Board of Directors of the Festival Ranch Community Facilities District (CFD) to take action on Resolution No. 07-26 ordering the Public Infrastructure Project performed as described in Resolution No.

3.B
CITY OF BUCKEYE
Joint Meeting of the Community Facilities Districts
BOARD ACTION REPORT
MEETING DATE: 05/05/26
AGENDA ITEM: 3.B. FIN - Resolution
No. 07-26 Ordering the Public
Infrastructure Project Relating to
Assessment District No. 15 - Festival
Ranch
DATE PREPARED: 04/30/26
DISTRICT NO.: Festival Ranch
STAFF LIAISON: Larry Price, Special Districts Manager, lprice@buckeyeaz.gov,
(623) 349-6164
DEPARTMENT: Financial Services
AGENDA ITEM TYPE: Consent Agenda
Items / New Business
ACTION/MOTION: (This language identifies the formal motion to be made by the Council) 
Board of Directors of the Festival Ranch Community Facilities District (CFD) to take action on Resolution
No. 07-26 ordering the Public Infrastructure Project performed as described in Resolution No. 06-26
(Festival Ranch).
RELEVANT GOALS: 
GOAL 1: Fiscal Wellness and Financial Flexibility and Accountability
SUMMARY
PROJECT DESCRIPTION:
Financing to allow the developer, Pulte Home Company, LLC, to be reimbursed for a portion of the cost
of public infrastructure. The eventual homeowner will be responsible for their respective share of the cost
in the form of a special assessment in the amount of $5,000. 
BENEFITS:
This financing allows the developer, Pulte Home Company, LLC, to be reimbursed for a portion of the
cost of the public infrastructure, while causing the eventual homeowner to be responsible for their
respective share of the cost in the form of a special assessment in the amount of $5,000. Homeowners
may pay the assessment in full or may pay over a period of time in the form of debt service on the
District bonds. 
FUTURE ACTION:
1. Approve the levy of an assessment and assessment diagram pursuant to Resolution No. 08-26.
2. Record the Assessment in the amount of $5,000 per lot.
3. Conduct a final assessment hearing upon completion of the improvements.
4. Approve the final assessment amount pursuant to a future resolution.
5. Approve the sale and issuance of Assessment District No. 15 Special Assessment Revenue
Bonds, Series 2026 pursuant to a future resolution.
FINANCIAL IMPACT STATEMENT:
The assessment will serve as the funding source for bonds issued by the district to reimburse the
developer for infrastructure accepted by the City. The board will authorize any future bond issuances.
The cost of issuance for the bonds will be paid by the developer. The administrative cost of servicing the
bonds will be paid from the Board's operating and maintenance budget derived from the $0.30 per $100
net assessed value (NAV) property tax.

BUDGETED:
Yes
FISCAL YEAR:
FY2027
FUND/DEPARTMENT:
Festival Ranch CFD
Items related to a project or facility location must include an attached vicinity map for Council
Review.
ATTACHMENTS:
RES_07-26_-_Festival_Ranch_CFD_SARB_Sr._2026_-
_Ordering_the_Work__003__GT_HTS_Pulte_4.8.26__8005124.pdf