• ISIN: US14917JAR23
  • Entity Name: City of Cathedral City Community Facilities District No. 2000-1
  • Sector: Municipal Agency
  • Announcement Date: 14-Sep-2016
  • Effective Date: 01-Sep-2016
  • Issue Date: *****
  • Maturity Date: 01-Sep-2019
  • Country of Issuer: United States
  • Region: N.Amer
  • Issue Currency: United States of America Dollars
  • CA Type: Unscheduled Draw
  • News: This Notice of Occurrence of Listed Event (the Notice) has been prepared to satisfy the obligations of the City of Cathedral City (the City), pursuant to Section 5 of that certain Continuing Disclosure Agreement dated November 1, 2000 (the Disclosure Agreement) executed by the City and Willdan Financial Services as the successor Dissemination Agent, in connection with the execution and delivery of the City of Cathedral City $12,230,000 Special Tax Bonds and the requirements of Rule 15c2-12 of the Securities Exchange Act of 1934, as amended. On September 1, 2016 a draw on the Reserve Fund for $570,857.51 was required to pay the September 1, 2016 Debt Service Payment on the Bonds. Also on September 1, 2016 the Reserve Fund was partially replenished with funds from the Holding Account in the amount of $245,518.46, therefore the Reserve Fund was $324,857.61 below the Reserve Requirement. The unscheduled draw on reserves is due to the delinquencies in the District. There are major property owners responsible for the special tax greater than 5% of the special tax levy that are delinquent in payment of the special taxes for Fiscal Year 2015/2016.
  • Description: Municipal Name: City of Cathedral City Community Facilities District No. 2000-1 CUSIP: 14917JAR2 City of Cathedral City Community Facilities District No. 2000-1 announced today that it has drawn USD 570,857.51 from the reserve fund to make the September 2016 debt service payment for the Series 2000-1 Bonds on September 1, 2016.
  • Bond Document:
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