ORDINANCE NO. 2989 AN ORDINANCE OF THE MAYOR AND COUNCIL OF THE TOWN OF GILBERT, MARICOPA COUNTY, ARIZONA, ADOPTING A SECONDARY PROPERTY TAX LEVY OF $36,635,000 FOR THE FISCAL YEAR JULY 1, 2026, TO JUNE 30, 2027; PROVIDING FOR REPEAL OF CONFLICTING ORDINANCES; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR PENALTIES. WHEREAS, the Town Council of the Town of Gilbert, Arizona, conducted various public meetings on the annual budget for Fiscal Year July 1, 2026, to June 30, 2027; and WHEREAS, the total levy needed to support FY 2027 annual debt service payments on all voter-approved bonds, delinquency, and reserves is estimated to be $36,635,000; and WHEREAS, the Town is estimated to have $1,880,000 of debt service fund balance at the beginning of FY 2027 (if collection rates continue to be consistent with prior years), which is below the state limitation of 10% maximum and above the Town policy of 5% minimum; and WHEREAS, state law requires the Town to adopt a secondary property tax levy in an amount to support the annual debt service with a reasonable delinquency rate, and allows the levy to include an amount for new debt to be issued within the year; and WHEREAS, state law provides the Town must adopt a tax ordinance before the third Monday of August, and report the taxing ordinance to Maricopa County. NOW THEREFORE, BE IT ORDAINED by the Common Council of the Town of Gilbert, Arizona, as follows: SECTION I. Tax Rate Adopted The Fiscal Year 2026-27 secondary property tax levy shall be $36,635,000 (estimated rate of $0.9800 per $100 of assessed value). SECTION 11. Repeal of Conflicting Ordinances All ordinances or parts of ordinances in conflict with the provisions of this Ordinance or any part of the Code adopted herein by reference are hereby repealed. SECTION III. Providing for Severability If any section, subsection, sentence, clause, phrase or portion of this Ordinance or any part of the Code adopted herein by reference is for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions thereof. SECTION IV. Providing for Penalties Any person found guilty of violating any provision of this Ordinance shall be guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine not to exceed two thousand five hundred dollars ($2,500) or by imprisonment for a period not to exceed six (6) months, or both such fine and imprisonment. Each day that a violation continues shall be a separate offense punishable as herein described. PASSED AND ADOPTED by the Common Council of the Town of Gilbert, Arizona, this 9th day of June, 2026, by the following vote: AYES: Anderson, Bongiovanni, Buchli, Buckland, Koprowski, Lyons, Torgeson NAYS: ______ ABSENT: _____ EXCUSED: ______ ABSTAINED: ____ APPROVED this 9th day of June, 2026. Scott Anderson, Mayor ATTEST: Chaveli Herrera, Town Clerk APPROVED AS TO FORM: Christopher W. Payne, Town Attorney I, CHAVELI HERRERA, TOWN CLERK, DO HEREBY CERTIFY THAT A TRUE AND CORRECT COPY OF THE ORDINANCE NO. 2989 ADOPTED BY THE COMMON COUNCIL OF THE TOWN OF GILBERT ON THE 9TH DAY OF JUNE, 2026, WAS POSTED IN ONE PLACE ON THE 10th DAY OF June, 2026. Chaveli Herrera, Town Clerk Pub: June 18, 25, 2026