This Mello-Roos District was formed in 2005 to pay for infrastructure improvements and public facilities that benefit the district. In November 2007, the City issued $34,070,000 in Special Tax Bonds that were to be paid in full by 2038.
Since the issuance of the original bonds, several market conditions turned more favorable and allowed the City to pay off the original bonds and issue CFD No. 2005-01 2014 Special Tax Refunding Bonds in January 2014. The refunding bonds have the same final maturity date in 2038 and will reduce property owners’ special tax payments beginning in FY 2014-15.
For more information, please contact Gina Tharani, Director of Financial Services at (949) 425-2520.