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Statement of Financial Obligations 

A.    Maximum Debt Service Mill Levy: 50.000 mills, subject to adjustment as set forth in the Operating Plan.
B.    Maximum Operations and Maintenance Mill Levy: 1.000 mills, subject to adjustment as set forth in the Operating Plan.
C.    Current Debt Service Mill Levy: 17.000 mills
D.    Current O&M Mill Levy: 1.074 mills
E.    The District may increase or decrease the mill levies to address statutory, legislative, or constitutional changes that adjust or impact the assessed or actual valuation of property or the assessment ratio pursuant to which taxes are calculated as set forth in the Operating Plan.
F.    Information regarding debt for the District is as follows:

  1. The District issued Limited Tax General Obligation Bonds on April 1, 2010, in the total amount of $1,850,000.
    1. Term: December 1, 2039
    2. Interest Rate: 8.5%
  2. The District issued Limited Tax General Obligation Bonds on November 17, 2022, in the total amount of $2,519,000.
    1. Term: December 1, 2040
    2. Interest Rate: 6.5%
  3. The District does not anticipate issuing additional debt at this time.

G.    The District is party to the following developer reimbursement agreements:

  1. Reimbursement Agreement between the District and Development Management, Inc. dated December 31, 2006 and modified March 30, 2011.
    1. Term: Automatic annual renewal
    2. Interest rate: 7%