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Council approves up to $12 million in special-tax bonds for Folsom Ranch Improvement Area 7
Summary
Council approved resolutions authorizing issuance of up to $12 million in special-tax revenue bonds for Community Facilities District (CFD) No. 23, Improvement Area 7 to finance public improvements.
The Folsom City Council on March 25 approved two resolutions authorizing the form and issuance of special‑tax revenue bonds for Community Facilities District No. 23, Improvement Area 7, allowing the Folsom Ranch financing authority to move forward with a bond sale not to exceed $12 million.
Stacy Timani, Chief Financial Officer, told the council the improvement area (CFD 23, Improvement Area 7) was approved in December 2021 and covers infrastructure improvements including…
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