Process for CFD Formation Sample Clauses

Process for CFD Formation. District agrees that, upon Property Owner’s presentation of a landowner’s petition and Property Owner’s payment of a fee, as described in subdivision (d) of Government Code section 53318, District will use its best efforts to commence proceedings to form CFD No. 2024-1 (Silverwood Maintenance) in accordance with the following. i. The target date for the CFD formation (i.e., approval of the resolution of formation and conducting the special tax election) is on or before March 31, 2024. ii. District shall retain a consultant for formation of the CFD. iii. District shall provide to Property Owner its local goals and policies, procedures and forms related to CFD formation. iv. District will provide Property Owner with the opportunity to review and provide input on all documents and budgets relating to the formation of the CFD (including, but not limited to, any resolutions, funding agreements, maps, maintenance budgets, cost estimates, special tax calculations and RMAs) at least thirty (30) calendar days prior to the date on which such documents, or related documents, are to be submitted for the agenda package for the District board meeting. If the Property Owner fails to approve the levy of the special tax of the CFD or votes no to form the CFD consistent with this Agreement, the District will not accept dedication of the parks. v. The CFD shall not be authorized to issue bonds or debt of any kind. vi. Upon the District’s approval of the required CFD documents, including without limitation, the RMA, Property Owner will execute and return to District or its designee all necessary documents, including election documents and consent and waiver forms related to condensed election procedures and applicable fees, and shall take the necessary actions to form the CFD pursuant to adopted District policies and this Agreement.
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Related to Process for CFD Formation

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