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Home My WebLink AboutEMCFD.2019.0507.Agenda NOTICE OF MEETING SPECIAL MEETING EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT BOARD District Board Chairman Ginny Dickey Vice Chairman Art Tolis Director Alan Magazine Director Dennis Brown Director Mike Scharnow Director Sherry Leckrone Director David Spelich TIME: 5:25 P.M. — SPECIAL MEETING WHEN: TUESDAY, MAY 7, 2019 WHERE: FOUNTAIN HILLS TOWN HALL — COUNCIL CHAMBERS 16705 E. AVENUE OF THE FOUNTAINS, FOUNTAIN HILLS, AZ Directors of the District Board of the Eagle Mountain Community Facilities District will attend either in person or by telephone conference call; a quorum of the Town's various commission, committee or board members may be in attendance at the meeting. Notice is hereby given that pursuant to A.R.S. §1-602.A.9, subject to certain specified statutory exceptions, parents have a right to consent before the State or any of its political subdivisions makes a video or audio recording of a minor child. Meetings of the District Board of the Eagle Mountain Communities Facilities District are audio and/or video recorded and, as a result, proceedings in which children are present may be subject to such recording. Parents, in order to exercise their rights may either file written consent with the Town Clerk to such recording, or take personal action to ensure that their child or children are not present when a recording may be made. If a child is present at the time a recording is made, the Town will assume that the rights afforded parents pursuant to A.R.S. §1-602.A.9 have been waived. 1. CALL TO ORDER—District Chairman Ginny Dickey 2. ROLL CALL—District Chairman Ginny Dickey 3. CONSIDERATION OF approving the Eagle Mountain Community Facilities District Board Meeting Minutes of June 19, 2018. 4. PUBLIC HEARING AND CONSIDERATION OF Resolution EMCFD 2019-01 approving the Tentative Budget of the District for the Fiscal Year beginning July 1, 2019, and ending June 30, 2020, and setting a hearing date for the budget and tax levy. 5. ADJOURNMENT DATED this 2nd day of May, 2019. lizabet urke, M C, o Clerk TOWN OF FOUNTAIN HILLS SPECIAL SESSION OF THE DISTRICT BOARD OF THE EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT IEMCFD] June 19,2018 CALL TO ORDER AND ROLL CALL District Chair Linda M. Kavanagh called the Special Session to order at 5:30 p.m. in the Fountain Hills Town Hall Council Chambers. ROLL CALL — Present for roll call were the following members of the District Board of the Eagle Mountain Community Facilities District: Chair Linda M. Kavanagh, Vice Mayor Dennis Brown, Boardmember Nick DePorter, Boardmember Henry Leger(attended via teleconference call), Boardmember Art Tolis, Boardmember Alan Magazine. District Manager Grady E. Miller, District Board Interim Attorney Mitesh V. Patel, and District Clerk Bevelyn Bender were also present. CALL TO THE PUBLIC District Clerk Bender advised that there were no citizens wishing to speak at this time. AGENDA ITEM#1 —CONSIDERATION OF APPROVING THE EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT BOARD MEETING MINUTES OF JUNE 5,2018. Vice Chair Brown MOVED and Boardmember Magazine SECONDED a motion to approve the meeting minutes of the June 5,2017 Eagle Mountain Community Facilities District Board meeting. Ms.Bender advised that there were no citizens wishing to speak at this time. The motion CARRIED UNANIMOUSLY by those members present(6-0). AGENDA ITEM #2 —CONSIDERATION OF RESOLUTION EMCFD 2018-03, LEVYING UPON THE ASSESSED VALUATION OF THE PROPERTY WITHIN THE DISTRICT SUBJECT TO AD VALOREM TAXATION A CERTAIN SUM UPON EACH ONE HUNDRED DOLLARS ($100.00) OF VALUATION SUFFICIENT TO RAISE THE AMOUNTS ESTIMATED TO BE REQUIRED IN THE ANNUAL BUDGET, SPECIFICALLY FOR THE PURPOSE OF PAYING PRINCIPAL AND INTEREST UPON BONDED INDEBTEDNESS; ALL FOR FISCAL YEAR BEGINNING ON JULY 1, 2017, AND ENDING ON JUNE 30,2018. District Manager Miller called upon Finance Director Rudolphy to provide a brief report. Mr.Rudolphy stated that the Eagle Mountain Community Facilities District issued bonds in 1996 to repay the costs associated with the infrastructure improvements. He stated the bonds were repaid annually from an ad valorem tax collected from the residents in the community and reported that the 2018 assessed valuation was estimated at$29,859,894.00 with the debt service for fiscal year 2018/19-$405,768;therefore,a tax levy of approximately$1.3724 per$100 of assessed valuation (compared to last year @ $1.2877) will provide sufficient revenue for the annual debt service payment and administrative costs. Mr. Rudolphy noted the bonds would be retired in FY2021. In response to a question from the Chair,Ms.Bender advised there were no citizens wishing to speak at this time. Chair Kavanagh requested a motion. Vice Chair Brown MOVED to approve Resolution EMCFD 2018-03 and Boardmember Magazine SECONDED the motion,which CARRIED UNANIMOUSLY by those members present(6 -0). e:\emcfd\emcfdc.2018.0619.minutes.docx Page 1 of 3 AGENDA ITEM#3—ADJOURNMENT. Vice Chair Brown MOVED to adjourn the meeting at 5:33 p.m. and Boardmember DePorter SECONDED the motion,which CARRIED UNANIMOUSLY by those members present(6-0). TOWN OF FOUNTAIN HILLS/EMCFD BOARD By _Ginny Dickey,District Chairman ATTEST: Elizabeth A.Burke,District Clerk CERTIFICATION I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the Special Session of the Eagle Mountain Community Facilities District (EMCFD) held on the 19th day of June 2018, in the Fountain Hills Town Hall Council Chambers. I further certify that the meeting was duly called and that a quorum was present. DATED this 7th day of May, 2019. Elizabeth A.Burke,District Clerk e:\emcfd\emcfdc.2018.0619.minutes.docx Page 2 of 3 TOWN OF FOUNTAIN HILLS .# 1k1N 'Y Eagle Mountain Community Facilities District 44° 1014 e,p AGENDA ACTION FORM l 94,rb�r-......is `tioo Meeting Date: 5/7/2019 Meeting Type: Special Session Agenda Type: Regular Submitting Department: Administration Staff Contact Information: Craig Rudolphy, District Finance Director, 480-816-5162, crudolphy@fh.az.gov REQUEST TO DISTRICT BOARD (Agenda Language): 1. PUBLIC HEARING regarding RESOLUTION EMCFD 2019-01 approving the Tentative Budget of the District for the fiscal year beginning July 1, 2019, and ending June 30, 2020, and setting a hearing date for the budget. 2. CONSIDERATION of RESOLUTION EMCFD 2019-01 APPROVING the Tentative Budget of the District for the fiscal year beginning July 1, 2019, and ending June 30, 2020, and setting a hearing date for the budget. Applicant: Applicant Contact Information: Property Location: Related Ordinance, Policy or Guiding Principle: Staff Summary(background): The Eagle Mountain Community Facilities District was formed by the Town Council in FY 1996 for the purpose of constructing infrastructure in the Eagle Mountain subdivision. The Town Council serves as the governing Board for the District. The annual expenditures for the District are for repayment of the bonds that were issued to pay for the subdivision infrastructure. The annual cost is repaid through ad valorem taxes collected from the property owners within the District; the levy is estimated to be $1.3541/$100 of limited property(primary) assessed valuation(compared to $1.3723/$100last year). Risk Analysis (options or alternatives with implications): Fiscal Impact(initial and ongoing costs;budget status): $413,282 Budget Reference (page number): pp 329, 334 Funding Source: NA If Multiple Funds utilized,list here: Budgeted; if No, attach Budget Adjustment Form: Y ® N ❑ Staff Recommendation(s): Approve List Attachment(s): Resolution EMCFD 2019-01 Page 1 of 2 SUGGESTED MOTION (for District Board use): Move to approve Resolution EMCFD 2019-01. Prepared by: NA 4/29/2019 Directo 's Approval: Craig •udolpT,District inanc Direc r 4/29/2019 Appr Grady E.Miller,Di ' nager 4/29/2019 Page 2 of 2 RESOLUTION EMCFD 2019-01 A RESOLUTION OF THE BOARD OF THE EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT, MARICOPA COUNTY, ARIZONA, APPROVING THE TENTATIVE BUDGET OF THE DISTRICT FOR THE FISCAL YEAR BEGINNING JULY 1, 2019, AND ENDING JUNE 30, 2020, AND SETTING A HEARING DATE FOR THE BUDGET. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT, as follows: SECTION 1. The statements and schedules attached hereto as Exhibit A and incorporated herein by this reference are hereby approved for the purpose as hereinafter set forth as the tentative budget for the Eagle Mountain Community Facilities District, Maricopa County, Arizona (the "District") for the fiscal year 2019-20. The statements and estimates of the operation and maintenance expenses of the District and the amount needed to pay general obligation bonds of the District(collectively, the"District Expenditures"),which are to be paid from ad valorem taxes collected in the District, are hereby filed with the District Clerk. SECTION 2. The District Clerk is hereby authorized and directed to cause to be(i)mailed to the governing body of the Town of Fountain Hills and (ii) published in the manner prescribed by law, a notice in substantially the form attached hereto as Exhibit A, that the District Board will meet for the purpose of conducting a final hearing for District taxpayers on the statements and estimates of District Expenditures filed with the District Clerk and on the adoption of the 2019-20 Annual Budget for the District; said hearing to be conducted on June 4, 2019, at 5:25 p.m. in the District offices (the Council Chambers at Fountain Hills Town Hall), 16705 E. Avenue of the Fountains, Fountain Hills, Arizona, 85268. At the conclusion of the hearing, the District Board shall pass upon any objections and shall adopt the Final Budget for the District; final approval of the Tax Levy for the District shall follow on June 18, 2019, at the same time and place. PASSED AND ADOPTED by the Board of Directors of the Eagle Mountain Community Facilities District on May 7, 2019. Ginny Dickey, District Chairperson ATTEST: Elizabeth A. Burke, District Clerk APPROVED AS TO FORM: Aaron D. Arnson, Pierce Coleman PLLC District Counsel NOTICE EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT PROPERTY OWNERS The taxpayers of the Eagle Mountain Community Facilities District (the "District") are hereby notified that the Board of Directors will hold a public meeting on June 4,2019, at 5:25 p.m. at the District offices located at 16705 E. Avenue of the Fountains, Fountain Hills, Arizona (the Council Chambers at Fountain Hills Town Hall), when and where any taxpayers of the District will be heard in favor of, or against, any of the proposed expenditures for the District, after which the foregoing estimates as modified or as now existing, will be adopted by the Board of Directors as the basis for the fiscal year 2019- 2020 budget. Taxpayers may file written objections at any time prior to the hearing, and the Board of Directors shall hear and pass upon any objections at the hearing. Copies of the tentative fiscal year 2019-2020 District budget may be viewed prior to the June 4, 2019, meeting at the District Clerk's office, 16705 E. Avenue of the Fountains, Fountain Hills, Arizona 85268, the Town of Fountain Hills website, www.fh.az.gov, and the Fountain Hills branch of the Maricopa County Library, 12901 N. LaMontana Drive, Fountain Hills, Arizona 85268. EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT PROPOSED BUDGET FISCAL YEAR 2019-2020 For the Fiscal Year Ended Revenues June 30, 2020 Tax Levy at$1.3541 per$100 Limited Property Value Assessed Valuation $413,042 Interest Income 240 TOTAL $413,282 Expenses Annual Debt Service Payment on Refunded Bonds $408,992 Administrative Costs 200 TOTAL $409,192