WHAT IS THE RANCHO SAHUARITA COMMUNITY FACILITIES DISTRICT?
The District is a special purpose, tax levying, public improvement district (in accordance with Title 48, Chapter 4, Article 6 of the Arizona Revised Statutes. The District is a local government, distinct and separate from the Town of Sahuarita, with the ability to enter into contracts and to issue debt independently. However, the District is located within the Town boundaries and the Town Council sits as the Governing Board of the District.
WHEN WAS THE DISTRICT CREATED?
The Town of Sahuarita ordered and declared the formation of the Rancho Sahuarita Community Facilities District (CFD) on Monday, March 24, 2014.
HOW DOES THE DISTRICT FUNCTION?
Rancho Sahuarita has proposed that, over fifteen years, the CFD Board may approve a list of improvements whose current costs are $38.6 million, with a limit of $60 million in general obligation bonds over a 35-year period. The bonds would be issued in smaller amounts, as infrastructure needs are identified as the community builds out.