RES 2025-04 Calculating the MID 2024-25 Adopted
CITY OF NORTH AUGUSTA, SOUTH CAROLINA
A RESOLUTION
APPROVING THE ANNUAL ASSESSMENT REPORT AND AMENDMENT OF THE
ASSESSMENT ROLL FOR THE BALLPARK VILLAGE MUNICIPAL IMPROVEMENT
DISTRICT AND CONFIRMING THE COLLECTION OF ANNUAL ASSESSMENTS THEREIN
FOR THE 2024-2025 ASSESSMENT YEAR
ADOPTED BY
THE CITY COUNCIL
OF
THE CITY OF NORTH AUGUSTA, SOUTH CAROLINA
FEBRUARY 3, 2025
RESOLUTION 2025-04
APPROVING THE ANNUAL ASSESSMENT REPORT AND AMENDMENT OF THE
ASSESSMENT ROLL FOR THE BALLPARK VILLAGE MUNICIPAL IMPROVEMENT
DISTRICT AND CONFIRMING THE COLLECTION OF ANNUAL ASSESSMENTS
THEREIN
FOR THE 2024-2025 ASSESSMENT YEAR
The City Council (the “City Council”) of the City of North Augusta, South Carolina (the
“City”), hereby finds and determines:
WHEREAS, The Ballpark Village Municipal Improvement District (the “Improvement
District”), located in the City of North Augusta was created by the City Council pursuant to the
Municipal Improvement Act, Title 5, Chapter 37, Code of Laws of South Carolina 1976, as amended
(the “Act”), through an ordinance enacted on February 6, 2017, wherein the Improvement District
was created and special assessments (the “Assessment” or “Assessments”) were authorized to be
imposed and collected (the “Assessment Ordinance”); and
WHEREAS, certain capitalized terms undefined herein have such meanings as set forth in
the Rate and Method of Apportionment of Assessment, Appendix A of the Assessment Roll (the
“Rate and Method”), which was approved by the Assessment Ordinance; and
WHEREAS, the Assessments have been imposed on the Assessed Property within the
Improvement District pursuant to the Act and the Assessment Ordinance. The Assessment, including
the Annual Parcel Assessment, the Annual Parcel Credit and the Annual Payment for each Parcel, is
recorded on the Assessment Roll, attached hereto as Appendix B-1 and Appendix B-2 of the Annual
Assessment Report and Amendment of the Assessment Roll for 2024-2025 Assessment Year (the
“Annual Assessment Report”) attached hereto as Exhibit A, which is being updated in accordance
with the Rate and Method, as detailed below, through City Council’s approval of the Annual
Assessment Report; and
WHEREAS, pursuant to a Resolution of the Board of Directors (the “Board”) of the North
Augusta Public Facilities Corporation (the “Corporation”) adopted by the Board on February 20
2017, the Corporation issued its $69,450,000 Installment Purchase Revenue Bonds, Taxable Series
2017B, dated May 16, 2017 (the “Series 2017B Bonds”), in order to obtain a portion of the funds
necessary to defray the cost of the Public Improvements. Simultaneously with the issuance of the
Series 2017B Bonds, the City issued its $43,412,000 Tax Increment Revenue Obligation, Series
2017A to the Corporation (the “2017 TIF Obligation”). By Ordinance enacted on February 6, 2017,
the City Council approved the issuance of the Series 2017B Bonds and the 2017 TIF Obligation.
Debt service requirements of the Series 2017B Bond will be paid from Available Sources (as that
term is defined in the Official Statement dated May 2, 2017 (the “Official Statement”) relating to the
Series 2017 Bonds), which include TIF Revenues (as defined in the Official Statement) and
Assessments. Payments to the Corporation by the City pursuant to the 2017 TIF Obligation shall
constitute a dollar for dollar credit against the City’s obligation to make Base Payments (as defined
in the Official Statement); and
WHEREAS, in order to facilitate the collection of the Assessments, the City shall update
Appendix B-1 and B-2 of the Assessment Roll each Assessment Year to reflect (i) the current
Parcels in the Improvement District, (ii) the Assessment for each Parcel, including any adjustments
to the Assessment as provided for in Section C of the Rate and Method; (iii) the Annual Assessment;
(iv) the Annual Parcel Assessment for each Parcel, (v) the Annual Payment to be collected from each