California Debt and Investment Advisory Commission

Draw on Reserve or Default Report

Corona CFD No 2004-1 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:  Corona CFD No 2004-1
County:  Riverside
Project:  Buchanan St
Original Sale Date:  3/29/2006
CDIAC Number:  2005-1749
Type of Event:  Draw on Reserves
Date of Event:  9/2/2008
Contact:  Gayzell Perry O’Neal, Corona
Phone Number:  (951) 736-2453

Comments:  
The reserve requirement was restored in February 2009 immediately after receiving the 1st Installment of special taxes for Fiscal Year 2008/09. The Reserve Fund is currently fully funded. The current special tax delinquency rate for Fiscal Year 2009/10 is 3.08%.

Date Received:   9/25/2008
Date Updated:  3/3/2010:
Date posted to this website:   Wednesday, March 03, 2010


Issuer:  Corona CFD No 2004-1
County:  Riverside
Project:   Buchanan St
Original Sale Date:  3/29/2006
CDIAC Number:  2005-1749
Type of Event:  Draw on Reserves
Date of Event:  9/2/2008
Amount Withdrawn:  $16,693.50
Contact:  Gayzell Perry O’Neal, Corona
Phone Number:  (951) 736-2453

Comments:  
The district currently has a special tax delinquency rate of 19.2%. The Reserve fund is now $9,182.93 under its requirement.

Date Received:   9/25/2008
Date posted to this website:   Friday, September 26, 2008