HomeMy WebLinkAboutResolution - 1903 i!I
' RESOLUTION No. 1903
III
l RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JACINTO,
CALIFORNIA, ESTABLISHING ANNUAL SPECIAL TAX FOR A COMMUNITY
1� 9i FACILITIES DISTRICT
.. THIS RESOLUTION IS ADOPTED WITH REFERENCE TO THE FOLLOWING
4 FACTS :
F WHEREAS , the C1TY _"OUNCIL of the CITY UP SAN JACINTO,
CALIFORNIA, (hereinafter referred to as the " legislative body" ( ,
6 has initiated proceedings, held a public hearing, conducted an
election and received a favorable vote from the qualified
^ I electors relating to the levy of a special tax in a community
I facilities district, all as authorized pursuant to the terms and
� I provisions of the "Hello-Rooe Community Facilities Act of 1982" ,
ibeing Chaptar 2 . 5, Part 1, Division 2 , Title 5 of the Government
q ( Code of the State of California. This Community Facilities
District shall hereinafter be referred to as COMMUNITY FACILI-
10 PIES DISTRICT NO, l ( hereinafter referred to as the "District" ( ;
and,
WHEREAS, this legislative body, by ordinance as authorized by
12 section 53340 of the ;overnment Code of the State of California,
has authorized the levy of a special tax to pay for costs and
115 expenses related to said Community Facilities ❑istrict., and this
7eginlit.ive body is desirous to establish the specific rate of
14 the special tax to be. collected for the next fiscal year.
I
15 NOW, THEREFORE., HE IT RESOLVED, by the City Council of the
City of San Jacinto, in regular season, this 3rd day of
16 ,July , 199U, as follows:
v�
17 1. That the above recitals are all true and cpscect.
18 1 . That the specific rate and amount of the special tax to be
collected to pay for the costs and expenses for the next
19 fiscal year ( 1990-1991 ) for the referenced District 15
hereby determined and established as set forth in the
20 attached, referenced and incorporated Exhibit "A" .
pl � 3 . That the rate as set forth above does not exceed the amount
as previously authorized by Ordinance of, this legislative
body, and is not is excess of that as previously approved
by the qualified electors of the District .
a . That the proceeds of the special tax shall be used to pay ,
2� in whole or in part, the casts of the following, in the
following order of priority:
25
A. Payment of principal of and interest on any outstanding
261 authorized bonded indebtedness;
27 H. Necessary replenishment of bond reserve funds or other
reserve funds ;
�B
C. Payment of costs and expenses of authorized public
29 facilities and public services .
30 D. Repayment of advances and loans, if appropriate.
�1 Tile proceeds of the opecial taxes shall be used as set
2 forth above, and shall nut be used for any other purpose.
� 3
it I
5 . 'Cho spe�zaI t,ax s h a it he gnIiected in the eame manner as
o rdinary ad va for em property taxes are collected, and
1 shall be subject to the eame penalties and same procedure
and sale in cases of any delinquency for ad valorem taxes ,
antl the Tax C'o hector is hereby authorized to deduct
JI reasonable administrative costs incurred in collecting any
said special tax .
b
A 6. All monies above collected shall be paid into the Commu-
pity Facilities District funds, Lncludinq any bond fund
and reserve fund .
? - The Auditor of the County is hereby directed to enter in
a
the next County assessment r011 On which taxes will 11ec.Om6
due, opposite each lot or par cei of land effected in n
iupace 'narked "puhIis i¢ipr��VemenLs, nl:c•cf al _;3 x" or by arty
other suitable designation, the installment nt the special
II
i. tax , and for [he exact rate and amount of said tax ,
,. reference in made to the attached Exhibit "A" .
to 8. The County Auditor shall then, at the close of the tax
y collection period , oromptIy render to this Agency a
detailed report showing the amount and/or amounts of such
special tax installments, interest, Penalties and percent-
1� ayes so collected and from what property collected, and
also provide a statement of any percentages retained for
13 the expense of making any such collection .
2-49. Tha City Clerk shall rer tify to the Adnptinn of thin
1?c,c olution.
15
16 MOVED , PASSED AND ADOPTED AT A REGULAR MEETING OF SAID CITY
COUNCIL duly held the 3rd day of July 1990.
17
18 ATTEST:
Mayor
20 _ 7
Deputy City Clerk
22
CERTIFICATE
l.J
ti4
The foregoing is certified to be a r,rue copy of a Resolution
nG duly adopted by said City Council of the City of San Jacinto on
t}te Gate I.Ilerein set forth.
26
'�7 ATTEST:
ud
29 — —
Deputy City Clerk
30
31
5 2 +W'
4r
:=};141BIT "A"
CITY OF SAN JACINTO
�.. COMMUNITY FACILITIES DISTRICT NO. 1
ASSESSMENT PARCEL NO. DIST- FUND NO. AMOUNT
No. 1 433-120-031 -3 68-2806 S 15 , 170 . 57
No_ 2 433-321-004-0 700 . 90
No. 3 433-321-005-1 "
No. 4 433-321-006-2 "
No. 5 433-321 -007-3 "
No. 6 433-321-008-4 "
No. 7 433-321-009-5 "
No. 8 433--321-010-5 "
r 9 433-321-011 -6 "
No. 10 433-321-012-7 "
No. 11 433-322-002-1 "
`~ No. 12 433-322-003-2 "
No. 13 433-322-004-3 "
No. 14 433-322-005-4 " "
No. 15 433-322-006-5 "
Edo. 16 433-322-007-6 "
".o. 17 433-322-008-7 "
No . 18 433-322-009-8 "
Na. 19 433-322-010-8 "
d0. 20 433-322-031 -9 "
No. 21 433-322-012-0 "
No . 22 433-322-013-1 "
No. 23 433-322-014-2 "
No. 24 433-322-015-3 "
No. 25 433-322-016-4 "
1 cf 4
EXHIBIT "A"
CITY OF SAN JACINTO
COMMUNITY FACILITIES DISTRICT NO. 1
ASSESSMENT PARCEL NO. DIST. FUND NO_ AMOUNT
No. 26 433-322-017-5 $ 700 . 90
No. 27 433-322-018-6 "
No. 28 433-322-019-7 "
No_ 29 433-323-001-3 "
Pao. 30 433-323-002-4 "
No. 31 433-323-003-5 " "
iJo_ 32 433-323-004-6 "
No. 33 433-323-005-7 "
Nn. 34 433-323-006-5 "
No. 35 433-323-007-9 "
No. 36 433-323-008-0 "
No. 37 433-323-009-1 "
No. 38 433-323-010-1
No. 39 433-323-011 -2 "
No. 40 433-323-012-3 "
No. 41 433-323-013-4 "
No. 42 433-323-014-5 "
Ilo. 43 433-323-0' 5-6 "
No. 44 433-323-016-7 "
. 45 433-323-017-8 "
Na. 46 433-323-018-9 "
Pi
No. 47 433-323-019-0 "
No. 48 433-323-D20-0 "
No. 49 433-323-021-1 "
No. 5[) 433-323-022-2 "
r
2 of 4
EXHIBIT "A"
CITY OF SAN JACINTO
COMMUNITY FACILITIES DISTRICT NO- 1
ASSESSMENT PARCEL NO. DIST- FUND NO. AMOUNT
No. 51 433-323-023-3 68-2806 $ -100. 90
No. 52 433-323-024-4 "
No. 53 433-323-025-5 " "
No. 54 433-323-026-6 "
No. 55 433-323-031 -0 "
No. 56 433-323-032-1 "
No. 57 433-323--033-2
No. 58 434-323-034-3 "
Nr 59 434-323-035-4 "
No_ 60 434-323-036-5 "
No. 61 434-323-037-6 "
No. 62 434-324-002-7 "
No. 63 434-324-003-8
No. 64 434-324-004-9 "
Na. 65 434-324-005-0
No. 66 434-324-006-1 "
N3 . 67 434-324-007-2
140. 68 434-324-008-3 "
No. 69 434-324-009-4 "
o. 70 434-324-010-4 "
� �. 71 434-324-011-5 "
No. 12 434-324-012-6
No. 73 434-324-013-7
No. 74 434-325-COI -9 "
Ida. 75 434-325-002-0 "
' of 4
EXHIBIT "A"
CITY OF SAN JACINTO
COMMUNITY FACILITIES DISTRICT NO. 1
ASSESSMENT PARCEL NO. DIST. FUND NO. AMOUNT
No. 76 433-325-003-1 68-2806 r 7f7Q. 90
No_ 77 433-325-004-2 "
No. 78 433-325-005-3 "
No. 79 433-325-006-4 "
Na. 30 433-3?5-007-5 "
., o. 81 433-325--008-6 "
No. 82 433-333-003-6 IL "
No. 83 433-333-004-7 "
N-. 84 433--333-005-8 "
No. 85 433-333-006-9 "
TOTAL S 74, 046 .47
,rw
I of 4
iJN ?i 3s MiJ ill F'_1•kNC :^AL :PuC
SPECIAL TAX REPORT
for
COMKVNITY FACILITIES DISTRICT NO. 2
(Fiscal year 1990/91)
CITY DP BAN JACXKTO
July 1990
MUNI FINANCIAL SERVICES, INC
31010 Avenida Buena suerte
Temecula, CA 92390
(714) 699-3990
BAgS (714)
.'Jli _. `- + 17 "011I r1H44Ni-IHi- ROC'S
'IF
1AUEjP�&-m*ftmc,
31M Avcmda Bueae Sucnc
Suitt 200
Tccmcuia, CA 423Yf1
I't41(,99-19QC
Fax i'14) 64 1-1 0
Ceau�arivpr.C.oun
<civ P.iA
Raman. CA 445h5
'�`5) ECO-S3L�1
.Tune 29, 1989
Mr. Ross Nammar
City Manager
City of San Jacinto
2r- East Main Street
54 Jacinto, CA 92383
Dear Mr. Nammar:
This special Tax Report will establish the special tax
required for Community Facilities District (CFD) No. 2 for fiscal
year 1990/91, The purpose of this report is to identify the �.
monetary needs of the CFD and to specify sources of revenue.
The special tax levy for FY90/91 will generate $1, 228,764 . 00
to pay for Administrative expenses and debt service for the ensuing
fiscal year. Earnings from funds invested will generate
$840, 564 . 00 in additional revenue also to be applied cn debt
:service. The annual levy will aiso generate $19 , 392. 96 in revenue
to be applied to the city's General Fund to pay for public safety
services.
If you have any questions, or if we may be cf further
assistance, please call me at (714) 699-3990 .
Very Truly Yours,
MUNI FINANCIAL SERVICES, INC.
Starry Clark
Managing Partner
Pnancia: C onsujujig and Administration
_l1N '111 N1 rIMa14c Iul.
v�
LIST OF PARTICIPANTS
ROSS S. NAMMAR
City Manager
City of San Jacinto
201 E. Main Street
San Jacinto, CA 92383
714-654-7337
HRIAN McNABB
Community Development Director
City of San Jacinto
201 E. Main Street
San Jacinto, CA 92383
714-654-7337
MUNI FINANCIAL SERVICES, INC
CFD Administrator
31010 Avenida Buena Suerte
Temecula, CA 92390
Attn: David Keltner
714-699-3990
�.. BROWN, HARPER, BURNS & HENTSCHKE
Bond Counsel
1151 Dove Street, Suite 160
Newport Beach, CA 92660
714-561-1915
UNION BANK
Panorama City
BOX 2461,T.A.
Las Angeles, CA 90051
Corporate Trust No. 308
Attention: David Oeser
818--895-4552
UNDERWRITER
Stone and Youngburg
San Francisco, CA
415-981-1314
CARL KADIE
Special Tax Consultant
Kadie, Jensen, Johnson & Badnar
6092 Cumulus Lane
San Diego, CA 92110
619-295-2596
City of San Jacinto -�
community Facilities District 2
I, introduction
A. Description of Proceedings. . . . . . . . . . . . . . . . . . . . . . . . . . . . I
B. Public Facilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I
C. Boundaries of the District. . . . . . . . . . . . . . . . . . . . . . . . . . . . I
D. Construction Progress & Major Events. . . . . . . . . . . . . . . . . 2
E. Services to be Financed by Special Tax. . . . . . . . . . . . . . . .2
F. Land Development. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
11. Data Review
A. Debt Service Requirement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .I
B. Reserve: Fund Deficiency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
C. Delinquencies in Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
D. Administrative Needs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
E. Capital Expenditures. . . . . . . . . . 6
F. Interest Earnings. . . . . . . . . . . . . . . . . . . . . . . . . 6
1. Remaining Capitalized Interest. . . . . . . . . . . . . . . . . . 6
2. Reserve Fund Interest Earnings. . . . . . . . . . . . . . . . . . . 6
3 . Escrow Fund Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
III. Method of Special Tax Spread. . . . . . . . . . . . . . . . . . . . . . . . . . . .7
A. Property categories and maximum Annual Tax. . . . . . . . . . . . 7
B. Application of Tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 ..
C. Escalation of Tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
D. Term. . . . . . . . . . . . . . . . . . . . . . . .9
E. Definitions. . . . . . . . . . . . . I . . . . . . . . . . 9
F. Special Tax Prepayment Formula. . . . , . . . 9
IV. Computation of Special Tax Requirement. . . . . . . . . . . . . . . . . . . sG
V. Special Tax Spread (Tax Roll) . . . . . . . . . . . . . . I . . . . . . . . . . . . 13
17N _' .'•� OUHI FI HAHF.111E
I_ �;�t�oduCtian
A. Descril2tion of s
On May 1, 1969, the City council of the City of San Jacinto
adopted the Bond Indenture to issue debt and establish the City
Council as the legislative body of Community Facilities District
No. 2 ("the District") . currently, $26, 000,000 of authorized debt
has been issued and will require the levy and collection of a
special tax. of the total band issue amount $16, 000,000 . 00 has
been pledged for Phase I improvements with the remaining
$10, 000, 000. 00 remaining in escrow. This Special Tax Report is
required to help determine the Special Tax Requirement for each
parcel within the District in order to meet the debt service
requirements of the bonds.
B. Pnblic Facilities
Proceeds of the Bonds are and will be used to finance the
co traction and/or acquisition of certain street improvements,
in, _uding grading, pavings , curbs, gutters and sidewalks, together
with street lighting, drainage facilities, landscaping, sanitary
sewer, water reservoir and pump and utility facilities, together
with appurtenances and appurtenant work in the Phase I and Phase II
Property. In addition to the improvements within the District
boundary, other improvements lying outside of the District are
included in the Project since they are necessary to the functioning
of the District improvements. These offsite improvements include
certain street improvements, water supply and transmission
facilities, sewer pipeline, grading, drainage facilities and public
utilities. A portion of the construction work of the Project has
been completed by the Master Developer and will be acquired by the
District. The remaining improvements of the Project will be
acquired or eonstructod by the District. Appendix "D" hereto is
the description of cost estimate on file with the clerk of the
City. Appendix D also contains boundary maps of the District
(indicating the Phase T Property and Phase II Property) and a legal
description of the District.
Proceeds for the Phase II Improvements in the amount of
$" .000, 000 was deposited in the Escrow Fund and will be released
f.,_ construction or acquisition of the Phase II Improvements only
upon satisfaction of certain conditions relating to estimated
Special Tax receipts, the lien to value ratio in the District as a
whole and with respect to the Phase II Property, and development
progress with respect to the Phase I property.
!J h4 _. "�ii I _ 'I LINI F I H H N t.I P L '.F'VC'
C. Boundaries of the District
The District encompasses an approximately 511 acre area of the —�
City bounded on the South by Washington Avenue, on the Bast by
Meridian Street and Mountain Avenue, on the: West by Hewitt Street
and on the North by Evans (Third) Street. The Phase I Property
consists of the approximately 300 acres located north of
commonwealth Avenue and the Phase 11 Property consists of the
approximately 211 retraining acres of the District.
D. Constructipn_ Progress & Major Events
Phase I improvements are nearing completion. Practically all
public facilities, streets, pipelines and drainage facilities are
approaching 9546 completion_ Fonr major developers, including
Barratt, Morrison Homes, Windsor Homes and John Laing have either
commenced or are completing construction on their phase of
development. Barratt is expected to close escrow on its first 13
units in July. To date 190 building permits have been issued for
798 subdivided lots within Phase I .
E. Services to be Financed Sy the Special Tax
The proceedings authorizing the Special Tax provide for a Tax
"A" and a Tax "B" . Tax A is generally for debt service on the
Bonds and administrative expenses of the District. Tax A will ,
generate $203 , 347.00 in revenue.
Tax B is designed to pay for additional police and fire
services needed to serve the residents and homeowners within the
boundaries of the District. Receipts from Tax B will, however, be
available to pay debt service on the Bonds, prior to being used for
such police and fire services, if there are insufficient funds
therefore. Residential building permits issued to date will
generate approximately $19 ,495.00 in revenue applicable to Tax B.
F. Land Develoument
Proposed development within the District may be subject to
u- �cpected delays, disruptions and changes. For example, land
d_ alopment operations may be adversely affected by changes in
general economic conditions, fluctuations in the real estate market
and interest rates, unexpected increases in development costs and
by other similar factors.
Moreover, land development operations within the District may
be adversely affected by future government policies, including, but
not limited to, governmental policies to restrict or control
development. Two specific Plans (Specific Plan Nos 1-88 and 2-88)
2
iJH �r -n ] �1L 111 FY IJ H lI(, [HL _-R jC
ha= been adopted by the City Council on July 19 , 1988 providing
foi land use, densities and zoning within the District. The
specific plans permit the construction of 1,937 residential units.
Current plans of the Master Developer; on the basis of which the
Special Tax was developed, contemplate 1,822 units. Subdivision
Maps recorded as of the date of this report show a slight deviation
from the number of anticipated units. Including only maps recorded
to date, the authorized number of units is 798 , of which 190
building permits have been approved.
The Master Developer and the City have completed a development
agreement. However, even following the execution and delivery of
a developer agreement, full build-out cannot be assured. Although
the City has approved the Specific Plans with respect to the
District, certain discretionary approvals for development must come
from the City and other governmental agencies; and there can be no
assurance that the Master Developer, or its successors, will secure .
the necessary discretionary approvals to complete the proposed
build out.
In the event that, for whatever reason, the ultimate
i elopment of the land within the District is substantially less
intensive (i.e. , substantially fewer residences are constructed)
than is contemplated and described above, the Special Taxes may be
insufficient to pay principal of and interest on the Bonds because
the maximum Special Tax rates cannot currently be proportionately
increased to compensate for any reduction in the density of
development occurring therein. (Any proposal to change the rate
and method of allocation of the Special Tax so as to permit such an
increase would require qualified elector approval thereof at an
election held with respect thereto) .
It should be noted that a revenue shortfall of the type
described hereinabove is a function of the .rate and method of
apportionment of the Special Tax and the actual level of ultimate
development within the District. Such a shortfall can occur if
there is a substantial reduction in the number of dwelling units
actually constructed without a corresponding voter-approved
modification to the rate and method of allocation of the Special
Tax. If such a shortfall and a resulting default in the payment of
debt service should occur, the default may prove to be irreparable
notwithstanding the willingness and ability of property owners to
f the Special Taxes or the value of the property to which the
Special Taxes are applicable .
Muni Financial Services, Inc. will work with the City in
upcoming years to monitor development as it occurs. We will review
all building permit activity for adherence to the density as used
by the special tax consultant in establishing the special tax
rates.
rr
3
=It{HIJCINL '_PUCE 1 /
I
I1. to RPYiew
A. Debt Service ReCrUirements
� I
According to the Official Statement, or bond offering
statement, the following is the debt service required for the
Bonds.
I
Princi Interest Total
March 1, 1991 0 1, 012, 238.50 1,012 , 238,50
September 1, 1991 0 1,012 ._238 .50 1,012,238.50
Total 0 $2,024 ,477.00 $2,024,477.00
The September 1, 1990 payment will be made from capitalized
interest deposited into the Interest Account from bond proceeds.
The September 1, 1990 debt service payment will be made from
special taxes and other funds collected from the prior year special
tax. Debt service payments made on March 1, 1991 and beyond will
be paid from, revenue collected in subsequent fiscal years though
aprlication of the special tax. After the September 1, 1990
pa_ ant, no capitalized interest remains on deposit.
B. Reserve Fund Deficiency
Because sufficient capitalized interest remains invested, ...
there is no Reserve Fund deficiency.
C. Delinquenciesin Pa nmments
Prior year special taxes on three parcels owned by Mr. Leland
Swanson have not been paid and are delinquent. The delinquent
parcels are as follows:
438-030-004-6
438-040-001-4
438-040-002-5
The total amount of delinquent special tax resulting from the
abo-o delinquencies are $5,753 . 15, or 5.03% of the levy for the
pr. year. Two letters mailed 30 days apart will be prepared by
Mrs and mailed by the City. If no response is received following
sufficient notice, collection will be referred to an attorney.
Because no Reserve Fund deficiency exists at this time, there is no
need to increase the next annual levy to correct the above
delinquencies.
4
D. Administrative Heeds
` The following describes the anticipated administrative
expenses payable during the applicable Debt Service Payment Period.
The actual estimates for these administrative expenses are
contained in Section IV of this report.
1. County .Tax Collection - This expense relates to the
County Tax Collectors fee of 15 cents per parcel plus a flat fee of
$100. 00 to levy and collect the tax installments on the property
tax bill.
2 . Special Tax Report d Administration - This expense
relates to the cast for preparing this Special Tax Report and for
preparing the tax installment information to give to the County Tax
Collector. Checking for delinquencies is included as part of this
scope of work. The estimated casts for these services relate to
the Muni Financial Services, Inc. contract for the 1990/91 fiscal
year. Prior year' s actual costs were slightly less than the
estimated costs. The prior year' s costs of $4,903.00 exceed the
estimated costs of $7 , 000. 00 by $2, 097. 00. This amount is included
as an additional expense to correct for the discrepancy of the
P. it year. Also included is an additional allowance of $1, 500. 00
for expenses to cover printing costs, copy services, etc.
3. Trustee Fees - This expense relates to the tees of
the 'trustee responsibilities associated with bond and fund
Raw administration. The Estimated expense for fiscal year 1990/91 and
the actuals for fiscal year $9-90 was provided by union Sank in
Panorama city. Last year's estimate of $16, 500 was apparently
$l0, 000 higher than actual cost. This amount appears as a credit
to the estimated expenses for fiscal year 90-91.
4. Arbitracre Reb - This expense is
related to the costs of calculating the arbitrage rehare as
required by Federal law. The estimated costs for these services
are based upon the Muni Financial Services, Inc. contract for the
1990/91 fiscal year.
5. Building Permit Monitoring - As building permits are
is—led, the city in conjunction with Muni Financial Services, Inc.
wi need to verify the densities experienced through development
versus the projected densities in preparation of special tax
formulas. In addition, the developed square footage of residential
and commercial development needs to be evaluated to compare
expected revenues to actual revenues. Lastly, the debt capacity of
the vacant land needs to be evaluated periodically to verify the
lien to value ratios predicted by the special tax consultant, also
to ensure that sufficient security exists with the raw land to
5
:z J I F :11 i4 ii
gua, ntee payment of the debt if development were to discontinue or
cease altogether.
6. City Costs - Personnel - The estimated cost includes
the City' s expenses in coordinating the consultants, attorneys,
bankers, investment bankers and other administrative contractors,
as well as administrative services and project management provided
by the City staff in monitoring tax installments, bond proceeds and
related laws.
7 . City Casts - Accountina - This expense includes the
costs of the City's accounting of the bond proceeds, fund
monitoring, and administration of the debt-service requirements, as
well as costs associated with its' outside auditors.
E. Capital Expenditures - The district will be purchasing a
Personal Computer and related hardware and software in the upcoming
fiscal year to compile a building permit data base and aid in the
s ring of data resulting from the CFD administrative process.
F. interest Earnings -- Interest earnings from the various
funds shall be disbursesd as follows:
1. Remaining Capitalized I twat - After adjusting for
information obtained from the Trustee for anticipated interest
earnings, the CFD will have approximately $I, 013,000. 00 to be
applied towards September 1990 debt service payments. The
$420,313 .50 of accumiiiated interest earnings from the capitalized
interest account plus the capitalized interest funded from bond
proceeds will be applied as a credit towards the interest payment
as per the Bond of indenture. We have assumed that the investments
will earn 7 . 91% interest annually.
Z . _Reserve Fund Interest Earnings - As set forth in the
Fiona indenture, the Reserve Fund interest earnings are to
transferred to the Redemption fund to off-set the special Tax
Requirement. The total Reserve Fund interest earnings to be
credited will be $13115U0.00.
3. Escrow Fund In erest - The Escrow Fund was funded
with $10,000,000 from bond proceeds. The monies in the Escrow Fund
are earning 7. 81% interest which should yield $640, 000 to be
applied for debt service,
6
III . Rate and Method of Apportionment of Special—Tax
A. =perty Categories and Maximum annual Tax
Taxable property categories and initial maximum annual taxes
are as follows:
KA.XIMUM ANNUAL TAX
PROPERTY CATEGORY (FISCAL YEAR 1989-901
1 . Residential Unit 'Fax "A": $0.59 per square
foot per year for
developed area
'fax "B": $96.40 per
dwelling unit
2. Commercial and `Pax "A" : $1. 00 per square
industrial foot per year for
developed area
Tax "B" : $0. 05 per square
foot per year for
developed area
'" Residential, commercial and industrial taxes shall he levied
on all property upon the issuance of a building permit in the
fiscal year next following the issuance of the building permit.
3 . Acreage
The following acreage shall be that as shown on any approved
tentative or final parcel map and/or subdivision trap:
A. Apartment unit Not to exceed $7, 500 per acre
per year
B. Any other Not to exceed $6, 500 per acre
residential use per year
C_ Commercial and Not to exceed $7 , 500 per acre
industrial use per year
All other acreage not Not to exceed $7,500 per acre
shown on a map per year
7
'0 1 , - wl1NI 1NHIl i. i.... ESU�:S
B_ Aublication of Tax
First, each year determine the amount of money necessary to ---
pay for all authorized facilities, services and bond obligation.
Second, determine number of taxable residential, commercial
and industrial units where building permits have been issued as of
June 30th of any fiscal year and levy taxes not to exceed the
annual maximum amount allowable.
Third, to the extent necessary to make payments for bond
obligation and/or for authorized services, levy taxes on acreage
land not to exceed the maximum amounts allowable.
C. Escalation of Tax
The above authorized taxes are for fiscal year 1989-90, and
are subject to annual increases as follows:
- Tax "A": (Residential, commercial and industrial) Shall be
annually increased to reflect increases in the Construction
Cost. Index, but not less than 2% per year. Once property is
subject to a building permit, the property and tax rate shall
be subject to the annual increase not to exceed 2% per year.
At the time of publication for this report, the Construction
Cost Index for 1990 was not available. An assumed rate of 5%
was used for fiscal year 90-91 calculations. If actual rates -�
differ from the 5% factor adjustments will be made in the next
fiscal year computations to correct for the difference.
- Tax "S": (Residential , commercial and industrial) Shall be
annually increased to reflect increases in the Consumer Price
Index. The Consumer Price Index through April 1990 was 5.0% .
To correct for a 12-month period this factor was adjusted to
5 .88%. If actual indices do not agree with these assumptions
adjustments will be made in fiscal year 90-91.
As required by the special tax formula the base tax rates are
adjusted annually to kept pace with the Construction Cost
index and the Consumer Price Index_ As required, these
factors are adjusted annually based on indicators published
on June 30 of each year_ To facilitate preparation of a
special tax report and the timing of approvals with the
public agency, indexes for a partial year up to April 3o have
been extrapolated to June 30. In each succeeding year the
actual numbers will be verified and the appropriate debits or
credits will be applied to the respective accounts.
The Category III Acreage Tax shall be annually increased to reflect
increases in the Construction Cost Index.
B "r
JFI" Fi11 F 11F I.'>
�. xerm
The Final Land Use Tax "A" for residential, commercial and
industrial taxes, shall be levied for a period of 25 years from its
initial levy.
The Final Land Use Residential Tax "B" shall be levied as long
as necessary to pay For additional services.
The Acreage Tax shall be levied as long as necessary to make
payment for services and payment on bond obligations.
E. Definitions
The "Construction Cost Index" shall be the Construction Cost
Index for the City of Los Angeles, as adjusted annually, based upon
available data as of June 30th of each year, as set forth in the
Engineering News-Record ,ENR), McGraw-Hill Construction Weekly.
The "Consumer Price Index" shall be the Los Angeles/Riverside
Ai - All Urban Consumer Price Tndex, published by the United
States Bureau of Labor Statistics, as said data is available June
30th of each fiscal year.
"Developed Area" shall be. all land as measured from outside
walls, excluding garage, covered ways and overhangs, patios and
additions.
"Fiscal Year" shall be July I through 3une 30.
F. ,Sped T2x Prepayment_ Formula
As of the time of writing this Report, the District has not
received any payoffs of the special tax liens. The obligation to
pay the special taxes designated herein may be prepaid and
permanently satisfied as followed:
1 . PROPERTIES SUBJECT TO SPECIAL TAX "A" .
This special tax obligation may be prepaid by payment to
the District of the present value of the maximum Special
'Pax "A" applicable to the parcel for which the tax is to
be prepaid for a term of 25 years. The present value
Shall be calculated using an 8% discount rate.
2. PROPERTY ACQUIRED BY A PUBLIC AGENCY.
A prepayment for property acquired by a public agency
shall be calculated utilizing the Acreage Rate. The
9
FIN:.11 l�IPL ':F',11[_,
prepayment amount shall equal the present value of the
maximtm Acreage Rate for the applicable property for a
period of 25 years, utilizing the 81 discount factor. Art
exception to the use of the Acreage Rate is created for
a designated school site, the prepayment of which shall
be calculated based upon the application of Special Tax
"A" and assuming 4 .5 dwelling units per acre.
�v_ ComputgtLQp_of the Special Tax Reguirelpent
Preparation of the special tax levy requires interpretation
and application of the special tax formula.
Difficulties presented by application of the special tax
formula includes the following:
1. Some building permits issued for subdivided lots prior to
the end of this fiscal year 69-90 (10-30-1990) were recorded
recently enough to preclude the assignment of an appropriate
APN number by the County Assessor's Office.
PROBLEM: Determine a parcel tax for developed property with
no APN to levy the tax.
SOLUTION: Aggregate all special tax resulting from the
developed property within a given "mother parcel" as though
all buildings were constructed as one with the original parcel "
(mother parcel) .
2 . subdivision of land into the plannrd densities and lot
sizes results in land being subdivided without an appropriate
method of establishing the parcel size in acres with lots much
less than one acre in size. Computation of the resulting tax
III for undeveloped parcels is difficult to apply without all
acreage being known or easily identified.
PROBLEM: Apply a tax III at the prescribed acreage rate to
parcels without known area.
SOLUTION: Prorate the remaining undeveloped area within a
,division boundary at the prescribed acreage rate according to
t..e ratio of unoccupied subdivided lots to total number of lots
applied to the gross acreage for the subdivision boundary. The
resulting Levy of subdivided property, but undeveloped, is
distributed equally to all the parcels at the gross acreage rate
without consideration to individual parcel sizes. In subsequent
years this anomaly will be corrected by the use of developed square
feet as a basis of taxing as per the tax formula.
10
_ L•+ �L 11 U 11I FI11�11_'I RL ': :I-I.<.
Pursuant to the Bond Indenture, the following is the
low eomr..tation for the 1990/91 Special Tax Requirement for the
Project;
w.•
11
TABLE 3
CnMPRUTATION OF SPECIAL TAX LEVY
PRIOR TEAR ACTUALS ANOUNT(FY 90191
ESTIMATED OR
DESCRIPTION (FT 69190) (FY SMIO) (CREDIT)
TAX A
ANNUAL DEBT SERVICE(BOND YEAR 1991) $2,024,447.00
RESERVE FUND RLPLENISHMENT SO.CO
ADMIRISTRATIVE EXPENSES
COUNTY TAX COLLfCTtON S168,10
SPECIAL TAX REPORT & ADMIN. 57,000.00 S4,903.00 (f2,097.00)
SPECIAL TAX REPORT & ADMIN. S14,310.00
BUILDING PERMITS MCIIFITOR 510,060.00
EXPENSES ST,500.00
RARV FEES(FY 89190) S16,500.00 $6,500.DO ($16,000.00)
BAIT[ FEES f5,003_00
ARBITRAGE REBATE REPORT S2,OW-DC
CITY COSTS
ACCMNTING f5,000.00
PERSONNEL S15,000.00
FAPITAL EXPENDITURES S4,000.00
TOTAL CROSS REQUIREMENT S2,069,328.10
LESS.
ACOJPULATED INTEREST EARNINGS
RESERVE FUND 5124,960.00
ESCROW FUND S781,000.00
BOND SERV FUND Y28,000.00
CAPITALIZED INTEREST V-00
TOTAL CORTRIDUTIONS LESS 10.00% 5840,564.00
NET REWtRMENT $1,22B,764-10
"OTAL NET REQUIREMENT TAX (AAc) S1.228,764.10
.rr
-,� BASE TAX
TAX B RES cow
O.U.'S S.F. CLMILATIVE CPT
S96.40 $0.05 (6/30/89W30/90)
5.88%
RESIDENTIAL BUILDING PERMITS 190 V 9,392.98
COIERGIAL PERMITS(ACERAC£) NONE U.00
TOTAL NET TAX B 1:19,392,98
SPECIAL TAX 00NN lTATIONS
TOTAL REOUIRMENT TAX A L C $1,228,764.10
ESTINATEO TAx REVENUE AT MAX TAX 11203,347.02
REQUIRED VACANT TAX C S1,025,417.08
INr ESTIMATEP REVENUE 3 36,50% S1,026,433.29
'LRI -5 i'u III r" SPIN I-0L IWL -Fig[':
V. -pecigl Tax 5nread (Tax Rolls -
The Special Tax, totaling $1,228,764. 10, will be levied on all
of the parcels within the District. A special Tax, totaling
$19 , 392. 98 will be levied on all undeveloped property. The
fallowing tax roll reflects a total combined Tax A & B.
I
f
13 �.
7L V: -�i - 4-1 'SLIi1 FSNN!!f �I,.
W' 'IF SAN JACINTO CFO 0- 2 04-Ju1-90
SPECIAL TAX ROLL FY 9C791 CFO WO. 2
BK PC PAR TAX A TAX M 1" B TOTAL TAX
433 341 1 WL34 5487.34
433 341 2 1487.34 $467.34
433 341 3 $481.74 $487.34
433 341 L S467.34 5687.34
433 3L1 5 5487.34 1487.34
433 341 5 i487.34 s4S7-
433 341 7 1487_34 W7.34
433 341 8 5487.34 $487.34
433 341 9 S481.34 1487,34
433 343 10 1487.34 S487.34
433 341 11 1487.34 5487.3!
433 341 12 S487.34 1487.34
433 341 13 5487.34 5487.34
433 341 14 $487.34 S4B7.34
433 341 15 $447.34 $487.34
433 341 16 148T.34 U87.34
433 341 17 $467.34 S487.34
413 341 16 S487.34 $487.34
433 341 19 1487.34 %487.34
433 341 20 S487.34 S487.34
WO" 433 341 211 1,487.34 $497,44
433 34t 22 5487.34 5487.S4
433 341 23 S487.34 %W.34
433 341 24 5487.34 $487.34
433 341 25 S487.34 1487.34
433 341 26 $487.34 5487.54
433 341 27 $457.34 $487.34
433 341 25 "87.34 1487.34
433 341 29 "8 -34 $487.34
433 341 30 $487.34 1487.34
433 341 31 1487.34 $487.34
433 541 32 5487.34 $487.34
433 341 33 S487.34 5487.34
433 341 34 5487.34 $487.34
433 341 35 $487.34 $487.34
433 342 1 1487.34 S487.34
433 542 2 S487.34 $487.34
433 34Z 3 SL87.34 1L87.34
433 342 4 5487.34 5487.34
433 342 5 U87.34 U87.34
433 342 6 14II7.34 $487.34
433 342 7 $467,34 1487.34
433 342 S S487.34 S-487.34
433 342 9 U67.34 $487.34
433 342 10 s487.34 U$7.34
433 342 11 5487,34 WT-34
MUNI FINANC[AL SERVICES, 14C. PACE I
IUL MUr:i 071
IY OF SAN JACINTO CFD 40. 2 02-Jul-90
SPECIAL TAX ROLL FY 90191 CFD UO. Z
BK P6 PAP 'AA A TAX III TAX 8 TOTAL TAX
433 342 12 1;487.34 5487.34
433 342 13 5487.34 $487,34
433 342 14 5487.34 S487.34
433 34Z 15 S487.34 $487.34
433 342 16 i487..34 $487,34
433 342 17 s487.34 5487.34
433 342 18 $487.34 "87.34
433 342 19 $487.34 $4a7,34
433 342 20 4487.34 5487.34
433 342 21 5487.34 $487.34
433 342 22 "87.34 5487.34
433 342 23 5487.34 S487.34
433 342 24 W7.34 S487.34
433 342 25 U87.34 $497.34
433 342 26 SL87.34 5487.34
433 .542 27 $487.34 $487.34
433 342 28 $487.34 S487.34
433 342 29 $487.34 $487,34
433 342 30 $487.34 5487.34
433 342 31 5417.34 3487.34
433 342 32 5487.34 $487.34
433 54Z 33 $487.34 %87.34
433 342 34 548734 3487.34
433 342 35 S487.34 S487.34
433 342 36 9487.34 W7.34
433 342 37 S487.34 L487.34
433 342 38 5487.34 $487.34
433 342 39 $487.34 5487.34
433 342 46 S487.34 S487-34
433 343 1 3487.34 W7.34
433 343 2 5487.34 3487.34
433 343 3 $487.34 $487.34
433 343 4 $447.34 S487.34
433 343 5 $487.34 5487.34
433 343 6 548T.34 W17.34
433 343 7 5487.34 $487-34
433 343 8 5487.34 $487.34
433 343 9 5487.34 4487,34
433 343 10 l487-34 U87-34
433 351 1 $497.34 UA7.34
433 351 2 5487.34 U87.34
433 351 3 S487.34 $487-34
433 351 4 UBT_34 $467.34
433 351 5 5487.34 $487.34
433 351 6 S487.34 $487.34
433 351 7 $487.34 S487.34
Ni1Nl FINANCIAS SERVICES, INC. PACE 2
-IJL 0_ 5: a5 M U H I F !NRMCIFL 'RV[c, - . y4
.M OF SAN JACINTO CFO 40. 2 02-Ju1.9O
,ROW SPECIAL TAX ROLL FT 90191 CFD 90. 2
SK P6 PAR TAX A TAX Ili TAX s TOTAL TAX
433 351 8 S487.34 t487.34
433 351 9 $487.34 "47.34
433 351 1a t687.34 5487,34
433 351 11 SW.34 u.87.34
433 351 12 $487.34 5487.34
433 351 13 5487.34 $487.34
433 351 14 $497-34 $487.34
433 351 15 $487.34 3487.34
433 351 16 U87.34 5487.34
433 351 17 f487.34 $487.34
433 351 18 S487.34 5487.34
433 351 19 S497.34 t487.34
433 352 1 S4u.34 t487.34
433 352 2 $487.34 1497.34
433 352 3 5487.34 V.87.34
433 352 4 S487.34 VW.34
433 352 5 5487.34 5487.34
433 352 6 s487.34 "7.34
433 352 7 5487.34 5487.34
433 352 8 S4117.34 $487.34
433 352 9 9487.34 $487.34
433 353 1 $487.34 5487.34
433 353 2 5487.34 5487.34
433 353 3 5487.34 5487.34
433 353 4 5487.34 5487.34
433 353 5 $487.34 S487.34
433 353 6 5487.34 t487.34
433 353 7 s487.34 S487-34
433 353 $ 5487.34 t487.34
433 353 9 S487.34 5487.34
433 353 10 $437.34 $487.34
433 353 12 $487.34 $487.34
433 353 13 $487.34 $487.34
433 3S4 1 S487,34 $487.34
433 354 2 S487.34 5487.34
433 354 3 $487.34 $487.34
433 354 4 $487.34 $481-34
433 354 5 5487.34 5487.34
433 354 6 $487.34 $W.34
433 3S4 7 5487.34 5487.34
433 354 9 S487.34 $487.34
433 354 9 $487.34 $487.34
433 354 10 U87.34 S487.34
433 354 11 $487.34 t487.34
433 354 12 5487,34 5487.34
433 354 13 5487.34 S487.34
UNI FINANCIAL SERVICES, INC. PAGE 3
4r. rill{I = 11IH NCIHL - - -
,TY OF 5AN JACINTO CFO MO. 2 02-jut•90
5?ECIAL TAX ROLL FY 90/91 Cf0 W� 2
U PG PAR TAX A TAX III TAX B TOTAL TAX
433 354 14 6L87.34 5487.34
433 354 15 SL87.34 $487,34
433 354 16 $487.34 5487.34
433 354 17 1L87.34 V87.34
433 354 18 5487.34 5487.34
433 354 19 $1.81-34 L4.87.34
433 354 20 $487,34 W7.34
433 354 21 K87.34 U.87.34
433 354 22 SL87.34 1487.34
433 361 1 9599.91 $589.81
433 361 2 S589.81 5589.81
433 361 3 1589.81 SS89.81
433 1.61 Y. 5589.81 S589.81
433 341 5 S589.81 SW.81
433 361 6 $539.61 S589.81
433 361 7 1589.81 $589.61
433 361 6 1589.81 $589.81
433 361 9 $589.81 $589.61
433 361 10 $589.81 S589.81
433 361 11 S589.81 $589.81
433 361 12 558V.81 1589.81
433 361 13 S589.81 $589.81
�.r
433 361 14 $589.61 SS89.81
433 361 15 $589-81 5589.51
433 361 16 S589.81 5589.81
433 361 17 S589.81 $589.81
433 361 18 s589,81 $589.81
433 361 19 $589.81 1589.81
433 361 70 S589.81 3589.61
433 362 1 15M SI 1589.81
433 362 2 $589.81 $599.91
433 362 3 S589.81 5589.81
L3.3 362 4 5589.81 5589.81
433 362 5 $589.81 1589.81
433 362 6 S589.81 $589.81
433 362 7 1589.81 S589.81
433 3.62 9 $589.81 $589.81
433 362 9 s589.81 S589.81
433 TA2 10 s589.81 5589.81
433 362 11 S589.A1 $589.81
433 362 12 S589.81 1589.81
433 362 13 s589.81 $569.81
433 362 14 1559.81 $589.81
433 362 i5 $589.31 s589.81
433 Ua 16 S589.81 S589.81
433 362 17 $539.81 s589.e1
14UMT FINANCIAL SERVICFS, INC. PAGE 4
"JL 7G ?9 :o ' Jki PDIN[If IFL C
TT OF SAN JACINTO CPD NO. 2 92-Jut-90
.� SPECIAL TAX ROLL FY 90/91 CFO NO. 2
SK PC PAR TAX A TAX m TAX 8 TOTAL TAX
433 362 18 5589.81 $589.81
433 362 19 5589.81 S589.81
433 362 20 $589.91 $589.81
433 362 21 S589.81 s589,81
433 362 22 5589.81 $589.91
433 362 23 5589.81 5589.81
433 362 24 5589.81 $589.81
433 -W 25 $589.81 5589.81
443 $62 26 $589.81 5589.81
433 362 27 5589.81 SS99.81
433 362 28 1589.81 $589.91
433 362 29 5589.81 $589-81
433 362 30 5589.131 5589.81
433 %2 31 $589.81 S589.81
433 362 32 5589.81 15".81
433 362 33 8589.81 SSW.al
433 362 34 5589.81 $589.81
433 362 35 5589.81 5589.81
433 362 36 $589.81 1589.81
433 362 37 5589.81 $589.81
433 362 38 $589.81 $589-81
433 362 39 5589.81 s589.81
433 362 40 SS89.81 $589.81
433 362 41 $589.81 $589.81
433 362 62 $589.81 $589.81
433 362 43 $589.61 $589.61
433 362 " $589.81 9589.81
433 362 45 5589.$1 5589.87
433 W 46 55$9.$1 5589.81
433 362 47 s584.81 1589.81
433 371 1 5558.18 5558.18
433 371 2 $558.18 5558.18
[33 371 3 S558.13 5558.15
4,33 371 4 5558.16 $558.18
433 371 5 5558.18 $558.18
433 371 6 $558.18 5558.18
433 371 7 $558.1a $558.18
433 371 8 1558.18 $558.18
433 371 9 5558.18 $M.18
433 371 10 $558.18 3558.18
433 371 11 5558.18 $558.16
433 371 12 S558.18 5558,18
433 371 13 5558.18 $558.13
433 371 14 $558.18 $558.18
433 371 15 3558.18 5558118
433 371 16 $558.18 5558.18
err
VNI FINANCIAL SERVICES, INC. PACE 5
TY OF SAN JACSNTO CFO N0. 2 02-yui-90
SPECIAL TAN ROLL FY 90791 CFO NO. 2
61( PG PAR TA1( A TAX III TAX B TOTAL TAN
433 371 17 $558.18 $558.18
433 371 18 4558.18 $558.18
433 371 19 s558.18 $558.18
433 371 20 1558.18 $558.18
433 371 21 $558.18 $558.18
433 371 22 5558.18 5558.18
433 371 23 S558.18 $558.18
433 371 24 $558.18 $558.18
433 371 25 $558.18 $558.18
433 371 26 1558.18 $558.18
433 371 27 5558.18 $558.18
433 371 28 3558.18 $558.18
433 371 29 55W IS 5558.18
433 371 30 5558.18 s558.18
433 371 31 1558.18 $558.18
433 371 32 5558.18 1559.18
433 371 33 1558.18 $558.18
433 371 34 $558.18 s558.18
433 371 35 $558.12 155A.1A
433 371 36 s558.18 s558.18
433 371 37 5558.18 5558.18
433 371 38 5558.18 155S.18
433 371 39 $556.18 $558.18 w
433 371 40 t558.18 1558.19
433 371 41 $556.18 $558.18
433 371 42 $558.18 t558.18
433 371 43 $558.18 t558.18
433 371 44 S558.18 $558.18
433 371 45 5556.18 $553-18
433 371 46 $558,18 $558.18
433 372 1 5558.18 5558.18
433 372 2 $558.18 i558.18
433 372 3 $558.18 1558.18
433 372 4 s558.18 5558.18
433 372 5 $558.18 s558.18
433 372 6 5558.18 S558.18
433 372 7 s558.18 5558.18
433 372 8 3558.18 $558.18
433 373 1 9558.19 $558.18
433 373 2 5558.18 $558.18
433 373 3 1558.18 S558.18
433 373 4 5558.1B 1558,18
433 373 5 $558.18 $558.18
433 373 5 $558.18 5558.18
433 373 7 5558.18 $558.18
4n 373 8 $558.18 5558.18
-ILA] FINANCIAL SERVICES, IRC. PACE 6
Tij 0 1 ri 4: r-1UF{I F?FG1VL1PL FF..UC P.._
TY OF SAW JACINTO CFO NO. 2 02-Ju1-90
SPECIAL TAX ROLL FT 90191 CFD NO. 2
SK PG PAIL TAX A IAX III TAX 8 TdTAL TAX
433 373 9 $558.18 S558.1a
433 373 10 s558.18 5558-18
433 373 11 $558.18 S558.18
437 3i0 29 538,877.01 538,877.01
437 310 30 243,115.96 si5,780.In 14,388.94 s63,285.00
438 20 6 $27,121.97 571,968.19 S2,551.71 5101,641.82
43A 30 12 S45,891.59 S45,891,59
438 40 3 548,396.28 t48,396.28
438 40 6 f23,891.50 $23,891.50
438 40 7 S49,574.86 S49,574.86
438 50 2 $115,223.15 $115,223.15
438 50 14 $300,652-46 $300,652.46
438 391 1 s504.07 1504.07
439 391 2 $504.07 $504,01
438 391 3 $504.07 %504.07
439 391 4 $504.07 $504.07
438 391 5 S863.A 1102,01 S965.65
438 7,91 6 S987.55 S102.07 $1,089.62
438 391 7 $1,420.85 $102-07 $1,522.92
438 391 8 $1,420.85 1102.07 11,522.92
438 391 9 S1,195.78 S102.07 11,297.84
•ram. 438 391 10 5863.58 $102.07 $965.65
438 391 11 S1,195.78 $102.07 S1,297,84
AM 391 12 s863.56 S102.07 5965.65
438 391 13 $987.55 S102.07 S1,089.62
438 391 14 11.195,78 5102.07 $1,297.94
438 391 15 sS63.5$ S102.07 S965.65
438 391 16 51,420.85 $102.07 11,522.92
438 391 17 5504.07 5504.07
433 391 18 $504.07 $504.07
438 391 19 3504.07 SSO4.07
438 391 20 $504.07 $504.07
438 391 21 $504.07 5504.07
438 391 22 S504.07 S504.07
438 391 23 S504.07 $504.07
438 391 24 5504.07 $504.07
438 392 1 $987.55 5102.07 ti,089.62
438 392 2 5863.58 S102.07 s965.65
438 392 3 S1,195.78 5102.07 51,297-R4
438 392 4 111,4Z0,85 $102.07 SI,52z.92
438 392 5 $987.55 S102.97 S1,089.62
438 392 6 S1,420.85 5102.07 51,522.92
438 392 7 $987.55 $102.07 S1,089.62
438 392 8 S1,195.78 1102.07 $1,297.84
438 392 9 S987.5$ 1.102-07 S1,089.62
438 392 10 t863S8 $102.0' s965.65
"I FINANCIAL SERVICES, INC. PAGE 7
, 43 f1L1!II F1r!arlu :PL -RU C'3
CF SAN JACINTO CFD NO. 2 C2 ]ui 90
SPECIAL TAX ROLL FT 9C/91 CFO NO. 2 ter•
6K PG PAR TAX A TAX III TAX 6 TOTAL TAX
438 392 11 5987.55 S102_07 st,da9.62
438 392 12 $1.420.85 S102.07 $1,522.92
438 392 13 $1,195.78 s102.07 s1.297.84
438 192 14 $1,420.85 $102.07 $115ZZ_92
438 393 $1,420.95 S102,07 $1,522.92
438 393 2 $1,195.78 $102.07 51,297.84
438 393 3 S863.58 S10L07 S90.65
438 393 4 W87.55 it02.07 S1,089.62
438 393 5 $1,195.78 $102,07 S1,297.84
438 393 6 $987.55 2102.07 $1,089.62
438 393 7 S1,195.78 S10Z_07 51,297.84
438 393 8 1981.55 $1132.07 $1,069.622
438 393 9 S1,420.85 SOLO S1,522.92
438 393 10 $1,195.79 S102.07 $1,297.84
438 393 11 5863.58 $132.07 9965.65
438 393 12 S504.07 $504.07
438 393 13 $504.07 5504.07
438 393 14 S863.58 S102.07 S965.65
438 393 15 S987.55 5102.77 51,089.62
438 393 16 $1,m.78 s102.07 s1,297.84
438 393 17 S1,420.85 9102.07 51,527.92
438 393 18 S504.OT $504.07
438 393 19 $504.07 $504.07
438 393 20 $504.07 5504.07
438 393 21 S504.07 SSN.07
438 401 1 5504.07 S504.07
438 401 2 $504.07 S504.07
438 401 3 9504,07 1504.07
438 401 4 $504.07 S504.07
438 401 5 1504.07 5504.07
438 "1 6 $504.07 5504.07
438 401 7 5504.07 $504.07
438 401 8 1504.07 S504,07
436 401 9 $504.07 S504.07
438 401 10 5504.07 5504.07
438 401 11 5504.07 5504.07
438 401 12 $504,07 5504.07
438 401 13 5504.07 $504.07
4U 401 14 S504.07 $504,07
438 401 15 5504.01 5504.07
438 401 16 1504.07 S504.07
438 401 17 S504,07 SSO4.07
438 401 18 $504.07 $504.07
438 401 19 5504.07 5504.OT
438 401 20 S504,07 S504.07
438 401 21 $504.07 S504.07
JN1 FINANCIAL SERVICES, INC. PAGE 8
'uL -` - - rru 111 F11l a rir! : L =a Gr�
rf OF SAX JACINTO CFO NO. 2 02 Ju[•90
SPECIAL TAX ROLL FY 90/91 CFO NO. 2
SK PG PAR TAX A TAX III TAX 6 TCfAL TAX
438 401 22 55(14.07 %504.07
438 401 23 $504.07 5504.07
438 401 24 S504.07 %504,07
438 401 25 $504.07 sSO4.07
438 401 26 W5 4.07 s504.O7
433 401 27 S504.07 S504.07
438 401 25 $504.07 $504.07
438 401 29 $504.07 S504.07
438 401 30 5504.07 2504.07
438 401 31 $504.07 i504.07
433 402 1 S504.CT $504.07
438 402 2 S504.07 S504.07
438 4C2 3 $504.07 S504.07
4,38 402 4 $863.54 1102.C7 5965.65
438 4OZ 5 $1,420.85 $102.07 S1,522.92
438 402 6 %W.58 1102.07 $%5.65
4,38 402 7 111195.78 $102.07 11,297.64
438 402 8 $1,420.65 S1112.07 S1,SZZ.92
439 402 9 s987.55 5102.07 S1,089,62
438 402 10 5863.59 S19z.07 5965.65
4U 402 11 S1,195.78 5102.C7 S1,297.84
438 402 12 11,420.65 $102.07 11,522.92
438 402 13 $987.55 $102.07 $1,0",62
433 402 14 $1.195,76 S102.07 51,297.84
438 402 15 11,420.55 SICZ.07 $1,522.92
438 402 16 1997.55 $102.07 I1,089.62
438 402 17 $504.07 5504.07
438 402 18 5504,07 $504.07
438 402 19 S504.07 5504.07
438 4oz 20 $504.07 1504,07
438 402 21 s504.07 5504.07
438 402 22 5504.07 5504.07
438 402 23 S504.61 S504.07
438 402 24 $504.07 1504.07
438 402 25 5504.07 5504.07
435 402 26 S504.07 S504.07
438 4,02 27 5504.07 $W.07
438 402 28 1504.07 1504.07
438 403 1 S863.58 S102.07 1%5.65
419 4.03 2 S1,420.85 $102.07 141,522.92
438 403 3 i987.55 s102.07 $1.089.42
438 403 4 51,420.05 S102.07 $1,522.92
438 403 5 5863.58 1102.07 S965.65
430 403 6 S1,195.78 s102.07 S1297.84
438 403 7 S1,420.85 $102.07 $1,522.92
439 403 8 1987.55 S102.07 51,089.62
)UNI FINANCIAL SERVICES, INC. PAGE 9
:IIL - ?9 ;5: a9 'it1NI F1 rt4 rIr IRL
OF SAN JACINTO CFO NO. 2 02-Jui-90
SPECIAL TAX ROLL FT 90791 CTD NO. 2
8C PG PAR iAX A TAX III TAX 5 TOTAL TAX
438 403 9 $863.56 1102.07 S965,6s
438 403 10 51,420.85 1102.07 11,522.92
438 403 11 19$7.55 5102.07 S1,089.62
438 403 12 1863.58 $102.07 S965.65
438 433 13 $1,420-95 $102.07 11,522-02
438 403 14 $1.195.78 5102.07 91,207.84
438 403 15 $987.55 $102.07 S1,O89.62
439 603 16 SM3-58 $102.07 1%5-65 .
438 403 17 $1,420.85 $102,07 $1,522.92
438 403 18 $1,195.78 $102.07 S1,297.84
439 403 19 S967.55 $102.07 91.089.62
438 403 20 1863.58 S102.07 1965.65
438 404 1 S504.07 $504.07'
4" 404 2 5504.07 S504.07
438 404 3 $504.07 $504.07
438 404 4 $504.07 1504.07
438 404 5 1504.07 S504.0T
438 404 6 $987.55 1102.07 51.089.62
438 404 7 $1,195.78 s102.07 11,297.$4
438 404 $ 4987.55 $102.07 $1,089.62
438 404 9 S1,420.85 5102.07 $1,522.92
438 404 10 $1,195.75 $102.07 51,297.84
438 404 11 $1,420.85 $102.07 S1,522.92
438 404 12 $1,195.75 $102.07 51,297.84
438 404 13 51,195.78 S102.07 $1,297,84
438 404 14 $1.420.85 5102.07 $1,522.92
1.38 404 15 $863.58 9102.07 S%5.65
438 404 16 $987,55 s102.07 s1,089.62
438 404 17 11,195-78 $102.07 11,297.84
438 404 18 $1,420.65 $102.07 $1,522.92
438 404 19 S$63.58 $102.07 5965.65
438 404 20 $987.55 9102.07 51,089.62
438 404 21 $987.55 S102.07 $1.089,62
438 404 22 $1,195.78 $102.07 St,297.84
439 150 15 $31,490.91 $31,490.91
439 180 16 s30,307.85 S39,813.87 s3,164.12 S73,285.83
439 190 14 $50,101.04 S50,101.04
551 20 20 13,n27.32 0,027-32
551 20 21 s8,735.33 18,735.33
TOTALS 4s3 s203,121.94 $1,025,642.16 919,392.96 $1,248,157.08
.r