HomeMy WebLinkAboutCC AG PKT 2005-12-12 #N
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AGENDA REPORT
DATE: December 12, 2005
TO: Honorable Mayor and City Council
THRU: JohnB. Bahorski, City Manager
FROM: Lee Whittenberg, Director of Development Services
SUBJECT: ANNUAL REPORT FOR CITY OF SEAL BEACH
COMMUNITY FACILITIES DISTRICT NO. 2002-1
(HERON POINTE) - PURSUANT TO THE LOCAL
AGENCY SPECIAL TAX AND BOND
ACCOUNTABILITY ACT
SUMMARY OF REOUEST:
Receive and File Report. Under state law, when a Community Facilities District (also
known as Mello-Roos District) is formed, the Finance Department is required to submit a
report to the City Council reporting on its activity over the past year and its status. This
report meets the criteria of the state law.
BACKGROUND:
The purpose of this report is to comply with the provisions of the Local Agency Special
Tax and Bond Accountability Act (the "Act"). The Act provides that any local special
tax measure that is subject to voter approval on or after January 1, 2001, that would
provide for the imposition of a special tax by a local agency shall require the chief fiscal
officer of the levying local agency to file a report with its governing body no later than
January I, 2002, and at least once a year thereafter. The annual report shall contain both
of the following:
[J The amount of funds collected and expended, and
[J The status of any project required or authorized to be funded as identified in
subdivision (a) of Section 50015.1 and Article 1.5, Section 53410.
In compliance with the required report the Finance DepartIl).ent submits the following
information:
[J City of Seal Beach Community Facilities District No. 2002-1 (Heron Pointe) - On
September 23, 2002, the landowners within Community Facilities District No.
2002-1 (Heron Pointe) voted to incur an indebtedness and issue bonds in the
maxiInum amount of $5,000,000, and for the levying of a special tax.
[J The City of Seal Beach Community Facility District No. 2002-1 (Heron Pointe)
bonds were issued on August 4, 2005. .
AGENDA ITEM N
Z:\My Document1llolm Laln& HomcslCFD\Cl'D 2002-1.2005 Annual RoportCC StaffReport.doc1lwl12..oS..oS
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Receille and File Annual Report re:
Community Facilitie. District 2002-1 (Heron Pornte)
City Council Staff Report
December 12,2005
CJ The amount of funds collected and expended from the issuance date of August 4,
2005 until October 31, 2005 are shown on the SB165 Fund Summary attached to
this report.
CJ The ann~ report submitted next year will include the entire year from November
1,2005 to October 31,2006.
At this time, the following approximate amounts of work have been completed within the
CFD boundary:
CJ Sanitary Sewer Facilities - 95%
CJ Water Facilities - 95%
CJ Roadway Facilities - 90%
CJ Park, Access, Landscape and Wall Facilities - 75%
CJ Dry Utilities and Joint Trench - 75%
CJ Grading - 95%
CJ Engineering Plan Preparation - J 00%
FISCAL IMPACT:
None.
RECOMMENDATION:
Receive and File Report
e Whittenberg, Director
epartment of Development S
Attachment: SB165 Fund Summary for City of Seal Beach CFD No. 2002-1 (Heron
Pointe)
CFD 2002-1.2005 AnuuaI Report cc Staff Report
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