HomeMy WebLinkAboutEMCFD 2017-01RESOLUTION EMCFD 2017-01
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, 2017, AND ENDING JUNE 30, 2018,
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 (the "District") for
the fiscal year 2017-18. 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 2017-18 Annual Budget for the District; said hearing to be conducted on June 1,
2017, at the hour of 6:25 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
15, 2017, at the same time and place.
PASSED AND ADOPTED by the Board of Directors of the Eagle Mountain
Community Facilities District on May 4, 2017.
mda M. Kav nagh, Dis rct Chairperson
ATTEST:
APP VED AS TO FORM:
Andrew J. McGuire, District Counsel
2955454.1
EXHIBIT A
TO
RESOLUTION EMCFD 2017-01
[Notice/Tentative Budget]
See following page.
2955454.1
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 1, 2017, at 6:25 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 Eagle Mountain
Community Facilities 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 2017-18 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 2017-18 District budget may be viewed prior to the June 1, 2017, 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 2017-18
R evenueq
Tax Levy at $1.3 05 8 per $100 Limited Property Value
Assessed Valuation
Interest Earnings
TOTAL
Expenses
Annual Debt Service Payment on Refunded Bonds
Administrative Costs
TOTAL
2955454.1
For the Year Ended
June 30, 2018
$3729746
1?n
$407,456
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