Draw on Reserve or Default Report
Atwater CFD No. 1-90 Mello-Roos Community Facilities Districts
This report is based on unaudited information reported to the California Debt and Investment Advisory Commission pursuant to Government Code Section 53359.5(c) from sources considered to be reliable. The Commission is not liable for inadvertent errors or omissions that are reported as part of these reports.
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995A Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1171
Type of Event: Default
Date of Event: 8/2/2004
Amount of Default:
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
There was a failure to pay the scheduled principal payment on August 2, 2004 in the amount of $375,000. The CFD retired $505,000 in past due Series 1995 A Bond principal in August 2004; however, the CFD is still in default on $420,000 (including the $375,000 that matured on August 2, 2004) in Series 1995 A Bond principal. Interest on all outstanding Series 1995 A Bonds was paid in full on August 2, 2004.
Date Received: 8/13/2004
Date posted to this website:
Tuesday, October 19, 2004
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 8/2/2004
Amount Not Paid: $412,000
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 8/13/2004
Date posted to this website:
Tuesday, October 19, 2004
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 2/2/2004
Amount Withdrawn/Not Paid: $132,000
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 2/17/2004
Date posted to this website:
Thursday, March 18, 2004
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995A Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1171
Type of Event: Default
Date of Event: 8/1/2003
Amount Withdrawn/Not Paid: $330,000
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Community Facilities District retired $520,00 in past due Series 1995A Bond principal on August 1 2003; however, the CFD is still in default on &875,000 (including the $330,000 that matured on August 1, 2003) in Series 1995A Bond principal. The interest payment due on all outstanding Series 1995A Bonds on August 1, 2003 was paid in full.
Date Received: 8/19/2003
Date posted to this website:
Monday, September 22, 2003
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 8/1/2003
Amount Withdrawn/Not Paid: $393,375
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 8/19/2003
Date posted to this website:
Monday, September 22, 2003
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 2/2/2003
Amount Withdrawn/Not Paid: $138,375
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 2/4/2003
Date posted to this website:
Thursday, February 20, 2003
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 8/1/2002
Amount Withdrawn/Not Paid: $374,125
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 8/27/2002
Date posted to this website:
Friday, September 27, 2002
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995A Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1171
Type of Event: Default
Date of Event: 8/1/2002
Amount Withdrawn/Not Paid: $290,000
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The interest payment due on the bond was paid in full, failure to pay the scheduled principal payment was in the amount of $290,000.
Date Received: 8/15/2002
Date posted to this website:
Friday, September 27, 2002
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 2/1/2002
Amount Withdrawn/Not Paid: $144,125
Contact: Victor Irzyk
Phone Number: (916) 561-0890
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 2/8/2002
Date posted to this website:
Monday, March 11, 2002
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995A Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1171
Type of Event: Default
Date of Event: 2/1/2001
Amount Withdrawn/Not Paid: $56,090.68
Contact: Victor Irzyk
Phone Number: (916) 920-1109
Comments:
Interest was not paid in full on the scheduled payment date. Total interest due on the bonds was $406,090.68. Interest paid was $350,000, leaving a balance of $56,090.68 in unpaid interest.
Date Received: 2/2/2001
Date posted to this website:
Thursday, March 1, 2001
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 2/1/2001
Amount Withdrawn/Not Paid: $149,500
Contact: Victor Irzyk
Phone Number: (916) 920-1109
Comments:
The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996.
Date Received: 2/2/2001
Date posted to this website:
Thursday, March 1, 2001
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995A Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1171
Type of Event: Default
Date of Event: 8/1/2000
Amount Withdrawn/Not Paid:
Contact: Victor Irzyk
Phone Number: (916) 920-1109
Comments:
Failure to pay the scheduled principal and interest payment.
Date Received: 8/4/2000
Date posted to this website:
Tuesday, October 19, 2004
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 8/1/2000
Amount Withdrawn/Not Paid: $359,625
Contact: Victor Irzyk
Phone Number: (916) 920-1109
Comments:
Interest was not paid on the scheduled payment date with respect to the bonds described. The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996
Date Received: 8/4/2000
Date posted to this website:
Tuesday, October 19, 2004
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995A Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1171
Type of Event: Default
Date of Event: 2/1/2000
Amount Withdrawn/Not Paid: $99,320
Contact: Victor Irzyk
Phone Number: (916) 920-1109
Comments:
Interest was not paid in full on the scheduled payment date of February 1, 2000. The interest due was $399,320.63, and the interest paid was $300,000, the unpaid interest balance remaining is $99,320. The City of Atwater and bondholders of Series A bonds have entered into an agreement which in essence states that Bondholders will be paid the interest and principal on their bond holdings, whether it is current or in default, as special tax revenues become available.
Date Received: 2/14/2000
Date posted to this website:
Tuesday, October 19, 2004
Issuer: Atwater CFD No. 1-90
County: Merced
Project: Multiple Capital Improvements, Series 1995B Bonds
Original Sale Date: 7/27/1995
CDIAC Number: 95-1283
Type of Event: Default
Date of Event: 2/1/2000
Amount Withdrawn/Not Paid: $154,625
Contact: Victor Irzyk
Phone Number: (916) 920-1109
Comments:
Interest was not paid on the scheduled payment date with respect to the bonds described. The Series 1995 B Bonds were privately placed and have not been sold to the general public; they have been in default since February 1, 1996
Date Received: 2/14/2000
Date posted to this website:
Tuesday, October 19, 2004