HomeMy WebLinkAboutEMCFD 2014-03RESOLUTION EMCFD NO.2014-03
A RESOLUTION OF THE BOARD OF THE EAGLE MOUNTAIN
COMMUNITY FACILITIES DISTRICT LEVYING UPONTHE ASSESSED
VALUATION OFTHE PROPERTY WITHINTHE DISTRICT SUBJECT TOAD
VALOREM TAXATION A CERTAIN SUM UPON EACH ONE HUNDRED
DOLLARS($100.00)OFVALUATIONSUFFICIENTTORAISETHE
AMOUNTS ESTIMATED TOBE REQUIRED IN THE ANNUAL BUDGET,
SPECIFICALLY FORTHE PURPOSE OF PAYING PRINCIPAL AND
INTERESTUPONBONDEDINDEBTEDNESS;ALLFORFISCALYEAR
ENDING ON JUNE 30,2015.
WHEREAS,in accordance with ARIZ.REV.STAT.§48-716 and following published
notice,public hearings were conducted on May 1,2014 and June 5,2014,at which hearings any
taxpayer was permitted to appear and be heard regarding the 2014-15 annual budget for the Eagle
Mountain Community Facilities District (the "District");thereafter,the District Board adopted
Resolution EMCFD 2014-02,approving the annual budget;and
WHEREAS,in accordance with ARIZ.Rev.STAT.§48-723,the District Board desires to
levy such amounts as necessary for the 2014-15 annual District budget.
NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF THE EAGLE
MOUNTAINCOMMUNITYFACILITIESDISTRICT,asfollows:
SECTION 1.The recitals above are hereby incorporated asif fully set forth herein.
SECTION 2.There is hereby levied oneachone hundred dollars ($100.00)ofthe assessed
value ofall taxable property,both real and personal,within the corporate limits ofthe District and
notexemptfrom taxation,anad valorem propertytaxrateof $1.6095,orsuchotherrateas
determined by the Maricopa County Treasurer to be sufficient to raise the aggregate amount of
$423,035.00,forthe purpose of paying principal and interest on bonded indebtedness forthe
District forthe fiscal yearendingJune 30,2015.
SECTION 3.No failure bythe County Official of Maricopa County,Arizona,to properly
return the delinquent listandno irregularity inthe assessment or omission inthesame,or
irregularity ofany kind in any proceedings shall invalidate such proceedings or invalidate any title
conveyed byanytax deed;failure or neglect ofany officer or officers to perform anyofthe duties
assigned tohimorto them shall not invalidate any proceedings orofany such deedorsaleor affect
the validity ofthe assessment and levy oftaxesorofthe judgment orsaleby which the collection of
thesamemaybe enforced orinany manner affectthelienofthe District upon such property forthe
delinquent taxes unpaid thereon,andno overcharge astopartofthetaxesorofcostsshall invalidate
anyproceedingsforcollecting of taxesortheforeclosure,andallacts of officersdefactoshallbe
validasifperformedbyofficersdejure.
SECTION4.Allresolutionsandparts of resolutionsinconflictwiththisResolutionare
herebyrepealed.
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SECTION 5.The District Clerk is hereby directed to transmit a certified copy of this
Resolution to the Board of Supervisors of Maricopa County,Arizona and to the Arizona
Department of Revenue.
SECTION 6.If any provision of this Resolution is for any reason held by any court of
competent jurisdiction tobe unenforceable,such provision of portion hereof shall be deemed
separate,distinct and independent of all other provisions and such holding shall not affect the
validity of theremainingportions of thisResolution.
SECTION7.TheDistrictChairperson,theDistrictClerkandtheDistrictCounselare
hereby authorized and directed to take all steps necessary to carry out the purpose and intent of
this Resolution.
PASSED AND ADOPTED by the Board of the Eagle Mountain Community Facilities
District,MaricopaCounty,Arizona,onJune 19,2014.
Lfi:
Linda Kavanagh/District Chairperson
ATTEST:
/mm JAjptXfojL^dlA
Bevelyn J.Bejhde^/District Clerk
APPROVED AS TO FORM:
Andrew J.McGuire,District Counsel
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EXHIBIT A
TO
RESOLUTION EMCFD NO.2014-03
[Final Budget]
Seefollowingpage.
EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT
FINAL BUDGET
FISCAL YEAR 2014-2015
Revenues
For the Year Ended
June 30,2015
TaxLevyat$1.6095per $100 Secondary
Assessed Valuation $430,248
Interest Earnings $600
TOTAL $430,848
Expenses
AnnualDebtServicePaymentonRefundedBonds $415,685
Administrative Costs $7,350
TOTAL $423,035
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