HomeMy WebLinkAboutResolution - 95 - 39 RESOLUTION NO. 95-39
RESOLUTION OF THE CITY OF SAN JACINTO ASSESSMENT DISTRICT NO. 94-1
ESTABLISHING THE ANNUAL SPECIAL 1995/ 6PUBLIC FACILITIES FOR FISCAL
Y
WHEREAS, the City Council of the CITY OF SAN jACINTO, CALIFORNIA,
(hereinafter referred to as the "Legislative Body" ) , has initiated
proceeding, held a public hearing, conducted an election and received a
favorable vote from the qualified electors relating to the levy of a
special tax in an assessment district, and as authorized pursuant to the
terms and provisions of the "Municipal Improvemetns Act of 191311 , and for
the issurance of bonds under the "Improvement Bond Act of 1915" ,
hereinafter be referred to as "District" and,
WHEREAS, this legislative body, by Ordinance as authorized by Section
2114 of the Streets and Highway Code of the State of California, has
authorized the leery of a special tax to pay for costs and expenses related
to said Assessment District , and this legislative body is desirous to
establish the specific rate of the special tax to be collected for the next
fiscal year for Pubilc Facilities .
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS :
SECTION 1 . That the above recitals are all true and correct .
SECTION 2 . That the specific rate and amount of the special tax to
be collected to pay for the costs and expenses for the next fiscal year
(1995,196) for
hereby
shed
the att ch d, refer ncedandincorporated determined Exhibit "A" .
as set forth n .
SECTION hat the rate as set forth abovea oes not exceed the
amount as --revicusiy authorized -y Ordi -
odv
t i approved b ysBelectors
is not: excess of that as previously p Y the qualified
of the District .
SECTION 4 . That the proceeds of the special tax shall be used to pay,
in whole or in Dart , the costs of the following, in the follwoing order of
priori-.✓:
A. Payment of principal and interest on any outstanding authorized
bonded indebtedness ;
B . Necessary replenishment of bond reserve funds or other reserve
funds ;
C. Payment of costs and expenses of authorized public facilities ;
epa, enr cf advances and loans , if appropriate .
The proceeds of the special taxes shall be used as set forth and shall
not be used for any other purpose.
SECTION 5 . The special tax shall be collected in the same manner
ordinary ad valorem property taxes are cclleeted, and shall be subject z�
the same penalties and same 'procedure and sale in cases of any delinquency
for ad valorem taxes, and the Tax Collector is hereby authorized to deduct
reasonable administrative costs incurred in collecting any said special
tax.
SECTION 5 . All monies above collected shall be paid into the
Assessment District 94-1 fund, including any bond fund and reserve funds .
SECTION 7 . The Auditor of the County is hereby directed to enter in
the next County assessment roll on which taxes will become due, opposite
each lot or parcel of land effected in a space marked "public improvement ,
special tax" or by any other suitable designation, the installment of the
special tax, and for the exact rate and amount of said tax, reference is
made to the attached Exhibit "A" .
SECTION 8 . The County Auditor shall then, at the close of the tax
collection period, promptly render to the City a detail report showing the
amount and/or amounts of such special tax installments , interest, penalties
and percentages so collected and form what property collected, and also
provide a statement of any percentages retained for the expense of making
any such collection.
MOVED, PASSED and ADOPTED at a regular meeting of the City Council
the 1st day of August, 1995 by the following .note :
AYES : Councilmembers Leahy, Oaks , Williams , Mayor Solorio
NOES : None
ABSTAIN None
ABSENT Council Seat Vacant
David Solorio Mayor
CERTIFICATION
ATTEST: I hereby certify that the foregoing is a true &
correct copy of Resolution No. 95-39 duly
Bob Wilson, City Clerk passed and adopted at a regular meeting held on
the 1st day of August , 1995 .
ro--e7pu y City Clerk Deputy City Clerk
THE
GOVERNMENT
FINANCE
GROUP
Annual Administrator's Report
City of San Jacinto
Assessment District 9 -1
Fiscal Year 1995/96
Table of Contents
Page
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
The Bonds
Debt Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Early Redemption Provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Assessment Payoffs . . . . . . . . . I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
BondFunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
The Assessments
Development Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Property Ownership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Delinquencies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Foreclosure Covenant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Calculation of the Annual Assessments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Appendices
Appendix A: Debt Service Schedules
Appendix B: Assessment Roll
Appendix C: Boundary Map
r intro d"t
The purpose of this report is to review the steps and calculations made in preparation for the
1995/96 annual assessment levy for Assessment District No. 94-1 ( AD 94-1 ). The report will
also provide the City of San Jacinto ( City ) staff with an overview of the current status of the
assessment district.
The report is divided into the following sections:
® Background
This section provides a brief overview and statistics on the formation of the assessment district
and the improvements financed.
® The Bonds
This section presents general information on the bonds to be issued for AD 94-1. Included
is a discussion of the bond funds.
® The Assessments
This section focuses on the assessment of property within AD 94-1. Here, property
subdivision activity and development status will be discussed. Also included is an explanation
of the steps taken to calculate the 1995/96 annual assessments.
® Several Appendices to this report provide original debt service schedules, the 1995196
assessment roll and a boundary map.
AD 94-1 page
ack round
Assessment District 94-1, also referred to as the Soboba Springs Project, was formed by the City
of San Jacinto under the provisions of the Municipal Improvement Act of 1913. Improvement
bonds were issued under the provisions of the Improvement Bond Act of 1915 to finance public
improvements needed within the boundaries of the assessment district.
In September 1987, CFD No. 88-1 ("CFD") was formed by the City. The purpose of the CFD
was to finance the construction of certain street, parkway and median landscaping, storm drainage,
and debris basin improvements, and public safety equipment and staffing required as Conditions
of Approval for Tract Map Nos. 21900-1 and 21900.
Due to slow home sales within the CFD and financial difficulties experienced by the original
developer of the project, the amount of special taxes collected to date has been insufficient to
allow for the construction of the originally designed improvements.
The formation of AD 94-1 is the result of meetings between with City and the Soboba Springs
homeowner's committee. The bond proceeds for AD 94-1 will be used to "buy out" and discharge
the existing CFD liens, and construct the improvements which were to have been constructed with
CFD bond financing, with certain approved modifications.
The property owners within AD 94-1 that receive the benefit of these improvements are
responsible for paying an annual special assessment to repay the bonded debt. The annual
assessment appears on the Riverside County property tax bill and is collected with it. At any time,
property owners have the option to prepay the assessment in part or in full to minimize the burden
of annual payments.
Property owners within AD 94-1 will continue to be assessed a public safety special tax each year
under the CFD.
The following information summarizes the terms of the bond issue.
Total amount of bonds issued . . . . $6381366.70
. . . . . . . . . . . . . . . . . . . . .
Average annual debt service payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . $59,428.99
Date of the bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . August 16, 1994
Date of final maturity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . September 2, 2014
First annual assessment levy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fiscal year 1994/95
Final annual assessment levy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fiscal year 2013/14
AD 94-1 page 2
Improvements Financed
The following improvements will be constructed with proceeds from the sale of bonds:
■ Street Improvements: Construction of approximately 2,720 linear feet of Soboba Road
fronting the Soboba Springs project and golf course; primarily on the west side of the
street centerline.
■ Drainage Improvements: Construction in and near Soboba Road, generally north of the
Soboba Springs project on the west side of the road, includes 84" and 72" RCP storm
drains, 10' x 7' box culvert, paved channel,excavation, and appurtenant improvements.
■ Miscellaneous utility relocations necessary to construct the improvements described above.
AD 94-1 page 3
The Bonds
Bonds for AD 94-1 were issued on August 16, 1994 in the principal amount of$638,366.70. The
following pages provide basic information on key aspects of the bond issue.
Debt Service
The bonds issued for AD 94-1 have a term of 20 years, with a final maturity date of September 2,
2014. AD 94-1 is in its second year of repayment of the bonded debt.
The original repayment schedule, or debt service schedule, for the bonds appears in Appendix A
of this report. Also included is a breakdown of debt service for vacant land and for improved
land. This schedule represents the payments due to bondowners over the life of the bond issue
based on the original amount of bonds issued.
Early Redemption Provisions
AD 94-1 contains a provision that the City may call any bond for redemption prior to maturity on
any March 2 or September 2. When bonds are called, a 3% premium is added to the redemption
amount paid to bondowners. Money for early redemption may be generated from any of three
sources:
® Property owners prepay their assessments.
® Surplus monies remain after improvements are complete.
® A significant amount of interest is earned on the Reserve Fund balance over the Reserve
Requirement level (see page 5 for an explanation of the Reserve Fund).
Assessment Payoffs
When property owners pay off their assessments, they prepay the remaining principal balance in
full, plus interest due to bondowners until the date of the next bond call. They are also
responsible for the 3% premium associated with the bond call process.
One parcel has prepaid its assessment for AD 94-1, as shown in the following table.
APN Original Assessment Date Paid
433-332-014-3 $5,929.27 4/13195
AD 94-1 page 4
Bond Funds
The Bond Resolution requires that the City create and maintain several funds used to deposit bond
proceeds and process the revenues and payments of AD 94-1.
The purpose and use of each AD 94-1 bond fund is explained below.
Improvement Fund
The Improvement Fund is established to pay the costs of issuing the bonds and
constructing/acquiring the authorized improvements. The Improvement Fund was initially funded
with $966,452.16 of bond proceeds. The balance as of June 30, 1995 was $267,615.
Redemption Fund
The Redemption Fund is established for the deposit of assessment revenue and is used to make
principal and interest payments to bondhwners and to cover expenses incurred by the City in the
administration of AD 94-1. An amount of$47,372.95 was initially deposited to the Redemption
Fund, which represents two years of capitalized interest on all vacant land within AD 94-,1. The
balance as of June 30, 1995 was $36,158. Additional revenue from the collection of assessments
will be used to pay a total of$44,451.20 in principal and interest to bondholders on September 2,
1995.
Reserve Fund
The Reserve Fund is established as a back-up source of funds for principal and interest payments.
Reserve Fund monies are available to make up a shortfall for debt service if excessive
delinquencies occur. The Reserve Fund would then be replenished by the payment of delinquent
assessments or from revenue from foreclosure sales. An amount of$63,836.67, or 10% of the
principal amount of the bonds (Reserve Requirement), was initially deposited to the Reserve Fund.
The balance as of June 30, 1995 was $65,941. _
Rebate Fund
The purpose of the Rebate Fund is to deposit excess investment earnings on bond proceeds.
Excess earnings are defined as interest earnings above the yield of the bonds, which is referred
to as arbitrage. The City has covenanted to make no use of any proceeds of the bonds that
would cause the bonds to earn excess earnings or arbitrage.
AD 94-1 page 5
The Assessments
Each property within AD 94-1 is responsible for a portion of the total bonded amount. A special
assessment is levied on the properties each year and these revenues are used to repay the
bondowners.
To administer this repayment process, the City must track the subdivision of property within
AD 94-1 to ensure that the assessments are apportioned to the new parcels. Each year,the City
is also responsible for calculating the amount of the following year's assessment levy, and for
monitoring the receipt of property owner payments.
Development Status
At the time of formation, AD 94-1 consisted of 173 assessed parcels with a combined confirmed
assessment amount of$913,250.79.` At the time the bonds were sold, there were 109 parcels with
unpaid assessment amounts totalling $638,366.70.
Capitalized interest is to be applied as a credit toward assessments on vacant land during the first
two years of debt service. Consequently, 44 improved parcels with unpaid assessments are being
assessed during the 1995196 tax year.
Property Ownership
As property is subdivided, developed, and sold, the payment of annual assessments becomes
diversified among more property owners.
The chart below displays the change in property ownership within AD 94-1 that has occurred since
bonds were issued. The original ownership shown in the table below is based on a percentage of
the total original assessments. Current percentages are based on the total remaining assessments,
showing the distribution of responsibility for payment of AD 94-1 annual assessments. Current
ownership shown is based on the 1994/95 County secured tax roll.
Owner originaM" Current%
CPRG Soboba Ltd. 69.6% 5.1%
Nitto America Co. Ltd. 5.5% 5.5%
North County Bank 0.0% 12.4%
Pac West Limited 0.0% 52.6%
Individual Ownership 24.9% 24.4%
Total 100% 100%
AD 94-1 page 6
Delinquencies
Assessments for AD 94-1 appear as a line item on the property owners' tax bills. The tax bill is
payable to the County in two installments, due December 10 and April 10 of each year. Penalties
for delinquent assessment installments are calculated at 10% of the installment amount upon the
date of delinquency. An additional penalty of 1.5% per month is applied if the assessment
remains delinquent beyond the end of the fiscal year.
Tax Year 1994l95 Delinquencies
The aggregate levy for the 1994/95 tax year was $46,560.08. As of April 10, 1995, 1 parcel
remains delinquent in payment of their 1994/95 assessment installments for AD 94-1, representing
3.4% of the original levy.
PIY.," .' Dnsfa#lment oat Lace CMmr es Tt�tr3f;l �e:
433-324-003-8 $794.08 $91.31 $885.31
Foreclosure Covenant
Revenue from assessments is used to make semi-annual payments to bondowners. Consequently,
delinquent assessments can hinder the assessment district's ability to make those payments. The
City has covenanted with the bondowners to initiate foreclosure proceedings on property not later
than April 1 or August 1 of each year, following the date of delinquency. The City is not required
to initiate foreclosure proceedings, however, if the total delinquency for the fiscal year is less than
5% of the total assessment levy for that fiscal year, and the Reserve Fund remains at or above the
Reserve Requirement. The City is required, however, to initiate foreclosure against any single
property owner who is delinquent in excess of$1,500.
Because the Reserve Fund is at the required level and the delinquency rate is less than 5%, the
City has not been required to initiate foreclosure proceedings.
AD 94-1 page 7
Calculation of Annual Assessments
The annual assessment amount for each unpaid parcel within AD 94-1 will be based on a
repayment schedule which shows the amounts to be collected each year to pay off the parcel's
share of the bonded debt. To determine net assessment amounts for each parcel, the following
steps are taken:
® The parcel's principal and interest payment for the year is taken from its original repayment
schedule.
® Subtract a pro rata share of the interest earnings credited toward the assessments, if any.
® Add the parcel's pro rata share of paying agent, City staff and other costs of managing the
assessment district per §8682.1 of the California Streets and Highways Code.
■ Add the parcel's administration fee per §8682 of the California Streets and Highways Code,
which is equal to the lesser of$16.00 or 5% of principal plus interest.
The amount of installments for all parcels are totalled to arrive at the aggregate assessment levy.
Debt Service Requirements
The actual amounts due to bondowners during the 1995/96 tax year are shown below.
Interest due March 2, 1996 $7,097.70
Principal due September 2, 1996 20,000.00
Interest due September 2, 1996 7,0977
Total Debt Service $34,195.40
Administrative Cost Recovery
1915 Act assessment districts are self-supporting and do not require the City to provide funds for
administration or management fees. Consequently, the fees for 1995/96 administration have been
estimated and will be recovered through the annual levy in accordance with the California Streets
and Highways Code and the Engineer's Report.
Paying Agent Fees $1,000.00
Administrative Consultant 2,938.00
City Staff Fees 27800.00
Delinquency Monitoring Fees $15U-O
Total City Costs $69818.00
County Fees (deducted from proceeds) 69 54
Total Fees for 1995/96 $6,957.54
Sources of Recovery:
Per Parcel Administration Fees $711.04
Per Parcel Delinquency Fees $150.00
Pro Rata Debit $6,096S0
Total Recovery $6,957.54
AD 94-1 page 8
Aggregate Assessment Levy
A summary of the aggregate assessment levy for 1995/96 is provided in the following table.
Following the table are additional notes pertaining to these calculations.
Calculation Principal Interest Crecift Debit AdMin Total
Fee!
Requirements 20,000.00 14,195.40 0.00 6,246.50 711.04 41,152.94
1995/96 Levy 18,764.38 13,318.37 0.00 6,246.58 711.29 39,040.62
Variance (1,235.62) (877.03) 0.00 0.08 0.25 (2,112.32)
Calculation Notes
® The Principal and Interest amounts listed as Requirements are taken from the original debt
service schedule.
® There was no Credit for interest earnings spread to the assessment district for the 1995/96
fiscal year.
• The Debit represents bond registration, paying agent, county fees and other costs applied to
the assessment district, spread pro rata to each of the 44 parcels assessed for the 1995/96 fiscal
year.
® TheAdmin Fee represents a per-parcel administration charge equal to the lesser of$16.00 or
5% of principal plus interest, placed on each of the 44 parcels assessed for fiscal year
1995/96.
• The Variance is due to rounding.
The 1995/96 assessment roll is included in Appendix B of this report.
AD 94-1 page 9
Appendix Aa
Debt Service Schedules
CITY OF SAN JACINTO
ASSESSMENT DISTRICT 94-1
Original Debt Service Schedule
Payment Period Annual
Date Principal Coupon Interest Total Total
3/02/ 1995 22,958.68 22,958.66
9/02/ 1995 23,366.70 4.500% 21,084.50 44,451.20 67,409.88
3/02/ 1996 20,558.75 20,558.75
9/02/ 1996 20,000.00 5.000% 20,558.75 40,558.75 61,117.50
3/02/ 1997 20,058.75 20,058.75
9/02/ 1997 20,000.00 5.250% 20,058,75 40,058.75 60,117.50
3/02/ 1998 19,533.75 19,533.75
9/02/ 1998 20,000.00 5.400% 19,533.75 39,533.75 59,067.50
3/02/ 1999 18,993.75 18,993.75
9/02/ 1999 20,000.00 5.650% 18,993.75 38,993.75 57,987.50
3/02/ 2000 18,428.75 18,428.75
9/02/ 2000 20,000.00 5.900% 18,428.75 38,428.75 56,857.50
3/02/ 2001 17,838.75 17,838.75
9/02/ 2001 25,000.00 6.000% 17,838.75 42,838.75 60,677.50
3/02/ 2002 17,088.75 17,088.75
9/02/ 2002 25,000.00 6.100% 17,088.75 42,088.75 59,177.50
3102/ 2003 16,326.25 16,326.25
9/02/ 2003 25,000.00 6.200% 16,326.25 41,326.25 57,652.50
3/02/ 2004 15,551.25 15,551.25
9/02/ 2004 30,000.00 6.300% 15,551.25 45,551.25 61,102.50
3/021 2005 14,606.25 14,60625
9/02/ 2005 30,000.00 7.125% 14,606.25 44,606.25 59,212.50
3/02/ 2006 13,537.50 13,537.50
9/02/ 2006 30,000.00 7.125% 13,537.50 43,537.50 57,075.00
3/021 2007 12,468.75 12,468.75
9/021 2007 35,000.00 7.125% 12,468.75 47,468.75 59,937.50
3/021 2008 11,221.88 11,221.88
9/02/ 2008 35,000.00 7.125% 11,221.88 46,221.88 57,443.75
3/021 2009 9,975.00 9,975.00
9/02/ 2009 40,000.00 7.125% 9,975.00 49,975.00 59,950.00
3/02/ 2010 8,550.00 8,550.00
9/02/ 2010 40,000.00 7.125% 8,550.00 48,550.00 57,100.00
3/02/ 2011 7,125.00 7,125.00
9/02/ 2011 45,000.00 7.125% 7,125.00 52,125.00 59,250.00
3/02/ 2012 5,521.88 5,521.88
9/02/ 2012 50,000.00 7.125% 5,521.88 55,521.88 61,043.75
3/02/ 2013 3,740.63 3,740.63
9/02/ 2013 50,000.00 7.125% 3,740.63 53,740.63 57,481.25
3/02/ 2014 1,959.38 1,959.38
9/02/ 2014 55,000.00 7.125% 1.959.38 56 959.38 58 918.75
638,366.70 550,213.18 1,188,579.88 1,188,579.88
CITY OF SAN JACINTO
ASSESSMENT DISTRICT 94-1A
IMPROVED LAND
Original Debt Service Schedule
Payment Period Annual
Date Principal Coupon Interest Total Total
3/02/ 1995 8,301.08 8,301.08
9/02/ 1995 23,366.70 4.500% 7,623.45 30,990.15 39,291.23
3/02/ 1996 7,097.70 7,097.70
9/02/ 1996 20,000.00 5.000% 7,097.70 27,097.70 34,195.39
3/02/ 1997 6,597.70 6,597.70
9/02/ 1997 11,031.24 5.250% 6,597.70 17,628.94 24,226.63
3/02/ 1998 6,308.13 6,308.13
9/02/ 1998 5,000.00 5.400% 6,308.13 11,308,13 17,616.25
3/02/ 1999 6,173.13 6,173.13
9/02/ 1999 5,000.00 5.650% 6,173.13 11,173,13 17,346.25
3/02/ 2000 6,031.88 6,031,88 -
9/02/ 2000 5,000.00 5.900% 6,031.88 11,031.88 17,063.75
3/02/ 2001 5,884.38 5,884.38
9/02/ 2001 10,000.00 6.000% 5,884.38 15,884.38 21,768.75
3/02/ 2002 5,584.38 5,584.38
9/02/ 2002 10,000.00 6.100% 5,584.38 15,584.38 21,168.75
3/02/ 2003 5,279.38 5,279.38
9/02/ 2003 5,000.00 6.200% 5,279.38 10,279,38 15,558.75
3/02/ 2004 5,124.38 5,124.38
9/02/ 2004 10,000.00 6.300% 5,124.38 15,124.38 20,248.75
3/02/ 2005 4,809.38 4,809.38
9/02/ 2005 10,000.00 7.125% 4,809.38 14,809.38 19,618.75
3/02/ 2006 4,453.13 4,453.13
9/02/ 2006 10,000.00 7.125% 4,453.13 14,453.13 18,906.25
3/02/ 2007 4,096.88 4,096.88
9/02/ 2007 10,000.00 7.125% 4,096.88 14,096.88 18,193.75
3/02/ 2008 3,740.63 3,740.63
9/02/ 2008 10,000.00 7.125% 3,740.63 13,740.63 17,481.25
3/02/ 2009 3,384.38 3,384.38
9/02/ 2009 15,000.00 7.125% 3,384.38 18,384.38 21,768.75
3/02/ 2010 2,850.00 2,850.00
9/02/ 2010 10,000.00 7.125% 2,850.00 12,850.00 15,700.00
3/02/ 2011 2,493.75 2,493.75
9/02/ 2011 15,000.00 7.125% 2,493.75 17,493.75 19,987.50
3/02/ 2012 1,959.38 1,959.38
9/021 2012 20,000.00 7.125% 1,959.38 21,959.38 23,918.75
3/02/ 2013 1,246.88 1,246.88
9/02/ 2013 15,000.00 7.125% 1,246.88 16,246.88 17,493.75
3/02/ 2014 712.50 712.50
9/02/ 2014 20,000.00 7.125% 712.50 20 712.50 21,425.00
239,397.94 183,580.31 422,978.25 422,978.25
CITY OF SAN JACINTO
ASSESSMENT DISTRICT 94-11B
VACANT LAND
Original Debt Service Schedule
Payment Period Annual
Date Principal Cou on Interest Total Total
3/02/ 1995 14,657.60 14,657.60
9/021 1995 0.00 4.500% 13,461.05 13,461.05 28,118.65
3/021 1996 13,461.05 13,461.05
9/02/ 1996 0.00 5.000% 13,461.05 13,461.05 26,922.11
3/02/ 1997 13,461.05 13,461.05
9/021 1997 8,968.76 5.250% 13,461.05 22,429.81 35,890.87
3/021 1998 13,225.63 13,225.63
9/02/ 1998 15,000.00 5.400% 13,225.63 28,225.63 41,451.25
3/02/ 1999 12,820.63 12,820.63
9/02/ 1999 15,000.00 5.650% 12,820.63 27,820.63 40,641.25
3/02/ 2000 12,396.88 12,396.88
9/021 2000 15,000.00 5.900% 12,396.88 27,396.88 39,793.75
3/02/ 2001 11,954.38 11,954.38
91021 2001 15,000.00 6.000% 11,954.38 26,954.38 38,908.75
3/02/ 2002 11,504.38 11,504.38
9/02/ 2002 15,000.00 6.100% 11,504.38 26,504.38 38,008.75
3/02/ 2003 11,046.88 11,046.88
9/02/ 2003 20,000.00 6.200% 11,046.88 31,046.88 42,093.75
3/02/ 2004 10,426.88 10,426.88
91021 2004 20,000.00 6.300% 10,426.88 30,426.88 40,853.75
3/021 2005 9,796.88 9,796.88
9/02/ 2005 20,000.00 7.125% 9,796.88 29,796.88 39,593.75
3/02/ 2006 9,084.38 9,084.38
9/02/ 2006 20,000.00 7.125% 9,084.38 29,084.38 38,168.75
3/02/ 2007 8,371.88 8,371.88
9/02/ 2007 25,000.00 7.125% 8,371.88 33,371.88 41,743.75
3/02/ 2008 7,481.25 7,481.25
9/02/ 2008 25,000.00 7.125% 7,481,25 32,481.25 39,962.50
3/02/ 2009 6,590.63 6,590.63
9102/ 2009 25,000.00 7.125% 6,590.63 31,590.63 38,181.25
3/02/ 2010 5,700.00 5,700.00
9/02/ 2010 30,000.00 7.125% 5,700.00 35,700.00 41,400.00
3102/ 2011 4,631.25 4,631.25
9/02/ 2011 30,000.00 7.125% 4,631.25 34,631.25 39,262.50
3102/ 2012 3,562.50 3,562.50
9/02/ 2012 30,000.00 7.125% 3,562.50 33,562.50 37,125.00
3/02/ 2013 2,493.75 2,493.75
9/021 2013 35,000.00 7.125% 2,493.75 37,493.75 39,987.50
3/02/ 2014 1,246.88 1,246.88
9/021 2014 35,000.00 7.125% 1,246.88 36,246.88 37A93.75
398,968.76 366,632.87 765,601.63 765,601.63
Appendix B:
Assessment Roll
CITY OF SAN JACINTO
Assessment District No. 94-1A
Fund No. 68-2811
Direct Assessments For 1995-96
Assessor's Misc. Misc. Admin Total
Parcel Number Principal Interest Credit Debit Fee Assessment
433-100-015-7 2,949.72 2,093.62 0.00 958.36 16.16 6,017.86
433-321-004-0 339.68 241.09 0.00 110.36 16.17 707.30
433-321-005-1 339.68 241.09 0.00 110.36 16.17 707.30
433-321-006-2 339.68 241.09 0.00 110.36 16.17 707.30
433-321-009-5 339.68 241.09 0.00 110.36 16.17 707.30
433-321-010-5 339.68 241.09 0.00 110.36 16.17 707.30
433-321-012-7 339.68 241.09 0.00 110.36 16.17 707.30
433-322-005-4 337.26 239.38 0.00 109.58 16.16 702.38
433-322-008-7 337.26 239.38 0.00 109.58 16.16 702.38
433-322-009-8 337.26 239.38 0.00 109.58 16.16 702.38
433-322-010-8 337.26 239.38 0.00 109.58 16.16 702.38
433-322-011-9 321.32 228.07 0.00 104.40 16.17 669.96
433-322-013-1 337.26 239.38 0.00 109.58 16.16 702.38
433-322-014-2 337.26 239.38 0.00 109.58 16.16 702.38
433-322-015-3 355.61 252.40 0.00 115.54 16.17 739.72
433-322-018-6 337.26 239.38 0.00 109,58 16.16 702.38
433-322-019-7 324.88 230.59 0.00 105.55 16.16 677.18
433-323-007-9 339.68 241.09 0.00 110.36 16.17 707.30
433-323-009-1 339.68 241.09 0.00 110.36 16.17 707.30
433-323-011-2 337.26 239.38 0.00 109.58 16.16 702.38
433-323-013-4 337.26 239.38 0.00 109.58 16.16 702.38
433-323-020-0 337.26 239.38 0.00 109.58 16.16 702.38
433-323-024-4 337.26 239.38 0.00 109.58 16.16 702.38
433-323-026-6 321.32 228.07 0.00 104.40 16.17 669.96
433-323-028-8 400.64 284.37 0.00 130.17 16.16 831.34
433-323-033-2 339.68 241.09 0.00 110.36 16.17 707.30
433-324-003-8 339.68 241.09 0.00 110.36 16.17 707.30
433-324-007-2 355.61 252.40 0,00 115.54 16.17 739.72
433-324-009-4 339.68 241.09 0.00 110.36 16.17 707.30
433-324-010-4 339.68 241.09 0.00 110.36 16.17 707.30
433-324-011-5 339.68 241.09 0.00 110.36 16.17 707.30
433-324-012-6 339.68 241.09 0.00 110.36 16.17 707.30
433-324-013-7 339.68 241.09 0.00 110.36 16.17 707.30
433-325-007-5 355.61 252.40 0.00 115.54 16.17 739.72
d33-325-nn8-6 955.61 252.40 0.00 115.54 16.17 739.72
433-332-013-2 495.35 351.58 0.00 190.94 16.17 1,054.04
433-332-015-4 495.35 351.58 0.00 190.94 16.17 1,054.04
433-332-016-5 495.35 351.58 0.00 190.94 16.17 1,054.04
433-333-009-2 447.52 317.64 0.00 145.40 16.16 926.72
433-333-010-2 447.52 317.64 0.00 175.40 16.16 956.72
433-333-015-7 447.52 317.64 0.00 145.40 16.16 926.72
433-333-029-0 447.52 317.64 0.00 145.40 16.16 926.72
1
CITY OF SAN J CI T
Assessment District No. 94.-1A
Fund No. 68-2811
Direct Assessments For 1995-96
Assessor's Misc. Misc. Admin Total
Parcel Number Principal Interest Credit Debit Fee Assessment
433-333-032-2 447.52 31T64 0.00 145.40 16.16 926.72
433-333-033-3 495.35 351.58 0.00 190.94 16.17 1,054.04
Total 44 18,764.38 13,318.37 0.00 6,246.58 71129 39,040.62
2
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