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Facilities District, is therefore authorized to take the necessary <br />1 action to have the Community Facilities District incur a bonded <br />2 indebtedness in an amount not to exceed $10,000,000, and to <br />3 annually levy special taxes on parcels of taxable property in the <br />4 Community Facilities District in amounts sufficient to pay the <br />5 principal of and interest on the bonds of the Community Facilities <br />6 District; and (x) an appropriations limit has been established for <br />7 the Community Facilities District in the amount of $2,500,000. <br />8 Section 2. Declaration of Results. All votes voted in <br />9 the consolidated special elections on the propositions with <br />10 respect to the Community Facilities District incurring a bonded <br />11 indebtedness in an amount not to exceed $10,000,000, the annual <br />12 levy of special taxes on parcels of taxable property in the <br />13 Community Facilities District to pay the principal of and interest <br />14 on the bonds thereof, and the establishment of an appropriations <br />15 limit in the amount of $2,500,000 for the Community Facilities <br />16 District were voted in favor thereof, and all such propositions <br />17 carried. <br />18 Section 3. Effect of Elections. The effect of the <br />19 results of said consolidated special elections, as specified in <br />20 Section 2 hereof, is that the City Council, as the legislative <br />21 body of the Community Facilities District, is authorized to have <br />22 the Community Facilities District incur a bonded indebtedness in <br />23 an amount not to exceed $10,000,000 for the purposes set forth in <br />24 Proposition A of the Official Ballot for said consolidated special <br />25 elections, and, after the Community Facilities District has <br />26 incurred such bonded indebtedness and issued bonds therefor, to <br />27 annually levy special taxes on parcels of taxable property in the <br />28 <br />-4- <br />