Community Facilities Districts (CFDs), formed in accordance with the Mello-Roos Community Facilities Act of 1982, are defined areas within the City in which property owners have voted to impose special taxes in order to finance public improvements.
The City administers the following districts:
1994-1 (Marketplace Public Pedestrian Traffic Circulation and Parking Facilities)
The public improvements include the acquisition of land and the construction of a public parking structure, public walkways, and public plazas, including fixtures and construction of sidewalks, curbs, gutters, lighting, street widening, and traffic signals.
The district issued bonds in 1995 and most recently re-financed the bonds in 2012. The final maturity of the debt is 2031.
1997-1 (The Promenade Public Parking Facilities)
The public improvements include an asphalt paved, striped parking lot or lots with full parking lot improvements including street improvements for access, curbs and gutters, site lighting improvements, retaining walls, landscaping and irrigation improvements, security fences, grading and drainage improvements.
The district issued bonds in 1998. The final maturity of the debt is 2028.
This information is provided in accordance with California Government Code Section 53343.2.
While the City shall post its annual financial report as well as other financial reports on the City’s website, information with the intention of reaching the investing public or any other members of the investment community shall be filed on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access (EMMA) website.
Other than the specific information posted on EMMA, no other information should be relied upon in making an investment decision. Because each security issued by the City or its related entities may involve different sources of payment and security, investors should refer to the official statement for additional information on the particular security. The information posted on EMMA speaks only as of its date.