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Palm Springs Unified moves toward selling bonds for Community Facilities District No. 1; board to consider issuance July 8
Summary
District municipal adviser reported the Community Facilities District (CFD) formed years ago has met development thresholds and is expected to sell bonds; trustees pressed staff on how proceeds will be used and the item is scheduled for a July 8 vote to authorize issuance.
The Palm Springs Unified School District is preparing to sell bonds backed by Community Facilities District No. 1 after municipal advisers reported enough development activity in the district to support a bond sale, a presentation to the board said on June 24.
Adam Bauer, the district’s municipal adviser, told trustees the CFD — formed in February several years ago but held until development reached a viable stage — now includes 141 lots and a mix of ownership that the market prefers: a national builder (D.R. Horton) has purchased a block of lots and Williams Homes has developed a portion, with other lots already owned by individual homeowners. "This CFD could be a total of…
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