HomeMy WebLinkAbout2013-2014 Notice to PurchaserNOTICE TO PURCHASERS
IN TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1
(Pursuant to Texas Water Code, Section 49.452)
(as of September 26, 2013)
The real property, described below, that you are about to purchase is located in the
TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 (the "District," as consolidated with
Trophy Club Municipal Utility District No. 2 as of May 9, 2009). The consolidated District has
taxing authority separate from any other taxing authority and may, subject to voter approval,
issue an unlimited amount of bonds and levy an unlimited rate of tax in payment of such bonds.
As of this date, the rate of taxes levied by the consolidated District on real property located in the
District is $0.13339 (for the 2013 tax year) on each $100 of assessed valuation.
The total amount of bonds, excluding refunding bonds and any bonds or any portion of
bonds issued that are payable solely from revenues received or expected to be received under a
contract with a governmental entity, approved by the voters and which have been or may, at this
date, be issued by the consolidated District is $29,094,217 (of which $5,769,217 of bonds
approved by the voters has not yet been issued), and the aggregate initial principal amounts of
all bonds issued for one or more of the specified facilities of the consolidated District and payable
in whole or in part from property taxes is $23,325,000 (of which the total principal amount of
bonds outstanding at this time is $7,475,428).
The District is located in part within the corporate boundaries of the Town of Trophy Club
(a home -rule municipality), in part within the corporate boundaries of the Town of Westlake (a
general -law municipality), in part within the extraterritorial jurisdiction of the Town of Trophy Club,
and in part within the extraterritorial jurisdiction of the Town of Westlake. With respect to
property located within the corporate boundaries of a municipality, the taxpayers of the District
are subject to the taxes imposed by the municipality and by the District until the District is
dissolved. By law (Texas Local Government Code, Section 43.076(d)), a district located wholly
in two or more municipalities and in unincorporated area may be abolished by agreement among
the district and all of the municipalities in which parts of the district are located, and without the
consent of the voters of the district.
The purpose of this District is to provide water and sanitary sewer facilities and services and
fire -fighting facilities and activities within the District through the issuance of bonds payable in
whole or in part from property taxes. The cost of these utility facilities is not included in the
purchase price of your property, and these utility and fire -fighting facilities are owned or to be
owned by the District.
The legal description of the property you are acquiring is as follows:
Signature of Seller Date
NOTARY ACKNOWLEDGMENT FOR SELLER:
THE STATE OF TEXAS)
COUNTY OF )
This instrument was acknowledged before me on , 20 ,
by
[seal]
Notary Public, State of Texas
My commission expires:
PURCHASER IS ADVISED THAT THE INFORMATION SHOWN ON THIS FORM IS
SUBJECT TO CHANGE BY THE DISTRICT AT ANY TIME. THE DISTRICT ROUTINELY
ESTABLISHES TAX RATES DURING THE MONTHS OF SEPTEMBER THROUGH
DECEMBER OF EACH YEAR, EFFECTIVE FOR THE YEAR IN WHICH THE TAX RATES ARE
APPROVED BY THE DISTRICT. PURCHASER IS ADVISED TO CONTACT THE DISTRICT
TO DETERMINE THE STATUS OF ANY CURRENT OR PROPOSED CHANGES TO THE
INFORMATION SHOWN ON THIS FORM.
The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or
prior to execution of a binding contract for the purchase of the real property described in such
notice or at closing of purchase of the real property.
Signature of Purchaser Date
NOTARY ACKNOWLEDGMENT FOR PURCHASER:
THE STATE OF TEXAS)
COUNTY OF )
This instrument was acknowledged before me on , 20
by
[seal]
Notary Public, State of Texas
My commission expires: