Superstition Vistas CFD No. 2 confirms assessments on 520 lots and authorizes up to $2.6M in bonds

Chairperson Wilson presided over a special June 2, 2026 meeting of the Superstition Vistas Community Facilities District No. 2, where the board confirmed final assessments for Assessment Area 4 and authorized the sale of special assessment bonds to finance Blossom Rock Trail Phase 2.

Zack, the presenter, told the board that Assessment Area 4 covers 520 lots each to be assessed $5,000, for an anticipated aggregate assessment of $2,600,000. "This is the final public chance for for folks to object to um either the amount of the assessment or to state that the project does not benefit their lot," Zack said, describing the public-hearing role and the documentation recorded against the lots. He said the district engineer and city public works staff had confirmed the project's completion to city standards.

After opening the public hearing and allowing the five-minute comment period, Chairperson Wilson said no members of the public indicated a desire to speak and closed the hearing. The board then voted on two resolutions connected to the assessment and financing.

A motion to adopt Resolution SVCFD2 2026-00008 to approve the final assessment for Assessment Area 4 — determining that work was completed in accordance with approved plans and ordering collection of the assessment — passed unanimously on roll call. The board then moved to adopt Resolution SVCFD2 2026-00009, authorizing issuance and sale of the district's Assessment Area 4 special assessment bonds, Series 2026, including approving form documents, appointing registrar/transfer and paying agents, and authorizing other actions necessary to secure payment of the bonds. That motion also passed unanimously.

According to the presentation, the bonds are structured so assessments and bond payments run for a 25-year period; property owners retain the right to prepay their individual assessments. The bond resolution includes standard provisions discussed by the presenter: not-to-exceed interest-rate language, a debt-service reserve structure, provisions for capitalized interest, and replacement procedures for lost certificates or surrendered bonds. The presenter also noted a preliminary official statement will be used to market the bonds to potential investors.

Chairperson Wilson noted there were no district manager, director, or treasurer reports, and adjourned the meeting.