HomeMy WebLinkAbout2018.0619.Minutes 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).
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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
II ,
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By dUAIV
_Ginny Ipickey, i'strict Chairman
ATTEST:
Elizabet . urke, Distri Clerk
CER ICATION
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. ilizabe urkrict erk
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