Title
Auditor-Controller recommending the Board:
1) Receive and file the attached annual reports as required by SB 165 for Community Facilities District No. 1992-1 (CFD 1992-1 Serrano), Community Facilities District 2000-1 (CFD 2000- 1 South Lake Tahoe Recreation Facilities JPA), Community Facilities District No. 2001-1 (CFD 2001-1 Promontory), Community Facilities District No. 2005-1 (CFD 2005-1 Blackstone), Community Facilities District No. 2005-2 (CFD 2005-2 Laurel Oaks), Community Facilities District No. 2014-1 (CFD 2014-1 Carson Creek}, Community Facilities District No. 2018-1 (CFD 2018-1 Bass Lake Hills), Community Facilities District No. 2019-1 (CFD 2019-1 Bass Lake Hills Services), Community Facilities District 2024-1 (CFD 2024-1 Carson Creek Heritage), and Community Facilities District 2024-2 (CFD 2024-2 Heritage at Carson Creek Village 11); and
2) Adopt and authorize the Chair to sign Resolution 188-2025 accepting said reports.
FUNDING: N/A
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DISCUSSION / BACKGROUND
Senate Bill 165 enacted the Local Agency Special Tax and Bond Accountability Act. This Act requires that any local special tax/local bond measure subject to voter approval contain a statement indicating the specific purposes of the special tax, requires that the proceeds of the special tax be applied to those purposes, requires the creation of an account into which the proceeds shall be deposited, and requires an annual report containing specified information concerning the use of the proceeds. The Act only applies to bonds issued on or after January 1, 2001, in accordance with Government Code (GC) Section 53410. The attached reports intend to comply with the relevant passages of GC Section 53411.
When reviewing the attached reports prepared pursuant to GC 53411, in conjunction with other reports, it is important to remember that the reporting requirements for local government debt in California are fairly complicated and extremely inconsistent. The Securities and Exchange Commiss...
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