Overview

On December 16, 2002, the City Council adopted resolution no. 02-C142 establishing the formation of the Mountain Cove - Community Facilities District #2002-1. The City Council issued tax-exempt bonds in the amount of $8,980,000 to facilitate the infrastructure and development of the Mountain Cove community.

The City facilities and services that are financed and constructed utilizing the proceeds from the sale of these bonds were: the roads, sewer, utilities, bridge(s), sidewalks, street lights, flood control services, police and fire protection services.

The Mountain Cove community is comprised of approximately 327 single family residences that are split into three distinct developments: the Wildwoods, the Sagewoods, and the Copperwood.

For more information please contact Talika Johnson, Director of Finance at (626) 812-5202.

Important Dates Event Date Resolution of Intent to Establish November 18, 2002 Resolution for Formation of CFD December 16, 2002 Bond Issue December 17, 2002 Foreclosure Covenants October 1 (Yes) Important Documents Resolution No. 02-C133 - Intent to Establish CFD Resolution No. 02-C142 - Formation of CFD

Important Details Topic Details Bond / Escrow Maturity Date 2026 / 2032 Authorized Debt Amount $11,000,000 Bond Issuance Amount $8,980,000 Bond Interest Rate 5.87% Bond Call Notice 30 to 60 days Redemption Premium 0-2% Reserve Fund Requirement 10% or $875,328.14 Los Angeles County Fund Number(s) 112.51

Disclaimer

This document is being provided for informational purposes only.

The special taxes relative to the Community Facilities District (CFD) are determined by the City Council. All of other taxes or charges levied are determined through the Los Angeles County Assessor’s Office.