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Temecula public financing authority approves up to $16.45 million in special-tax bonds for Prado project
Summary
The Temecula Public Financing Authority authorized the issuance of up to $16.45 million in tax-exempt special-tax bonds (30-year term) for infrastructure in the Prado residential development; the authorization is part of a not-to-exceed $20 million bond authorization for the community facilities district.
The Temecula Public Financing Authority on Sept. 23 approved documents needed to issue special-tax bonds to finance infrastructure for the Prado residential project (Community Facilities District 23‑02 Prado).
Financial adviser Jim Fabian summarized the sale plan and recommended documents, saying the city authorized up to $20 million of bonds for the CFD but would issue roughly $16.45 million based on current market assumptions. The bonds are tax‑exempt special-tax obligations…
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