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Board authorizes up to $14.5 million in special-tax bonds for CFD 2023-3
Summary
The Board approved Resolution No. 20262703 authorizing the issuance of a 2026 series of special-tax bonds for Community Facilities District 2023-3 in an amount not to exceed $14,500,000; staff said the bonds would be priced in early August with a targeted closing on Aug. 19 and would not affect the district general fund.
The Board of Education of the Moreno Valley Unified School District, acting as the legislative body for Community Facilities District 2023-3, voted unanimously to adopt Resolution No. 20262703, authorizing the issuance of a 2026 series of special-tax bonds in a principal amount not to exceed $14,500,000.
District staff member Susana Lopez told the board the CFD was formed in October 2023 and that homes tied to this CFD had been sold and closed as of April 1, 2026. Lopez said the packet included a bond resolution, a fiscal agent agreement, a bond purchase agreement, a preliminary official statement and a continuing disclosure agreement; if the board approved the resolution staff would proceed to price the bonds (projected Aug. 5) and target a closing on Aug. 19. “These are all CFD funds, and so there's no impact to any, general fund district funds,” Lopez said.
Board members voted by roll call (Leyva, Jackson, Williams, Luna and Clark) and the motion passed 5-0.
