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HomeMy WebLinkAbout2014-0916 Amendment to Information form - Notice to PurchaserAMENDMENT TO INFORMATION FORM FOR TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 STATE OF TEXAS COUNTY OF DENTON COUNTY OF TARRANT We, the undersigned, constituting a majority of the members of the Board of Directors of Trophy Club Municipal Utility District No. 1 (the "District") of Denton County, Texas, do hereby make and execute this Amendment to the Information Form in compliance with Section 49.455, Texas Water Code, as amended. We do hereby certify as follows: 3. Tax Rate. The most recent rate of the District taxes on property located in the District and not exempted by the Constitution of the State, valid State laws, or District order or regulation, is as follows: $0.13339 on each $100 of assessed valuation (tax rate for 2014 As approved by the Board of Directors of the District on September 16, 2014.) 8. Form of Notice to Purchasers. The particular form of Notice to Purchasers required by Section 49.452 of the Texas Water Code to be furnished by a seller to a purchaser of real property in the District, with all information required to be furnished by the District completed, Is attached hereto as Exhibit 1, and is thereby made a part of this Information Form for all purposes. WITNESS OUR HANDS THIS THE 16TH DAY OF September, 2014. Ji ;�itl•ss President 14 try-laseVic Pres'.ent Kevin R. Carr, Secretary TTr-easurer • Neil Twomey, Director / NOTICE TO PURCHASERS IN TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 (Pursuant to Texas Water Code, Section 49.452) (as of September 16, 2014) 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 2014 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 $5,520,000). 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 ) by [seal] This instrument was acknowledged before me on , 20, 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: