Approval of New Bonds, Town Golf Cart Rules on AMSCD Agenda
Published on Monday, 04 June 2012 16:28
The Ave Maria Stewardship Community District board will be asked Wednesday to give final approval to the issuance of $29.1 million in long-term bonds to retire a short-term debt obligation that comes due this fall. The bond offering is fully subscribed.
The debt being refinanced is about half of the total bond obligations originally taken out in 2006 that paid for major infrastructure of the town of Ave Maria, including Ave Maria Blvd. and Pope John Paul II Blvd, their sidewalks, landscaping, streetlights and other ancillary items, as well as the master irrigation system and the stormwater management system that includes 116 lakes in the town.
Half of that debt is in long-term bonds, the interest on which is being paid through assessments on the town's first 2,500 residences. Current residents see this in their supplemental annual assessments. These assessments will not change, and the new offering does not affect anyone who owns one of the first 2,500 homes built in Ave Maria.
The interest on the new offering will be paid initially by the landholders in what is described as Phase Two, where the next 2,500 residences will be built, and eventually will be paid by owners of the homes built on that land, whose non-ad valorum assessments will be about 20 percent higher than current homeowners.
Also up for approval at the board meeting is final approval of rules and regulations governing the operation and registration of golf carts within the district. The rules, which have been previously discussed at board meetings and circulated to residents, set minimum standards for the type of equipment carts must have, including brakes, lights, turn signals and appropriate insurance, and set a minimum age of 14 for driving a golf cart on district roads. Driving and parking golf carts on sidewalks also is prohibited.
The Collier County Sheriff's Office will enforce the regulations.
Below is the agenda for the meeting, which begins at 9 a.m. Wednesday, June 6 and is open to the public. For a copy of the golf cart rules and regulations, click here.
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
Ave Maria Master Association (office/fitness center)
5076 Annunciation Circle, Suite 103
Ave Maria, Florida 34142
REGULAR BOARD MEETING
June 6, 2012
A. Call to Order
B. Pledge of Allegiance
C. Proof of Publication
D. Establish Quorum
E. Additions or Deletions to Agenda
F. Comments from the Public for Items Not on the Agenda
G. Approval of Minutes
1. May 1, 2012 Regular Board Meeting Minutes
2. May 1, 2012 Continued Regular Board Meeting Continued to May 16, 2012 Minutes
H. Old Business
1. Consider Resolution No. 2012-05 – Adopting a Golf Cart Program for Operation of Golf Carts on Certain Roads within the District
- Audience Comment
I. New Business
1. Consider Resolution No. 2012-04 – Approving the Second Sub-Master Final Supplemental Assessment Methodology Confirming and Memorializing the Imposition and Levy of the First Lien for the Non-Ad Valorem Special Assessments
J. Administrative Matters
1. Legal Report
2. Engineer Report
3. Manager's Report
K. Board Members Comments