Public hearing on proposed assessments for public improvements in Oak Point.

CITY OF OAK POINT, TEXASNOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN THAT a public hearing will be conducted by the City Council of the City of Oak Point, Texas on May 27, 2026, at or after 6:00 p.m. at the Oak Point City Hall, 100 Naylor Road, Oak Point, Texas 7 5068. The public hearing will be held to consider proposed assessments to be levied against the assessable property within Improvement Area #2, Improvement Area #3, Improvement Area #4, and Improvement Area #5 of the Oak Point 720 Public Improvement District (the “District”) pursuant to the provisions of Chapter 372 of the Texas Local Government Code, as amended.
The general nature of the proposed public improvements benefitting Improvement Area #2 of the District to be undertaken at this time (the “Improvement Area #2 Projects”) include: roadway and paving improvements, storm drainage improvements, retention ponds, sanitary sewer improvements, water improvements, acquisition of real property in connection with such improvements, related soft and miscellaneous costs and district formation costs. The current estimated costs of the Improvement Area #2 Projects are approximately $5,005,503. The total cost of the Improvement Area #2 Projects, plus Improvement Area #2’s allocable share of the costs of establishing, administering and operating the District and issuing related bonds, including debt service reserve funds, capitalized interest and other costs of issuance (collectively, the “Improvement Area #2 Authorized Improvements”) is expected to be approximately $6,500,000. The exact amount will be provided in the approved service and assessment plan.The general nature of the proposed public improvements benefitting Improvement Area #3 of the District to be undertaken at this time (the “Improvement Area #3 Projects”) include: roadway and paving improvements, storm drainage improvements, retention ponds, sanitary sewer improvements, water improvements, acquisition of real property in connection with such improvements, related soft and miscellaneous costs and district formation costs. The current estimated costs of the Improvement Area #3 Projects are approximately $9,434,875. The total cost of the Improvement Area #3 Projects, plus Improvement Area #3’s allocable share of the costs of establishing, administering and operating the District and issuing related bonds, including debt service reserve funds, capitalized interest and other costs of issuance (collectively, the “Improvement Area #3 Authorized Improvements”) is expected to be approximately $11,000,000. The exact amount will be provided in the approved service and assessment plan.The general nature of the proposed public improvements benefitting Improvement Area #4 of the District to be undertaken at this time (the “Improvement Area #4 Projects”) include: roadway and paving improvements, storm drainage improvements, retention ponds, sanitary sewer improvements, water improvements, acquisition of real property in connection with such improvements, related soft and miscellaneous costs and district formation costs. The current estimated costs of the Improvement Area #4 Projects are approximately $283,827. The total cost of the Improvement Area #4 Projects, plus Improvement Area #4’s allocable share of the costs of establishing, administering and operating the District and issuing related bonds, including debt service reserve funds, capitalized interest and other costs of issuance (collectively, the “Improvement Area #4 Authorized Improvements”) is expected to be approximately $500,000. The exact amount will be provided in the approved service and assessment plan.The general nature of the proposed public improvements benefitting Improvement Area #5 of the District to be undertaken at this time (the “Improvement Area #5 Projects”) include: roadway and paving improvements, storm drainage improvements, retention ponds, sanitary sewer improvements, water improvements, acquisition of real property in connection with such improvements, related soft and miscellaneous costs and district formation costs. The current estimated costs of the Improvement Area #5 Projects are approximately $514,116. The total cost of the Improvement Area #5 Projects, plus Improvement Area #5’s allocable share of the costs of establishing, administering and operating the District and issuing related bonds, including debt service reserve funds, capitalized interest and other costs of issuance (collectively, the “Improvement Area #5 Authorized Improvements”) is expected to be approximately $1,000,000. The exact amount will be provided in the approved service and assessment plan.The boundaries of the District include approximately 122.243 acres of land generally located north of Shahan Prairie Road, south of Martop Road, west of Wildridge Master Planned Community, and east of FM 720, located within the corporate boundaries of the City, as more particularly described by a metes and bounds description available at Oak Point City Hall, 100 Naylor Road, Oak Point, Texas 75068 and available for public inspection.All written or oral objections on the proposed assessments within the District will be considered at the public hearing.A copy of the proposed (i) Improvement Area #2 Assessment Roll, which includes the assessments proposed to be levied against each parcel of land within Improvement Area #2 of the District that benefits from the Improvement Area #2 Authorized Improvements, (ii) Improvement Area #3 Assessment Roll, which includes the assessments proposed to be levied against each parcel of land within Improvement Area #3 of the District that benefits from the Improvement Area #3 Authorized Improvements, (iii) Improvement Area #4 Assessment Roll, which includes the assessments proposed to be levied against each parcel of land within Improvement Area #4 of the District that benefits from the Improvement Area #4 Authorized Improvements, and (iv) Improvement Area #5 Assessment Roll, which includes the assessments proposed to be levied against each parcel of land within Improvement Area #5 of the District that benefits from the Improvement Area #5 Authorized Improvements, are available for public inspection at the office of the City Secretary, 100 Naylor Road, Oak Point, Texas 75068.
drc 05/02/2026