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Rancho Cordova council approves up to $13.5 million in CFD special-tax bonds for Preserve development
Summary
The Rancho Cordova City Council voted to authorize issuance and sale of special-tax bonds for the Rancho Cordova Preserve Community Facilities District No. 2025-1, approving related financing documents and a fiscal agent agreement; staff said the debt is secured by special taxes within the district and not by the citys general fund.
The Rancho Cordova City Council on a unanimous roll call vote approved a resolution authorizing issuance and sale of special-tax bonds for the Rancho Cordova Preserve Community Facilities District No. 2025-1, enabling the CFD to issue up to $13,500,000 to fund infrastructure and related impact fees.
Michelle Menge, the city's finance manager, told council the CFD was formed in 2025 and that "approval of the resolution does…
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