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Executive Session pursuant to Texas Government Code § 551.071 and Texas Disciplinary Rules of Professional Conduct Rule 1.05 to consult with attorneys concerning legal matters related to the Caroline Heights Subdivision, provisions of Texas law related to the right to annex property into the City limits, Chapter 43 of the Texas Local Government Code, and a requested Water Arterial Transmission Grid Main Construction and Reimbursement Agreement for up to $471,448.10 with Cypress Point Capital, LLC (“Developer”) for the construction of a water arterial transmission grid main line for a proposed residential and commercial development located South of Farm Road 2444 on County Road 43 with a completion date of within 24 months; transferring $76,510.32 from the Sewer Trunk System Trust and $79,036.81 from the Water Distribution Main Trust to the Water Arterial Transmission & Grid Main Trust Fund to reimburse $471,448.10 the Developer in accordance with the agreement and a potential ordinanc...
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