Title
Auditor-Controller recommending the Board receive and file:
1) The attached Report of Special Tax Delinquencies for Community Facilities District No. 1992-1 (CFD 1992-1 Serrano);
2) The attached Report of Special Tax Delinquencies for Community Facilities District No. 2001-1 (CFD 2001-1 Promontory);
3) The attached Report of Special Tax Delinquencies for Community Facilities District No. 2005-1 (CFD 2005-1 Blackstone);
4) The attached Report of Special Tax Delinquencies for Community Facilities District No. 2014-1 (CFD 2014-1 Carson Creek);
5) The attached Report of Special Tax Delinquencies for Community Facilities District No. 2018-1 (CFD 2018-1 Bass Lake Hills); and
6) Adopt and authorize the Chair to sign the attached Resolutions 167-2024 (Promontory) and 168-2024 (Blackstone) authorizing judicial foreclosure of delinquent special tax installments pursuant to the CFD 2001-1 and CFD 2005-1 Bond Indentures.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
The Bond Indentures for CFD 1992-1 (Serrano), CFD 2001-1 (Promontory), CFD 2005-1 (Blackstone), CFD 2005-2 (Laurel Oaks), CFD 2014-1 (Carson Creek), and CFD 2018-1 (Bass Lake Hills), require the Auditor-Controller to annually provide the Board of Supervisors with a list of Special Tax delinquencies that exceed the threshold amounts identified in individual bond issuance documents for these CFDs. Attached are such lists as of August 28, 2024 for CFD 2001-1 (Promontory) and CFD 2005-1 (Blackstone). CFD 1992-1 (Serrano), CFD 2014-1 (Carson Creek), and CFD 2018-1 (Bass Lake Hills) have no delinquencies that exceed the threshold amounts. CFD 2005-2 (Laurel Oaks) has no delinquencies.
The Bond Indentures for these CFDs require the County to institute foreclosure proceedings on parcels that are delinquent in the amount exceeding the threshold identified in the bond issuance documents. As of August 28, 2024 there are eight (8) such parcels.
Six (6) parcels are located within Promontory and two (2) parcels are lo...
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