Rancho Cordova council approves up to $13.5 million in CFD special-tax bonds for Preserve development

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 authorize the sale of bonds in an amount not to exceed $13,500,000." She emphasized that the special-tax bonds "are an obligation of the special taxes levied within that district and not the city's general fund."

Council member Linda moved approval of item 12.1; another council member seconded the motion and the council then approved it by roll call. The recorded vote showed the motion carried with all members voting in the affirmative.

Nut graf: The bond authorization lets the community facilities district raise capital for infrastructure tied to the Rancho Cordova Preserve project while keeping the city's general fund insulated from that district debt, city staff said.

Council discussion and staff response were brief. No public comment was received on the item. The finance manager noted staff had prepared a preliminary official statement, a fiscal agent agreement and other related documents for execution if council approved the sale.

Votes at a glance: - Consent calendar (items 9.19.3): approved by motion and roll call. - Item 12.1 (Resolution authorizing CFD special-tax bonds): approved by motion and roll call; amount authorized not to exceed $13,500,000.

The council adjourned the meeting to closed session shortly after the vote; no further open-session action on the bonds was taken that evening.