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HomeMy WebLinkAbout2015-0925 Notice to PurchaserNOTICE TO PURCHASER TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 (Pursuant to Texas Water Code, Section 49.452) (as of September 25, 2015) The real property, described below, that you are about to purchase is located in TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 (the "District"). The 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 District on real property located in the District is $0.13114 (for the 2015 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 all bonds approved by the voters have been issued, and the aggregate initial principal amounts of all bonds issued for one or more of the specified facilities of the District and payable in whole or in part from property taxes is $29,094,217 (of which the total principal amount of bonds outstanding at this time is ($10,845,000). 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 only 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 and fire- fighting 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. 1 of 4 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 Notary Public, State of Texas (SEAL) My commission expires: 2 of 4 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 Notary Public, State of Texas (SEAL) My commission expires: 3 of 4 TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 AMENDMENT TO INFORMATION FORM STATE OF TEXAS COUNTIES OF DENTON AND 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") located in Denton and Tarrant Counties, 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: $0.13114 on each $100 of assessed valuation (tax rate for 2015 as approved by the Board of Directors of the District on September 25, 2015.) 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 25th day of September, 2015. Jim Moss, Jesident Vice Presiders Kevin R. Carr, Secretary/Treasurer j- a; e� C. 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