The budget is a financial plan that serves as the basis for expenditure decision-making and subsequent control of expenditures. The plan strives to provide program services at the levels of service established by the Board during the budget process. However, the budget must also be flexible enough to account for unexpected events and expenditures. Otherwise, levels of service in other program areas may suffer to operate within the constraints of the overall budget.
Bond Payoff Request
District Debt Assessments
The Bonds and associated interest are payable from and secured by non-ad valorem assessments levied against those lands within the District that benefit from the design, construction and/or acquisition of the improvements (“Debt Assessments”). Bond proceeds are utilized to fund the construction and/or acquisition of improvements, substantially completed facilities and other real property located within the District for public recreational use. Bonds typically mature thirty (30) years from the date of issuance.
The District’s Debt Assessments and operation and maintenance assessments may appear on that portion of the annual real estate tax bill entitled “non-ad valorem assessments,” and will be collected by the county tax collector in the same manner as county ad valorem taxes. Each property owner must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property. The District may also elect to collect the assessments directly.
It is important to know that the Debt Assessment is a fixed amount and will not change from year to year.