RES 02-25 Tartesso West CFD - FY2026 Final Budget (002)(GR 5.19.2025)(6546070.2).pdf

6546070.2 
RESOLUTION NO. 02-25 (Tartesso West) 
 
RESOLUTION OF THE BOARD OF DIRECTORS OF THE TARTESSO WEST 
COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA) 
APPROVING THE FINAL BUDGET OF THE DISTRICT FOR FISCAL YEAR 
2025/2026, BEGINNING JULY 1, 2025, AND ENDING JUNE 30, 2026. 
 
 
WHEREAS, on May 20, 2025, the Board of Directors (the “District Board”) of the Tartesso 
West Community Facilities District (City of Buckeye, Arizona) (the “District”) met and adopted the 
FY 2025/2026 proposed budget for the District; and  
 
WHEREAS, the District Board intends to adopt the fiscal year 2025/2026 Final Budget for 
the District (the “District Budget”); and 
 
WHEREAS, in the District Budget, the District Board has filed with the District Clerk the 
annual statements of the costs and expenditures of the District, including the amount of taxes to 
be raised to pay expenses of the District; and 
 
WHEREAS, the District published, as required by law, a notice that the District Board 
would meet on June 3, 2025, for the purposes of conducting a hearing on (i) the District Budget 
attached hereto as Exhibit A and incorporated by reference herein, and (ii) the tax levy; and 
 
WHEREAS, in accordance with Title 48, Section 716, Arizona Revised Statutes, and 
following public notice, the District Board met and held a public hearing on June 3, 2025, at which 
meeting any taxpayer was permitted to appear and be heard in favor of or against any of the 
proposed expenditures or tax levies. 
 
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE 
TARTESSO WEST COMMUNITY FACILITIES DISTRICT (CITY OF BUCKEYE, ARIZONA) as 
follows: 
 
Section 1.   
Budget Adopted.  The District Budget in the amount of $2,252,000 is 
hereby adopted as the budget of the District for the fiscal year 2025/2026. 
 
Section 2.    
No Invalidation of Proceedings.  No failure by County officials to properly 
return the delinquent list and no irregularity in the assessment or omission in the same, or 
irregularity of any kind in any proceedings shall invalidate such proceedings or invalidate any title 
conveyed by any tax deed, nor shall any failure or neglect of any officer or officers to perform any 
of the duties assigned to him or to them on the day within time specified work an invalidation of  
any  proceedings or  of  any  such  deed  or  sale  or  affect  the  validity of  the assessment and 
levy of taxes or of the judgment or sale by which the collection of the same may be enforced or 
in any manner affect the lien of the District upon such property for the delinquent taxes unpaid 
thereon, and no overcharge as to part of the taxes or of costs shall invalidate any proceedings for 
collecting of taxes or the foreclosure, and all acts of officers de facto shall be valid as if performed 
by officers de jure. 
 
Section 3.  
Conflicting Resolutions Repealed.  All resolutions and parts of resolutions 
in conflict are hereby repealed. 
 
Section 4. 
Collection by County Assessor.  Maricopa County, Arizona (the “County”),

6546070.2 
2 
is the assessing and collecting authority for the District, and the District Clerk is hereby directed 
to transmit a certified copy of this Resolution to the Assessor and Board of Supervisors of the 
County. 
 
PASSED AND ADOPTED by the Board of Directors of the Tartesso West Community 
Facilities District (City of Buckeye, Arizona), on June 3, 2025. 
 
 
___________________________________ 
District Chairman 
ATTEST: 
 
_______________________________ 
District Clerk 
 
 
APPROVED AS TO FORM: 
 
_______________________________ 
District Attorney 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit A:  FY 25-26 Final Budget

EXHIBIT A - BUDGET
Tartesso West Community Facilities District
Buckeye, Arizona
FY 2025-26
Total
General
Debt Service
FY 25-26
Revenues:
Property Taxes
$172,300
$1,642,400
1,814,700
    
Total revenues
172,300
          
1,642,400
         
1,814,700
    
Expenditures:
Administrative Fees
47,900
            
-
                     
47,900
          
Operations and Maintenance
200,200
          
-
                     
200,200
        
Debt services:
Principal retirement
-
                   
705,000
             
705,000
        
Interest and other fiscal charges
-
                   
937,400
             
937,400
        
Contingency
170,000
          
191,500
             
361,500
        
Total expenditures
418,100
          
1,833,900
         
2,252,000
    
Excess (deficiency) of revenues over
(under) expenditures
(245,800)
         
(191,500)
           
(437,300)
      
Other financing sources (uses):
Transfer from other funds
100
                  
-
                     
100
                
Transfers to other funds
-
                   
(100)
                   
(100)
              
Total other financing sources (uses)
100
                  
(100)
                   
-
                
Net Change in fund balances
(245,700)
         
(191,600)
           
(437,300)
      
Fund balances - beginning
245,700
          
191,600
             
437,300
        
Fund balances - ending
-
                   
-
                     
-
                
Total Full Cash Value Net Assessed
115,997,523
  
Total Limited Property Valuation Net Assessed
57,433,435
    
Tax Rate - Debt Service 
2.8597
$          
Tax Rate - O&M
0.3000
$

EXHIBIT A - BUDGET
Tartesso West Community Facilities District
Buckeye, Arizona
FY 2025-26
Actual
Budget
FY 23-24
Adopted
Projected
FY 25-26
Revenues:
Property Taxes
$1,494,000
$1,810,600
$1,809,000
$1,814,700
Developer Contribution
-
                        
247,360
          
225,900
          
-
                        
Total revenues
1,494,000
       
2,057,960
       
$2,034,900
1,814,700
       
Expenditures:
Administrative Fees
38,335
             
13,000
             
47,200
             
47,900
             
Operations and Maintenance
100,338
          
199,500
          
95,600
             
200,200
          
Debt services:
Principal retirement
640,000
          
740,000
          
760,000
          
705,000
          
Interest and other fiscal charges
702,557
          
905,983
          
881,800
          
937,400
          
Bond issuance costs
14,625
             
289,084
          
237,300
          
-
                   
Developer Reimbursement
-
                   
6,058,533
       
6,631,100
       
-
                   
Contingency
-
                   
388,618
          
-
                   
361,500
          
Total expenditures
1,495,855
       
8,594,718
       
8,653,000
       
2,252,000
       
Excess (deficiency) of revenues over
(under) expenditures
(1,855)
             
(6,536,758)
     
(6,618,100)
     
(437,300)
         
Other financing sources (uses):
Bonds issued
-
                   
6,030,000
       
6,580,000
       
-
                   
Premiums issued
-
                   
70,257
             
81,900
             
-
                   
Transfer from other funds
-
                   
6,058,533
       
6,631,100
       
100
                  
Transfers to other funds
-
                   
(6,058,533)
      
(6,631,100)
      
(100)
                 
Total other financing sources (uses)
-
                   
6,100,257
       
6,661,900
       
-
                   
Net Change in fund balances
(1,855)
             
(436,501)
         
43,800
            
(437,300)
         
Fund balances - beginning
395,373
          
436,501
          
393,500
          
437,300
          
Fund balances - ending
$393,518
$0
$437,300
$0
Total Full Cash Value Net Assessed
98,571,971
     
126,033,057
   
126,092,683
   
115,997,523
   
Total Limited Property Valuation Net Assessed
51,296,895
     
54,872,352
     
54,790,386
     
57,433,435
     
Tax Rate - Debt Service 
2.6175
$          
2.9997
$          
3.0041
$          
2.8597
$          
Tax Rate - O&M
0.3000
$          
0.3000
$          
0.3000
$          
0.3000
$          
FY 24-25 Budget