California Debt and Investment Advisory Commission

Draw on Reserve or Default Report

Western Hills Water District Diablo Grande CFD No 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:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  7/25/2014
CDIAC Number:  2014-0945
Type of Event:  Draw on Reserve
Date of Event:  9/13/2019
Amount Withdrawn:  $1,618,673.38
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On September 3, 2019, a total of $538,825 was withdrawn from the Reserve Fund to partially fund the debt service payment due on the Bonds on that date. On September 13, 2019, an additional $1,618,673 was withdrawn from the Reserve Fund to partially fund the Bonds debt service payment due on September 3, 2019. Overall, the total amount drawn from the Reserve Fund was $2,157,498. The balance of the Reserve Fund following these withdrawals is $0. Reserve fund is shared between 2014-0945 and 2015-1143 The amount of the draw reported is the total amount withdrawn for both bonds.

Date Received:   9/13/2019
Date posted to this website:   Tuesday, September 17, 2019


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  7/25/2014
CDIAC Number:  2014-0945
Type of Event:  Draw on Reserve
Date of Event:  9/3/2019
Amount Withdrawn:  $538,825.01
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On September 3, 2019, a total of $538,825 was withdrawn from the Reserve Fund to partially fund the debt service payment due on the Bonds on that date. On September 13, 2019, an additional $1,618,673 was withdrawn from the Reserve Fund to partially fund the Bonds debt service payment due on September 3, 2019. Overall, the total amount drawn from the Reserve Fund was $2,157,498. The balance of the Reserve Fund following these withdrawals is $0. Reserve fund is shared between 2014-0945 and 2015-1143 The amount of the draw reported is the total amount withdrawn for both bonds.

Date Received:   9/13/2019
Date posted to this website:   Tuesday, September 17, 2019


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  7/25/2014
CDIAC Number:  2014-0945
Type of Event:  Default
Date of Event:  9/3/2019
Amount of Default:  $2,822,935.00
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
A total of $847,935 in interest on the Bonds was due on September 3, 2019. Additionally, there was a mandatory sinking fund redemption scheduled for the same date in the amount of $1,975,000. The interest due on the Bonds was not paid until September 13, 2019. As of the date of this notice, the principal due on the bonds has not been paid. The District anticipates that a portion of the principal due for the mandatory sinking fund redemption will be paid on Monday, September 16, 2019.

Date Received:   9/13/2019
Date posted to this website:   Tuesday, September 17, 2019


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  6/16/2015
CDIAC Number:  2015-1143
Type of Event:  Draw on Reserve
Date of Event:  9/3/2019
Amount Withdrawn:  $538,825.01
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On September 3, 2019, a total of $538,825 was withdrawn from the Reserve Fund to partially fund the debt service payment due on the Bonds on that date. On September 13, 2019, an additional $1,618,673 was withdrawn from the Reserve Fund to partially fund the Bonds debt service payment due on September 3, 2019. Overall, the total amount drawn from the Reserve Fund was $2,157,498. The balance of the Reserve Fund following these withdrawals is $0. Reserve fund is shared between 2014-0945 and 2015-1143 The amount of the draw reported is the total amount withdrawn for both bonds.

Date Received:   9/13/2019
Date posted to this website:   Tuesday, September 17, 2019


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  6/16/2015
CDIAC Number:  2015-1143
Type of Event:  Draw on Reserve
Date of Event:  9/13/2019
Amount Withdrawn:  $1,618,673.38
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On September 3, 2019, a total of $538,825 was withdrawn from the Reserve Fund to partially fund the debt service payment due on the Bonds on that date. On September 13, 2019, an additional $1,618,673 was withdrawn from the Reserve Fund to partially fund the Bonds debt service payment due on September 3, 2019. Overall, the total amount drawn from the Reserve Fund was $2,157,498. The balance of the Reserve Fund following these withdrawals is $0. Reserve fund is shared between 2014-0945 and 2015-1143 The amount of the draw reported is the total amount withdrawn for both bonds.

Date Received:   9/13/2019
Date posted to this website:   Tuesday, September 17, 2019


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  6/16/2015
CDIAC Number:  2015-1143
Type of Event:  Draw on Reserve
Date of Event:  3/1/2019
Amount Withdrawn:  $36,516.33
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On March 1, 2019, the District requested a draw of $36,516.33 from the Reserve Fund to fund a portion of the debt service payment due March 1, 2019. The draw was necessary due to delinquencies in payment of the special tax. The draw was necessary due to delinquencies in payment of the special tax. Approximately 62% of the special tax levy for fiscal year 2017-18 was delinquent. Reserve Fund is shared between 2014-0945 and 2015-1143 The amount of the draw reported is the total amount withdrawn for both bonds.

Date Received:   3/6/2019
Date posted to this website:   Tuesday, September 17, 2019


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  7/25/2014
CDIAC Number:  2014-0945
Type of Event:  Draw on Reserve
Date of Event:  9/4/2018
Amount Withdrawn:  $2,208,682.45
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On September 4, 2018, the District requested a draw of $2,208,682.45 from the Reserve Fund to fund a portion of the debt service payment due September 4, 2018. The draw was necessary due to delinquencies in payment of the special tax. The draw on the Reserve Fund was made on September 4, 2018 and the interest and principal payments due on the Bonds were made on time.

Date Received:   9/7/2018
Date posted to this website:   Friday, December 28, 2018


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  6/16/2015
CDIAC Number:  2015-1143
Type of Event:  Draw on Reserve
Date of Event:  9/4/2018
Amount Withdrawn:  $2,208,682.45
Contact:  Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number:  (916) 561-0890

Comments:  
On September 4, 2018, the District requested a draw of $2,208,682.45 from the Reserve Fund to fund a portion of the debt service payment due September 4, 2018. The draw was necessary due to delinquencies in payment of the special tax. The draw on the Reserve Fund was made on September 4, 2018 and the interest and principal payments due on the Bonds were made on time.

Date Received:   9/7/2018
Date posted to this website:   Friday, December 28, 2018


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  7/26/2001
CDIAC Number:  2000-1743
Type of Event:  Draw on Reserves
Date of Event:  9/1/2008
Amount Withdrawn:  $798,007.00
Contact:  Marc Grijalva, Willdan Financial Services
Phone Number:  (800) 755-6864

Comments:  

Date Received:   9/12/2008
Date posted to this website:   Friday, September 12, 2008


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  12/13/2002
CDIAC Number:  2002-1904
Type of Event:  Draw on Reserves
Date of Event:  9/1/2008
Amount Withdrawn:  $248,471.74
Contact:  Marc Grijalva, Willdan Financial Services
Phone Number:  (800) 755-6864

Comments:  

Date Received:   9/12/2008
Date posted to this website:   Friday, September 12, 2008


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  4/27/2004
CDIAC Number:  2004-0373
Type of Event:  Draw on Reserves
Date of Event:  9/1/2008
Amount Withdrawn:  $668,137.58
Contact:  Marc Grijalva, Willdan Financial Services
Phone Number:  (800) 755-6864

Comments:  

Date Received:   9/12/2008
Date posted to this website:   Friday, September 12, 2008


Issuer:  Western Hills Water District Diablo Grande CFD No 1
County:  Stanislaus
Project:  
Original Sale Date:  1/13/2005
CDIAC Number:  2005-0066
Type of Event:  Draw on Reserves
Date of Event:  9/1/2008
Amount Withdrawn:  $327,900.64
Contact:  Marc Grijalva, Willdan Financial Services
Phone Number:  (800) 755-6864

Comments:  

Date Received:   9/12/2008
Date posted to this website:   Friday, September 12, 2008