Tax Bill Name:
POWAY UNIFIED CFD #6 IMP AREA C
Community Facilities District No. 6, Impv Area C
Documents on File: 21
TaxType: Mello-Roos Community Facilities District
Community Facilities District No. 6, Impv Area C (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 $14,000,000 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').
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 faciliites and other public facilities.
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.
The maximum special tax for the district increases two percent (2%) each fiscal year, while the actual annual special tax may vary with the needs of the district provided that the amount does not exceed the maximum special tax.
The Annual Special Tax shall be levied for a term of thirty three (33) Fiscal Years after the issuance of Bonds by IA C of CFD No. 6, but in no event shall the Annual Special Tax be levied after Fiscal Year 2045-46.