AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 07/01/2020
TO: Honorable Mayor and City Council Members
FROM: Administrative Services Department
SUBJECT:
Title
City Council consideration of Resolution No. 2020-068, levying special taxes to be collected during Fiscal Year 2021 for Community Facilities District No. 2018-2 (Sierra Bella), Special Tax A.
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RECOMMENDED ACTION:
Recommended action
That the City Council adopt Resolution No. 2020-068, levying special taxes to be collected during Fiscal Year 2021 for the payment of administrative expenses incurred in connection with the levy and collection of special taxes, the establishment of the reserve fund, and the collection and accumulation of funds for the acquisition or construction of certain public facilities within Community Facilities District No. 2018-2 (Sierra Bella) Special Tax A.
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ANALYSIS:
It is necessary that the City Council levy special taxes for the payment of administrative expenses incurred in connection with the levy and collection of special taxes, the establishment of the reserve fund, and the collection and accumulation of funds for the acquisition or construction of certain public facilities within Community Facilities District No. 2018-2 Special Tax A (the "District"), pursuant to Section 53340 of the Government Code.
Special taxes within the District are levied in an amount necessary to satisfy the Special Tax Requirement, as defined in the District's Rate and Method of Apportionment (RMA). Any necessary replenishment or expenditure of the reserve funds and an amount estimated for administrative expenses during the year are included in the levy. The special taxes levied will not exceed the authorized amounts as provided in the RMA.
A summary of the special tax levy for the District is shown below:
COMMITTEE ACTION:
Not applicable.
STRATEGIC PLAN:
This item supports the City's Strategic Plan Goal 6: Improve Communications with Our Community; Objective a:...
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