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HomeMy WebLinkAbout7/12/2005 Blue Sheet -Vanderbilt Farms Canvass of Election Results BOARD MEETING INFORMATION V ANDERBIL T FARMS COMMUNITY FACILITIES DISTRICT MEETING DATE: July 12, 2005 AGENDA ITEM: A. 1 TO: DISTRICT BOARD MEMBERS FROM: Jocelyn C. Bronson, Secretary SUBJECT: VFCFD Resolution No. 2005-03: Consideration and possible adoption of a resolution of the District Board of Vanderbilt Farms Community Facilities District declaring the results of, and adopting a Certificate of Results for, the election with respect to issuance of bonds by the District and the levy of an ad valorem property tax therefore and separately the levy of a separate ad valorem property tax for operation and maintenance purposes. DISCUSSION On June 28,2005, a Special Bond/Special Election was held in the Vanderbilt Farms Community Facilities District. Attached for the Board's review is a copy of the Abstract of Vote for that election, a resolution declaring the results of that election, and a Certificate of Results for the General Obligation Bond and Operation and Maintenance Expenses Tax Election held for Vanderbilt Farms Community Facilities District on June 28, 2005. RECOMMENDATION Staff is requesting the Board's approval of the Abstract of Vote, the resolution declaring the results of the June 28, 2005 special bond election and the proposed form of Certificate of Results, attached hereto as Exhibit "A". SUGGESTED MOTION I move to accept the Abstract of Vote, approve VFCFD Resolution No. 2005-03 and Exhibit "A", the Certificate of Results. BLU GFCFD bond election canvass.doc / J."'" . , SPECIAL BOND/SPECIAL ELECTION HELD IN VANDERBILT COMMUNITY FACILITIES DISTRICT IN THE COUNTY OF PIMA ON THE 28TH DAY OF JUNE, 2005 ABSTRACT I CONDENSED ABSTRACT OF VOTE We, the undersigned, do hereby certify that the following is a true and exact account of votes cast in the above named election: 2. NUMBER OF BALLOTS REMAINING TO BE VERIFIED I ~ 1. NUMBER OF BALLOTS CAST QUESTION 1 VOTES CAST BONDS, YES BONDS, NO ~dD UNDERVOTE BALLOTS OVERVOTE BALLOTS QUESTION 2 '-- -- . ) VOTES CAST TAX, YES TAX, NO Y:;)'O ~ r UNDERVOTE BALLOTS OVERVOTE BALLOTS ."'j- CERTIFIED BY: INSPECTOR , '''<< JUDGE JUDGE PLACE ORIGINAL IN THE OFFICIAL RETURNS ENVELOPE PLACE 1 COpy IN THE PAYROLL VOUCHER ENVELOPE PLACE 1 COpy IN THE UNOFFICIAL RETURNS ENVELOPE POST 1 COpy CONSPICUOUSLY ON THE OUTSIDE OF THE POLLING PLACE I RESOLUTION VFCFD NO. 2005-03 (VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT) A RESOLUTION OF THE DISTRICT BOARD OF VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT DECLARING THE RESULTS OF, AND ADOPTING A CERTIFICATE OF RESULTS FOR, THE ELECTION WITH RESPECT TO ISSUANCE OF BONDS BY THE DISTRICT AND THE LEVY OF AN AD VALOREM PROPERTY TAX THEREFOR AND SEPARATELY THE LEVY OF A SEPARATE AD VALOREM PROPERTY TAX FOR OPERATION AND MAINTENANCE PURPOSES BE IT RESOLVED BY THE DISTRICT BOARD OF VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT as follows: 1. Findings. a. Vanderbilt Farms Community Facilities District (hereinafter called the "District") is authorized (1) by Section 48-719, Arizona Revised Statutes, as amended, to issue and sell general obligation bonds of the District to provide moneys for public infrastructure purposes consistent with The General Plan of Vanderbilt Farms Community Facilities District and (2) by Section 48-709(F), Arizona Revised Statutes, as amended, to repay all or part of fees and charges collected from landowners for public infrastructure purposes, the advance of moneys by landowners for public infrastructure purposes or the granting of real property by the landowner for public infra- structure purposes from the proceeds of such bonds pursuant to agreements entered into with landowners and the Town of Marana, Arizona pursuant to Section 48-709 (A) (10), Arizona Revised Statutes, as amended. b. Pursuant to section 48-723, Arizona Revised Statutes, as amended, the District is authorized to levy an ad valorem tax on the assessed value of all real and personal property in the District at a rate which does not exceed the maximum rate specified in the ballot with respect thereto as hereinafter described, including taxes attributable to the operation and maintenance expenses of the District, but not in excess of thirty cents (30G) per one hundred dollars ($100) of such assessed valuation for such operation and maintenance. c. Such bonds may not be issued and such tax may not be levied unless approved at an election ordered and called to submit to the qualified electors of the District or to those persons who will be qualified to vote pursuant to Section 48-707 (G), Arizona Revised Statutes, as amended [being, if no person has registered to vote within the area to be included within the boundaries of the District wi thin fifty (50) date, the owners days immediately preceding any scheduled election of land wi thin the District who will be qualified electors of the State of Arizona and other landowners according to Section 48-3043, Arizona Revised Statutes, as amended (hereinafter referred to as the "qualified electors"),] the question of authorizing the District Board to issue such bonds (hereinafter referred to as the "Bonds") and to levy such tax. d. The district board of the District (hereinafter called the "District Board") deemed it necessary and advisable to order and call such an election and to establish the procedures whereby such election should be held and did so pursuant to Resolution 2 No. VFCFD 2004-01 adopted by us on April 19, 2005, which provided that a special election be held on June 28, 2005, (hereinafter referred to as the "Election"), at which time there was submitted to the qualified electors of the District the question set forth in the official ballot described in the Election Resolution. e. The election board for the Election filed with the District Board its returns of election and the ballots cast at the polling place, and the District Board canvassed the returns of the Election and determined (1) that a total of one (1) ballot(s) had been cast in response to the questions submitted, that in answer to the questions submitted, such ballot was marked "Bonds, Yes" and no bal- lots were marked "Bonds, No" with respect to the issuance of the Bonds and such ballot was marked "Tax, Yes" and no ballots were marked "Tax, No" with respect to the levying of the Operation and Maintenance Expenses Tax; (2) that the Election had been conducted and the returns thereof made as required by law and (3) that only qualified electors were permitted to vote at the Election. 1. Canvass. After careful examination of the official returns of the Election, the District Board finds and determines as follows: a. That a maj ori ty of the votes cast by the qualified electors voting at the Election voted "Bonds, Yes" ln response to the following question: SHALL THE DISTRICT BOARD (THE "BOARD") OF VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT (THE "DISTRICT") BE AUTHORIZED TO ISSUE GENERAL 3 OBLIGATION BONDS OF THE DISTRICT, IN THE DENOMINATION OF THE BONDS, THE SIZE OF EACH ISSUE AND THE FORM OF THE BONDS PRESCRIBED, AND HAVING THE MATURITIES (NOT EXCEEDING 25 YEARS), INTEREST PAYMENT DATES AND INTEREST RATES, WHETHER FIXED OR VARIABLE, NOT EXCEEDING 12 PER CENT PER ANNUM, ESTABLISHED, BY THE BOARD AND CONTAINING SUCH TERMS, CONDITIONS, COVENANTS AND AGREEMENTS AS THE BOARD DEEMS PROPER, IN THE MAXIMUM AMOUNT OF THIRTY-ONE MILLION FIVE HUNDRED DOLLARS ($31,500,000) TO PROVIDE MONEYS (A) (1) FOR PLANNING, DESIGN, ENGINEERING, CONSTRUCTION, ACQUISITION OR INSTALLATION OF ANY OR ALL OF THE FOLLOWING IMPROVEMENTS, INCLUDING NECESSARY OR RENOVATED DESIRABLE INFRASTRUCTURE"} : OR EXISTING, AND ALL CONSTRUCTED, NECESSARY OR ("PUBLIC INCIDENTAL WORK, WHETHER NEWLY APPURTENANCES (a) SANITARY SEWAGE SYSTEMS, INCLUDING COLLECTION, TRANSPORT, STORAGE, TREAT- MENT, DISPERSAL, EFFLUENT USE AND DISCHARGE, (b) DRAINAGE AND FLOOD CONTROL SYSTEMS, INCLUDING COLLECTION, TRANSPORT, DIVERSION, STORAGE, DETEN- TION, RETENTION, DISPERSAL, USE AND DISCHARGE, (c) WATER SYSTEMS FOR DOMESTIC, INDUSTRIAL, IRRI- GATION, MUNICIPAL OR FIRE PROTECTION PURPOSES INCLUDING PRODUCTION, COLLECTION, STORAGE, TREAT- 4 MENT, TRANSPORT, DELIVERY, CONNECTION AND DIS- PERSAL, BUT NOT INCLUDING FACILITIES FOR AGRICUL- TURAL IRRIGATION PURPOSES UNLESS FOR THE REPAIR OR REPLACEMENT OF EXISTING FACILITIES WHEN REQUIRED BY OTHER IMPROVEMENTS DESCRIBED HEREIN, (d) HIGHWAYS, STREETS, ROADWAYS AND PARKING FACILITIES INCLUDING ALL AREAS FOR VEHICULAR USE FOR TRAVEL, INGRESS AND EGRESS, (e) AREAS FOR PEDESTRIAN, EQUESTRIAN, BICYCLE OR OTHER NON- MOTOR VEHICLE USE FOR TRAVEL, INGRESS, EGRESS AND PARKING, (f) PEDESTRIAN MALLS, PARKS, RECREA- TIONAL FACILITIES, AND OPEN SPACE AREAS FOR THE USE OF MEMBERS OF THE PUBLIC FOR ENTERTAINMENT, ASSEMBLY AND RECREATION, (g) LANDSCAPING INCLUD- ING EARTHWORKS, STRUCTURES, LAKES AND OTHER WATER FEATURES, PLANTS, TREES AND RELATED WATER DELIV- ERY SYSTEMS, (h) PUBLIC BUILDINGS, PUBLIC SAFETY FACILITIES AND FIRE PROTECTION FACILITIES, (i) LIGHTING SYSTEMS, (j) TRAFFIC CONTROL SYSTEMS AND DEVICES INCLUDING SIGNALS, CONTROLS, MARKINGS AND SIGNAGE, (k) SCHOOL SITES AND FACILITIES AND (1) EQUIPMENT, VEHICLES, FURNISHINGS AND OTHER PERSONALTY RELATED TO ANY OF THE FOREGOING; (2) ACQUIRING, CONVERTING, RENOVATING OR IMPROV- ING EXISTING FACILITIES FOR PUBLIC INFRASTRUC- TURE; (3) ACQUIRING INTERESTS IN REAL PROPERTY 5 FOR PUBLIC INFRASTRUCTURE; (4) ESTABLISHING, MAINTAINING AND REPLENISHING RESERVES FROM ANY SOURCE IN ORDER TO SECURE PAYMENT OF DEBT SERVICE ON BONDS; (5) FUNDING AND PAYING FROM BOND PROCEEDS INTEREST ACCRUING ON BONDS FOR A PERIOD OF NOT TO EXCEED THREE (3) YEARS FROM THEIR DATE OF ISSUANCE; (6) PROVIDING FOR THE TIMELY PAYMENT OF DEBT SERVICE ON BONDS OR OTHER INDEBTEDNESS OF THE DISTRICT; (7) REFINANCING ANY MATURED OR UNMATURED BONDS, WITH NEW BONDS; AND (8) EXPENSES OF THE DISTRICT INCIDENT TO AND REASONABLY NECES- SARY TO CARRY OUT THE PURPOSES SPECIFIED IN THIS PARAGRAPH (CLAUSES (1) THROUGH (8), BOTH INCLU- SIVE, BEING "PUBLIC INFRASTRUCTURE PURPOSES") AND (B) FOR REPAYING ALL OR PART OF FEES OR CHARGES COLLECTED FROM LANDOWNERS FOR PUBLIC INFRASTRUC- TURE PURPOSES, THE ADVANCE OF MONEYS BY LAND- OWNERS FOR PUBLIC INFRASTRUCTURE PURPOSES OR THE GRANTING OF REAL PROPERTY BY THE LANDOWNER FOR PUBLIC INFRASTRUCTURE PURPOSES PURSUANT TO AGREE- MENTS ENTERED INTO WITH LANDOWNERS AND THE TOWN OF MARANA, ARIZONA, PURSUANT TO SECTION 48-709 (A) (10), ARIZONA REVISED STATUTES, AS AMENDED, AND IN AN AMOUNT NOT IN EXCESS OF ONE AND ONE- HALF (1~) TIMES THE AMOUNT OF BONDS PREVIOUSLY ISSUED BY THE DISTRICT FOR THE PURPOSE OF 6 REFUNDING ANY BONDS ISSUED BY THE DISTRICT FOR EITHER OF THE FOREGOING PURPOSES, PAYABLE FROM AN AD VALOREM TAX LEVIED AND COLLECTED ANNUALLY ON ALL TAXABLE PROPERTY IN THE DISTRICT, SUFFICIENT TO PAY DEBT SERVICE ON SUCH BONDS WHEN DUE, AS AUTHORIZED BY THE CONSTITUTION AND LAWS OF THE STATE OF ARIZONA, INCLUDING PARTICULARLY (BUT NOT BY WAY OF LIMITATION) TITLE 48, CHAPTER 4, ARTICLE 6, ARIZONA REVISED STATUTES, TOGETHER WITH ALL AMENDMENTS AND ADDITIONS THERETO? b. That up to and including $31,500,000 aggregate principal amount of the Bonds are therefore authorized to be sold and issued; c. That a maj ori ty of the votes cast by the qualified electors voting at the Election voted "Tax, Yes" in response to the following question: SHALL THE DISTRICT BOARD OF VANDERBILT FARMS COM- MUNITY FACILITIES DISTRICT (THE "DISTRICT") BE AUTHORIZED TO LEVY AND COLLECT AN ANNUAL AD VALOREM TAX ON THE ASSESSED VALUE OF ALL REAL AND PERSONAL PROPERTY IN THE DISTRICT AT A RATE NOT TO EXCEED 30 CENTS PER $100 OF ASSESSED VALUATION OF ALL REAL AND PERSONAL PROPERTY IN THE DISTRICT, ALL ATTRIBUTABLE TO THE OPERATION AND MAINTENANCE EXPENSES OF THE DISTRICT, IN ACCORDANCE WITH THE CONSTITUTION AND LAWS OF THE 7 STATE OF ARIZONA, INCLUDING PARTICULARLY (BUT NOT BY WAY OF LIMITATION) SECTION 48-723, ARIZONA REVISED STATUTES, AS AMENDED. d. That the Chairperson of the District Board shall execute, and the District Clerk shall attest, the "Certificate of Results of Election" attached hereto and marked Exhibit "A" and e. That the District Clerk is hereby directed to cause to be recorded the "Certificate of Results of Election" in the Office of the County Recorder of Pima County, Arizona; to return said copy with the recording date shown therein to the official records of the District and to cause to be provided a copy thereof to the State Real Estate Department. 2. Severability; Amendment; Effective Date. a. If any section, paragraph, clause or provision of this Resolution shall for any reason be held to be invalid or unen- forceable, the invalidity or unenforceabili ty of such section, para- graph, clause or provision shall not affect any of the remaining pro- visions of this Resolution. b. All resolutions or parts thereof inconsistent herewith are hereby waived to the extent only of such inconsistency. c. This Resolution shall be effective immediately. 8 PASSED by the District Board of Vanderbilt Farms Community Facilities District this 12th day of July, 2005. Chairperson, District Board, Vanderbilt Farms Community Facilities District ATTEST: District Clerk, Vanderbilt Farms Community Facilities District APPROVED AS TO FORM: District Counsel, Vanderbilt Farms Community Facilities District ATTACHMENTS: EXHIBIT "A" -- Certificate Of Results Of The General Obligation Bond and Operation and Maintenance Expenses Tax Election Held In And For Vanderbilt Farms Community Facilities District on June 28, 2005 * * * 1448525.1-7/8/05 9 EXHIBIT "A" FORM OF CERTIFICATE OF RESULTS OF THE GENERAL OBLIGATION BOND AND OPERATION AND MAINTENANCE EXPENSES TAX ELECTION HELD FOR VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT ON JUNE 28, 2005. CERTIFICATE OF RESULTS OF THE GENERAL OBLIGATION BOND AND OPERATION AND MAINTENANCE EXPENSES TAX ELECTION HELD FOR VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT ON JUNE 28, 2005. The Chairperson of the District Board of Vanderbilt Farms Community Facilities District (hereinafter referred to as the "District") does hereby certify as follows: 1. That pursuant to a Resolution passed and adopted by the District Board of the District on April 19, 2005, (hereinafter referred to as the "Resolution"), an election was duly called and regularly held on June 28, 2005, (hereinafter referred to as the "Election"), when there was submitted to those who were the qualified electors or other landowners according to Section 48-3043, Arizona Revised Statutes, as amended, of the District the questions as shown on the attached form of ballot; 2. That the obj ect of the Election was to obtain authority from such qualified electors or other landowners according to Section 48-3043, Arizona Revised Statutes, as amended, to issue and sell general obligation bonds and to levy and collect an annual ad valorem property tax for operation and maintenance expenses described in attached form of ballot; A-I 3. That proof of the due posting of the "Notice of the Election" the District Board of the District; 4. That no person was registered to vote wi thin fifty (50) days (or at any time) immediately preceding June 28, 2005, within and regular publication and has been made and filed with the area comprising the District; 5. That as a result of no qualified electors residing within such area each and every landowner according to Section 48-3043, Arizona Revised Statutes, as amended, voted at the Election; 6. That the poll and tally lists and the official returns of the election board that conducted the Election were filed with the District Board of the District on June 28, 2005, and the District Board of the District met and canvassed the returns of the Election as prescribed by law; 7. That after careful and complete canvass of the official election returns, in answer to the questions submitted to such qualified electors or other landowners according to Section 48-3043, Arizona Revised Statutes, as amended, at the Election, the majority of the votes cast were cast in favor of the issuance and sale of not to exceed $31,500,000 principal amount of general obligation bonds of the District and the levy and collection of an annual ad valorem property tax for operation and maintenance purposes in an amount not to exceed 30 cents per $100 of secondary assessed valuation described in the questions submitted at the Election as determined by the election board at the polling place, the Election had been conducted and the returns thereof made as required by law and the A-2 result of the Election as to both questions is set forth in the following tabulation of the official election returns, to-wit: Precinct Polling Place Yes No Total 13251 North Lon Adams Road 1 0 1 Marana, Arizona 85653 (420 (0 (420 - acres) acres) acres) 8. That the majority of the votes cast at the Election in Marana answer to the questions submitted were ln favor of the indebtedness, as described in the questions submitted at the Election, by the issu- ance and sale of up to and including $31,500,000 aggregate principal amount of general obligation bonds and separately the levy and collec- tion of an annual ad valorem property tax for operation and mainte- nance purposes in an amount not to exceed 30 cents per $100 of secondary assessed valuation. A-3 IN WITNESS WHEREOF, the Chairperson of the District Board of the District has hereunto placed his hand and caused the same to be attested by the District Clerk of the District on July 12, 2005. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. Ed Honea, Chairperson, District Board, Vanderbilt Farms Community Facilities District ATTEST: Jocelyn C. Bronson, District Clerk, Vanderbilt Farms Community Facilities District THIS DOCUMENT MUST BE RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF PIMA COUNTY, ARIZONA A-4 OFFICIAL BALLOT SHALL THE DISTRICT BOARD (THE "BOARD") OF VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT (THE "DISTRICT") BE AUTHORIZED TO ISSUE GENERAL OBLIGATION BONDS OF THE DISTRICT, IN THE DENOMINATION OF THE BONDS, THE SIZE OF EACH ISSUE AND THE FORM OF THE BONDS PRESCRIBED, AND HAVING THE MATURITIES (NOT EXCEEDING TWENTY-FIVE (25) YEARS), INTEREST PAYMENT DATES AND INTEREST RATES, WHETHER FIXED OR VARIABLE, NOT EXCEEDING TWELVE PERCENT (12%) PER ANNUM, ESTABLISHED, BY THE BOARD AND CONTAINING SUCH TERMS, CONDITIONS, COVENANTS AND AGREEMENTS AS THE BOARD DEEMS PROPER, IN THE MAXIMUM AMOUNT OF THIRTY-ONE MILLION FIVE HUNDRED DOLLARS ($31,500,000) TO PROVIDE MONEYS (A) (1) FOR PLANNING, DESIGN, ENGINEERING, CONSTRUCTION, ACQUISITION OR INSTALLATION OF ANY OR ALL OF THE FOLLOWING IMPROVEMENTS, INCLUDING NECESSARY OR INCIDENTAL WORK, WHETHER NEWLY CONSTRUCTED, RENOVATED OR EXISTING, AND ALL NECESSARY OR DESIRABLE APPURTENANCES ("PUBLIC INFRASTRUCTURE"): (a) SANITARY SEWAGE SYSTEMS, INCLUDING COLLECTION, TRANSPORT, STORAGE, TREATMENT, DISPERSAL, EFFLUENT USE AND DISCHARGE, (b) DRAINAGE AND FLOOD CONTROL SYSTEMS, INCLUDING COLLECTION, TRANSPORT, DIVERSION, STORAGE, DETENTION, RETENTION, DISPERSAL, USE AND DISCHARGE, (e) WATER SYSTEMS FOR DOMESTIC, INDUSTRIAL, IRRIGATION, MUNICIPAL OR FIRE PROTECTION PURPOSES INCLUDING PRODUCTION, COLLECTION, STORAGE, TREATMENT, TRANSPORT, DELIVERY, CONNECTION AND DISPERSAL, BUT NOT INCLUDING FACILITIES FOR AGRICULTURAL IRRIGATION PURPOSES UNLESS FOR THE REPAIR OR REPLACEMENT OF EXISTING FACILITIES WHEN REQUIRED BY OTHER IMPROVEMENTS DESCRIBED HEREIN, (d) HIGHWAYS, STREETS, ROADWAYS AND PARKING FACILITIES INCLUDING ALL AREAS FOR VEHICULAR USE FOR TRAVEL, INGRESS AND EGRESS, (e) AREAS FOR PEDESTRIAN, EQUESTRIAN, BICYCLE OR OTHER NON-MOTOR VEHICLE USE FOR TRAVEL, INGRESS, EGRESS AND PARKING, (f) PEDESTRIAN MALLS, PARKS, RECREATIONAL FACILITIES, AND OPEN SPACE AREAS FOR THE USE OF MEMBERS OF THE PUBLIC FOR ENTERTAINMENT, ASSEMBLY AND RECREATION, (g) LANDSCAPING INCLUDING EARTHWORKS, STRUCTURES, LAKES AND OTHER WATER FEATURES, PLANTS, TREES AND RELATED WATER DELIVERY SYSTEMS, (h) PUBLIC BUILDINGS, PUBLIC SAFETY FACILITIES AND FIRE PROTECTION FACILITIES, (i) LIGHTING SYSTEMS, (j) TRAFFIC CONTROL SYSTEMS AND DEVICES INCLUDING SIGNALS, CONTROLS, MARKINGS AND SIGNAGE, (k) SCHOOL SITES AND FACILITIES AND (1) EQUI PMENT , VEHICLES, FURNI SHINGS AND OTHER PERSONALTY RELATED TO ANY OF THE FOREGOING; (2) ACQUIRING, CONVERTING, RENOVATING OR IMPROVING EXISTING FACILITIES FOR PUBLIC INFRASTRUCTURE; (3) ACQUIRING INTERESTS IN REAL PROPERTY FOR PUBLIC INFRASTRUCTURE; (4) ESTABLISHING, MAINTAINING AND REPLENISHING RESERVES FROM ANY SOURCE IN ORDER TO SECURE PAYMENT OF DEBT SERVICE ON BONDS; (5) FUNDING AND PAYING FROM BOND PROCEEDS INTEREST ACCRUING ON BONDS FOR A PERIOD OF NOT TO EXCEED THREE (3) YEARS FROM THEIR DATE OF ISSUANCE; (6) PROVIDING FOR THE TIMELY PAYMENT OF DEBT SERVICE ON BONDS OR OTHER INDEBTEDNESS OF THE DISTRICT; (7) REFINANCING ANY MATURED OR UNMATURED BONDS, WITH NEW BONDS; AND (8) EXPENSES OF THE DISTRICT INCIDENT TO AND REASONABLY NECESSARY TO CARRY OUT THE PUR- POSES SPECIFIED IN THIS PARAGRAPH (CLAUSES (1) THROUGH (8), BOTH IN- CLUSIVE, BEING "PUBLIC INFRASTRUCTURE PURPOSES") AND (B) FOR REPAYING ALL OR PART OF FEES OR CHARGES COLLECTED FROM LANDOWNERS FOR PUBLIC A-5 INFRASTRUCTURE PURPOSES, THE ADVANCE OF MONEYS BY LANDOWNERS FOR PUBLIC INFRASTRUCTURE PURPOSES OR THE GRANTING OF REAL PROPERTY BY THE LANDOWNER FOR PUBLIC INFRASTRUCTURE PURPOSES PURSUANT TO AGREEMENTS ENTERED INTO WITH LANDOWNERS AND THE TOWN OF MARANA, ARIZONA, PURSUANT TO SECTION 48-709 (A) (10), ARIZONA REVISED STATUTES, AS AMENDED, AND IN AN AMOUNT NOT IN EXCESS OF ONE AND ONE-HALF (1~) TIMES THE AMOUNT OF BONDS PREVIOUSLY ISSUED BY THE DISTRICT FOR THE PURPOSE OF REFUNDING ANY BONDS ISSUED BY THE DISTRICT FOR EITHER OF THE FOREGOING PURPOSES, PAYABLE FROM AN AD VALOREM TAX LEVIED AND COLLECTED ANNUALLY ON ALL TAXABLE PROPERTY IN THE DISTRICT, SUFFICIENT TO PAY DEBT SERVICE ON SUCH BONDS WHEN DUE, AS AUTHORIZED BY THE CONSTITUTION AND LAWS OF THE STATE OF ARIZONA, INCLUDING PARTICULARLY (BUT NOT BY WAY OF LIMITATION) TITLE 48, CHAPTER 4, ARTICLE 6, ARIZONA REVISED STATUTES, TOGETHER WITH ALL AMENDMENTS AND ADDITIONS THERETO? Place and "X" in the box beside the way you wish to vote: o BONDS, YES o BONDS, NO SHALL THE DISTRICT BOARD OF VANDERBILT FARMS COMMUNITY FACILITIES DISTRICT (THE "DISTRICT") BE AUTHORIZED TO LEVY AND COLLECT AN ANNUAL AD VALOREM TAX ON THE ASSESSED VALUE OF ALL REAL AND PERSONAL PROPERTY IN THE DISTRICT AT A RATE NOT TO EXCEED THIRTY CENTS (30<::) PER ONE HUNDRED DOLLARS ($100) OF ASSESSED VALUATION OF ALL REAL AND PERSONAL PROPERTY IN THE DISTRICT, ALL ATTRIBUTABLE TO THE OPERATION AND MAIN- TENANCE EXPENSES OF THE DISTRICT, IN ACCORDANCE WITH THE CONSTITUTION AND LAWS OF THE STATE OF ARIZONA, INCLUDING PARTICULARLY (BUT NOT BY WAY OF LIMITATION) SECTION 48-723, ARIZONA REVISED STATUTES, AS AMENDED? Place an "X" 1n the box beside the way you wish to vote. o TAX, YES o TAX, NO A-6