HomeMy WebLinkAboutCC AG PKT 2007-12-10 # F
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AGENDA REPORT
DATE:
December 10, 2007
TO: Honorable Mayor and City Council
TIIRU: David Cannany, City Manager
FROM: Robbeyn Bird, Director of Administrative Services
Lee~ttenberg,DUectorofDeveIDpmentSenrices
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:
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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 plIIpOse 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 1, 2002, and at least once a year thereafter. The annual report shall contain both
of the following:
a The amount of funds collected and expen~ed, and
[J The status of any project required or authorized to be funded as identified in
subdivision (a) of Section 50075.1 and Article 1.5, Section 53410.
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In compliance with the required report the Finance Department submits the following
information:
a 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
maximum amount of $5,000,000, and for the levying of a special tax.
Agenda Item r
Z:~12-10-07 Collllcil Meeting - Ascuda ltemsIAS - Staff Report - lIenm PoiutCFD.doc\LW\11-21l-07
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Receive and File Annual Report re:
Community Facilities District 2002-1 (Heron Pointe)
City Council StqffReport
December 10, 2007
o The City of Seal Beach Community Facility District No. 2002-1 (Heron Pointe)
bonds were issued on August 4, 2005 in the amount of$3,985,000.00.
o The amount of funds collected and expended between November 1, 2006 and
October 31, 2007 are shown on the attached report.
At this time, the following amounts of work have been completed within the CFD
boundary:
o Sanitary Sewer Facilities - 100%
o Water Facilities -100%
o RQadway Facilities - 100%
o Park, Access, Landscape and Wall Facilities -100%
o Dry Utilities and Joint Trench - 100%
o Grading - 100%
o Engineering Plan Preparation - 100%
FISCAL IMPACT:
None.
RECOMMENDATION:
Receive and File Report.
NOTED AND APPROVED:
0-I>I:J,'(}_ ~
Robbeyn Bmi, Director
Department of Administrative Services
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David Carmany, Ci~ Manager
ee Whittenberg, Director
Department of Development Service
Attachment: City of Seal Beach Community Facilities District No. 2002-1 (Heron
Pointe) Special Tax Bonds, Series 2005 Annual Report
Heron Poinl em (3)
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