File #: 15-1279    Version: 1
Type: Agenda Item Status: Approved
File created: 10/21/2015 In control: Board of Supervisors
On agenda: 11/17/2015 Final action: 11/17/2015
Title: Auditor-Controller recommending the Board consider the following: 1) Receive Reports of Special Tax Delinquencies for Community Facilities District (CFD) 1992-1, Community Facilities District 2001-1 and Community Facilities District 2005-1; and 2) Adopt and authorize the Chair to sign Resolutions 189-2015 (Blackstone/CFD 2005-1)), 190-2015 (Promontory/CFD 2001-1) and 191-2015 (Serrano/CFD 1992-1) authorizing judicial foreclosures of delinquent special tax installments pursuant to the CFD 1992-1, CFD 2001-1, and CFD 2005-1 Bond Indentures.
Attachments: 1. A - Spec Tax Delinq Ltr 10-20-15 11-17-15, 2. B - Blackstone_Resolution 11-17-15, 3. C - Blackstone_Resolution_Exhibit A 11-17-15, 4. D - Promontory_Resolution 11-17-15, 5. E - Promontory_Resolution_Exhibit A 11-17-15, 6. F - Serrano_Resolution 11-17-15, 7. G - Serrano_Resolution_Exhibit A 11-17-15, 8. H - Blue Route 11-17-15, 9. I - Transmittal 15-1279 11-17-15, 10. Executed Transmittal, 11. Executed Resolution 189-2015, 12. Executed Resolution 190-2015, 13. Executed Resolution 191-2015
Title
Auditor-Controller recommending the Board consider the following:
1) Receive Reports of Special Tax Delinquencies for Community Facilities District (CFD) 1992-1, Community Facilities District 2001-1 and Community Facilities District 2005-1; and
2) Adopt and authorize the Chair to sign Resolutions 189-2015 (Blackstone/CFD 2005-1)), 190-2015 (Promontory/CFD 2001-1) and 191-2015 (Serrano/CFD 1992-1) authorizing judicial foreclosures of delinquent special tax installments pursuant to the CFD 1992-1, CFD 2001-1, and CFD 2005-1 Bond Indentures.
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DEPARTMENT RECOMMENDATION

The Auditor-Controller recommends the Board of Supervisors receive and file the attached Report of Special Tax Delinquencies for Community Facilities District No. 1992-1 (CFD 1992-1 Serrano).

The Auditor-Controller recommends the Board of Supervisors receive and file the attached Report of Special Tax Delinquencies for Community Facilities District No. 2001-1 (CFD 2001-1 Promontory).

The Auditor-Controller recommends the Board of Supervisors receive and file the attached Report of Special Tax Delinquencies for Community Facilities District No. 2005-1 (CFD 2005-1 Blackstone).

The Auditor-Controller recommends the Board of Supervisors adopt the attached Resolutions authorizing judicial foreclosure of delinquent special tax installments pursuant to the CFD 1992-1, CFD 2001-1 and CFD 2005-1 Bond Indentures.

DISCUSSION / BACKGROUND

The Bond Indentures for CFD 1992-1 (Serrano), 2001-1 (Promontory), 2005-1 (Blackstone) and 2005-2 (Laurel Oaks) require the Auditor-Controller to annually provide the Board of Supervisors with a list of Special Tax delinquencies relevant to these CFDs. Attached are such lists for tax year 2014 as of September 30, 2015 for CFD 1992-1 (Serrano), 2001-1 (Promontory), and CFD 2005-1 (Blackstone). There are no delinquencies for tax year 2014 in CFD 2005-2 (Laurel Oaks).

The Bond Indentures for these CFDs require the County to institute foreclosure proceedi...

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