposited into
the PID Operating Account for Annual Assessments and used solely for the purposes determined
by the City Council at the time the Assessments are levied.
5.12 Reduction of Assessment Against the Property. The Assessment against the Facility
Property (and the corresponding assessment lien) shall be reduced by the sum of all amounts by
which the outstanding principal of the Project Infrastructure Bonds for which the PID Operating
Account is pledged, as additional security, are reduced and by sum of all prepayments of the
Assessment made pursuant to Section 5.7. The current outstanding principal amount of the
Assessments levied against the Facility Property based on the debt service schedules related to the
Project Infrastructure Bonds attached as Exhibit E-1 is set forth in Section 7 below. The
Assessment against the Property (and the corresponding assessment lien) shall be reduced by the
sum of all amounts by which the Public Improvement Costs are reduced.
5.13 Security for Payment. All payments due in accordance with the Service and Assessment
Plan as updated by this SAP Update shall be treated the same with respect to the liens created to
secure payment and the rights of the City, including foreclosure, in the event of delinquencies.
Any foreclosure sale of a Parcel for nonpayment of any such amounts shall be subject to a
continuing lien for the remaining unpaid amounts in accordance with state law. All assessment
liens created pursuant to the 2013 Assessment Ordinance are superior to any lien created by any
other ordinance approving an Annual Service Plan Update, including this SAP Update.
5.14 Release of Lien. When an Assessment has been paid in full, the Administrator shall notify
the City, and the City shall execute a release, in recordable form, evidencing full payment of the
Assessment and the unconditional release of the lien securing payment of the Assessment. All
releases shall be reflected in a Service Plan Update.
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5.15 Findings and Determinations. The findings and determinations by the City Council set forth
in this Service and Assessment Plan are based on: (i) the 2013 Official Report prepared by Graham
Associates, Inc.; (ii) the 2013 Special Benefit Report prepared by Graham Associates, Inc.; (iii)
evidence and testimony presented to the City Council; and (iv) information made available to the
City Council. The City Council hereby confirms and ratifies the findings and determinations made
by the City Council in each of the Assessment Ordinances described and defined in Exhibit F,
including the special benefits reports and annual service plan updates attached thereto. The City
Council has relied on the information contained in the 2013 Official Report, 2013 Special Benefit
Report, the reports and special benefit analysis contained in each Annual Service Plan Update,
evidence, and testimony in the preparation and approval of this Service and Assessment Plan and
the allocation of the Public Improvements Cost to the Property. Such findings and determinations
represent the discretionary exercise by the City Council of its legislative and governmental
authority and power, and such findings and determinations are conclusive and binding on the
current and future owners of the Property. The Corporations have concurred in and approved the
findings and determinations by the City Council as set forth in this Service and Assessment Plan
and have otherwise concurred in and approved this Service and Assessment Plan and the levy of
Assessments against the Property. The Corporations have acknowledged that the Property is
subject to payment of Assessments and/or Semi -Annual Installments as provided in this Service
and Assessment Plan and in the Reimbursement Agreements.
SECTION 6
ANNUAL BUDGET FOR PUBLIC IMPROVEMENTS
6.1 2413 Public Improvements Costs. On January 19, 2021, the City approved Ordinance No.
2021-2430 (the "2021 Ci Ordinance"), approving the Amended and Restated Service and
Assessment Plan and making certain finding and determinations related to the District. In the 2021
City Ordinance, the City Council ratified and confirmed the allocation of the 2013 Public
Improvements Cost approved by the 2013 Assessment Ordinance and Original Service and
Assessment Plan as follows: (1) $83,400,000 for the special benefit to the Facility Property for
which the 2013 Facility Public Improvement Assessment was levied, and (2) $11,400,000.00 for
the benefit to the Related Development Property for which the 2013 Related Development
Deferred Assessment has been deferred. Additionally, the 2021 City Ordinance confirmed that the
actual costs for the 2013 Public Improvements exceeded the estimated 2013 Public Improvements
Cost of $94,800,000.00 described in the Original Service and Assessment Plan, the 2013 Official
Report, and 2013 Special Benefit Report.
6.2 2026 Public Improvements Cost. The City Council has received, reviewed, and approved
that certain SPECIAL BENEFITS REPORT, The City of The Colony Public Improvement District
No. 1, The Colony, Texas, dated September 1, 2026, prepared by Executive Business Liaison
Jeremie Maurina, a copy of which is attached as Exhibit D (the "2026-27 Special Benefits
Report"). The individual line item costs shown in the 2026-2027 Special Benefits Report for each
category of improvements are estimates and may vary item -to -item so long as the Public
Improvements Cost does not exceed $1,076,287.84 (which does not include the $265,386.04 for 90
days of operating costs plus $13,140 for Direct Supplemental Services minus the 2025-26 surplus
in the amount of $366,197).
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 13
1775.016\1109210.1
SECTION 7
ASSESSMENT ROLL
This Section 7 describes the Assessment Roll for the District. The Assessment Roll is set
forth on Exhibit E and consists of:
1. The 2013 Facility Public Improvement Assessment originally levied in principal
amount of $83,400,000.00 by the 2013 Assessment Ordinance has an outstanding principal amount
of $68,190,642.53 as of December 31, 2026. The 2013 Facility Public Improvement Assessment
is allocated as follows among the Project Infrastructure Bonds:
(1) Pro -rata allocation of the original principal amount of the $83,400,000 2013 Facility Public Improvement
Assessment was based on the par amount of each series of 2013 Project Infrastructure Bonds issued as a percentage
of the total par amount of all 2013 Project Infrastructure Bonds.
(2) In accordance with Section 5.12 above, the principal amount of the 2013 Facility Public Improvement
Assessment was reduced by the sum of all amounts by which the outstanding principal amount of the 2013 Project
Infrastructure Bonds have been reduced. As of December 31, 2026, the outstanding par amount of the 2013 Project
Infrastructure Bonds (with the 2021 LGC Tax Refunding Bonds) will be $77,300,000 thus reducing the
outstanding 2013 Facility Public Improvement Assessment to $68,190,642.53. The following Semi -Annual
Installments have been collected to pay Debt Service Shortfalls on the 2013 LGC Sales Tax Bonds: on February
14, 2017 in the amount of $500,081.25; on July 17, 2017 in the amount of $1,158,162.50; on July 16, 2018 in the
amount of $1,294,662.50; and on July 25, 2019 in the amount of $1,306,963.00 for a total of $4,259,869.25 which
payments do not reduce the principal amount of the 2013 Facility Public Improvement Assessment.
(3) The pro -rata share of the 2013 Facility Public Improvement Assessment that formerly secured the 2013 LGC
Tax Bonds now secures the 2021 LGC Tax Refunding Bonds.
[Remainder of page left blank intentionally.]
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 14
1775.016\1 109210.1
Outstanding
Allocated Portion of
Principal Amount of
Original 2013
2013 Facility Public
Facility Public
Improvement
Improvement
Assessment as of
Pro -Rata ShareM
Assessment
12/31/2026
2013 LGC Sales Tax Bonds
16.80%
$14,011,200
$ 12,135,685.04 (Z)
2021 LGC Tax Refunding Bonds0)
20.60%
$17,180,4000)
$ 11,427,188.93 (z)
2013 Type A Bonds
31.30%
$26,104,200
$ 22,313,884.28 12>
2013 Type B Bonds
31.30%
$26,104,200
$ 22,313,884.28 (Z)
(1) Pro -rata allocation of the original principal amount of the $83,400,000 2013 Facility Public Improvement
Assessment was based on the par amount of each series of 2013 Project Infrastructure Bonds issued as a percentage
of the total par amount of all 2013 Project Infrastructure Bonds.
(2) In accordance with Section 5.12 above, the principal amount of the 2013 Facility Public Improvement
Assessment was reduced by the sum of all amounts by which the outstanding principal amount of the 2013 Project
Infrastructure Bonds have been reduced. As of December 31, 2026, the outstanding par amount of the 2013 Project
Infrastructure Bonds (with the 2021 LGC Tax Refunding Bonds) will be $77,300,000 thus reducing the
outstanding 2013 Facility Public Improvement Assessment to $68,190,642.53. The following Semi -Annual
Installments have been collected to pay Debt Service Shortfalls on the 2013 LGC Sales Tax Bonds: on February
14, 2017 in the amount of $500,081.25; on July 17, 2017 in the amount of $1,158,162.50; on July 16, 2018 in the
amount of $1,294,662.50; and on July 25, 2019 in the amount of $1,306,963.00 for a total of $4,259,869.25 which
payments do not reduce the principal amount of the 2013 Facility Public Improvement Assessment.
(3) The pro -rata share of the 2013 Facility Public Improvement Assessment that formerly secured the 2013 LGC
Tax Bonds now secures the 2021 LGC Tax Refunding Bonds.
[Remainder of page left blank intentionally.]
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 14
1775.016\1 109210.1
2. Assessments related to the Additional Facility Public Improvements:
(1) Levied under Ordinance No. 2015-2136 approved on May 5, 2015.
(2) Levied under Ordinance No. 2015-2160 approved on September 15, 2015.
Assessments related to the Annual Related Development Public Improvements:)
Original Principal Amount
Levied
Outstanding as of
10/1/2026
2015 Facility Assessment(']
$959,247.96
$0.00
2015-16 Facility Assessment (2)
$1,218,234.83
$0.00
2016 Facility Assessment
$875,155.64
$0.00
2017 Facility Assessment
$658,465.00
$0.00
2018 Facility Assessment
$810,379.62
$0.00
2019 Facility Assessment
$570,667.99
$0.00
2020 Facility Assessment
$862,382.25
$0.00
2021 Facility Assessment
$535,879.94
$0.00
2022 Facility Assessment
$731,985.36
$0.00
2023 Facility Assessment
$691,853.18
$0.00
2024 Facility Assessment
$613,682.54
$0.00
2025 Facility Assessment
$583,969.62
$0.00
2026 Facility Assessment
$558,051.73
$558,051.73
TOTAL:
$9,669,955.66
(1) Levied under Ordinance No. 2015-2136 approved on May 5, 2015.
(2) Levied under Ordinance No. 2015-2160 approved on September 15, 2015.
Assessments related to the Annual Related Development Public Improvements:)
' Includes the Assessments levied against the Waterfront Property and the Related Development Property. Excludes
the 2013 Related Development Deferred Assessment.
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 15
1775.016\1109210.1
Original Principal Amount
Levied
Outstanding as of
10/1/2026
2015 Related Development Assessment()
$420,053.04
$0.00
2015-16 Related Development Assessment (2)
$236,757.17
$0.00
2016 Related Development Assessment
$287,680.36
$0.00
2017 Related Development Assessment
$872,993.00
$0.00
2018 Related Development Assessment
$687,426.36
$0.00
2019 Related Development Assessment
$490,441.03
$0.00
2020 Related Development Assessment
$810,043.90
$0.00
2021 Related Development Assessment
$366,446.95
$0.00
2022 Related Development Assessment
$572,445.40
$0.00
2023 Related Development Assessment
$643,597.28
$0.00
' Includes the Assessments levied against the Waterfront Property and the Related Development Property. Excludes
the 2013 Related Development Deferred Assessment.
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 15
1775.016\1109210.1
111 Levied under Ordinance No. 2015-2136 approved on May 5, 2015.
(Z) Levied under Ordinance No. 2015-2160 approved on September 15, 2015.
As authorized by the Act, the assessment of the 2013 Related Development Deferred Assessment
in the amount of $11,400,000 for the portion of the 2013 Facility Public Improvements that benefit
the Related Development Property remains deferred until the development of the Related
Development Property is certified as complete by the owner which will be the time at which the
special benefit conferred on the Related Development Property can be determined with certainty.
SECTION 8
ADDITIONAL PROVISIONS
8.1 Severability. The provisions of this Service and Assessment Plan are intended to be
severable. In the event any provision of this Service and Assessment Plan, or the application
thereof to any person or circumstance, is held or determined to be invalid, illegal, or unenforceable,
and if such invalidity, unenforceability, or illegality does not cause substantial deviation from the
underlying intent of the City Council as expressed in this Service and Assessment Plan, then such
provision shall be deemed severed from this Service and Assessment Plan with respect to such
person, entity, or circumstance without invalidating the remainder of this Service and Assessment
Plan or the application of such provision to other persons, entities, or circumstances.
8.2 Exhibits. The following exhibits are part of this Service and Assessment Plan:
Exhibit A:
Original Principal Amount
Levied
Outstanding as of
10/1/2026
2024 Related Development Assessment
$486,578.04
$0.00
2025 Related Development Assessment
$391,302.89
$0.00
2026 Related Development Assessment
$430,565.15
$430,565.15
TOTAL:
$6,696,330.57
111 Levied under Ordinance No. 2015-2136 approved on May 5, 2015.
(Z) Levied under Ordinance No. 2015-2160 approved on September 15, 2015.
As authorized by the Act, the assessment of the 2013 Related Development Deferred Assessment
in the amount of $11,400,000 for the portion of the 2013 Facility Public Improvements that benefit
the Related Development Property remains deferred until the development of the Related
Development Property is certified as complete by the owner which will be the time at which the
special benefit conferred on the Related Development Property can be determined with certainty.
SECTION 8
ADDITIONAL PROVISIONS
8.1 Severability. The provisions of this Service and Assessment Plan are intended to be
severable. In the event any provision of this Service and Assessment Plan, or the application
thereof to any person or circumstance, is held or determined to be invalid, illegal, or unenforceable,
and if such invalidity, unenforceability, or illegality does not cause substantial deviation from the
underlying intent of the City Council as expressed in this Service and Assessment Plan, then such
provision shall be deemed severed from this Service and Assessment Plan with respect to such
person, entity, or circumstance without invalidating the remainder of this Service and Assessment
Plan or the application of such provision to other persons, entities, or circumstances.
8.2 Exhibits. The following exhibits are part of this Service and Assessment Plan:
Exhibit A:
Legal Description of the Property
Exhibit A-1:
Depiction of the Property
Exhibit B:
Official Report - 2026-27 Public Improvements Cost
Exhibit C-1:
Service Plan: Five -Year Projection of Annual Indebtedness Related to
2013 Facility Public Improvements
Exhibit C-2:
Service Plan: Five -Year Projection of Annual Indebtedness Related to
Additional Facility Public Improvements
Service Plan: Five -Year Projection of Annual Indebtedness Related to
Exhibit C-3:
Annual Related Development Public Improvements
Exhibit C-4:
Form of Notice Required by Texas Property Code Section 5.014
Exhibit D:
Special Benefits Report
Exhibit E:
Assessment Roll
Exhibit E-1: Bond Debt Service Schedules for Calculating Debt Service Shortfall
Exhibit F: Chronological History of City Council Legislative Actions for the District
The Colony Public Improvement District No. 1 Annual Service and Assessment Plan Update - Page 16
1775.016\1109210.1
Exhibit A
Legal Descri tion of the PropejV 439.12 Acres
Being a 439.12 acre tract of land situated in the B.B.B & C.R.R. Survey, Abstract No. 173, B.B.B. & C. Survey,
Abstract No. 174, Thomas A. West Survey, Abstract No. 1344, and the M.D.T. Hallmark Survey, Abstract No. 570,
Denton County, Texas, and being all of a tract of land conveyed by deed to 121 Acquisition Company, LLC., as
recorded in Instrument No. 2011-114773, 2011-121444, and 2011-112195, Deed Records, Denton County, Texas, and
a portion of Plano Parkway and a portion of Burlington Northern Railroad tract, and being more particularly described
as follows:
BEGINNING at a found TxDOT monument, said point being the northwest corner of said 121 Acquisition Company,
LLC tract and being in the south right-of-way line of State Highway 121 (having a variable width R.O.W.);
THENCE North 63°32'06" East, along said south right-of-way line, a distance of 130.52 feet to a point for corner;
THENCE North 60°22'33" East, continuing along said south right-of-way line, a distance of 80.86 feet to a point for
corner;
THENCE South 29°13'03" East, continuing along said south right-of-way line, a distance of 50.00 feet to a point for
corner;
THENCE North 60°47'38" East, continuing along said south right-of-way line, a distance of 219.64 feet to a point for
corner, said point being in the west right-of-way line of Plano Parkway (100 ft R.O.W.);
THENCE North 50153'35" East, leaving said south right-of-way line, and leaving said west right-of-way line, a
distance of 100.00 feet to a point for corner, for the beginning of a non -tangent curve to the right having a radius of
950.00 feet and a central angle of 1'26'54" and a long chord which bears North 38122'58" West, 24.01 feet, said point
being in the east right-of-way line of said Plano Parkway;
THENCE along said east right-of-way line, and along said non -tangent curve to the right an arc distance of 24.01 feet
to a point for corner, said point being the most southerly point of a corner -clip of the intersection of said east right-of-
way line of Plano Parkway and the south right-of-way line of said State highway 121;
THENCE North 08°46'31" East, along said corner -clip, a distance of 26.03 feet to a point for corner, said point being
in the south right-of-way line of said State highway 121;
THENCE North 60°47'38" East, along said south right-of-way line, a distance of 203.71 feet to a point for corner;
THENCE North 58°17'36" East, continuing along said south right-of-way line, a distance of 252.11 feet to a point for
corner;
THENCE North 55°47'40" East, continuing along said south right-of-way line, a distance of 105.11 feet to a point for
corner;
THENCE North 58° 17'42" East, continuing along said south right-of-way line, a distance of 248.62 feet to a point for
corner;
THENCE North 60°47'38" East, continuing along said south right-of-way line, a distance of 263.85 feet to a point for
corner;
THENCE North 76°30'51" East, continuing along said south right-of-way line, a distance of 92.27 feet to a point for
corner;
THENCE North 65°56'12" East, continuing along said south right-of-way line, a distance of 100.40 feet to a point for
corner;
THENCE North 64'13'39" East, continuing along said south right-of-way line, a distance of 100.18 feet to a point for
corner;
THENCE North 60'16'36" East, continuing along said south right-of-way line, a distance of 39.88 feet to a point for
corner;
THENCE South 74°12'01" East, continuing along said south right-of-way line, a distance of 70.70 feet to a point for
corner;
THENCE North 60°47'38" East, continuing along said south right-of-way line, a distance of 64.12 feet to a point for
corner;
THENCE North 15°47'17" East, continuing along said south right-of-way line, a distance of 73.27 feet to a point for
corner;
THENCE North 59°04'32" East, continuing along said south right-of-way line, a distance of 94.25 feet to a point for
corner;
Exhibit A to The Colony SAP — Legal Description of the Property - Page 1
1775.016\1109210.1
Exhibit A
Legal Description of the Property(439.12 Acres)
THENCE North 55°39'04" East, continuing along said south right-of-way line, a distance of 100.40 feet to a point for
corner;
THENCE North 47°37'54" East, continuing along said south right-of-way line, a distance of 114.18 feet to a point for
corner;
THENCE North 60°47'38" East, continuing along said south right-of-way line, a distance of 3800.00 feet to a point
for corner;
THENCE North 65°20'10" East, continuing along said south right-of-way line, a distance of 189.41 feet to a point for
corner;
THENCE North 61'56'23" East, continuing along said south right-of-way line, a distance of 100.02 feet to a point for
corner;
THENCE North 63°39'23" East, continuing along said south right-of-way line, a distance of 100.12 feet to a point for
corner;
THENCE North 64°47'53" East, continuing along said south right-of-way line, a distance of 100.24 feet to a point for
corner;
THENCE North 66°30'16" East, continuing along said south right-of-way line, a distance of 201.00 feet to a point for
corner;
THENCE North 65°56'12" East, continuing along said south right-of-way line, a distance of 100.40 feet to a point for
corner;
THENCE North 66°30'16" East, continuing along said south right-of-way line, a distance of 100.50 feet to a point for
corner;
THENCE North 63'05'04" East, continuing along said south right-of-way line, a distance of 100.08 feet to a point for
corner;
THENCE North 64'13'39" East, continuing along said south right-of-way line, a distance of 100.18 feet to a point for
corner;
THENCE North 83°05'27" East, continuing along said south right-of-way line, a distance of 69.58 feet to a point for
corner;
THENCE North 60039'l 8" East, continuing along said south right-of-way line, a distance of 33.81 feet to a point for
corner, said point being in the west right-of-way line of Burlington Northern Railroad (having a variable width
R.O. W.);
THENCE North 60°38'52" East, leaving said west right-of-way line, a distance of 107.30 feet to a point for corner,
said point being in the east right-of-way line of said Burlington Northern Railroad;
THENCE North 60°45'58" East, leaving said east right-of-way line, continuing along said south right-of-way line of
State Highway 121, a distance of 254.35 feet to a point for corner;
THENCE North 63'19'02" East, continuing along said south right-of-way line, a distance of 585.96 feet to a point for
corner;
THENCE North 60°52'09" East, continuing along said south right-of-way line, a distance of 369.37 feet to a point for
corner, said point being in the west right-of-way line of West Spring Creek Parkway (having a 160 ft R.O.W.);
THENCE South 29°24'43" East, leaving said south right-of-way line, and along said west right-of-way line, a distance
of 265.52 feet to a point for corner, for the beginning of a non -tangent curve to the right having a radius of 970.00 feet
and a central angle of 29°13'42", and a long chord which bears South 14°53'13" East, 489.48 feet;
THENCE continuing along said west right-of-way line, and along said non -tangent curve to the right an arc distance
of 494.83 feet to a point for corner;
THENCE South 00°22'42" East, continuing along said west right-of-way line, a distance of 476.17 feet to a point for
corner;
THENCE South 00°23'35" East, continuing along said west right-of-way line, a distance of 864.92 feet to a point for
corner, said point being in the north line of Kings Ridge Addition, Phase Three, as recorded in Cabinet X, Page 450,
Plat Records, Denton County, Texas;
THENCE South 89°40'20" West, leaving said west right-of-way line, and along said north line, a distance of 1199.93
feet to a point for corner, said point being in the east right-of-way line of said Burlington Northern Railroad;
Exhibit A to The Colony SAP — Legal Description of the Property - Page 2
1775.016\1109210.1
Exhibit A
Legal Description of the Pry e 439.12 Acres
THENCE North 87°39'44" West, leaving said north line, leaving said east right-of-way line, a distance of 10 1. 16 feet
to a point for corner, for the beginning of a non -tangent curve to the right having a radius of 3703.75 feet and a central
angle of 3°44'19" and a long chord which bears South 04°12'25" West, 241.62 feet, said point being in the west right-
of-way line of said Burlington Northern Railroad;
THENCE along said east right-of-way line, and along said non -tangent curve to the right an arc distance of 241.67
feet to a point for corner;
THENCE South 06°04'35" West, continuing along said east right-of-way line, a distance of 2524.64 feet to a point for
corner;
THENCE North 83°17'00" West, continuing along said east right-of-way line, a distance of 190.16 feet to a point for
corner;
THENCE South 00°51'51" East, continuing along said east right-of-way line, a distance of 970.10 feet to a point for
corner;
THENCE South 89°03'50" West, continuing along said east right-of-way line, a distance of 31.06 feet to a point for
corner;
THENCE South 01°14'37" East, continuing along said east right-of-way line, a distance of 447.78 feet to a point for
corner;
THENCE North 87°06'22" West, leaving said east right-of-way line, a distance of 1240.48 feet to a point for comer,
for the beginning of a non -tangent curve to the left having a radius of 1130.00 feet and a central angle of 103°16'58",
and a long chord which bears North 38°43'34" West, 1772.16 feet, said point being in the east right-of-way line of
said Plano Parkway;
THENCE along said east right-of-way line, and along said non -tangent curve to the left an arc distance of 2036.97
feet to a point for corner;
THENCE South 89°38'05" West, continuing along said east right-of-way line, a distance of 647.23 feet to a point for
corner, for the beginning of a non -tangent curve to the right having a radius of 950.00 feet and a central angle of
40°05'36" and a long chord which bears North 70°19'29" West, 651.29 feet;
THENCE continuing along said east right-of-way line, and along said non -tangent curve to the right an arc distance
of 664.77 feet to a point for corner, for the beginning of a reverse curve to the left having a radius of 1050.00 feet and
a central angle of 40°15'06" and a long chord which bears North 70°25'01" West, 722.57 feet;
THENCE continuing along said east right-of-way line, and along said curve to the left an arc distance of 737.65 feet
to a point for corner;
THENCE South 89°31'25" West, continuing along said east right-of-way line, a distance of 623.83 feet to a point for
corner, for the beginning of a tangent curve to the right having a radius of 950.00 feet, a central angle of 0°48'07", and
a long chord which bears South 89°55'28" West, 13.21 feet;
THENCE continuing along said east right-of-way line, along said curve to the right, an arc distance of 13.21 feet to a
point for comer;
THENCE South 00°19'22" West, leaving said east right-of-way line, a distance of 100.00 feet to a point for corner,
said point being in the west right-of-way line of said Plano Parkway;
THENCE South 89°58'40" West, leaving said west right-of-way line, a distance of 1210.45 feet to a point for corner;
THENCE North 00°25'18" West, a distance of 226.47 feet to the POINT OF BEGINNING and CONTAINING
19,128,279 square feet, 439.12 acres of land, more or less.
Exhibit A to The Colony SAP — Legal Description of the Property - Page 3
1775.016\1109210.1
Exhibit A-1
Depiction of the Propez ty
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Exhibit A-1 to The Colony SAP — Depiction of the Property - Palge 1
177V16\1 109210,1
EXHIBIT B
OFFICIAL REPORT
2026-27 PUBLIC IMPROVEMENTS COST
The City of The Colony Public Improvement District No. 1
The Colony, Texas
PREPARED BY:
Jeremie Maurina, Executive Business Liaison
DATED: September 1, 2026
Exhibit B to The Colony SAP — Official Report - Public Improvement Cost - Page 1
1775.016\1109210.1
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- a
Exhibit C-4
FORM OF NOTICE REQUIRED BY
TEXAS PROPERTY CODE SECTION 5.014
Effective September 1, 2021, Texas Property Code §5.014 requires a seller of any real
property located in a public improvement district to give notice TWICE to the purchaser of the
purchaser's obligation to pay the PID assessment in the form required under Texas Property Code
§5.014, as amended. Section 5.0141 of the Texas Property Code requires the "First Notice" below
to be given to a prospective purchaser BEFORE the execution of a binding contract of purchase
and sale, either separately or as an addendum or paragraph of a purchase contract. AT CLOSING,
Section 5.0143 of the Texas Property Code requires a separate copy of the "Second Notice" below,
with current information, to be executed by the seller and purchaser, acknowledged and recorded
in the deed records of the county in which the property is located.
FIRST NOTICE:
NOTICE OF OBLIGATION TO PAY
IMPROVEMENT DISTRICT ASSESSMENTS
TO THE CITY OF THE COLONY, TEXAS
CONCERNING THE PROPERTY AT:
[INSERT STREET ADDRESS]
As the purchaser of the real property described above, you are obligated to pay assessments
to the City of The Colony, Texas for the costs of a portion of a public improvement or services
project (the "Authorized Improvements") undertaken for the benefit of the property within "City
of The Colony Public Improvement District No. 1" (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 WHICH 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 The Colony, Texas.
The exact amount of each annual installment will be approved each year by the City Council of
The Colony, Texas 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 The Colony,
Texas.
YOUR FAILURE TO PAY ANY ASSESSMENT, OR ANY ANNUAL
INSTALLMENT THEREOF, MAY RESULT IN PENALTIES AND INTEREST BEING
ADDED TO WHAT YOU OWE OR IN A LIEN ON AND THE FORECLOSURE OF YOUR
PROPERTY.
Exhibit C-4 to The Colony SAP — Form of Notice Required by
Texas Property Code Section 5.014 - Page 1
1775.016\1109210.1
Exhibit C-4
The undersigned purchaser acknowledges receipt of this notice prior to the effective date
of a binding contract for the purchase of the real property at the street address set forth above.
[PURCHASER]
[PURCHASER]
By: By:
Name: Name:
Date: Date:
The undersigned seller executes this notice pursuant to Texas Property Code Section 5.014(a-1), as
amended, before the effective date of a binding contract for purchase of the real property at the address
described above.
[SELLER]
By:
Name:
Date:
Exhibit C-4 to The Colony SAP — Form of Notice Required by
Texas Property Code Section 5.014 - Page 2
1775.016\1 109210.1
AFTER RECORDING RETURN TO:
[INSERT SELLER NAME
AND ADDRESS]
Exhibit C-4
SECOND NOTICE
NOTICE OF OBLIGATION TO PAY
IMPROVEMENT DISTRICT ASSESSMENTS
TO THE CITY OF THE COLONY, TEXAS
CONCERNING THE PROPERTY AT:
[INSERT STREET ADDRESS]
As the purchaser of the real property described above, you are obligated to pay assessments
to the City of The Colony, Texas for the costs of a portion of a public improvement or services
project (the "Authorized Improvements") undertaken for the benefit of the property within "City
of The Colony Public Improvement District No. 1" (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 WHICH 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 The Colony, Texas.
The exact amount of each annual installment will be approved each year by the City Council of
The Colony, Texas 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 The Colony,
Texas.
YOUR FAILURE TO PAY ANY ASSESSMENT, OR ANY ANNUAL
INSTALLMENT THEREOF, 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 prior to the effective date
of a binding contract for the purchase of the real property at the street address set forth above.
[SIGNATURE PAGES FOLLOW]
Exhibit C-4 to The Colony SAP — Form of Notice Required by
Texas Property Code Section 5.014 - Page 3
1775.016\1109210.1
Exhibit C-4
IN WITNESS WHEREOF, the undersigned parties have executed this notice at the closing
of the purchase of the real property at the address described above and for the purposes stated
therein.
[PURCHASER]
Name:
Date:
STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me by , known to
me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to
me that he or she executed the same for the purposes therein expressed.
Given under my hand and seal of office on this 120
[SEAL]
Notary Public, State of Texas
[PURCHASER]
By:
Name:
Date:
STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me by known to
me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to
me that he or she executed the same for the purposes therein expressed.
Given under my hand and seal of office on this 20
Notary Public, State of Texas
[SEAL]
Exhibit C-4 to The Colony SAP — Form of Notice Required by
Texas Property Code Section 5.014 - Page 4
1775.016\1109210.1
Exhibit C-4
The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
[SELLER]
By:
Name:
Date:
STATE OF TEXAS §
COUNTY OF DENTON §
This instrument was acknowledged before me by -'known to
me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to
me that he or she executed the same for the purposes therein expressed.
Given under my hand and seal of office on this 20.
Notary Public, State of Texas
[SEAL]
Exhibit C-4 to The Colony SAP — Form of Notice Required by
Texas Property Code Section 5.014 - Page 5
1775.016\1 109210.1
Exhibit D
Special Benefits Report
The City of The Colony Public Improvement District No. 1
The Colony, Texas
PREPARED BY:
Jeremie Maurina, Executive Business Liaison
DATED: September 1, 2026
Exhibit D to The Colony SAP — Facility Public Improvements Cost Special Benefit Analysis - Page 1
1775.016\1109210.1
The Facility is expected to generate eight million customers each year. Given the traffic and
security needs of the Facility, above those provided as part of the City's basic municipal services,
one hundred percent (100%) of the Public Improvements for: (1) the enhanced traffic management
services consisting of a portion of the salary for a dedicated signal technician (the "Enhanced
Traffic Services") and (2) the enhanced police services consisting of the salaries of two (2)
additional police officers, including benefits (the "Enhanced Police Services") are attributable to
the Facility Property. The Facility Property is a single economic unit comprised of two tax parcels.
The Public Improvements Costs consisting of the Enhanced Traffic Services and Enhanced Police
Services are allocated to the two tax parcels based on acreage. In previous years, the City levied
assessments related to traffic management system costs, traffic control equipment, and certain road
and street improvements for the special benefit of property within the PID; however, there are no
such improvements anticipated for the 2026-2026 fiscal year.
During the development related to the Additional Facility Assessments and Related Development
Assessments described in the 2018 Annual Service Plan Update, a series of "Enhanced
Development Services" (now defined as "Direct Su lemental Services") were identified that
provided specific benefits to several individual parcels. Due to the nature of these supplemental
services and the scope they cover, they are not easily forecasted for inclusion in a budget. Instead,
beginning with the 2019 Annual Service Plan Update, these costs have been estimated annually
and directly assessed to the benefitted parcels (See Exhibit E for adjusted assessments for the
current year). This provides a more accurate assessment and allows the costs of those services to
be recovered from the properties that have directly benefited from them. The total estimated cost
of these services is $13,140 for the 2026-27 assessment.
Additionally, the City retains a reserve of an estimated 90 days of operating costs calculated based
on the annual budget for the Public Improvements. The 90 days of operating costs are apportioned
to the Facility Property, Waterfront Property and Related Development Property based on the
percentages described below.
Table D-1 below shows the 2026-27 Public Improvement Costs and Table D-2 below shows the
special benefits analysis. The costs for the Enhanced Traffic Services and the Enhanced Police
Services shown below are allocated 100% to the Facility Property. The costs for the Special
Supplemental Services and Lake Maintenance are allocated on a per -acre basis to the Facility
Property, the Waterfront Property and the Related Development Property such that the Facility
Property is apportioned approximately 35.78 percent (107.47 Facility Property/300.3831 total
acres); the Waterfront Property is apportioned approximately 5.46 percent (16.4145 Waterfront
Property/300.3831 total acres); and the Related Development Property is apportioned
approximately 58.76 percent (176.4986 Related Development Property/300.3831 total acres).
[Remainder of page left blank intentionally.]
Exhibit D to The Colony SAP — Facility Public Improvements Cost Special Benefit Analysis - Page 2
1775.016\1109210.1
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Exhibit E
Assessment Roll
1. Outstanding 2013 Facility Public Improvement Assessment levied against Facility Property
consisting of Tax Parcel No. 657618 and 657619 is $68,190,642.53.
2. Assessment Roll for Additional Facility Public Improvements, Waterfront Public
Improvements and Related Development Public Improvements as levied by the 2026
Assessment Ordinance:
Tax Parcel ID I Legal Description I Acreage , % of Section I Assessment
Facility Property ($558,051.73)
7#657618 �GFZANDS�CAPEDITION BLK A LOT 1R 81.9900 76.30% $425,807.58
#657619 DITION BLK A LOT 2 25.4800 23.70% $132,244.15
Wnfarfrnnf PrnnPrty 1$3fi_080.651
#957987
GRANDSCAPE ADDITION PHASE II BLK D LOT 2R1
13.7740
82.66%
$29,823.44
#704832
GRANDSCAPE ADDITION PHASE II BLK D LOT 3
0.6750
4.05%
$1,461.51
#957988
GRANDSCAPE ADDITION PHASE II BLK D LOT 4R
0.5060
3.29%
$1,185.59
#957989
GRANDSCAPE ADDITION PHASE II BLK D LOT 5111
0.2976
1.79%
$644.36
#957990
GRANDSCAPE ADDITION PHASE II BLK D LOT 5R2
0.2717
1.63%
$588.28
#957991
GRANDSCAPE ADDITION PHASE II BLK D LOT 6111
0.4838
2.90%
$1,047.52
#957992
GRANDSCAPE ADDITION PHASE II BLK D LOT 6R2
0.4064
3.69%
$1,329.94
Related Development Property ($394,484.50)
#692390
GRANDSCAPE ADDITION BLK A LOT 6R
2.0150
1.11%
$4,362.88
#692391
GRANDSCAPE ADDITION BLK A LOT 7R
2.1050
1.16%
$4,557.74
#674231
GRANDSCAPE ADDITION PHASE II BLK B LOT 1R1
3.3860
1.86%
$7,331.36
#692389
GRANDSCAPE ADDITION BLK B LOT 4R
1.9250
1.06%
$4,168.01
#692387
GRANDSCAPE ADDITION BLK B LOT 2R
1.9030
1.04%
$4,120.37
#692388
GRANDSCAPE ADDITION BLK B LOT 3R1 -X
0.3010
0.17%
$651.72
#692379
GRANDSCAPE ADDITION BLK J LOT 1 R1
2.9310
1.61%
$6,346.20
#692380
GRANDSCAPE ADDITION BLK J LOT 3X
0.2040
0.11%
$441.70
#653844
GRANDSCAPE ADDITION PHASE II BLK A LOT 9
2.6830
1.47%
$5,809.23
#653843
GRANDSCAPE ADDITION PHASE II BLK A LOT 8R
2.9440
1.62%
$6,374.34
#748393
GRANDSCAPE MASTER CONDOMINIUMS UNT
MASTER UNIT PLUS 92.5
79.0894
43.89%
$173,134.15
#753491
GRANDSCAPE MASTER CONDOMINIUMS UNT MF
(MIXED USE) PLUS 6.
5.8389
3.20%
$12,642.35
#753492
GRANDSCAPE MASTER CONDOMINIUMS UNT A
(MIXED USE) PLUS .75
1.5738
0.86%
$3,407.50
#674218
GRANDSCAPE ADDITION PHASE II BLK A LOT 3R
3.6450
3.46%
$13,652.15
#732382
GRANDSCAPE ADDITION PHASE II BLK H LOT 2
8.5510
4.74%
$18,694.61
#1004631
GRANDSCAPE ADDITION PHASE II BLK E LOT 1R
1.0290
0.56%
$2,227.99
#1003642
GRANDSCAPE ADDITION PHASE II BLK H LOT 4R1
3.5810
2.01%
$7,933.58
#1015683
GRANDSCAPE ADDITION PHASE II BLK H LOT 4R2 -1R
10.3500
5.98%
$23,579.81
#1004632
GRANDSCAPE ADDITION PHASE II BLK E LOT 2
2.9590
1.62%
$6,406.82
#1082237
A0174A BBB & C,TR 1B, 7.7489
7.7489
4.25%
$16,777.91
#275371
A0174A BBB & C, TR 1A, 23.59 ACRES
23.5900
13.72%
$54,137.03
#692381
GRANDSCAPE ADDITION BLK J LOT 2
1.3430
0.74%
$2,907.86
#674225
GRANDSCAPE ADDITION PHASE II BLK C LOT 2R
3.9387
2.16%
$8,528.07
#1004634
GRANDSCAPE ADDITION PHASE II BLK E LOT 4
1.6380
0.92%
$3,636.60
#1004633
GRANDSCAPE ADDITION PHASE If BLK E LOT 3
1.2260
0.67%
$2,654.53
Grand Total $988,616.89
Exhibit E to The Colony SAP - Assessment Roll - Page 1
177.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Community Development Corporation
Sales Tax Revenue Bonds (Type B)
Series 2013
Debt Service Schedule
Part 1 of 3
Date
Principal
coupon
Interest
Total P+I
Fiscal Total
0J21/2013
10/01/2013
-
1.295,853.47
1,295,853.47
12/31/2013
-
1295,853.47
04/012014
-
-
1,060,243.75
1.060.243.75
-
10/01/2014
1,060 43,75
1.060,243.75
12/312014
-
2,120,487.50
04/01/2015
-
1,060,243.75
1.060,243.75
-
10/01/2015
-
1,060,243.75
1.060,243.75
-
12/312015
-
2,120,487.50
04/01!2016
1.060 243.75
1.060.243.75
10/01i2016
195.011000
4.500%
1,060,243.75
1,255.243.75
-
1'J31/2016
-
-
-
-
2,315,487.50
04/01/2017
1,055,856.25
1.055,856.25
-
10/012017
205.000.00
4.750%
1,055,856.25
1260,856.25
12/31/2017
-
_ _ _
_
_
_2316312.50
_
04/01/2018
1.050.987.50
1.050.987.50
-
10/01/2018
240,000.00
7.000%
1,050,987.50
1.290987.50
12J31/20 18
-
-
-
2,341.975.00
04/01/2019
-
-
1.042,587.50
1.042,587.50
10,01/2019
280.000.00
7.000%
_v 1.042.587.50
__1-322.587.50 _
12/31/2019
_
-
-
2.365,175.00
04/01/2020
-
1.032,787.50
1.032,787.50
-
10/01/2020
325.000.00
7.000%
1,032,787.50
1,357,78750
12/31/2020
-
-
2,390,575.00
04/01/2021
-
1,021,412.50
1_021,412.50
10/01/2021
370.000 00
7.000%
1.021.412.50
1,391,412.50
12/31/2021
-
-
-
2,412,825.00
04/01/2022
-
1,008.462.50
1,008.462.50
10/01!2022
420,000.00
7.000%
1,008,462.50
1.428,462.50
12131/2022
-
_
_-
-
2.436,925.00
04/012023
-
993,762.50
993,762.50
10/012023
475,000.00
7.000%
993,762.50
1.468,76250
12/312023
-
-
2,462,525.00
04101/2024
-
977,137.50
977,137,50
-
IM1/2024
530.000.00
7.000%_
977.137.50
1-50713750
12/31/2024
-
-
-
-
2,484.275.00
04/01/2025
-
-
958,587.50
958,587.50
10/01/2025
595.000.00
7.000%
958,587.50
1.553,587.50
-
12/31/2025
-
-
2,512.175.00
04/0112OL76
_
_ _ __. _ 937,762.50
937,7_62.50__
10/01/2026
_
660,000.00
7.000%
937,762.50
1,597,762.50
-
1231/2026
-
-
-
-
2.535,525.00
04/01/2027
914.662.50
914,662.50
-
10/01/2027
730.000.00
7.000%
914,662.50
1.644.662.50
48 ST Inc Series 2013 - F I SINGLE PURPOSE 1 9132021 1 12:19 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 1
1775.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Community Development Corporation
Sales Tax Revenue Bonds (Type B)
Series 2013
Debt Service Schedule
Part 2 of 3
Date
Principal
Coupon
Interest
Total P+I
Fiscal Total
12/3112027
—
— —
_
_
_2.559.325.00
04/01/2028
— —
889,112.50
889,112.50
-
10/0112028
805,000.00
7.000%
889,112.50
1,694,112.50
1213P2028
-
-
-
-
2,583,225.00
04:01/2029
-
-
860,937.50
860,937.50
-
10/01/2029
890.000 00
7.250%
860.937.50
1.750.937.50
-
12/31/2029
-
-
-
2,611.875.00
04/01/2030
-
-
828,675.00
828.675.00
-
10/0112030
980,000.00
7.250%
828,675.00
1.808,675.00
12/31/2030
-
-
-
2,637,350.00
04/012031
-
793,150.00
793.150.00
_ -
10/01/2031
1,080,000.00
7.250%
793,150.00
1,873,150,00
-
12/31/2031
-
-
-
2.666.30000
04;012032
-
754,000.00
754,000.00
-
10/012032
1,180.00000
7.250%
754,000.00
1.934.000.00
-
12/31/2032
-
-
-
-
2.688.000.00
04,01/2033
-
711,225.00
711,225.00
-
10/01/2033
1.295.000.00
7.250%
711 225.00
2,006,225.00
-
12/71/2033
-
-
_
2,717,450.00
04;012034
-
-
664.281.25
664,281.25
-
10/012034
1.415.000_._0.0
7.250%
664,281.25
2.079.281.25
-
12/31/2034
-
-
2,743.562.50
04/0/2035
-
612,987.50
612,987,50
10/01/2035
1,545.000.00
7.250%
612,987.50
2.157,987.50
12/3112035
-
2.770.975.00
04/012036
-
55_6,981.25
556,981.25
-
10/012036
1,685.000.00
7.250%
556,981.25
2.241.981-25
-
12/31/2036
-
2.798.962 50
04/01/2037
-
495,900.00
495.900.00
-
10/012037
1.835.000.00
7.250%
495,900.00
2.330.900.00
12/31/2037_
-
-
_
_ _ - _
_ 2,926.800.00
04/01/2038
_
-
-
429,381.25
429,381.25
-
IOYO12038
1,995,000,00
7.250%
429,381.25
2,424,381.25
-
12/312038
-
-
-
-
2,853,762.50
04,101/2039
-
-
357,062.50
357,062.50
-
10/01/2039
2,170.000.00
7.250%
357.06250
2.527.06250
-
[2/312039
-
-
-
2.884,125.00
04/012040
-
278,400.00
278,400.00
10/012040
2,355.000.00
7.250%
278,400.00
2.633,400,00
-
12/31/2040
-
-
-
-
2,911,800.00
04/01/2041
_-
193.031.25
193.031.25
10/01/2041
2.555.000.00
7.250%
193,031.25
2,748,031.25
-
12/312041
�.941.062,50
-
Q ST Inc Series 2013 - F I SINGLE PURPOSE 1 91 32021 1 12:19 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 2
1775.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Community Development Corporation
Sales Tax Revenue Bonds (Type B)
Series 2013
Debt Service Schedule
Part 3 of 3
Date Principal Coupon
Interest
Total P+I
Fiscal Total
04/01/2042 -
100,412.50
100,412.50
10/012042 2,770,000.00 7.250%
100,412.50
2,870,412.50
'-970.R2t 00
1:1313n-1'
Total $29,580,000.00
$46,696,403.47
$76,276,403.47
Yield Statistics
Bond Year DoNvy
_ $646.881_67
21.964 YOM:
�►ror a _ _ _
Life
— _
vcm c
AG_-
7.21RG933%
Yd Intcrest Cost (N1C l _
:_
7,57#78504
_
True Interest Cost (TIC)
..
7.957_376^.►
Bond Yield for Arbitrage Purposes
7.8369992%
_
All Inclusive Cost (AIC)
8.07746
IRS Form $036
8.1500099
Net Intcnst Cnsl
21.678 Ytmm
W6 III til A 7a ti blatut ity
4B ST Inc Series 2013- F I SINGLE PURPOSE 1 9132021 1 12:19 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 3
1775.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Economic Development Corporation
Sales Tax Revenue Bonds (Type A)
Series 2013
Debt Service Schedule
Part 1 of 3
Date
Principal
Coupon
laterast
Total P+I
Fiscal Total
02/21/2013
420,000.00
12_3112022 _
04/01/2023
-
10/01/2013
475,000.00
-
1,295,853.47
1295,853.47
-
12/31/2013
-
12/31/2024
-
-
1,295.853.47
04/01/2014
-
-
1,060,243.75
1,060,243.75-
-
10/01/2014
_ _
_
_ 1 060L43,75
1.060.243.75 _
-
12/31/2014
_
-
-
-
-
7,120.487.50
04/01/2015
— - -
1,060.243.75
1,060,243.75
-
10/01/2015
-
-
1,060,243.75
1.060.243_75
-
12/31/2015
-
•
-
-
2.120.487.50
04/01/2016
-
_ _ -
_I,D60.Y.i3.75
_ __1.060.243.75
937,762.50
10/01/2016
195,000.00
4.500%
1,060,243.75
1255243.75
-
12/31/2016
-
914,662.50
-
-
2,315.487.50
04/01/2017
-
1.055,856.25
1,055,856.25
-
10/01/2017
205.000.00
4.750%
1,055.856.25
1.260,856.25
-
12/31/2017
-
_ _ _
2,316,712.50
04/01/2018
-
-
1.050,987.50
1,050.987.50
10/01/2018
240,000 00
7000%
1.050,987.50
1,290,987.50
-
12/31/2018
-
-
2.341.975.00
04/01/2019
-
-
1,042,587.50
1.042.587.50
10/01/2019
280,000.00
7.000% _
1,042.587.50
tj1-1.387-50
-
12/31/2019
-
-
-
2.365.175.00
04/01i202O
-
-
1.032.787.50
1.032.787,50
-
10/01/2020
325,000.00
7.000%
1.032,787.50
1.357,787.50
-
17/31/7070
-
-
7,390.575-00
04/01/2021
10/01/2021
370,000.00
12/31/2021
-
04/01/2022
1.021.412.50
10/01/2022
420,000.00
12_3112022 _
04/01/2023
-
10/01/2023
475,000.00
12/31/2023
-
04/01/2024
-
10/01/2024 -
530,000.00
- - ---
12/31/2024
-
04/01/2025
-
10/01/2025
595,000.00
12/31/2025
-
04/01/2026 —
-
10/01/2026
660,000.00
12/31/2026
-
04/01/2027
-
10/01/2027
730,000-00
4A ST Inc Series 2013 - F I SINGLE PURPOSE 1 91312021 1 12:17 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 4
1775.016\1109210,1
1,021.412.50 _
_ _IA121.41150
7.000%
1.021.412.50
1,391.412.50
2,412.825.00
1,008,462.50
1.008,462,50
-
7,000%
1.008,462.50
1,428,462.50
-
:.4.36.925,_0.0
_
993.762.50
993,762.50
-
7.000%
993.762.50
1,468,762.50
-
_
_
7,462,525.00
977,137.50
977.137.50
7.000%
977.137.50
--
1,507.137.50 _
— - -
-
_
_
2,484,275.00
_
958,587.50
958.587.50
-
7,000%
958,587.50
1,553,587.50
-
•
_
7,512,175.00
937.762.50 _ _
937,762.50
7.000%
937,762.50
1,597,762.50
-
_
7,535,525.00
-
914,662.50
914,662.50
-
7.000%
914.662-50
1.644.662.50
4A ST Inc Series 2013 - F I SINGLE PURPOSE 1 91312021 1 12:17 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 4
1775.016\1109210,1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Economic Development Corporation
Sales Tax Revenue Bonds (Type A)
Series 2013
Debt Service Schedule Part 2 of 3
Date Principal Coupon Interest Total P+I Fiscal Total
12/31/2027
2.559.325.00
04/01/2028
-
889,112.50
889,112.50
-
10/01/2028
805,000.00
7.000%
889,112.50
1.694,112.50
-
12/3112028
-
-
-
2.583 _25.00
04/01/2029
-
•
860,937.50
860,937.50
-
10/01/2029
890.000.00
7.25.0% _
860,937.50
1.750,937.50
12/31/2029
-�
-
-
-
2,611,875.00
04/01/2030
-
828,675.00
828,675,00
10/01/2030
980,000.00
7.250%
828,675.00
1.808,675.00
-
12/31/2030
-
-
2,637,350.00
-
-
793,150.00
793.150.00
-
_0_4/01/2031
10/01/2031
1,080,000.00
7.250%
793,150.00
1.873,150.00
-
12/31/2031
-
2,666.300.00
04/01/2032
-
-
754,000.00
754,000.00
-
10/01/2032
1.180,000.00
7.250%
754,000.00
1.934,000.00
-
12/31/2032
-
-
-
_ -
2.688,000.00
_
04/01/2033
-
711.225,00
711,225.00
-
10/01/2033
1,295,000.00
7.250%
711,225.00
2,006,225.00
-
12/31/2033
-
2,717.450.00
04/01/2034
-
664,281.25
664,281.25
10/01/2034
1,415,000.00
7250%
664,28125
2.U79•,;R1.25
_
12/31/2034
-
2,743.562.50
04/01/2035
-
-
612,987.50
612,987.50
-
10/01/2035
1,545,000.00
7.250%
612,987.50
2.157,987.50
-
12/31/2035
-
2,770,975.00
04/01/2036
-
-
556.981.25 _
556,98125
10/01/2036
1,685,000.00
7.250%
556,981.25
2,241,981.25
12/31/2036
-
2,798,962.50
04/01/2037
-
-
495,900.00
495,900.00
-
10/01/2037
1,835,000.00
7.250%
495,900.00
2,330,900.00
12/31/2037
2,826.800-00
04/01/2038
-
429.381.25
429,381.25
-
10/01/2038
1,995.000.00
7.250%
429,381.25
2,424.381.25
-
12/31/2038
-
-
-
2,853,762.50
04/01/2039
-
-
357,062.50
357.062.50
10/01/2039
2,170,000.00
7.250%
357.06250
•_ _ 2.527.062.50
12/31/2039
-
-
-
-
2.884,125.00
04/01/2040
278,400.00
278,400.00
10/01/2040
2,355.000.00
7.250%
278,400.00
2,633,400.00
12/31/2040
-
-
-
2,911,800.00
04/01/2041
193.031.25
193,031.25
10/01/2041
2,555,000.00
7.250%
193,031.25
2.748.031,25
-
.12/3112041
2.941,06250
4A ST Inc Series 2013- F I SINGLE PURPOSE 1 9/312021 1 12:17 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 5
1775.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Economic Development Corporation
_
Sales Tax Revenue Bonds (Type A)
Series 2013
Debt Service Schedule
Part 3 of 3
Date Principal Coupon
Interest
Total P+I
Fiscal Total
04/01/2042
100,412.50
100,412.50
10/01/2042 2,770,000.00 7.250%
100,412.50
2,870,412.50
12/31/2042
7,970,825.00
Total $29,580,000.00 -
S46,696,403.47
$76,276,403.47
-
Yield Statistics
Bond Year Dollars
_
_ __1646-M-67
Avcrapc Life _
__
21,869 Years
Awe Coupon _
_
___ _
v 7.2186933%
Net Interest Cost3tit ICI _
— _
7787858%
True Interest Cost (TIC)
7.9972376%
Bond Yield for Arbitrage Purposes _ _
_
7.8369992%
All InclusivcCast (AIC) _
_
8.0774697%
IRS Form 8038
Net Interest Cost -
_ _
8.1500099%
Weighted Avera • Maturily
21.678 Ycars
4A ST Inc Series 2013 - F I SINGLE PURPOSE 1 9/ 312021 1 12:17 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 6
1775.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colonv Local Development Corporation
Sales Tax Increment Contract Revenue Bonds
Series 2013
Debt Service Schedule Part 1 of 3
Date
Principal
Coupon
Interest
Total P+I
Fiscal Total
02/21/2013
`
10/01/2013
-
707,765,97
707,765.97
-
12/31/2013
-
707,765.97
04/01/2014
-
579.081.25
579.081.25
-
10/01/2014
579,081.25
579.081.25
12/31/2014
-
1,158.162.50
04/01/2015
579,081.25
579,081.25
-
10/01/2015
-
579,081.25
579,081.25
-
12/31/2015
-
1,158.162.50
04/01/2016
_ _ -
_ 57_9.08_1.25_ _
579,081.25
-
_
10/01/2016
-
579,081-25
579,081.25
12/31/2016
-
-
-
-
1,158,162-50
04/01/2017
-
579,081,25
579,081.25
-
10/01/2017
-
579,081,25
579.081.25
-
12/31/2017
-
_1.158.162.50
04/01/2018
-
579,081.25
579.081.25
-
10/01/2018
140.000.00
5.000%
579,081.25
719.081.25
-
12/31/2018
-
-
1,298.162.50
04/01/2019
575.581.25
575.581.25
-
10/01/2019
160,000.00
5.250%
575,581_.2_5 _
7_35.581.25
12/31/2019
-
-
1.311.162.50
04/01/2020
-
571,381.25
571.381.25
-
10/01/2020
180,000.00
5,500%
571.381.25
751,381.25
-
12/31/2020
-
-
-
1,32? 762.50
04/01/2021
-
566,431.25
566.431.25
10/01/2021
205,000.00
5.750%
566,431.25
771.431.25
-
12/31/2021
-
-
-
1.337.862.50
04/01/2022
-
-
560,537.50
560,537.50
10/01/2022
230,000.00
6.000%
560,537.50
790.537.50
-
12/31/2022
_
_
_ _
_
_ 1.351.075.00
04/01/2023
_
-
-
553,637.50
553,637.50
-
10/01/2023
255,000.00
6.250%
553,637.50
808,637.50
-
12/31/2023
-
1.362,275.00
04/01/2024
-
-
545,668-75
545,668.75
10/01/2024
2$5,000.00
6.500%
5455668.75
830.668.75 _
12/31/2024
-
-
1.376.337.50
04/01/2025
-
536,406.25
536,406.25
10/01/2025
315,000.00
6.750%
536,406.25
851,406.25
12/31/2025
-
-
1.387,812.50
04/012026
_ 525,775.00
525_775.00
10/01/2026
355,000.00
6.875%
525,775.00
880,775.00
-
12/31/2026
-
-
-
-
1.406,550,00
04/01/2027
513,571.88
513,571.88
10/01/2027
390.000.00
7.000%
513571.88
903.571.88
ST Inc Series 2017-FINA I SINGLE PURPOSE 1 9172021 1 12:21 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 7
1775.016\1 109210.1
E-1
Band Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Local Development Corporation
Sales Tax Increment Contract Revenue Bonds
Series 2013
Debt Service Schedule Part 2 of 3
Date
Principal
Cou on
Interest
Total P+I
Fiscal Total
12/31/2027
1,417.143.76
04/01/2028
-
-
499,921.88
499,921.88
-
10/01/2028
435,000.00
7.125%
499,921.88
934,921.88
12/31/2028
-
-
-
1,434,843.76
04/01/2029
484,425.00
484,425.00
10/01/2029
480.000.00
71250%
_ 484,425.00
964.425.00
12/31/2029
-
- -'
-
_
1,448,850.00
04/01/2030
-
-
467,025.00
467,025.00
-
10/01/2030
525,000.00
7.250%
467,025.00
992,025.00
-
12/31/2030
-
-
-
-
1,459,050.00
04/01/2031
447.993,75
447,993.75
10/01/2031
580,000.00
7.250%
447,993.75
1,027,993.75
12/31/2031
-
-
1,475.987.50
04/01/2032
426,968.75
426,968.75
-
10/01/2032
635,000.00
7.250%
426,968.75
1,061,968.75
12/31/2032
-
1.488.937.50
04/01/2033
-403,95000
00
403.950.00
10/01/2033
695,000.00
7.250%
403,950.00
1,098,950.00
12/31/2033
-
-
1,502.900.00
04/01/2034
378,756.25
378.756.25
10/01/2034
765.000.00
7.SiHMi
_378,756.25
1,143.756.25
-
12/31/2034
_
-
1,522,512 50
04/01/2035
-
350,068.75
350,068.75
-
10/01/2035
835,000.00
7.500%
350,068.75
1,185,068.75
-
12/31/2035
-
-
-
1,535,137.50
04/01/2036
318,756.25
_ _ 318.756.25
10/01/2036
915,000.00
7,500%
318,756.25
1,233.756.25
-
12/31/2036
-
-
1,552,512.50
04/01/2037
284,443.75
284,443.75
-
10/01/2037
995,000.00
7.500%
284,443.75
1,279,443.75
-
12/31/2037
-
f- -
1,563,887.50
04/01/2038
-
247,131.25
247,131.25
10/01/2038
1,090,000.00
7,500%
247,131.25
1,337,131.25
12/31/2038
-
-
1,584,262.50
04/01/2039
-
206,256.25
206,256.25
-
10/01/2039
1,185,000.00
7.625% _
206.256.25
12/31/2039
- - -
-
1.597,512.50
04/01/2040
161,078.13
161,078.13
10/01/2040
1,290,000.00
7.625%
161,078.13
1,451,078.13
12/31/2040
-
-
1,612,156.26
04/01/2041
_ _
_ _
111.896.88
111.896,88
10/01/2041
1,405,000.00
7.625%
111,896.88
1,516,896.88
-
12/31/204J
1.628.793.76.
ST Inc Series 2013-FINA I SINGLE PURPOSE 1 9/3/2021 1 12.21 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 8
1775.0]6\1109210.]
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
The Colony Local Development Corporation
Sales Tax Increment Contract Revenue Bonds
Series 2013
Debt Service Schedule
Part 3 of 3
Date Principal Coupon
Interest
Total P+I
Fiscal Total
04/01/2042
58,331 25
58.331.25
10/01/2042 1,530,000.00 7625%
58.331.25
1,588.331.25
12/31/2042
_
1.646.662.50
Total $15,875,000.00
$26,090,566.01
341,965,566.01
-
Yield Statistics
Bond Year Dollars
_ $351,366.39
Average Life _ _
_
._
22.133 Years
Average Coupon _ _ _ _ _
7.4254587%
Net Interest Cost CNIC)
_ 7.5261162%
rnrn Ipt�cat Cast ITIG]
7S8fif16 7%
Bond Yield for Arbitrage Purposes
_ _
_ 7.4008834
All Inclusive Cost (AIC.)
_ _ _
__ 7.6874835%
IRS Form 8038
Net Interest Cost _
_ _
7.4677027%
Weighted Average 4 ioninev
22-115 Y rs
ST Inc Series 2013 - FINA I SINGLE PURPOSE 1 91 Y2021 1 12:21 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 9
1775.016\1109210.1
E-1
Bond Debt Service Schedules for Calculating Debt Service Shortfalls
Final
The Colony TIRZ #1
TIRZ Increment Contract Revenue Refunding Bonds
Series 2021
Debt Service Schedule
Part 1 of 2
Date
Principal
Coupon
Interest
Total P+I
Fiscal Total
OJ23/2021
04/01/2021
-
77,637.27
77,637.27
-
10/01/2021
1.150,000.00
3.580%
367.755.50
1,517,755.50
-
12/31/2021
-
1,595,392.77
04/01/2022
_
_
__ _ 347.170.50
347,170,50
=
10/01/2022
1.195,000.00
3.580%
347,170.50
1,542,170.50
-
12/31/2022
-
-
1,889,341.00
04/01/2023
-
325,780.00
325,780.00
-
10/01/2023
1,235.000.00
3.580%
325.780.00
1,560,780.00
-
12/312023
-
_ ___ _
_
_ -
_IM�-460.00
_
04/01/2024
303,673.50
303.673.50
-
10/01/2024
1,280,000.00
3.580%
303.673.50
1.583,673-50
'
12/31/2024
_
1,887.347.00
04/01/2025
-.
280,761,50
280,761.50
10/01/2025
1,330.000.00
3,580%
280,761.50
1,610.761.50
-
12/31/2025
-
-
1.891,523.00
04/01/2026
-
-
256,954.50
256,954.50
10/01/2026
1,375,000.00
3.580%
256.954.50
1,631,954.50
-
12/31/2026
-
-
1.888,909.00
04!01/2027
-
232.342.00
232342.00
-
10/01/2027
1,425,000.00
3.580%
232.342.00
1,657,342.00
-
12/31/2027
-
-
-
1,889.684.00
04/01/2028
-
-
206.834.50
206,834.50
-
10/01/2028
1,480,000.00
3.580%
206.834.50
1,686,834.50
-
12/31/2028
-
_ -
1,893,669.00
04/01/2029
-
-
180,342.50
180.342.50
-
10/01/2029
1,530.000.00
3.580%
180.342.50
1,710,342,50
-
12/31/2029
-
-
-
1,890.685.00
04/01/2030
152.955.50
152,955.50
-
1.590.000.00
_ 3.580%
152.95550 —
1.742.955.50
_10/01/2030
12/31/2030
_
-
-
-
1.895,911.00
04/01/2031
--
124,494.50
124,494.50
-
10/01/2031
1,645,000.00
3.580%
124,494.50
1,769,494.50
12/31/2031
-
-
-
-
1,893,989.00
04/01/2032
95.049.00
95,04_9.00_
_
10/01/2032
1,705,000.00
3.580%
95,049.00
1,800,049.00
-
12/31/2032
-
-
-
-
1,895,098.00
04/01/2033
-
-
64,529.50
64,529.50
10/01/2033
1,770,000.00
3.580%
64,529.50
1.834,529.50
12/31/2033
-
U99.059,00
04/01/2034
32.846.50
32.846.50
10/01/2034
1,835,000.00
3.580%
32,846.50
1,867,846.50
12/31/2034
-
-
1,900,693.00
Total $20,545,000.00 $5,652,860.77 $26,197,860.77 -
Series 2021 FINAL - CYE I SINGLE PURPOSE 1 9/ 3/2021 1 12:32 PM
Exhibit E-1 to The Colony SAP — Bond Debt Service Schedules for Calculating
Debt Service Shortfalls - Page 10
775.016\1109210.1
Exhibit F
Chronoloizical History of City Council Legislative Actions for the District
Below is a summary of prior legislative actions of the City Council for the District, including the levy of all Assessments
against benefitted property within the District. This Exhibit F shall be updated with each Annual Service Plan Update.
Items marked with an (**) were validated as part of the matter styled Ex Parte City of The Colony in the 531 District
Court of Travis County, Texas (the "Bond Validation Suit") for which a Final Judgment was issued on January 18, 2012.
September 17, 2012**
• Landowner petition ('PID Creation Petition") for the establishment of the District is
submitted to the City and filed with the City Secretary.
September 18, 2012
• City Council approved Resolution No. 2012-067 accepting the PID Creation Petition and
calling a public hearing on the creation of the District for October 8, 2012.
September 21, 2012**
. Notice of "City of The Colony, Texas, Notice of Public Hearing Regarding the Proposed
Establishment of City of The Colony Public Improvement District No. V is mailed to
"Property Owners" as required by the Act.
September 22, 2012**
. Notice of "City of The Colony, Texas, Notice of Public Hearing Regarding the Proposed
Establishment of City of The Colony Public Improvement District No. 1" is published in
the Denton Record Chronicle as required by the Act.
September 26, 2012**
• City Council by motion accepts and approves PID Creation Petition, waiver of the 15 -day
notice for the public hearing on the creation of the District to be held on October 8, 2012,
and waiver of the 20 -day protest period for the commencement of construction of the
Authorized Improvements.
October 8, 2012**
■ After considering all written and documentary evidence presented at the public hearing
described above, City Council approved Resolution No. 2012-073 authorizing the creation
of the District.
October 9, 2012**
■ Publication of Resolution No. 2012-073 authorizing the creation of the District as required
by the Act.
December 11, 2012
. City Council approved Resolution No. 2012-100 accepting a preliminary service and
assessment plan, proposed assessment roll and proposed reimbursement agreement for the
District and calling a public hearing ("2013 Assessment Hearing") for January 15, 2013 to
consider an ordinance levying assessments on benefitted property within the District and
directing publication and mailing of statutory notices for such hearing.
December 17,2012**
• Notice of "City of The Colony, Texas, Notice of Public Hearing on Assessment Ordinance
for the City of The Colony Public Improvement District No. 1" is mailed to 'Property
Owners" as required by the Act.
December 19, 2012**
. Notice of "City of The Colony, Texas, Notice of Public Hearing on Assessment Ordinance
for the City of The Colony Public Improvement District No. V is published in the Denton
Record Chronicle as required by the Act.
January 15, 2013
a City Council conducted the 2013 Assessment Public Hearing and approved a motion to
continue the 2013 Assessment Public Hearing until February 7, 2013.
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page l
1775.016\1109210.1
Exhibit F
Chronological History of City Council Legislative Actions for the District
February 7, 2013**
a After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2013-1992, recorded as
Instrument No. 2013-20487 in the real property records of Denton County, Texas (the
"2013 Assessment Ordinance"), which (i) approved and accepted the "City of The Colony,
Texas, Public Improvement District No. 1 Service and Assessment Plan" dated February 7,
2013 (the "Original Service and Assessment Plan"), (ii) levied the 2013 Facility Public
Improvement Assessment against the Facility Property for the 2013 Public Improvements
as shown on the Assessment Roll attached as Exhibit G to the Original Service and
Assessment Plan, and (iii) deferred levying the 2013 Related Development Deferred
Assessment for the portion of the 2013 Public Improvements Cost that specially benefits
the Related Development Property.
City Council approved Resolution No 2013-008 approving the 2013 LGC Sales Tax Bonds,
the 2013A LGC Sales Tax Bonds, and the 2013 LGC Tax Bonds and approving the 2013
LGC Sales Tax Bonds Reimbursement Agreement and the 2013 LGC Tax Bonds
Reimbursement Agreement.
■ City Council approved Resolution No. 2013-009 approving the 2013 Type A Bonds and
approving the 2013 Type A Bonds Reimbursement Agreement.
■ City Council approved Resolution No. 2013-010 approving the 2013 Type B Bonds and
approving the 2013 Type B Bonds Reimbursement Agreement.
April 21, 2015
• City Council approved Resolution No. 2015-042 accepting the City of The Colony Public
Improvement District No. I Preliminary 2015 Annual Service and Assessment Plan, dated
March 17, 2015, including proposed assessment roll for the District and calling a public
hearing ("2015 Assessment Public Hearin ") for May 5, 2015 to consider an ordinance
levying assessments in the aggregate amount of $1,379,301.00 on benefitted property
within the District, and directing publication and mailing of statutory notices for such
hearing.
May 5, 2015
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2015 Assessment Public Hearing.
0 After considering all written and documentary evidence presented at the duly noticed public
hearing described above, the City Council approved Ordinance No. 2015-2136 (the "2015
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 12015 Annual Service and Assessment Plan, dated May 5, 2015 (the "2015
Annual Service Plan Update") and levied Assessments in the aggregate amount of
$1,379,301 consisting of. (i) $959,247.96 against the Facility Property for costs of
Additional Facility Public Improvements (the "2015 Facility Assessment"), (ii)
$369,143.53 for Boardwalk Public Improvement Costs (as defined in the 2015 Annual
Service Plan Update) and $50,909.51 for Related Development Public Improvements Costs
against the benefitted portions of the Related Development Property (collectively, the
aggregate $420,053.04 amount is referred to as the "2015 Related Development
Assessment")
August 18, 2015
• City Council approved Resolution No. 2015-066 accepting the City of The Colony Public
Improvement District No. 1 Preliminary 20152016 Annual Service and Assessment Plan,
dated August 13, 2015, including proposed assessment roll for the District, and calling a
public hearing ("2015-I6 Assessment Public Hearin ") for September 1, 2015 to consider
an ordinance levying assessments in the aggregate amount of $1,454,992.00 on benefitted
property within the District, and directing publication and mailing of statutory notices for
such hearing.
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page 2
1775.016\1109210,1
Exhibit F
Chronological History of City Council Legislative Actions for the District
September 15, 2015
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2015-16 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2015-2160 (the "2015
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1201512016 Annual Service and Assessment Plan, dated August 13, 2015 and
amended September 14, 2015 (the "2015/1016 Annual Service Plan Update") and levied
Assessments in the aggregate amount of $1,454,992 consisting of. (i) $1,218,234.83 against
the Facility Property for costs of Additional Facility Public Improvements (the "2015
Facility Assessment ), (ii) $148,428.69 for Boardwalk Public Improvement Costs (as
defined in the 2015 Annual Service Plan Update) and $88,328.48 for Related Development
Public Improvements Costs against the benefitted portions of the Related Development
Property (collectively, the aggregate $236,757.17 amount is referred to as the "2015 Related
Development Assessment")
August 16, 2016
• City Council approved Resolution No. 2016-049 accepting the City of The Colony Public
Improvement District No. 1 Preliminary 2016/2017 Annual Service and Assessment Plan,
dated August 10, 2016, including proposed assessment roll for the District, and calling a
public hearing ("2016 Assessment Public Hearin ") for September 6, 2016 to consider an
ordinance levying assessments in the aggregate amount of $1,162,836.00 on benefitted
property within the District, and directing publication and mailing of statutory notices for
such hearing.
September 6, 2016
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2016 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2016-2232 (the "2016
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1201612017 Annual Service and Assessment Plan, dated August 10, 2016 and
amended August 29, 2016 (the "2016 Annual Service Pian U date") and levied
Assessments in the aggregate amount of $1,162,836.00 consisting of. (i) $875,155.64
against the Facility Property for costs of Additional Facility Public Improvements (the
"2016 Facility Assessment"), (ii) $120,673.24 for Boardwalk Public Improvement Costs
(as defined in the 2016 Annual Service Plan Update) and $167,007.12 for Related
Development Public Improvements Costs against the benefitted portions of the Related
Development Property (collectively, the aggregate $287,681.36 amount is referred to as the
"2016 Related Development Assessment").
September 5, 2017
• City Council approved Resolution No. 2017-078 accepting the City of The Colony Public
Improvement District No. 1 Preliminary 2 01 712 01 8 Annual Service and Assessment Plan,
dated August 16, 2017, including proposed assessment roll for the District, and calling a
public hearing ("2017 Assessment Public Hearin ") for September 19, 2017 to consider an
ordinance levying assessments in the aggregate amount of $1,531,458.00 on benefitted
property within the District, and directing publication and mailing of statutory notices for
such hearing.
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page 3
1775.016\1109210.1
Exhibit F
Chronological History of City Council Legislative Actions for the District
September 19, 2017
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2017 Assessment Public Hearing.
■ After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2017-2283 (the "2017
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 12017/2018 Annual Service and Assessment Plan, dated August 16, 2017 and
amended September 11, 2017 (the "2017 Annual Service Plan U ate") and levied
Assessments in the aggregate amount of $1,531,458 consisting o£ (i) $658,465 against the
Facility Property for costs of Additional Facility Public Improvements (the "2017 Facility
Assessment"), (ii) $402,978 for Waterfront Public Improvement Costs (as defined in the
2017 Annual Service Plan Update) and $470,015 for Related Development Public
Improvements Costs against the benefitted portions of the Related Development Property
(collectively, the aggregate $872,993 amount is referred to as the "2017 Related
Development Assessment").
August 21, 2018
• City Council approved Resolution No. 2018-071 accepting the City of The Colony Public
Improvement District No. 1 Preliminary 2018/2019 Annual Service and Assessment Plan,
dated August 16, 2018, including proposed assessment roll for the District, and calling a
public hearing ("2018 Assessment Public Hearing") for September 18, 2018 to consider an
ordinance levying assessments in the aggregate amount of $1,497,805.98 on benefitted
property within the District, and directing publication and mailing of statutory notices for
such hearing.
September 18, 2018
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2018 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2018-2235 (the "2018
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1 2018/2019 Annual Service and Assessment Plan, dated September 12, 2018
(the "2018 Annual Service Plan U11date") and levied Assessments in the aggregate amount
of $1,497,805.98 consisting of. (i) $810,379.62 against the Facility Property for costs of
Additional Facility Public Improvements (the "2018 Facility Assessment"), (ii) $83,293.66
for Waterfront Public Improvement Costs (as defined in the 2018 Annual Service Plan
Update) and $604,132.70 for Related Development Public Improvements Costs against the
benefitted portions of the Related Development Property (collectively, the aggregate
$687,426.36 amount is referred to as the "2018 Related Development Assessment").
August 20, 2019
• City Council approved Resolution No. 2019-065 accepting the City of The Colony Public
Improvement District No. I Preliminary 2019/2020 Annual Service and Assessment Plan,
dated August 15, 2019, including proposed assessment roll for the District, and calling a
public hearing ("2019 Assessment Public Hearing") for September 17, 2019 to consider an
ordinance levying assessments in the aggregate amount of $1,061,109.02 on benefitted
property within the District, and directing publication and mailing of statutory notices for
such hearing.
September 17, 2019
. After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2019 Assessment Public Hearing.
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page 4
1775.01611092 10.1
Exhibit F
Chronolo ical History of City Council Le illative Actions for the District
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page 5
1775.016U 109210.1
■ After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2019-2376 (the "2019
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1201912020 Annual Service and Assessment Plan, dated September 17, 2019
(the "20I9 Annual Service Plan Update") and levied Assessments in the aggregate amount
of $1,061,109.02 consisting of: (i) $570,667.99 against the Facility Property for costs of
Additional Facility Public Improvements (the "2019 Facility Assessment"), (ii) $49,965.50
for Waterfront Public Improvement Costs (as defined in the 2019 Annual Service Plan
Update) and $440,475.53 for Related Development Public Improvements Costs against the
benefitted portions of the Related Development Property (collectively, the aggregate
$490,441.03 amount is referred to as the "2019 Related Development Assessment").
August 5, 2020
■ City Council approved Ordinance No. 2020-2407 accepting the City of The Colony Public
Improvement District No. 1 Preliminary 2020/2021 Annual Service and Assessment Plan,
dated August 13, 2020, including proposed assessment roll for the District, and calling a
public hearing ("2020 Assessment_ Public Hearin >?") for September 15, 2020 to consider an
ordinance levying assessments in the aggregate amount of $1,061,109.02 on benefitted
property within the District, and directing publication and mailing of statutory notices for
such hearing.
September 15, 2020
+ After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2020 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2020-2407 (the "2020
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1202012021 Annual Service and Assessment Plan, dated September 15, 2020
(the "24720 Annual Service flan Update") and levied Assessments in the aggregate amount
of $1,061,109.02 consisting of. (i) $570,667.99 against the Facility Property for costs of
Additional Facility Public Improvements (the "2020 Facility Assessment"), (ii) $49,965.50
for Waterfront Public Improvement Costs (as shown in Exhibit B of the 2020 Assessment
Ordinance) and $440,475.53 for Related Development Public Improvements Costs against
the benefitted portions of the Related Development Property (collectively, the aggregate
$490,441.03 amount is referred to as the "2020 Related Development Assessment").
January 19, 2021
• City Council approved Ordinance No. 2021-2430 approving an Approving an Amended
and Restated Service and Assessment Plan for the District, Including Assessment Roll for
The City of The Colony Public Improvement District No. 1.
• City Council approved Resolution No. 2021-006 approving and Consenting to The Colony
Local Development Corporation Tax Increment Contract Revenue Refunding Bonds
(Nebraska Furniture Mart Texas Project) Taxable Series 2021.
August 17, 2021
+ City Council approved Resolution No. 2021-053 accepting the City of The Colony Public
Improvement District No. 1 Annual Service and Assessment Plan Update (Assessment Year
October 1, 2021 to September 30, 2022), dated August 13, 2021, including proposed
assessment roll for the District, and calling a public hearing ("2021 Assessment Public
Hearin n ") for September 7, 2021 to consider an ordinance levying assessments in the
aggregate amount of $902,327on benefitted property within the District, and directing
publication and mailing of statutory notices for such hearing.
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page 5
1775.016U 109210.1
Exhibit F
Chronological History of City Council Legislative Actions for the District
September 7, 2021
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2021 Assessment Public Hearing.
■ After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2021-2449 (the "2021
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1 Annual Service and Assessment Plan Update (Assessment Year October 1,
2021 to September 30, 2022), dated September 7, 2021 (the "2021 Annual Service Plan
Update") and levied Assessments in the aggregate amount of $902,327 consisting of: (i)
$535,879.94 against the Facility Property for costs of Additional Facility Public
Improvements (the "2021 Facility Assessment"), (ii) $41,034.82 for Waterfront Public
Improvement Costs (as shown in Exhibit B of the 2021 Assessment Ordinance) and
$325,412.13 for Related Development Public Improvements Costs against the benefitted
portions of the Related Development Property (collectively, the aggregate $366,446.95
amount is referred to as the "2021 Related Development Assessment"). The 2021
Assessment Ordinance was recorded as Instrument No. 168472 on September 14th, 2021
in the Real Property Records of Denton County.
August 16, 2022
• City Council approved Resolution No. 2022-054 accepting the City of The Colony Public
Improvement District No. 1 Preliminary Annual Service and Assessment Plan Update
(Assessment Year October 1, 2022 to September 30, 2023), dated August 14th, 2022,
including proposed assessment roll for the District, and calling a public hearing ("2022
Assessment Public Hearin ") for September 6, 2022 to consider an ordinance levying
assessments in the aggregate amount of $1,304,422 on benefitted property within the
District, and directing publication and mailing of statutory notices for such hearing.
October 18, 2022
. After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2022 Assessment Public Hearing.
After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2022-2491 (the "2022
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. I Annual Service and Assessment Plan Update (Assessment Year
October 1, 2022 to September 30, 2023), dated August 14, 2022 (the "2022 Annual Service
Plan Update") and levied Assessments in the aggregate amount of $1,304,421.76 consisting
of. (i) $731,985.36 against the Facility Property for costs of Additional Facility Public
Improvements (the "2022 Facility Assessment"), (ii) $68,245.18 for Waterfront Public
Improvement Costs (as shown in Exhibit B of the 2022 Assessment Ordinance) and
$504,191.22 for Related Development Public Improvements Costs against the benefitted
portions of the Related Development Property (collectively, the aggregate $572,436.40
amount is referred to as the "2022 Related Development Assessment"). The 2022
Assessment Ordinance was recorded as Instrument No. 149037 on October 21 S', 2022 in the
Real Property Records of Denton County.
August 15, 2023
• City Council approved Resolution No. 2023-057 accepting the City of The Colony Public
Improvement District No. I Preliminary Annual Service and Assessment Plan Update
(Assessment Year October 1, 2023 to September 30, 2024), dated August 15, 2023,
including proposed assessment roll for the District, and calling a public hearing ("2023
Assessment Public Hearing") for September 5th, 2023 to consider an ordinance levying
assessments in the aggregate amount of $1,335,447 on benefitted property within the
District, and directing publication and mailing of statutory notices for such hearing.
Exhibit F to The Colony SAP — Chronological History of City Council Legislative
Actions for the District - Page 6
1775.016\1109210.1
Exhibit F
Chronological History of City Council Legislative Actions for the District
September 19, 2023
After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2023 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2023-2535 (the "2023
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1 Annual Service and Assessment Plan Update (Assessment Year October 1,
2023 to September 30, 2024), dated September 19, 2023 (the "2023 Annual Service Plan
Update") and levied Assessments in the aggregate amount of $1,335,447 consisting of. (i)
$691,853.18 against the Facility Property for costs of Additional Facility Public
Improvements (the "2023 Facility Assessment"), (ii) $61,601.36 for Waterfront Public
Improvement Costs (as shown in Exhibit B of the 2023 Assessment Ordinance) and
$581,992.92 for Related Development Public Improvements Costs against the benefitted
portions of the Related Development Property (collectively, the aggregate $643,594.28
amount is referred to as the "2023 Related Development Assessment"). The 2023
Assessment Ordinance was recorded as Instrument No. 101705 on September 201`, 2023 in
the Real Property Records of Denton County.
September 3, 2024
• City Council approved Resolution No. 2024-065 accepting the City of The Colony Public
Improvement District No. 1 Preliminary Annual Service and Assessment Plan Update
(Assessment Year October 1, 2024 to September 30, 2025), dated September Yd , 2024,
including proposed assessment roll for the District, and calling a public hearing ("2024
Assessment Public Hearin ") for September 17th, 2024 to consider an ordinance levying
assessments in the aggregate amount of $1,100,261 on benefitted property within the
District, and directing publication and mailing of statutory notices for such hearing.
September 17, 2024
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2024 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2024-2578 (the "2024
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1 Annual Service and Assessment Plan Update (Assessment Year
October 1, 2024 to September 30, 2025), dated September 19, 2024 (the "2024 Annual
Service Plan Update") and levied Assessments in the aggregate amount of $1,100,261
consisting of (i) $613,682.54 against the Facility Property for costs of Additional Facility
Public Improvements (the "2024 Facility Assessment"), (ii) $47,719.48 for Waterfront
Public Improvement Costs (as shown in Exhibit B of the 2024 Assessment Ordinance) and
$438,858.56 for Related Development Public Improvements Costs against the benefitted
portions of the Related Development Property (collectively, the aggregate $486,578.04
amount is referred to as the "2024 Related Development Assessment"). The 2024
Assessment Ordinance was recorded as Instrument No. 101428 on September 19, 2024 in
the Real Property Records of Denton County.
August 19, 2025
. City Council approved Resolution No. 2025-092 accepting the City of The Colony Public
Improvement District No. I Preliminary Annual Service and Assessment Plan Update
(Assessment Year October 1, 2025 to September 30, 2026), dated August 19, 2025,
including proposed assessment roll for the District, and calling a public hearing ("2025
Assessment. Public Hearin ") for September 16, 2025 to consider an ordinance levying
assessments in the aggregate amount of $975,272.51 on benefitted property within the
District, and directing publication and mailing of statutory notices for such hearing.
Exhibit F to The Colony SAP -- Chronological History of City Council Legislative
Actions for the District - Page 7
177.016\1109210.1
Exhibit F
Chronological History of City Council Legislative Actions for the District
September 16, 2025
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2025 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2025-2623 (the "2025
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. I Annual Service and Assessment Plan Update (Assessment Year
October 1, 2025 to September 30, 2026), dated August 19, 2025 (the "2025 Annual Service
Plan Update) and levied Assessments in the aggregate amount of $975,272.51 consisting
of. (i) $583,969.62 against the Facility Property for costs of Additional Facility Public
Improvements (the "2025 Facilijy Assessment"), (ii) $40,452.38 for Waterfront Public
Improvement Costs (as shown in Exhibit C of the 2025 Assessment Ordinance) and
$350,850.51 for Related Development Public Improvements Costs against the benefitted
portions of the Related Development Property (collectively, the aggregate $391,302.89
amount is referred to as the "2025 Related Development Assessment"). The 2025
Assessment Ordinance was recorded as Instrument No. 104293 on September 17, 2025 in
the Real Property Records of Denton County.
September 1, 2026
• City Council approved Resolution No. 2026-061 accepting the City of The Colony Public
Improvement District No. 1 Preliminary Annual Service and Assessment Plan Update
(Assessment Year October 1, 2026 to September 30, 2027), dated September 1, 2026,
including proposed assessment roll for the District, and calling a public hearing ("2026
Assessment Public Hearing") for September 15, 2026 to consider an ordinance levying
assessments in the aggregate amount of $988,616.88 on benefitted property within the
District, and directing publication and mailing of statutory notices for such hearing.
September 15, 2026
• After notice was properly mailed and published and required by the PID Act, the City
Council conducted the 2026 Assessment Public Hearing.
• After considering all written and documentary evidence presented at the public hearing
described above, the City Council approved Ordinance No. 2026- (the "2026
Assessment Ordinance") which approved the City of The Colony Public Improvement
District No. 1 Annual Service and Assessment Plan Update (Assessment Year
October 1, 2026 to September 30, 2027), dated September 15, 2026 (the "2026 Annual
Service Plan Update") and levied Assessments in the aggregate amount of $988,616.88
consisting of. (i) $558,051.65 against the Facility Property for costs of Additional Facility
Public Improvements (the "2026 Facility Assessment"), (ii) $36,080.65 for Waterfront
Public Improvement Costs and $394,484.50 for Related Development Public Improvements
Costs against the benefitted portions of the Related Development Property (collectively, the
aggregate $430,565.15 amount is referred to as the "2026 Related Development
Assessment"). The 2026 Assessment Ordinance was posted on the City's website on
2026 and recorded as Instrument No. in the Real Property Records of
Denton County on or before September 22, 2026.
Exhibit F to The Colony SAP -- Chronological History of City Council Legislative
Actions for the District - Page 8
1775.016\1109210.1