REQUEST FOR CITY COUNCIL ACTION
DATE: 07/07/2021
TO: Honorable Mayor and City Council Members
FROM: Finance Department
SUBJECT:
Title
Resolution levying special taxes to be collected during Fiscal Year 2022 for the maintenance and services Community Facilities District No. 2001-1.
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EXECUTIVE SUMMARY:
Adoption of the recommended resolution will allow the City to levy and collect Fiscal Year 2022 special taxes.
RECOMMENDED ACTION:
Recommended action
That the City Council adopt Resolution No. 2021-078, levying special taxes to be collected during Fiscal Year 2022 for the payment of annual cost of the operation and maintenance of parkways and open space within Community Facilities District No. 2001-1.
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BACKGROUND & HISTORY:
Pursuant to the Mello-Roos Community Facilities Act of 1982, Community Facilities District No. 2001-1 (the "District") was formed to levy special taxes for the payment of annual cost of the operation and maintenance of parkways and open space within the District and the surrounding area, and for the payment of administrative expenses incurred in connection with the levy and collection of said special taxes.
ANALYSIS:
It is necessary that the City Council levy special taxes for the payment of annual cost of the operation and maintenance of parkways and open space within the District, pursuant to Section 53340 of the Government Code. Special taxes within the District are levied in an amount necessary to satisfy the Operation and Maintenance Special Tax Requirement, as defined in the District's Rate and Method of Apportionment (the "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.
FINANCIAL IMPACT:
The following is a summary of the Fiscal Year 2022 budgeted revenues and expenditures for the District:
The proposed lev...
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