Ryan Cornell, the city’s administrative services director, presented resolutions Dec. 2 authorizing special‑tax bond issuances for two improvement areas in the Olson South Chandler Ranch specific plan. "Again, I wanna emphasize or reemphasize that, there are no fiscal impacts to the city or city as a whole," Cornell said during his presentation.

For Improvement Area 1 the council reviewed appraisal and value‑to‑lien limits and noted a prior maximum bond authorization of $21,000,000; based on current appraisals the feasible initial issuance for series A was described as $13,420,000 with future series anticipated to reach the full authorization as development proceeds. Staff estimated the effective tax rate for property owners in that area would be about 1.9 percent (currently approximately 1.11 percent with overlaps) and said the special taxes are collected on property tax bills (displayed as Mello‑Roos lines).

Council then considered an analogous authorization for Improvement Area 2 (northern planning areas 4 and 5). That area has a different bonding capacity; staff described a current feasible authorization of about $9,895,000 and a maximum authorization previously set at $19,000,000, with subsequent series expected as the subdivision develops.

Both resolutions were moved, seconded and approved on unanimous voice votes. Staff and bond counsel outlined next steps: circulation of preliminary and final official statements, pre‑pricing calls with underwriters, and bond pricing and closing anticipated in the coming weeks to months as development milestones are met.

Councilmembers asked how the charges appear on property tax bills and about term lengths; staff said the special tax will appear labeled as Mello‑Roos and that the bond term examples discussed included multi‑decade terms (35 years referenced in discussion). The staff presentation emphasized the debt is repaid by property owners in the CFD and that the city’s general fund is not on the hook for the infrastructure reimbursement bonds.