Report Prepared by: Faye S. Law, Accountant II
Title
SUBJECT: Information Only - Community Facilities District (CFD) Annual Reports
REPORT IN BRIEF
Governmental Codes relating to special tax measures and local bond issues require Community Facilities Districts Annual Reports be prepared and filed with the Agency's governing board annually.
RECOMMENDATION
For Information only
Body
AUTHORITY
Governmental Code Sections 50075.1, 50075.3, and 50075.5 relating to special tax measures and Sections 53410, 53411, and 53412 relating to local bond issues.
CITY COUNCIL PRIORITIES
As provided for in the 2015-16 Adopted Budget.
DISCUSSION
On January 5, 2004 Community Facilities District No. 2003-2 (Services) was formed to collect special taxes in certain improvement areas related to growth. The special taxes pay for costs including, but not limited to, public safety, landscape, storm drain, sidewalk, park, and parkway maintenance.
On July 19, 2004 the City Council formed Community Facilities District No. 2003-1 (Bellevue Ranch East) to provide public infrastructure financing. The District issued $12,745,000 in 2005 Special Tax Bonds on August 4, 2005.
On November 21, 2005 the City Council formed Community Facilities District No. 2005-1 (Bellevue Ranch West Improvement Area 1) to provide public infrastructure financing. The District issued $7,410,000 in 2006 Special Tax Bonds on July 27, 2006.
On July 3, 2006 the City Council formed Community Facilities District No. 2006-1 (Moraga of Merced) to provide public infrastructure financing. The District issued $5,840,000 in 2006 Special Taxes Bonds on December 14, 2006.
The Government Code Sections listed above require annual reports be prepared and filed with an agency's governing board. Attached are reports that meet the requirement.
IMPACT ON CITY RESOURCES
No budget appropriation is required.
ATTACHMENTS
1. CFD No. 2003-2 (Services)
2. CFD No. 2003-1
3. CFD No. 200...
Click here for full text