HomeMy WebLinkAbout14, Special Tax Resolutions-OG and Gray'sConsent Item #14
Approval of Continuing Special
Tax Levies on Old Greenwood &
Grays Crossing CFDs
June 5, 2013
Background / History
• On October 14, 2003, the Board adopted Ordinance #2003-04
authorizing the levy of a special tax on the Old Greenwood
Community Facilities District 03-1
• On July 21, 2004, the Board adopted Ordinance #2004-02
authorizing the levy of a special tax on the Gray's Crossing
Community Facilities District 04-1
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New Information
• Annually, the Board is required to authorize Nevada County
counties to collect the CFD assessments
• The annual resolutions for the Old Greenwood and Gray's
Crossing CFD's are attached
• Tonight, Board is also considering the refinancing of the
Old Greenwood bonds (not included in this action item)
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Fiscal Impact
• The estimated special tax revenue is:
— Old Greenwood Assessments
— Gray's Crossing Assessments
The funds collected are used to make annual bond payments
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Recommendation
a) Adopt Resolution 2013-13 requesting Nevada County to
collect the special taxes for the Old Greenwood 03-1 Community
Facilities District
b) Adopt Resolution 2013-14 requesting Nevada County to
collect the special taxes for the Gray's Crossing 04-1 Community
Facilities District
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