California Debt and Investment Advisory Commission

Draw on Reserve or Default Report

Castaic Union School District CFD No 92-1 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:  Castaic Union School District CFD No 92-1
County:  Los Angeles
Project:  
Original Sale Date:  8/15/1992
CDIAC Number:  1992-0823
Type of Event:  Replenishment
Date of Event:  4/7/2014
Amount Replenished:  $391,950
Contact:  Lyn Gruber, Koppel & Gruber Public Finance
Phone Number:  (760) 510-0290

Comments:  

Date Received:   4/10/2014
Date posted to this website:   Thursday, May 08, 2014


Issuer:  Castaic Union School District CFD No 92-1
County:  Los Angeles
Project:  
Original Sale Date:  8/15/1992
CDIAC Number:  1992-0823
Type of Event:  Draw on Reserve
Date of Event:  4/1/2014
Amount Withdrawn:  $391,950
Contact:  Lyn Gruber, Koppel & Gruber Public Finance
Phone Number:  (760) 510-0290

Comments:  
An unscheduled draw on the Reserve Fund was made due to a clerical error. Once discovered, funds were immediately transferred and the Reserve Fund was replenished. Additional steps have been implemented to ensure the error is not repeated.

Date Received:   4/10/2014
Date posted to this website:   Thursday, May 08, 2014


Issuer:  Castaic Union School District CFD No 92-1
County:  Los Angeles
Project:  
Original Sale Date:  9/2/1992
CDIAC Number:  1992-0823
Type of Event:  Draw on Reserve
Date of Event:  4/1/2010
Amount Withdrawn:  $553,237.50
Contact:  Lyn Gruber, Koppel & Gruber Public Finance
Phone Number:  (760) 510-0290

Comments:  

Date Received:   4/9/2010
Date posted to this website:   Friday, April 09, 2010


Issuer:  Castaic Union School District CFD No 92-1
County:  Los Angeles
Project:  
Original Sale Date:  8/15/1992
CDIAC Number:  1992-0823
Type of Event:  Draw on Reserve
Date of Event:  10/1/2009
Amount Withdrawn:  $619,807.42
Contact:  Lyn Gruber, Koppel & Gruber public Finance
Phone Number:  (760) 510-0290

Comments:  
On October 1, 2009, an unscheduled draw was made on the reserve fund established for the $19,500,000 Community Facilities District No. 92-1 of the Castaic Union School District Series1992 Special Tax Bonds. The draw is due to Special Tax delinquencies. The property is currently owned by a single property owner and is in bankruptcy; the School District has retained Special Counsel to monitor the bankruptcy in order to pursue foreclosure at the first opportunity. The Reserve Fund balance after the draw is $1,310,962.58. The Reserve Fund Requirement is $1,930,770.00.

Date Received:   10/8/2009
Date posted to this website:   Friday, October 09, 2009