HomeMy WebLinkAboutEMCFD.2019.01.Resolution 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 ,ickey, District Chai rson
ATTEST:
El'zabeth . urke, District Cl
APPR D 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