Discussion and possible action to hold a public hearing on the Feasibility Report for the issuance of General Obligation Bonds.

Pursuant to Section 48-715, Arizona Revised Statutes, prior to the construction or acquisition of public infrastructure by Vistancia North Community Facilities District, the Board of Directors of Vistancia North 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 May 30, 2024 in compliance with State statute.

This will be the first Public Hearing on a Feasibility Report for Vistancia North CFD.

Staff recommends that the District Board hold the Public Hearing on the Feasibility Report.

There is no financial impact from the Public Hearing.