Root Creek Water District CFD 2016-1 special tax

“The purpose of CFD No. 2016-1 is to provide for the cost of (1) construction and acquisition to provide capacity in the water system and/or sewer system and/or storm drain system ("Facilities"), (2) paying principal and interest on bonds sold to finance the Facilities, and (3) incidental expenses related to financing, forming and administering CFD No. 2016-1.”

“The Root Creek Water District has two sources of funding for the construction of its municipal utility systems – connection fees and Community Facilities District taxes. Annual tax revenues are planned to be used to support bond issuances, the proceeds of which will be used to fund major capital improvements.”

“The bonds are secured by a special tax levied on the Riverstone property within the CFD boundary. The special tax, in turn, is secured by a lien on the Riverstone property and the threat of foreclosure if there is a payment delinquency.”

2016-09-14

“On August 10, 2016, the District's Board of Directors ("the Board") adopted a Resolution of intention to form CFD No. 2017-1, including Improvement Area No. 1 ("IA No. 1") and Future Annexation Areas, to authorize the levy of a special tax. After conducting a noticed public hearing on September 14, 2016, the Board adopted resolutions establishing CFD No. 2016-1, providing for a special tax, and approving the proposed rate and method of appointment of the special tax.”

“IV. TAX COLLECTION INFORMATION A. Total Amount of Special Taxes Due Annually $309,142.40 ... C. Does this agency participate in the County's Teeter Plan? N ... V. DELINQUENT REPORTING INFORMATION Delinquent Parcel Information Reported as of Equalized Tax Roll of: 10/4/2021”