HomeMy WebLinkAboutEMCFD Res 2020-01 RESOLUTION EMCFD 2020-01
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, 2020, AND ENDING JUNE 30, 2021, 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 2020-21. 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 2020-21 Annual
Budget for the District; said hearing to be conducted on June 2, 2020, 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 16, 2020, at the same time and place.
PASSED AND ADOPTED by the Board of Directors of the Eagle Mountain Community Facilities
District on May 5, 2020.
bks
Ginn Dickey, District Chairperson
ATTEST:
Elizabeth A. O: e, District • erk
APPR c ED ; TO FORM:
aron D. Arr fierce Coleman PLLC
District Counsel
RESOLUTION EMCFD 2020-01 PAGE 2
EXHIBIT A
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 2, 2020, 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 2020-2021 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 2020-2021 District budget may be viewed prior to the
June 2, 2020, 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. La Montana Drive, Fountain Hills,
Arizona 85268.
EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT
PROPOSED 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