The MUD is part of your neighborhood. Have an idea on how to help out? Let us know!
The MUD can only set the Annual Debt Service tax rate at an amount that will collect enough to service that year's debt plus the fee for the paying agent.
If the MUD transfers money from the Operations & Maintenance Account to the Debt Service Account, it can only be used for debt service and may not be moved back to the Operations and Maintenance Account.
In August 2018, the MUD transferred $25,000 from the O&M Account to the Debt Service Account, bringing that account up to $380,000. In July 2019 the MUD transferred $25,000 from the O&M Fund to the DSF, bringing that Fund up to $419,000. After subsequent transfers in 2020-2023 the Debt Service Account
stands at $490,179. Which has allowed the District to only assess an Operations and Maintenance Tax for 2023.
The overall idea is to continue using the existing fund balance to pay the semi-annual bond coupon payments and subsidize the Debt Service Fund one more time in the last year of the bond payments, 2027.
Come out to the meetings and be a part of the discussion! Your input truly helps.
We meet the second Wednesday of the month, at 6:30 PM at the Mud Bldg on Wildlake Pkwy.