Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Successor agency says 2009 tax-allocation bond must be prioritized; board accepts reporting schedule
Summary
An agency staff member told the Paradise Redevelopment Agency Successor Agency that the 2009 tax-allocation bond is in default and must be paid in full before any 2016 bond allocation; the board voted to accept the reporting schedule that lists $336,000 for 2009 and $77,868 for 2016.
An agency staff member told the Paradise Redevelopment Agency Successor Agency on a routine meeting that both the 2009 and 2016 tax-allocation bonds are in default and that the 2009 bond must be paid in full before any funds can be allocated to the 2016 bond. The board voted to accept the reporting schedule staff presented.
The staff member said the agency’s payment priority follows a required order of operations and cited the amounts staff included in the schedule: $336,000 needed for the 2009 tax-allocation bond this year and $77,868 associated with the 2016 bond. “Both bonds are in default, so we are…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
