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Home My WebLink About033183 ORD - 10/10/2023Ordinance authorizing a Wastewater Trunk Line Construction and Reimbursement Agreement up to $1,274,863.04 with Yasin Investments, LLC to construct a required wastewater trunk line for the proposed development located off South Padre Island Drive on the Island and South of Viento Del Mar Dr; and authorizing future transfer and appropriation of Water and Wastewater Trust Fund revenue up to $1,274,863.04 to reimburse the developer in accordance with the agreement. (District 4) WHEREAS, the Developer/Owner, in compliance with the City's Unified Development Code ("UDC"), has a plat, approved by the Planning Commission on June 29, 2022, to develop a tract of land, approximately 2.412 acres known as Padre Island No. 1, Lot 10R, Block 14; WHEREAS, under the UDC, the Developer/Owner is responsible for construction of the 15 -inch Wastewater Trunk Line ("Wastewater Improvements"); WHEREAS, under the UDC, the Developer/Owner is eligible for reimbursement of the Developer/Owner's costs for the construction of Wastewater Improvements; WHEREAS, it is in the best interests of the City to have the Wastewater Improvements be constructed to its ultimate capacity under the City's applicable Master Plan; WHEREAS, the City's participation as Trustee does not create a loan of its credit because Texas Constitution Article 1.1, Section 3 prohibits the City from becoming a subscriber to the capital of any private corporation or association, or make any appropriation or donation to the same, or in anywise loan its credit; WHEREAS, execution of the Agreement constitutes a promise to pay only to the extent that the assets and future assets of the trust are sufficient for such purpose and that any judgement will only be satisfied out of the assets of the trust and not out of the City's assets and the City is excluded from personal liability; WHEREAS, the Wastewater Trunk System Trust Fund does not currently have sufficient funds to fully reimburse Developer/Owner for Wastewater Improvements under the Agreement; WHEREAS, a construction and reimbursement agreement must be approved by the City Council before the developer starts construction. Reimbursement only shall be made when monies are available in and appropriated from the Wastewater Trunk System Trust Fund. The order of the reimbursement will be determined according to the date construction and reimbursement agreement is approved by the City Council; WHEREAS, the Agreement approved herein will be fifth -in-line in the order for reimbursement from the Wastewater Trunk System Trust Fund based on the date the agreement is approved by the City Council per UDC 8.5.3.E; and WHEREAS, If the developer is owed funds from the Wastewater Trunk System Trust Fund reimbursement shall be made as funds are deposited into the trust fund from other development and/or, the developer will be given credit for lot or acreage fees that are due on subsequent final plats filed with the County Clerk per UDC 8.5.3.E. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, THAT: 033183 SCANNED SECTION 1. The City Manager, or designee, is authorized to execute a Wastewater Trunk Line Construction and Reimbursement Agreement ("Agreement") with Yasin Investments, LLC ("Developer"), for the extension of a 24 -inch wastewater trunk line,, including all related appurtenances, for the development of Oso Creek Corner Subdivision, Corpus Christi, Nueces County, Texas. SECTION 2. In the event of a project delay, the City Manager or designee is authorized to execute an extension of the agreement for a period not to exceed a period of 12 months. SECTION 4. The City Manager or designee is authorized to transfer future revenue of the Water Arterial Transmission and Grid Main Trust Fund, Water Distribution Main Trust Fund, and Wastewater Collection Line Trust Fund to the No.4220-21800-777 Wastewater Trunk System Trust Fund in accordance with the priority established by UDC 8.5.1.C.1.d, 8.5.1.C.2.d, 8.5.2.E.1.d, and 8.5.2.E.2.d, until $1,274,863.04 is appropriated in accordance with this ordinance. SECTION 5. The City Manager or designee is authorized to appropriate $1,274,863.04 from the No.4220-21800-777 Wastewater Trunk System Trust Fund as funds become available to reimburse the Developer for the wastewater trunk system construction and improvements in accordance with the Agreement, this ordinance, and the UDC. SECTION 6. This ordinance takes effect upon passage. Introduced and voted on the I l day of 51Wis.\\rAr , 2023. D and APPROVED on the 101 day of fir, , 2023. u Paulette Guajardo, ayor Rebecca Huerta, City Secretary 033183 CITY OF CORPUS CHRISTI CERTIFICATION OF FUNDS (City Charter Article IV, Sections 7 & 8) I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized representative), hereby certify to the City Council and other appropriate officers that the money required for the current fiscal year's portion of the contract, agreement, obligation or expenditure described below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has not been appropriated for any other purpose. Future payments are subject to annual appropriation by the City Council. City Council Action Date: 09/19/2023 Legistar Number: 23-1405 Agenda Item: Ordinance authorizing a Wastewater Trunk Line Construction and Reimbursement Agreement up to $1,274,863.04 with Yasin Investments, LLC to construct a required wastewater trunk line for the proposed development located off South Padre Island Drive on the Island and South of Viento Del Mar Dr; and authorizing future transfer and appropriation of Water and Wastewater Trust Fund revenue up to $1,274,863.04 to reimburse the developer in accordance with the agreement. (District 4). Amount Required: (Amount to be Certified) $1,274,863.04 Fund Name Accounting Unit Account No. Amount Sanitary Sewer Trunk Main Trust Fund as fund become available (Future Revenues) 4220-21800-777 540450 $1,274,863.04 TOTAL $1,274,863.04 ❑ Certification Not Required atIAAA.. )ict"--- v--2— /o c� �� 92-3 Director of Financial Services Date: