Report Prepared by: Ken Elwin, Director of Public Works and Bradley R. Grant, Finance Officer
Title
SUBJECT: Fiscal Year 2016-17 Annual Special Tax Rates for Community Facilities District (CFD) No. 2003-2 (Services)
REPORT IN BRIEF
Consider setting the Annual Special Tax Rates for Fiscal year 2016-17 for Community Facilities District (CFD) No. 2003-2 (Services) for the City of Merced.
RECOMMENDATION
City Council - Adopt a motion approving Resolution No. 2016-21, 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 2016-17.
Body
ALTERNATIVES
1. Approve, as recommended by staff; or,
2. Approve, subject to other than recommended by staff (identify specific findings and/or conditions amended to be addressed in the motion); or,
3. Deny; or,
4. Refer to staff for recommendation of specific items (specific items to be addressed in the motion); or,
5. Continue to a future meeting (date and time to be specified in the motion).
AUTHORITY
In accordance with Ordinance 2144, set the annual tax rates for the fiscal year 2016-17 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 2016-17 Adopted Budget.
DISCUSSION
Pursuant to the Mello-Roos Community Facilities District Act of 1982 and the City's Policies, the City Council formed the District on January 5, 2004. A successful election was conducted to levy special taxes within the District. On January 20, 2004, the City adopted Ordinance No. 2144, which levied the special tax and specified that the...
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