The Centerra Community Facilities District (District) is a special purpose district created specifically to acquire or construct public infrastructure within specific areas of the City of Goodyear, Arizona, and is authorized under state law to issue general obligation (GO) or revenue bonds to be repaid by property (ad valorem) taxes levied on property within the District (for GO debt), or by specific revenues generated within the District (revenue bonds). The District was created by petition to the City Council by property owners within the area to be covered by the District, and debt may be issued only after approval of the voters within the District.
The District, a component unit of the City of Goodyear, Arizona (City), was established September 10, 2001, and is a political subdivision of the State of Arizona as well as a municipal corporation by Arizona Law. The City Council serves as the Board of Directors. All transactions of the District are included in the City’s financial statements. However, the City has no liability for the debt.
The Centerra Community Facilities District will appear on your property tax statement from Maricopa County as "CFD - CENTERRA". The GO debt is paid for through the normal property tax process with the county. Payment of the debt service is through collections of an ad valorem property tax levy on properties within the district based upon the assessed valuation. The Maricopa County Assessor determines the assessed value of the property and the Maricopa County Treasurer collects the property tax.