Title
HEARING - Auditor-Controller recommending the Board adopt and authorize the Chair to sign the following Resolutions that are on file in the Board Clerk’s Office related to the formation of El Dorado County Community Facilities District No. 2018-1 (Bass Lake Hills): (Cont. 7/17/2018, Item 3)
1) Resolution of Formation of Community Facilities District 171-2018, to which there are two exhibits as follows:
a) Exhibit A - List of Authorized Facilities; and
b) Exhibit B - Rate and Method of Apportionment
2) Resolution 172-2018 Determining Necessity to Incur Bonded Indebtedness;
3) Resolution 173-2018 Calling Election;
4) Resolution 174-2018 Declaring Results of Election; and
5) Ordinance 5089 to Levy Special Taxes. (Est. Time: 5 Min.)
FUNDING: N/A
Body
DEPARTMENT RECOMMENDATION
HEARING
Auditor-Controller recommending the Board adopt and authorize the Chair to sign the following resolutions that are on file in the Board Clerk’s Office related to the formation of El Dorado County Community Facilities District No. 2018-1 (Bass Lake Hills): (Cont. 7/17/2018, Item 3)
1) Resolution of Formation of Community Facilities District 171-2018, to which there are two exhibits as follows:
a) Exhibit A - List of Authorized Facilities
b) Exhibit B - Rate and Method of Apportionment
2) Resolution 172-2018 Determining Necessity to Incur Bonded Indebtedness
3) Resolution 173-2018 Calling Election
4) Resolution 174-2018 Declaring Results of Election
5) Ordinance No. 5089 to Levy Special Taxes
DISCUSSION / BACKGROUND
In accordance with the County’s Development Agreements with Lennar Winncrest, LLC (the Developer), the County is required to assist the Developer in obtaining community facilities district (CFD) financing for a portion of the infrastructure needed for the Bass Lake Hills subdivisions.
On July 17, 2018, the Board adopted Resolution No. 147-2018 (Resolution of Intention to Form) and Resolution No. 148-2018 (Resoluti...
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