Resolution No. 4464.

Mello-Roos

Acting as the legislative body for Community Facilities District Nos. 1, 2, 3, 4, 5, 6, 8, 9A, 9B, 10, 11, 12, 13, 14, 15, 16, 17, and 18.

Adopt Resolution No. 4464, Amending the Special Tax Levy for Fiscal Year 2016–2017 for Community Facilities District Nos. 1 through 6, 8, 9A, 9B and 10 thorough 18 (“CFDs”).

On August 8, 2016, the board previously considered and adopted Resolution No. 4439, which accomplished two purposes.  The first such purpose was to establish the “Maximum Initial Year Special Tax Rates” to be established for fiscal year 2016-2017 for each of the CFDs applicable to “Taxable Property” in such CFDs for fiscal year 2016-2017, if such is for first year in which such properties are classified as developed property (“Category 1 Property”) as hereby determined and established on Exhibit “A” to Resolution No. 4464.  The second purpose was to levy the Special Taxes for fiscal year 2016–2017 for each of the CFDs in amounts determined as a percentage of the amounts shown on Exhibit “A” hereto on the basis of the percentages shown on Exhibit “B” to Resolution No. 4439, subject to the adjustment thereof as to the 2008 General Obligation Bonds of the Sweetwater Union High School District as provided in Resolution No. 4439.  The levy of the Special Taxes included payment of (i) principal and interest due on outstanding debt of the district, (ii) direct funding of additional authorized “School Facilities,” and (iii) administration expenses of the CFDs.

In regard to this Resolution No. 4464, an administrative entry as to the Maximum Initial Year Special Tax Rates for the CFDs needs to be revised in order to be consistent with the “Formation Documents” of the CFDs.