TaxType: Mello-Roos Community Facilities District

Summary:
Community Facilities District No. 6, Impv Area B (the 'Community Facilities District' or the 'CFD') was formed and established by the Poway Unified School District in 2002 pursuant to the Mello-Roos Community Facilities Act of 1982 following a public hearing and a landowner election at which the qualified electors of the Community Facilities District, by more than a two-thirds majority vote, authorized the City to issue bonds on behalf of the Community Facilities District in an amount not to exceed $30,000,000 and to approve the levy of special taxes (the 'Special Tax') pursuant to a Rate and Method of Apportionment of Special Tax (the 'Rate and Method').


Facilities:
Proceeds from the sale of Bonds and the special taxes collected will be used to finance road, water, sewer, drainage, fire station, park, public library, additional school facilites and other public facilities.


Services:
None


Calculation:
Each parcel is assigned a maximum special tax, which is typically based on development status, property use, and/or size of improvements. The actual annual special tax is based on the interest and principal due on the bonds for the current fiscal year, services costs, if any, and administrative expenses. However, the actual annual special tax cannot exceed the applicable maximum special tax.


Increases:
Each July 1, commencing July 1, 2003, the Assigned Annual Special Tax applicable to an Assessor's Parcel of Developed Property shall be increased by 2.00% of the amount in effect in the prior Fiscal Year..


How Long:
The Annual Special Tax shall be levied for a term of thirty-three (33) Fiscal Years after the issuance of Bonds by IA B of CFD No. 6, but in no event shall the Annual Special Tax be levied after Fiscal Year 2043-44.