The Roseville City Council on Aug. 6 approved a resolution authorizing the issuance of special-tax bonds for the Villages at Sierra Vista Community Facilities District No. 1 (CFD No. 1), authorizing a 2025 bond series with aggregate principal not to exceed $6,700,000. The motion passed on a roll call vote with Vice Mayor Albert, Council Member Mendonza, Council Member Ricucci and Mayor Berlusconi voting yes; Council Member Howell DeShelter was excused.

City Finance Director Scott Pettingill and Management Analyst Janine Thrash presented the item and described the district's purpose: to provide land-secured financing for authorized public facilities and services. Pettingill said the district was formed in May 2018 and has previously issued five series of bonds. He reported the current outstanding par amount is about $39,400,000 and the district's maximum authorized indebtedness is $310,000,000.

Pettingill said the proposed 2025 issuance would be the sixth series for the district and would fund transportation improvements (including Earl Russ Drive, Margaret Street, Fittingette Road, Santucci Boulevard and Nicole G Drive), utility infrastructure, and park and open space improvements within the CFD boundaries and recent annexations. Staff recommended that the council approve resolution number 25 2 68, authorize the issuance and approve related documents including a preliminary official statement and bond purchase agreement.

No members of the public spoke on the item. After the presentation, the council moved to approve the resolution. The clerk recorded the roll call vote in favor and the motion passed. The resolution authorizes staff to proceed with marketing the bonds under the terms described in the preliminary official statement and related sale documents.