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HEARING - Auditor-Controller recommending the Board:
1) Adopt and authorize the Chair to sign the following Resolutions completing the formation process for El Dorado County Community Facilities District No. 2025-1 (Promontory South):
a) Resolution of Formation of Community Facilities District 118-2025, to which are attached two exhibits as follows: Exhibit A - List of Facilities and Exhibit B - Rate and Method of Apportionment;
b) Resolution 119-2025 Determining Necessity to Incur Bond Indebtedness;
c) Resolution 120-2025 Calling Special Landowner Election, to which is attached a form of the Ballot; and
d) Resolution 121-2025 Declaring Results of Special Landowner Election and Directing Recording of Notice of Special Tax Lien, to which is a form for the Board Clerk's use in canvassing the election results; and
2) Approve the Introduction (First Reading) of Ordinance 5239 Levying Special Taxes for Community Facilities District 2025-1 (Promontory South), waive full reading of the Ordinance, read by title only, and continue this matter to the next regular meeting of the Board for Final Passage (Second Reading).
FUNDING: N/A
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DISCUSSION / BACKGROUND
On July 22, 2025, the Board adopted Resolution 096-2025, a Resolution of Intention setting forth the intention to establish Community Facilities District 2025-1 (Promontory South) and stating the County's intention to levy a special tax to pay for the acquisition, construction, and associated costs of the public facilities, and to issue bonds in an amount not to exceed $35 million for the Community Facilities District (CFD). The boundary of the CFD showing the area initially to be taxed, the formula for calculation of the special tax, and the list of authorized facilities were specified in the Resolution of Intention and are shown on a recorded boundary map. The Resolution also set August 26, 2025, as the date for a hearing on the matters set forth therein, and on that date the CFD formation process is elig...
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