If one signs a plea deal granting a Stay of Adjudication, does the Court still conduct a Pre-Sentence Investigation and hold a Sentencing Hearing? I am under the impression that those events occur only in the case of a conviction.
Yes. Even though you will not be formally sentenced, the court still holds a sentencing hearing. The purpose is for the court to set out what the terms of the stay of adjudication will be.
A court may require a PSI to determine if it will agree to the Stay of Adjudication.