HomeMy WebLinkAboutEMCFD 2014-02RESOLUTION EMCFD NO.2014-02
A RESOLUTION OF THE BOARD OF THE EAGLE MOUNTAIN
COMMUNITY FACILITIES DISTRICT,APPROVING THE FINAL BUDGET
OF THE DISTRICT FOR THE FISCAL YEAR BEGINNING JULY 1,2014
AND ENDING JUNE 30,2015.
WHEREAS,pursuantto Ariz.Rev.Stat.§§48-715 and 48-716,onMay 1,2014,the
Board of Directors of theEagleMountainCommunityFacilitiesDistrict(the"Board")approved
ResolutionEMCFD2014-01,which(i)adoptedthe statements and schedules attachedas
ExhibitAandincorporatedhereinbythisreferenceasthetentativebudgetfortheEagle
MountainCommunityFacilitiesDistrict,MaricopaCounty,Arizona,(the"District")forthe
fiscalyear 2014-15 and(ii)authorized anddirectedtheDistrictClerktocausetobe(a)mailedto
the governing bodyoftheTownof Fountain Hillsand(b)published ina manner prescribed by
law,anoticethattheDistrictBoardwouldmeetonJune5,2014,forthepurpose of conductinga
finalhearingforDistricttaxpayersonthestatementsandestimates of theDistrict expenditures
filed with the District Clerk;and
WHEREAS,propernoticewasgivenbypublicationinthe Fountain Hills Times on
May7,2014,andMay14,2014;and
WHEREAS,in accordance with Ariz.Rev.Stat.§48-716andfollowingpublished
notice,apublichearingwasconductedonJune5,2013,atwhichhearinganytaxpayerwas
permitted toappearandbe heard regarding the 2014-15 annual budgetforthe District.
NOW,THEREFORE,BEIT RESOLVED bytheBoard of theEagleMountain
CommunityFacilitiesDistrict,MaricopaCounty,Arizona,asfollows:
SECTION1.Therecitalsaboveareherebyincorporatedasiffullysetforthherein.
SECTION 2.TheBoardhasheardallobjectionsandhasdeterminedthat(i)such
objections donot provide a basis for a modification ofthe statements and schedules attached
heretoasExhibitAand(ii)any informalities or irregularities whichmayhaveoccurredinthe
adoption process forthe District budget have been properly remedied.
SECTION 3.The statements and schedules attached hereto as Exhibit A and
incorporated herein bythis reference,are hereby approved for the purpose as hereinafter set forth
asthe final budget forthe Eagle Mountain Community Facilities District,Maricopa County,
Arizona,forthe fiscal year 2014-15.The statements and estimates ofthe operation and
maintenance expenses ofthe District,which aretobepaid from ad valorem taxes collected inthe
District,areherebyfiledwiththeDistrictClerk.
SECTION 4.TheDistrict Chairperson,theDistrictClerkandtheDistrictCounselare
hereby authorized and directed to take all steps necessary to carry out the purpose and intent of
this Resolution.
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PASSED AND ADOPTED bytheBoard of theEagleMountain Community Facilities
District,Maricopa County,Arizona,on June 5,2014.
ATTEST:
Hal
Bevelyn J.Bender,Epstrict Clerk
APPROVED AS TO FORM:
Andrew J.McGuire,District Counsel
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Lmtia M.Kavarragh,District Chairperson
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EXHIBIT A
TO
RESOLUTION EMCFD NO.2013-02
[Final Budget]
Seefollowingpage.
EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT
FINAL BUDGET
FISCAL YEAR 2014-2015
Revenues
For the Year Ended
30-Jun-15
TaxLevyat$1.6095per$100 Secondary
Assessed Valuation $430,248
Interest Earnings $600
TOTAL $430,848
Expenses
AnnualDebtService Payment onRefundedBonds $415,685
Administrative Costs $7,350
TOTAL $423T035
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