HomeMy WebLinkAboutStudy Session Agenda Packet 07/01/2003 TOWN OF MARANA, ARIZONA
STUDY SESSION
Marana Town Hall
13251 N. Lon Adams Road
July 1, 2003, 5 :30 - 6 :30 p.m.
Mayor Bobby Sutton, Jr.
Vice Mayor Herb Kai
Council. Member Jim Blake
Council Member Patti Comerford
Council Member Tim Escobedo
Council Member Ed Honea _
Council Member Carol McGorray
Town Manager Mike Hein
Assistant Town Manager Mike Reuwsaat
Welcome to this Marana Council Meeting. Regular Council Meetings are usually held the
first and third Tuesday of each month at 7 :00 p.m. at the Marana Town Hall, although the date or
time may change, Study Sessions or Special Meetings may be called at other times and /or places.
Contact Town Hall or watch for posted agendas for other meetings. This agenda may be revised up
to twenty -four hours prior to the meeting. In such a case a new agenda will be posted in place of
this agenda..
If you are interested in speaking to the Council during Petitions and Comments, Public
Hearings, or other agenda items, you must fill out a speaker card (at the rear of the Council
Chambers) and deliver it to the Clerk in advance of the agenda item you wish to address. It is up to
the Mayor and Council whether individuals will be allowed to address the Council on issues other
than Announcements, Petitions & Comments, and Public Hearings. All persons attending the
Council Meeting, whether speaking to the Council or not, are expected to observe the Council
Rules, as well as the rules of politeness, propriety, decorum and good conduct. Any person
interfering with the meeting in any way, or acting rudely or loudly will be removed from the
meeting and will not be allowed to return.
To better serve the citizens of Marana and others attending our meetings, the Council
Chamber is wheelchair and handicapped accessible. Any person who, by reason of any disability, is
in need of special services as a result of their disability, such as assistive listening devices, agenda
materials printed. in Braille or large print, a signer for the hearing impaired, etc., will be
accommodated. Such special services are available upon prior request, at least ten (10) working
days prior to the Council Meeting.
For a copy of this agenda or questions about the Co. uncil Meetings, special services, or
procedures, please contact Jocelyn C. Bronson, Town Clerk, at 682 -3401, Monday through Friday
from 8:00 a.m. to 5 :00 p.m.
ACTION MAY BE TAKEN BY THE COUNCIL ON ANY ITEM LISTED ON THIS AGENDA.
Amended agenda items appear in italics.
Posted by June 27, 2003 by 6 :00 o'clock p.m., at the Marana Town Han, Marana Police
Department, Marana Development Services Center. ❑
_ 1
TOWN OF MARANA, ARIZONA
STUDY SESSION
Marana Town Hall
13251 N. Lon Adams Road
July 1, 2003, 5:30 - 6 :30 p.m.
I. CALL TO ORDER
II. GENERAL ORDER OF BUSINESS
A. COUNCIL ACTION
1. General discussion regarding Community Facilities Districts (CFDs) (Roy
Cuaron)
III. ADJOURNMENT
Bobby Sutton, Jr., Mayor
i
2
TOWN OF MARANA
Study Session
Community Facilities Districts (CFD)
Tuesday, July 1, 2003
• Enabling Legislation
✓ Arizona Community Facilities District Act (the "Act "), A.R.S. 48 -701, September,
1988
• Purpose
✓ Provides cities, towns and owners of real property a financing mechanism to
construct public facilities and public infrastructure through the issuance of tax -
exempt bonds
• District Formation
✓ Requires consent of Mayor and Council
✓ Property owners submit petition to local municipality --+ must represent at least 25%
of the land within the proposed district
✓ Mayor and Council adopt Resolution of Intention to form the district
✓ Notice of intent to form is sent to all landowners within the proposed district
✓ Public hearing held; Council passes resolution to form the district
✓ Requires majority consent of landowners by acreage and majority consent of
qualified electors voting at an election
✓ If 100% of landowners sign petition, preceding three steps may be waived
• District Governance
✓ CFD's governed by board of directors
✓ Directors appointed by Mayor and Council
✓ Council may serve as the board
■ Required if district is less than 600 acres
✓ CFD activities managed by District Manager, Engineer, Treasurer
■ May be in -house staff or outside entities
• District Debt
✓ CFD debt is independent and separate from sponsoring municipality
✓ Statutory debt limitations of cities /towns unaffected by CFD debt
✓ Cities and towns have no contingent liability for CFD debt
✓ Amount of District debt constrained by land values and financial capacity of
developers
✓ District may levy secondary property tax to fund maintenance & operation (M &O)
costs of the district
■ Initial tax levy may not exceed $30 per $100 of assessed valuation of district
property
• CFD Debt Instruments (most common)
❖ General Obligation (G.O.) Bonds
✓ Requires voter approval
■ Voter authorization may be for an indefinite period of time
✓ Secured by ad valorem (property) tax
• Tax rate determined on an annual basis
• Tax amount based upon home /property value
✓ Total bond issue may not exceed 60% of market value of property and
improvements
❖ Assessment Bonds
✓ Requires consent of property owners
✓ Secured by assessment lien on the property
✓ Lien amount certain and fixed