City Administrative Officer report relative to the Senate Bill 165 annual reporting requirements for Fiscal Year 2024-25 Communities Facilities District No. 11 (Ponte Vista) Special Tax Bonds, Series 2021.

Summary

This report from the City Administrative Officer addresses the annual reporting requirements for Fiscal Year 2024-25 for Community Facilities District No. 11 (Ponte Vista) Special Tax Bonds, Series 2021, as mandated by Senate Bill 165 (SB 165). The District issued $22,410,000 in Special Tax Bonds in October 2021 to fund public facilities including sewer, storm drains, electrical, street improvements, and Los Angeles Unified School District facilities. The report details the amount of funds collected and expended, and the status of projects funded by the bonds. It confirms that all costs are paid by the District via the special tax and there is no impact to the General Fund. The report is for informational purposes, and no further action is required by the City Council.

Citizen Impact

This is an informational report on the financial status of bonds used to fund public improvements in the Ponte Vista community. Residents are not directly impacted as the report confirms no General Fund impact and all costs are covered by the special tax levied on the district.

Confidence

high