Summary:
Pursuant to Section 48-715, Arizona Revised Statutes, prior to the construction or acquisition of public infrastructure by Mystic at Lake Pleasant Heights Community Facilities District, the Board of Directors of Mystic Community Facilities Board must hold a Public Hearing related to a Feasibility Report describing the feasibility and benefits of the projects described in the Feasibility Report.
The Feasibility Report includes (i) a description of the public infrastructure to be acquired, (ii) a map showing, in general, the location of the public infrastructure and the area to be benefited by the public infrastructure, (iii) an estimate of the costs to acquire, and the estimated schedule for completion of, the public infrastructure, and (iv) a plan for financing the public infrastructure.
The Feasibility Report is presented for public hearing and approval in connection with the proposed issuance of general obligation bonds which are on the agenda for District Board approval.
Notice of the Public Hearing was published in the Peoria Times on April 13, 2023 in compliance with State statute.