Discussion and possible action to: (a) adopt RES. SCFD1 2025-02 approving the Canvass of Election for the Special Election held on September 9, 2025 and (b) adopt a certificate of results for the election with respect to issuance of bonds by the District and the levy of an ad valorem property tax therefore and separately the levy of a separate ad valorem property tax for operation and maintenance purposes.

On June 3, 2025, the District Board approved a resolution that outlined various administrative requirements pertaining to the formation of the Saddleback 1 Community Facilities District, a new political subdivision. The resolution also called for an election to authorize bonds necessary for the permanent financing of the public infrastructure for which the District will be responsible and the potential levy of a limited property tax to pay expenses of the District.

The required election was held on September 9, 2025, after appropriate public posting and publication of notification as required by State Statute. In addition to authorizing a not to exceed $35,000,000 aggregate principal amount of bonds which is anticipated to be spent for infrastructure projects of the District described in a development agreement with the owner of the land in the District, the election also authorized an Operation and Maintenance Tax in an amount not to exceed $.30 per $100 of assessed valuation. The Operation and Maintenance Tax would not be intended for use initially, but would be available for expenses of the District if circumstances demanded in the future.

The attached resolution continues the process begun by the District Board on June 3, 2025. This resolution orders the canvassing of the Bond and Operation Tax Election held on September 9, 2025.

On June 3, 2025 the District Board approved Resolution No. SCFD 1 2025-01 taking certain actions with regard to the organization of the district, approving the general plan for the district, approving execution of a district development agreement, authorizing preparation of a feasibility report, and calling an election with respect to the issuance of bonds and the levy of certain ad valorem property taxes.

A: Adopt Resolution No. SCFD 1 2025-02 canvassing an election with respect to issuance of bonds and the levy of an ad valorem property tax therefore and to the levy of a separate ad valorem property tax attributable to operation and maintenance expenses.

B: Do not adopt Resolution No. SCFD 1 2025-02 canvassing an election with respect to issuance of bonds and the levy of an ad valorem property tax therefore and to the levy of a separate ad valorem property tax attributable to  operation and maintenance expenses.

Staff recommends that the District Board adopt the Resolution.

There are no direct fiscal impacts to the District.