Assessment District 94-1
Abbreviation : AD 94-1
Fund No. : 68-2811
Area : Soboba Springs
Bonds Issued : Yes
Bonds Mature : 2014
Contact Info : NBS Government Finance Group (800) 676-7516
About this District
Assessment District 94-1 is a 1915 Act Assessment District, formed in 1994 for the purpose of providing funds for infrastructure improvements in the Soboba Springs development area. Bonds in the amount of $638,366 were issued and combined with funds from CFD# 88-1 to pay for the improvements.
Property owners that paid into CFD# 88-1 were given credits toward the property assessment in AD 94-1.Those property owners that elected not to pay the full assessment in 1994 are levied an annual assessment until the anticipated bond maturity in 2014. AD 94-1 is a lien against the property until the assessment is paid in full, including any penalties and interest. In accordance with California Streets and Highways Code, property owners paying their assessment over the life of the bond issue may pay off the assessment in advance at any time or may tender 94-1 bonds in payment of their assessment.
The bond debt of Assessment District 94-1 is not a debt of the City of San Jacinto, but is a debt of the district itself. All assessments paid by the property owners are used to pay interest to bondholders and redeem bond principle as it matures. Bond Offering Statement and Original Engineer's report is available free of charge on the Digital Assurance Certification website, but you must register with DAC.