Both Seven Oaks CDD I and Seven Oaks CDD II have authorized the merger of the two districts and approved a Merger Agreement. Among other things, the Merger Agreement makes provision for the filing of a petition, the proper allocation of the indebtedness, and the manner in which debt is to be retired. Seven Oaks CDD I was established in 2001 by Pasco County Ordinance 01-03 and currently covers approximately 649.369 acres of land. (The District was originally established under the name Saddlebrook Village CDD and was amended to Seven Oaks CDD I by Pasco County Ordinance 01-22.) Seven Oaks CDD II was established in 2002 by Pasco County Ordinance 02-23 and currently covers approximately 1,124.053 acres of land.