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1976-002 AN ORDIN~'qCE CLOSING THE HEARING .~q'D LEVYING AN ASSESSMENT ON THE REAL AND TRUE OWNERS OF PROPERTY ABUTTING THE STREETS SPECIFIED IN STREET PAVING ASSESSMENT ON GOBER STREET FROM CROW TO SENA, FINDING AND DETERMINING THAT EACH AND EVERY PARCEL OF PROPERTY ABUTTING UPON SAID STREETS WITHIN THE LIMITS DEFINED WILL BE SPECIFICALLY BENEFITED AND ENHANCED IN VALUE IN EXCESS OF THE AMOUNT OF THE COST OF SAID IMPROVEMENTS, FIXING A CHARGE AND LIEN AGAINST ALL SAID ABUTTING PROPERTY AND THE REAL AND TRUE OWNERS THEREOF, PROVIDING FOR THE ~SUANCE OF ASSIGNABLE CERTIFICATES UPON THE COMPLETION AND ACCEPTANCE OF SAID WORK, PROVIDING FOR THE COMPLETION AND ACCEPTANCE OF SAID WORK, PROVIDING FOR THE MANNER OF PAYMENT OF SUCH ASSESSMENT, THE RATE OF INTEREST AND THE CONDITIONS OF DEFAULT THE COUNCIL OF THE CITY OF DENTON, TEXAS, HEREBY ORDAINS SECTION I The City Co.noel of the City of Denton, Texas, f~nds that the D~rector of Community Development has prepared an estimate of the cost of ~mprovements on Gober Street from Crow to Sena, the estimate of cost having been completed and filed ~n the office of the D~rector of Comm%unlty Development ten days prior to the date of thls ordlnance and the estlmates of cost so prepared and flied are hereby approved The C~ty Council further f~nds that the plans and specifications prepared by the D~rector of Community Development for the Improvements of the here~n named streets are sat~sfaotory, and such plans and speclflcatlons are hereby approved The C~ty Co~ncll flnds that due not~ce and opportunity to be heard on th~s assessment has been g~ven, and that notice of the public hearing was given at least ten days before the date of the hearing and inserted at least three times ina newspaper published in the C~ty of Denton, as required by law The public hearlng was opened and held ~n a~¢ordance w~th the ordinance and not~ce, at wh~oh t~me and place an opp~rt~ty was g~ven to all of the persons, firms, corporations and estates owning or claiming any such abutting property, or any ~nterest there~n, to be heard and to offer evidence as to all matters ~n acoordance wlth sa~d ordlnance and not~ce In the course of the hearing, suff~clent and competent evidence was heard showing that the ~mprovements to be placed along the property involved would an each instance ancrease the value of such property by more than the cost of such improvements to the property owners Based on the evidence, matters, testimony and objectlons considered at such hearlng, the saad Clty Council has determaned that the pro- pert~es and each and every parcel of such property abutting upon the streets and units as hereanafter set out will be enhanced in value and speclfacally beneflted in an amount an excess of the amount of the cost of such improvements proposed to be, and as here- anafter assessed against eaoh of sa~d parcels of property, abutting upon sa~d streets and the real and true owners thereof The cost of improvements of each portion of street ordered · mproved herean shall be apportaoned among the parcels of abuttang property and owners thereof an accordance wath the front foot plan, which plan ~s found to be fair and equitable SECTION II There as hereby levaed and assessed agaanst the parcels of property descrabed ~n Exhlblt B attached hereto and made a part hereof, and against the real and true owners thereof, whether such owners are named or correctly named ~n such exhibit or not, the sums of money shown opposite the description of property ~n such exh~bat SECTION III Where more than one person, farm or corporation owns an ~n- terest ~n any parcel of property descrabed in Exhibit B, each owner shall be personally l~able only for the prorata share of the total assessment against such property in proportion as such owner's in- terest bears to the real ownershlp of such property, and such owner's anterest an such property may be released from the assessment l~en upon payment of such proportional sum SECTION IV The several sums mentioned an Exh~bat B and assessed against the respective parcels of property descrabed therein and the owners thereof and ~nterest thereon as specaf~ed here~n, together with ex- -2- penses of collectzon and reasonable a~torney~s fees, [~ ~ncurred, shall be a fzrst and p~zor lzen on the respective parcels of pro- perty assessed superzor to all other liens and claims, except State, County, School Dlstrzct and City Ad Valorem taxes, and shall be a personal llabllzty and charge against the real and true owners of such property, whether such owners are named or correctly named in such exhlbzt or not SECTION V The several sums mentioned zn Exhibit B and assessed against the respective parcels of property descrlbed therein and the owners thereof shall be payable by one of the alternative methods below set forth (a) Placing an amount equal to the paving assessment in escrow for the C~ty of Denton with the Department of Fznance to be pa~d upon completion and acceptance of the paving by the City of Denton, or, (b) Executing a note or notes, payable to the C~ty of Denton · n an amount equal to the paving assessment to be assessed against the abutting property, sald notes to be payable zn equal monthly in- stallments not to exceed three years ~f the front footage is less than 300 feet, four years ~f the front footage is 300 feet to 400 feet, and five years if the front footage ~s over 400 feet Interest on the note or notes, payable in equal monthly In- stallments, shall be at a rate of elght (8%) percent per ann~m Any balance on any note that is due and owzng and unpaid shall carry an · nterest rate of eight (8%) percent per annum until paid Any such installment may be pa~d at any time before maturlty by the payment of the principal and accrued ~nterest thereon Past due principal and interest shall bear interest at the same rate from maturity until pazd If default ~s made in the amount of any such ~nstallments or znterest, the entire unpaid balance of the assessment plus ~nterest shall, w~thout notice to the owners, and at the option of the holder of the Cert~fzcate of Special Assessment, -3- if any, immediately beoome due and payable, together with expenses of collectlon and reasonable attorney's fees, ~f ~ncurred In the event of such default, ¢ollectaon shall be enforced by suat an any court havang ]urlsdactlon (c) In the event the amount payable for the paving assess- ment is not placed in escrow, as provided in paragraph (a) above, or by the executlon of notes, as provided an the foregoing para- graph, the full sum of the assessment as shown in Exhlbat B shall be due and payable upon the completion and acceptance of the work provlded for hereln SECTION VI For the purpose of evldenclng the several assessments lev~ed, assignable certificates may be ~ssued by the City of Denton upon completion and acceptance of the improvements Such certaflcates, if assued, shall be executed by the Mayor, signing the same, or by his facs~mlle slgnature ~mpressed thereon, and attested by the Caty Secretary, under the ampress of the corporate seal, and shall be payable to the Caty of Denton or ats assagns Such certaflcates shall provide ~n substance the following (a) The amount of the assessment as specified ~n Exhibit B, together with time, terms, rate of lnterest and condataons of pay- ment as specified in Section V above (b) The terms and condltlons of default as specified in Sec- taon V above (c) That the proceedings with reference to maklng the amprove- ments there~n referred to have been regularly had an complaance wath the law and that all prerequisites to the faxlng of the assessment laen agalnst property described an the certaflcate and the personal llabalaty of the owner or owners thereof have been performed (d) Coupons may be attached in evadenee of the several in- stallments which may be signed w~th the facslmlle signatures of the Mayor and City Secretary (e) That the C~ty of Denton shall exercise all of ~ts lawful powers when requested by the holder to aid in the collection thereof 771 --4-- , w, ??.1. Such certifaeates may also contazn other appropraate and pertanent recatals SECTION VII In the event any such assessment for any reason whatsoever shall be held or determaned to be anvalad or unenforceable, then the Caty Councal reserves the raght to supply any defacaency proceedangs wath reference thereto and correct any mastake or lrregularaty an connectaon therewath, and at any tame to make and levy reassessments after notace and hearings as nearly as possible an the manner provaded by the Statute referred to an Sectaon VIII hereof for oraganal assessments and subject to the provisions thereof wath referenoe to specaal benefits SECTION VIII Such assessments are lev~ed under the prov~saons of the Acts of the Legislature of the State of Texas, known as Article 1105b of Vernon's Texas Cavll Statutes PASSED and APPROVED thas the 6th day of January, A D 1976 TOM D JEST --JTR B~ ~OLT,CITY- SEC~TARY CITY OF DENTON, TEXAS ~PRO~D AS TO LEG~ FO~ ~A~ C ISHA~, CITY ATT0~EY CITY OF DENTON, TEXAS --5_ EXHIBIT B Assessment Koll GOBER Crow to Sene ~ Assessment Total Pavement Cb & Gutter Total ~ot ~ame & Address ~onst,_ Only Only Cost 4 & 5 Rosabel E Mizell, Box 365, Denton 200' $2000 00 6 David E Brown, 2514 Ft Worth Dr 200' 2000 00 5 2 Gary Bennett, 1728 Sene 150' 1500 00 5 3 James B Mack, 2304 Crestwood 50' 500 00 6 Iverna M Uilson Box 223, 50' 500 00 Ector, TX 75439 6 1 C C Orr, Jr , 1911 Mistywood 50' 500 00 6 2 Bob E Vestal 1022 Congress 100' 1000 00 $8000 00