Title
FISCAL YEAR 2015-2016 PROPERTY TAX LEVY FOR CORTINACFD
body
RECOMMENDATION:
ADOPT RESOLUTION CORTINACFD RES 15-048 LEVYING UPON THE ASSESSED VALUATION OF THE PROPERTY WITHIN THE CORTINA COMMUNITY FACILITIES DISTRICT, SUBJECT TO AD VALOREM TAXATION A CERTAIN SUM UPON EACH ONE HUNDRED DOLLARS ($100.00) OF VALUATION SUFFICIENT TO RAISE THE AMOUNTS ESTIMATED TO BE REQUIRED IN THE ANNUAL BUDGET, FOR THE PURPOSE OF PAYING FOR VARIOUS OPERATING AND DEBT SERVICE EXPENSES; TO RAISE THE AMOUNT ESTIMATED TO BE REQUIRED IN THE ANNUAL BUDGET, LESS THE AMOUNT ESTIMATED TO BE RECEIVED FROM OTHER SOURCES OF REVENUE; PROVIDING FUNDS FOR VARIOUS BOND REDEMPTIONS, FOR THE PURPOSE OF PAYING PRINCIPAL AND INTEREST UPON BONDED INDEBTEDNESS; ALL FOR FISCAL YEAR ENDING THE 30TH DAY OF JUNE, 2016.
PURPOSE:
Arizona State law requires governmental agencies to adopt their property tax levy on or before the third Monday in August each year. The District Board adopted the final budget on June 15, 2015 for the Cortina Community Facilities District (City of Goodyear, Arizona) relating to Fiscal Year 2015-2106. The property tax levy is required to be adopted by the District Board. (Sheila Mills, Special Districts & Taxation Administrator)