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The board approved an amendment increasing the general obligation debt-service tax from $3.85 to $5.00 and the maximum assessment per lot from $5,000 to $12,500. The amendment also extends the project-submission period from 10 years to 15 years.
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The approved changes allow the district to collect higher taxes and assessments to support infrastructure financing. The maximum charge per lot will rise to $12,500, while the district will have five additional years to submit projects. The resolution passed 5-1, with one board member excused.
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