CFD 2005-2 (North Vineyard Station No. 1) special tax

“The County of Sacramento Community Facilities District No. 2005-2 (North Vineyard Station No. 1) was established in 2005 and $23.2 Million in bonds were issued to finance the acquisition and construction of certain sewer, water, roadway, and storm drain facilities.”

“"Special Tax Requirement" means the amount necessary in any Fiscal Year to: (i) pay principal and interest on Bonds that is due in the calendar year that begins in such Fiscal Year; (ii) create and/or replenish reserve funds for the Bonds; (iii) cure any delinquencies in the payment of principal or interest on Bonds ... (iv) pay Administrative Expenses; and (v) pay the costs of public improvements and public infrastructure authorized to be financed by CFD No. 2005-2.”

“A Special Tax applicable to each Assessor's Parcel in the Community Facilities District No. 2005-2 (North Vineyard Station No. 1) shall be levied and collected according to the tax liability determined by the Board of Supervisors of the County of Sacramento, acting in its capacity as the legislative body of CFD No. 2005-2, through the application of the appropriate Special Tax rate, as described below. All of the property in CFD No. 2005-2, unless exempted by law or by the provisions of Section F below, shall be taxed for the purposes, to the extent, and in the manner herein provided, including property subsequently annexed to CFD No. 2005-2 unless a separate Rate and Method of Apportionment of Special Tax is adopted for the annexation area.”

2005-12-13

“Adopted Resolution No. 2005-1517 establishing the CFD 2005-2 NVS-1 (12/13/2005);”

Resolution No. 2005-1517

“Adopted Resolution No. 2005-1517 establishing the CFD 2005-2 NVS-1 (12/13/2005);”

“The Special Taxes for CFD No. 2005-2 shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that prepayments are permitted as set forth in Section G below and provided further that the County may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner, and may collect delinquent Special Taxes through foreclosure or other available methods.”

County of Sacramento, Board of Supervisors acting as the legislative body of CFD No. 2005-2, the agency that levies it

“"Board" means the Sacramento County Board of Supervisors.”

“Notwithstanding any other provision of this Amended RMA, no Special Tax shall be levied on up to 112.67 Acres of Public Property, which is planned for and comprised of approximately 49.73 acres for streets, 12.95 acres for parks, a 10.0 acre school site, a 4.17 acre water storage site, a 0.32 acre pump station site, a 3.87 acre drainage channel site, a 9.75 drainage corridor site, a 0.37 acre SMUD site, 17.15 acres for two detention basins, 0.33 acres for two well sites, 0.23 acres of utility easements, and 3.79 acres of landscaping. ... No Special Tax shall be levied in any Fiscal Year on Parcels that have fully prepaid the Special Tax obligation pursuant to the formula set forth in Section G below.”

“If and to the extent so provided in the indenture pursuant to which the Outstanding Bonds to be redeemed were issued, a reserve fund credit shall be calculated as a reduction in the applicable reserve fund for the Outstanding Bonds to be redeemed pursuant to the prepayment (the "Reserve Fund Credit").”