Report Prepared by: Melanie Karle, Accountant II
Title
SUBJECT: Adoption of a Resolution Authorizing Fiscal Year 2024-25 Annual Special Tax Rates for Community Facilities District (CFD) No. 2003-2 (Services)
REPORT IN BRIEF
Considers adopting a Resolution setting the Annual Special Tax Rates for Fiscal Year 2024-25 for Community Facilities District (CFD) No. 2003-2 (Services) for the City of Merced.
RECOMMENDATION
City Council - Adopt a motion adopting Resolution 2024-63, a Resolution of the City Council of the City of Merced, California, Acting as the Legislative Body of the Community Facilities District No. 2003-2 (Services) of the City of Merced, Authorizing the Establishment of an Annual Special Tax for Said District for Fiscal Year 2024-2025.
Body
ALTERNATIVES
1. Approve, as recommended by staff; or,
2. Approve, subject to other than recommended by staff (identify); or,
3. Deny; or,
4. Refer back to staff for consideration of specific items as requested by Council; or,
5. Continue to a future meeting.
AUTHORITY
In accordance with Ordinance 2144, set the annual special tax rates for the fiscal year 2024-25 for the Community Facilities District No. 2003-2 (Services) (the "District") pursuant to Chapter 2.5 (commencing with Section 53311) of Part 1 Division 2 of Title 5 of the California Government Code (the "Act"), commonly known as the "Mello-Roos Community Facilities Act of 1982."
CITY COUNCIL PRIORITIES
As provided for in the proposed FY 2024-25 Budget
DISCUSSION
Pursuant to the Mello-Roos Community Facilities District Act of 1982 and the City's Policies, the City Council formed Community Facilities District No. 2003-2 (Services), the "District" on January 5, 2004. A successful election was conducted to levy special tax within the District. On January 20, 2004, the City adopted Ordinance No. 2144, which authorized the levy of special tax within the boundaries of the District and specified annually, by June 30th, the City Council by resolut...
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