Page 17 - Moreno Valley City 2022 Bonded Debt Summary

2007 towngate
IMPROVEMENT AREA 1 TAX

REFUNDING BONDS

description
CFD 87-1 Improvement Area No. 1 Special Tax Refunding Bonds were issued the community facilities district No. 5 of the
in November 2007 to refund the 1993 Towngate CFD 87-1 Improvement
Area 1 Special Tax Bonds. CITY OF MORENO VALLEY 2021
SPECIAL TAX REFUNDING BONDS

Original Issue Amount reimbursable tax increment from the Agency to a maximum description
$4,075,000 of 70.3% of required debt service. Tax increment payable The new CFD 5 Special Tax Bonds were issued in December 2021 to refund
from the Redevelopment Property Tax Trust Fund (RPTTF) is the remaining balance of the 2007 CFD 5 Special Tax Bonds. The bonds
Issuance Date subject to approval on the Recognized Obligation Payment funded the construction of various public improvements needed to develop
11/29/2007 Schedule (ROPS) by the California Department of Finance. property located within the CFD 5. (For a map of the district, please refer to
the Investor Relations webpage on the City’s website).
Repayment Sources Maturity Date
The bonds are payable from a special tax levy against certain 10/01/2023
affected parcels within the District. Under an arrangement (a Original Issue Amount
Cooperation and Reimbursement Agreement) involving the Outstanding Balance $5,870,000
District, the City and the Successor Agency of the former at June 30, 2022: $675,000.
RDA, the required tax levy may be reduced in part by a Issuance Date
12/21/2021
Repayment Sources

Special Taxes levied on the affected parcels within the district.
2016 community facilities district 7 Maturity Date
09/01/2037
IMPROVEMENT AREA 1 Outstanding Balance
(CFD 7 IA 1) at June 30, 2022: $4,795,000.

description
The CFD 7 IA-1 bonds funded the construction of flood-control
improvements needed to develop property located within the CFD 7. (For
a map of the district, please refer to the Investor Relations webpage on the
City’s website).

Original Issue Amount
$3,265,000
Issuance Date

09/15/2016
Repayment Sources
Special Taxes levied on the effected parcels within the district.
Maturity Date
09/01/2047
Outstanding Balance

at June 30, 2022: $2,960,000.