CFD Villago - Includes Action Taken


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    F.2       
Meeting Date: 06/20/2016  
Recommended by: Doug Sandstrom Prepared by: Jeffrey Graves, Budget Analyst
Finance Director Review: Doug Sandstrom  
City Attorney Review: Brett Wallace  
Approved by: Jim Thompson Date Submitted: 05/13/2016
Type of Action Requested: Resolution

SUBJECT:
Adoption Of The FY2016-2017 Property Tax Rate In The Amount Of $2.30 Per $100 Of Assessed Valuation For The Villago Community Facilities District.
RECOMMENDATION:
Adopt resolution establishing the FY2017 property tax rate at $2.30 per $100 of assessed valuation for the Villago Community Facilities District.
DISCUSSION:
The Villago Community Facilities District Budget is specifically designed to pay existing debt service, expenditures of the district and to program reserves. All expenditures of the district are intended to be paid by the property tax. This action is a continuation of the existing $2.30 property tax rate. The tax rate includes an operational component ($0.30) and a General Obligation Bond component ($2.00). It is the intent of this action to adopt the rate and collect the corresponding estimated tax levy. Adoption of the resolution directs Pinal County to collect the $2.30 rate and adjust the estimated levy as appropriate.

A public hearing has been held and all the required notice has been published in the local paper as specified and the Board. This action will establish the tax rate for the District for FY2016-2017.
FISCAL IMPACT:
Revenues of the District are directly dependent upon the adoption of the tax rate and corresponding tax levy.
ALTERNATIVES:
N/A
Attachments
Resolution - Approving Tax Levy for FY2016-17

  

    

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