TaxType: Mello-Roos Community Facilities District

Summary:
Community Facilities District No. 10, Improvement Area F was established pursuant to the Mello-Roos Community Facilities Act of 1982. Qualified electors authorized the district in 2001 along with the issuance of in bonded indebtedness. Bonds were issued to pay for certain public facilities and/or services that benefit the district. A special tax is levied on properties in the district to pay the interest and principal on the bonds as well as administrative expenses.


Facilities:
Proceeds from the sale of Bonds and the special taxes collected will be used to finance non-school facilities and school facilities. Non-school facilities to be funded by IA F of CFD No. 10 include the construction of Camino Ruiz, Street "A", Street "B", and the Camino Ruiz/State Route 56 interchange. IA F of CFD No. 10 is also authorized to fund elementary school, middle school, high school, central administrative/support facilities, interim housing and supplemental school facilities to serve students generated from residential units constructed within the boundaries of IA F of CFD No.10.


Services:
None


Calculation:
Each fiscal year, the School District calculates the special tax to be levied against taxable property within IA F of CFD No.10 based on the provisions of the Rate and Method of Apportionment adopted during the formation of IA F of CFD No.10. The Rate and Method of Apportionment defines two (2) categories of taxable property, "Developed Property" and "Undeveloped Property". Developed Property is in turn divided into two (2) separate rate classifications which vary with unit size.


Increases:
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..


How Long:
The Annual Special Tax shall be levied for a term of thirty-four (34) Fiscal Years after the issuance of Non-School Bonds by IA F of CFD No. 10, but in no event shall the Annual Special Tax be levied later than Fiscal Year 2050/2051.