HomeMy WebLinkAboutEMCFD Res 2020-02 RESOLUTION EMCFD 2020-02
A RESOLUTION OF THE BOARD OF THE EAGLE MOUNTAIN COMMUNITY
FACILITIES DISTRICT, MARICOPA COUNTY, ARIZONA, APPROVING THE
FINAL BUDGET OF THE DISTRICT FOR THE FISCAL YEAR BEGINNING
JULY 1, 2020, AND ENDING JUNE 30, 2021
RECITALS:
WHEREAS, pursuant to ARIz. REV. STAT. §§ 48-715 and 48-716, on May 5, 2020, the Board of
Directors of the Eagle Mountain Community Facilities District (the "Board") approved
Resolution EMCFD 2020-01 , which (i) adopted statements and schedules attached as Exhibit
A and incorporated herein by this reference as the tentative budget for the Eagle Mountain
Community Facilities District, Maricopa County, Arizona, (the "District") for the fiscal year
2020-21 and (ii) authorized and directed the District Clerk to cause to be (a) mailed to the
governing body of the Town of Fountain Hills and (b) published in a manner prescribed by
law, a notice that the Board would meet on June 2, 2020, for the purpose of conducting a
final hearing for District taxpayers on the statements and estimates of the District
expenditures filed with the District Clerk; and
WHEREAS, proper notice was given by publication in the Fountain Hills Times on
May 13, 2020, and May 20, 2020; and
WHEREAS, in accordance with ARIz. REV. STAT. §48-716 and following published notice, a public
hearing was conducted on June 2, 2020, at which hearing any taxpayer was permitted to appear
and be heard regarding the 2020-21 annual budget for the District.
ENACTMENTS:
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE EAGLE
MOUNTAIN COMMUNITY FACILITIES DISTRICT, as follows:
SECTION 1. The recitals above are hereby incorporated as if fully set forth herein.
SECTION 2. The Board has heard all objections and has determined that (i) such objections do
not provide a basis for a modification of the statements and schedules attached hereto as Exhibit
A and (ii) any informalities or irregularities which may have occurred in the adoption process for
the District budget have been properly remedied.
SECTION 3. 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
final budget for the District for the fiscal year 2020-21. The statements and estimates of the
operation and maintenance expenses of the District, which are to be paid from ad valorem
taxes collected in the District, are hereby filed with the District Clerk.
SECTION 4. The District Chairperson, the District Clerk, and the District Counsel are hereby
authorized and directed to take all steps necessary to carry out the purpose and intent of this
Resolution.
RESOLUTION EMCFD 2020-02 PAGE 2
PASSED AND ADOPTED by the Board of Directors of the Eagle Mountain Community Facilities
District, Maricopa County, Arizona, this 2nd day of June, 2020.
, _ I
Ginny D' ey, Di trict Chair.-rson
ATTEST:
izabe Burke, District lerk
APP VED AS TO FORM:
aron D. Arnson, Pierce Coleman PLLC
District Counsel
RESOLUTION EMCFD 2020-02 PAGE 3
EXHIBIT A
TO
RESOLUTION EMCFD 2020-02
[Final Budget]
EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT
FINAL BUDGET
FISCAL YEAR 2020-2021
For the Fiscal Year Ended
Revenues June 30, 2021
Tax Levy at $1.2189 per$100 Limited Property Value
Assessed Valuation $390,759
Interest Income 240
TOTAL $390,999
Expenses
Annual Debt Service Payment on Refunded Bonds $407,040
Administrative Costs 200
TOTAL $407,240