|
Agenda Item
ASR
Control 19-001248 |
||
|
MEETING DATE: |
12/17/19 |
|
|
legal entity taking action: |
Communities Facilities Districts |
|
|
board of supervisors
district(s): |
5 |
|
|
SUBMITTING
Agency/Department: |
County Executive Office (Approved) |
|
|
Department contact
person(s): |
Suzanne Luster (714) 834-3362 |
|
|
|
Louis McClure (714) 834-5999 |
|
Subject: Community Facilities
District Accountability Act
|
ceo CONCUR |
|
Clerk of the Board |
||||||||
|
Concur |
No Legal Objection |
Consent Calendar |
||||||||
|
|
|
3 Votes Board Majority |
||||||||
|
|
|
|
||||||||
|
Budgeted: N/A |
Current Year Cost:
N/A |
Annual Cost:
N/A |
||||||||
|
|
|
|
||||||||
|
Staffing Impact: |
No |
# of Positions:
|
Sole Source:
N/A |
|||||||
|
Current Fiscal Year Revenue: N/A
|
||||||||||
|
Prior Board Action: N/A
|
||||||||||
RECOMMENDED ACTION(S):
Receive and file the report for Community Facilities Districts 2001-1, 2002-1, 2003-1, 2004-1, 2015-1, 2016-1 and 2017-1 pursuant to the Local Agency Special Tax and Accountability Act.
SUMMARY:
Approval of the recommended action will allow the Community Facilities Districts to be in compliance with the Local Agency Special Tax and Accountability Act.
BACKGROUND INFORMATION:
Senate Bill 165 enacted the Local Agency Special Tax and Accountability Act (Act) which requires any local bond subject to voter approval to provide the following:
|
1. |
A statement indicating the specific purposes of the bond, |
|
2. |
A requirement that the proceeds be applied only to the specific purposes identified, |
|
3. |
The creation of an account into which the proceeds shall be deposited, and |
|
4. |
An annual report pursuant to California Government Code Section 53411 |
The Act applies to bonds issued on or after January 1, 2001, which would include County of Orange, Community Facilities Districts (CFDs) 2001-1, 2002-1, 2003-1, 2004-1, 2015-1, 2016-1 and 2017-1. Requirements one through three are fulfilled at CFD formation and bond issuance. The attached annual report complies with the fourth requirement. The annual report contains the amount of funds collected and expended and the status of any project required or authorized to be funded.
FINANCIAL IMPACT:
There is no cost associated with this item.
STAFFING IMPACT:
N/A
ATTACHMENT(S):
Attachment A - Community Facilities District Report
Attachment B - Government Code Sections 53410-53412