The county Board of Supervisors on Tuesday approved $569,413.70 in new special tax levies for those properties within the Gateway of the Americas project owned by La Jolla-based Los Alamos Land Co.
The lands are located within what's called community facilities district No. 98-1, Los Alamos International Center.
The tax levy would be to repay bonds sold in 1999 in the amount of $8.36 million out of a possible $40 million. The money is intended to finance the acquisition and construction of certain water, sewer, drainage and road-related facilities necessary to meet increased demands on the county as a result of the project's development and the pipelining and relocation of the South Alamo Canal.
The bonded indebtedness is both secured and repaid through the annual levy and collection of special taxes from all properties subject to the tax within the community facilities district.
Under the tax levy passed Tuesday, 62 parcels are included in the affected area. Tax bills will range from $128.98 to $72,705, depending on a number of factors, for a total tax liability of $569,413.70. Of that, two payments of $271,161.25 are due by March 2002 and Sept. 1, 2002, for interest; $10,000 due by Sept. 1, 2002, for principal; $17,000 for administrative expenses; and $91.20 in collection charges.