1989 RES R-123-89 - Laserfiche WebLink

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Section 9. The Council finds that there is not an ad valorem property tax currently being levied on property within proposed Community Facilities District No. 89-2 for the exclusive purpose of paying principal of or interest on bonds or other indebtedness incurred to finance construction of capital facilities which provide the same services to the territory of Community Facilities District No. 89-2 as are proposed to be provided by the capital facilities to be financed and constructed by Community Facilities District No. 89-2. Section 10. An appropriation limit for CFD 89-2 is hereby proposed as an amount equal to all the proceeds of the special tax collected annually and as defined by Article XIIIB of the California Constitution, as adjusted for changes in the cost of living and changes in population. Section 11. Written protests have not been filed by fifty -percent (50%) or more of the registered voters or prop- erty owners of one-half (1/2) or more of the area of land within proposed Community Facilities District No. 89-2. Section 12. The proposed special tax to be levied in Community Facilities District No. 89-2 to pay for all the proposed services and Facilities has not been precluded by majority protest of the registered voters residing within the territory of Community Facilities District No. 89-2 pursuant to Government Code Section 53324 or the owners of one-half (1/2) or more of the area of land within Community Facilities District No. 89-2.