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.
The overall idea is to keep expenses down, and to be able to add to this account each year to offset future payment increases, and hopefully have enough to payoff the last 2 years when they get here.
Once the Bond is paid off, we no longer will be collecting taxes for it...This would reduce our taxes by roughly 1/3.
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.