FROM:
Finance
SUBJECT:
Title
Adoption of Ordinance No. 1952 (Second Reading), levying special taxes within the City of Fontana Community Facilities District No. 113 (The Gardens Phase Two).
End
RECOMMENDATION:
Recommendation
Adopt Ordinance No. 1952 on second readying, levying special taxes within the City of Fontana Community Facilities District No. 113 (The Gardens Phase Two).
End
COUNCIL GOALS:
• To practice sound fiscal management by developing long-term funding and debt management plans.
DISCUSSION:
Ordinance No. 1952 was introduced by a vote of 4-0 at the May 14, 2024, Regular City Council Meeting.
FISCAL IMPACT:
This District will provide annual funding for maintenance costs, administration and debt service costs once bonds are issued.
MOTION:
Approve staff recommendation.