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6
Contra
= =L.. Costa
County
TO: BOARD OF SUPERVISORS
FROM: Stephen Ybarra, Auditor-Controller
DATE: January 10, 2006
SUBJECT: County of Contra Costa Community Facilities District
No. 2001-1 (Norris Canyon)
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND
JUSTIFICATION
RECOMMENDATIONS
ACCEPT Community Facilities District Administration Report on County of Contra Costa
Community Facilities District No. 2001-1 (Norris Canyon) as required by Sections 50075.3 and
53411 of the California Government Code.
FISCAL IMPACT
None. The report relates to Special Taxes approved by voters and bonds issued and secured
by said Special Taxes.
BACKGROUND/REASONS FOR RECOMMENDATIONS
On June 5, 2001 the Contra Costa County Board of Supervisors authorized the establishment of
Community Facilities District No. 2001-1 (Norris Canyon). The creation of the Community
Facilities District (CFD) authorized the levy of a Mello-Roos Special Tax on the Norris Canyon
Estates subdivision. The action of the Board also authorized the issuance of bonded
indebtedness secured by the approved Special Tax in the amount of$7,220,000. The (CFD)
bonds were issued on June 14, 2001.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
_/RECOMMENDATION OF COUNTY ADMINISTRATOR _ RECOMMEtOATION OF BOARD
COMMITTEE ,_.APPROVE _OTHER
SIGNATURE(S):
ACTION OF BOASON d sa Ka.Y /O17 06 APPROVED AS RECOMMENDED
VOTE OF SUPER RS
I HEREBY CERTIFY THAT THIS IS A
✓/UNANIMOUS(ABSENT TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE
Contact: Jim Kennedy DATE SHOWN.
5-7225
orig: Auditor-Controller
cc: County Administrator ATTESTED \A"rc4m Y /a c' 0
County Counsel
Public Works JOHN SWEETEN, CLERK OF
Community Development THE BOARD OF SUPERVISORS
via: Community Dev. (Redevelopment) AND COUNTY ADMINISTRATOR
Jones, Hall, Hill &White
Stone &Youngberg BY ,DEPUTY
Toll Brothers
Goodwin Consulting Group
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f
BACKGROUND/REASONS FOR RECOMMENDATIONS
The California Government Code Sections 50075.3 and 53411 require that specified information
be provided to the Board of Supervisors on an annual basis. The report requirements include information
on Mello-Roos CFD Special Taxes collected and CFD Bond issued. The attached CFD Administration
Report fulfills the requirement of the Government Code. The reporting requirements are summarized
below:
Section 50075.3
Item(a): Identify amount of special taxes that have been collected and expended.
Response to Item (a):In fiscal year 2004-05 a total of$525,730 was collected from property within
CFD No.2001-1. The special tax requirement for 2004-05 was $536,230 and was $901 less than
what it would have been due to the availability of surplus revenue from fiscal year 2003-04. The
$525,730 figure also reflects eight parcels delinquent a total of$10,,500. These revenues were
expended on principal and interest payments to the County of Contra Costa Community Facilities
District No. 2001-1 Special Tax Bonds that totaled$524,390. Additionally, approximately$12,740
was expended on expenses associated with administering the CFD.
Item(b): Identify the status of any project required or authorized to be funded by the special
taxes.
Response to Item (b): All CFD No. 2001-1 improvements have been completed and accepted by
the Public Works division of the County.
Section 53411
Item (a): Identify the amount of bonds that have been collected and expended.
Response to Item(a):A total of$7,220,000 in special tax bonds were issued by the County on
June 14, 2001. Upon issuance of the bonds, $6,000,000 was deposited into the Improvement
Fund and has been used to acquire the CFD No. 2001-1 improvements from the developer. An
additional $170,000 was used to pay the costs of issuing the bonds. Approximately$417,000 was
deposited in the Reserve Fund, and the remaining$487,000 was deposited in the Bond Fund as
capitalized interest. On September 1, 2005 a principal payment of$120,000 was made to retire
matured bonds. As of the date of this report, $6,860,000 in bonds are outstanding.
Item(b): Identify the status of any project required or authorized to be funded from bond
proceeds.
Response to Item (b): Same as above.
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