AGENDA
ITEM
29 AGENDA
CALEXICO California ITEM
WHINI KALIDENIA AND MIXICO MILI
29 CITY COUNCIL
AGENDA STAFF REPORT
DATE: September 16, 2026
TO: Mayor and City Council
APPROVED BY: Benjamin Martinez, City Manager I t
PREPARED BY: Karla Chaparro, Finance Director Ve
SUBJECT: Accept Informational Report on Historical School Mitigation/Developer Fee Payments Related to Calexico Unified School District within Community Facilities District No. 2005-1 (Hearthstone)
====z==s===
Recommendation:
Accept the informational report regarding the Finance Department's review and verification of historical school mitigation/developer fee payments associated with Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone) and Calexico Unified School District.
Background:
Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone) was established in connection with the Hearthstone residential development. As part of the financing associated with the development, bond proceeds were intended to finance certain public facilities and development impact fees related to the project.
The financing plan for CFD No. 2005-1 identified approximately $12.83 million in eligible fees and improvements, including an estimated $6,547,649 in fees related to Calexico Unified School District.
As part of a recent review of historical transactions associated with CFD No. 2005-1 and related school mitigation/developer fees, Finance staff identified the following transactions:
• August 25, 2006 - $1,372,529.05 paid to PCC - La Jolla Palms, LLC as reimbursement for allowable development impact fees previously paid directly to Calexico Unified School District; • November 13, 2007 - $2,000,000.00 transmitted to the Imperial County Treasurer for school- related fees; and
• October 22, 2008 - $3,540,459.54 transmitted to the Imperial County Treasurer for school- related fees.
Because the latter two payments were transmitted to the Imperial County Treasurer rather than directly to Calexico Unified School District, Finance staff conducted additional research to determine how the funds were ultimately recorded and allocated.
1 Finance staff contacted the Imperial County Treasurer's Office and the Imperial County Office of Education ('ICOE") and requested additional information and supporting documentation regarding the historical transactions.
Discussion and Analysis:
Finance staff reviewed the historical records related to the school mitigation/developer fee payments associated with CFD No. 2005-1 (Hearthstone).
City records reflect that on November 13, 2007, $2,000,000.00 was wired to the Imperial County Treasurer for school-related fees. A second wire in the amount of $3,540,459.54 was made to the Imperial County Treasurer on October 22, 2008.
The Imperial County Treasurer's Office confirmed receipt of both payments and explained that school- related funds received by the County are reported through the County's school fund structure and that ICOE is responsible for allocating the funds to the appropriate school districts.
Finance staff then contacted ICOE for further verification. ICOE reviewed its historical records and confirmed that the $2,000,000.00 payment was credited to Calexico Unified School District on November 14, 2007, and the $3,540, 459.54 payment was credited to the District on October 28, 2008.
Both transactions were recorded in Calexico Unified School District's Capital Facilities Fund, Mitigation/Developer Fees account.
Finance staff also reviewed City documentation related to the separate $1,372,529.05 payment to PCC - La Jolla Palms, LLC. The documentation reflects that this payment represented reimbursement for allowable development impact fees that had previously been paid directly by the developer to Calexico Unified School District.
The historical transactions reviewed by Finance are summarized below:
Transaction Amount
August 25, 2006 - Reimbursement to PCC - La Jolla Palms, LLC for allowable $1,372,529.05 development impact fees previously paid directly to Calexico Unified School District
November 13, 2007 - Payment credited to Calexico Unified School District $2,000,000.00 through County/ICOE
October 22, 2008 - Payment credited to Calexico Unified School District $3,540,459.54 through County/ICOE
Total Historical Transactions Reviewed $6,912,988.59
2 Conclusion:
Based on the historical records reviewed and the supporting documentation and confirmations obtained from the Imperial County Treasurer's Office and ICOE, Finance staff confirmed how the school mitigation/developer fee transactions associated with CFD No. 2005-1 (Hearthstone) were processed and recorded.
The review confirmed that the payments transmitted through the Imperial County Treasurer were credited to Calexico Unified School District and that the separate payment to PCC - La Jolla Palms, LLC was reimbursement for allowable development impact fees previously paid directly to the District.
This informational report provides the City Council with the results of Finance staff's review of these historical transactions and the supporting documentation obtained as part of that review.
Fiscal Impact:
There is no current fiscal impact associated with this informational report. The transactions described above occurred in prior fiscal years and relate to historical expenditures associated with Community Facilities District No. 2005-1 (Hearthstone).
Coordinated With:
• Imperial County Treasurer's Office
• Imperial County Office of Education
Attachments):
• Attachment 1 - CFD No. 2005-1 Financing Plan - School District Fees and Eligible Improvements
• Attachment 2 - City of Calexico Supporting Documentation Related to Historical School Fee Payments, including the $1,372,529.05 Reimbursement to PCC - La Jolla Palms, LLC • Attachment 3 - Supporting Documentation for the November 2007 Payment of $2,000,000.00 • Attachment 4 - Supporting Documentation for the October 2008 Payment of $3,540,459.54 ATTACHMENT 1
THE FINANCING PLAN
The proceeds of the Bonds will used to finance public facilities and capital impact fees relating to a residential development within the District. Such eligible public facilities and capital impact fees and estimated costs thereof are set forth below. Any shortfall in financing these costs are the responsibilities of the Developer. The inability of the Developer to finance any shortfall may have an adverse effect or the Developer's ability to complete the development as contemplated.
Description of Fees/Improvements Estimated Costs
City of Calexico - Fees
Fire Impact Fee $197,074
Police Impact Fee 98,070
Public Impact Fee 249,378
Sewer Impact Fee 700,500
Water Impact Fee 822,854
Traffic Impact Fee 196,140
314,291
Cole Road Corridor Fee 495,825
Lift Station #9 and #11 Fee 282,377
Total City Fees $3,356,509
City of Calexico - Improvements
Cole Road Improvements $697,329
Meadows Road Improvements 758,288
Off-site Sewer Improvements 255,338
Sewer Lift Station 500,000
Retention Basin 227,637
Contingency (20%) 487,718
Total City Improvements $2,926,310
Calexico Unified School District Fees $6,547,649
Total: $12,830,469
Source: The Developer.
THE BONDS
Description of the Bonds
The Bonds will be issued as fully registered bonds, in denominations of $5,000 each or any integral multiple thereof within a single maturity and will be dated and bear interest from the date of their lelivery (the "Dated Date'"), at the rates set forth on the inside cover page hereof. The Bonds will be issued in fully registered form, without coupons.
6 ATTACHMENT 2
usbank.
AA - 180-01449-0 151
Five Smr Service Gunzanteed (C)
000 47 Page 4 of 8
ACCOUNT NUMBER: 103605008
CALEXICO COMMUNTIY FACILITIES -
DISTRICT NO 2005-1 (HEARTHSTONE)
2006
SCHOOL DISTRICT
This statement is for the period from
July 10, 2006 to June 30, 2007
810931
Date Income Principal Investments
Posted Description Cash Cash At Cost
07/10/06 Beginning Balance $0.00 $0.00 $0.00
07/12/06 Rese Of Funds Fed Ref 1932/ k103 Application Of 6,547,504.80 Bond Proceeds
07/12/06 Purchased 6,547,504.8 Units Of - 6,547,504.80 6,547,504.80 First Amer Treas Oblig Fd Cl D Trade Date 7/12/06
CUSIP: 31846V302
07/13/06 Sold 6,547,504.8 Units Of 6,547,504.80 - 6,547,504.80 First Amer Treas Oblig Fd Cl D Trade Date 7/13/06
CUSIP: 31846V302
07/13/06 Purchased 6,547,504.8 Dollars Of -6,547,504.80 6,547,504.80 Ixisic Gic 5.160% 9/01/08 Trade Date 7/13/06 Purchased
Cursi Direct From Issuer 6,547,504.8 Dollars At 100%
08/02/06 Is Amer Tireds Oblig Fa Cl D interest From 7/1/06 To 831.12 7/31/06 •
CÚSIP: 31846V302
08/02/06 Cash Disbursement Transfer To Principal - 831.12 Income Earnings
08/02/06 Cash Receipt 831.12
Transfer From Income Income Earnings
08/02/06 Purchased 831.12 Units OF - 831.12 831.12
First Amer Treas Oblig Fd Cl D Trade Date 8/2/06
CUSIP: 31846V302
08/25/06 ash Disbursement Paid To l - 1,372,529.05
fire Transfer Reg. #2; Exhibit B; Attachment #
Reimbursement Of City Of Calexico Fee Paid B
Developer Vch276:
08/25/06 SustAiner Treas Ubig Fd CID Trade Date 8/25/06 1,372,529.05 - 1,372,529.05 CUSIP: 31846V302
08/25/06 1,371,697,93 - 1,371,697.93
08/25/06 Purchased 1,371,697.93 Units Of - 1,371,697.93 1,371,697.93 First Amer Treas Oblig Fd Cl D Trade Date 8/25/06
CUSIP: 31846V302
09/05/06 Interest Earned Or 2.14
First Amer Treas Oblig Fd Cl D Interest From 8/1/06 Te
CUSIP: 31846V302
OF CALERIO City nt Galexica
Finance Department
608 HEBER AVENUE CALEXICO, CA 92231 (760) 768-2130
August 17, 2006
Bradley E. Scarbrough
Vice President
US BANK CORPORATE TRUST SERVICES
633 W. 5th Street, 24th Floor
Los Angeies, CA_ 90071
Re: Form of Requisition for Disbursement
Cornmunity Facilities District No. 2005-1
(Hearthstone)
Dear Mr. Scarbrough:
Enclosed is the Form of Requisition for Disbursement of Projects Costs and the CFD Disbursement Approval Procedures for processing.
If you have any questions, please feel free to contact me at (760) 768-5421.
Sincerely,
CITY OF CALEXICO
Eduardo Gutierrez
Assistant Finance Director
Enc.
608 Heber Avenue
Calexico, CA 92231
CITY OF CALEXICO Tel: 760.768.2133
Fax: 760.768.2125
[email protected]
AS B
Finance Department ExHIBIr
FORM OF REQUISITION FOR DISBURSEMENT OF PROJECT COSTS
COMMUNITY FACILITIES DISTRICT NO. 2005-1
OF THE CITY OF CALEXICO
(HEARTHSTONE)
U.S. Bank National Association, Trustee, is hereby requested to pay from the School District Account of the Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone) Acquisition and Construction Fund, established by the Bond Indenture between the Trustee and Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone) for the District, dated as of July 1, 2006, the amount specified and to the payee named below for payment of the Project Costs set forth in Attachment No. 1 hereto.
Payee: PCC - La Jolla Palms LLC
Address: Please wire funds to:
Southwest Community Bank
2401 Katella Ave, Suite 100
Anaheim, CA 92806
Call Back
Account Name: PCC - La Jolla Palms, LIC
Account/ MA
Notify: Yong Kim (949) 296 - 3620 Pax
Standing Instruction Purpose: Reimbursement of Calexico Unified School District Fees paid by Developer
Validated by: Security Procedure Repetitive If Call Back: Person Called Date and Time Signature. Amount: $1,372,529.05 WireK The amount is due and payable under purchase order, contract or other authorization and has Gt formed the basis of any prior request for payment. The conditions for the release of this amoun rom the of Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone Acquisition and Construction Fund, including those conditions in Section 3.9(b) of the Indenture have been satisfied.
There has not been filed with nor served upon the District notice of any lien, right to lien or attachment upon, or stop notice or claim affecting the right to receive payment of the amount specified above which has not been released or will not be released simultaneously with the payment of such amount, other than materialmen's or mechanic's liens accruing by mere operation of law.
Dated: 8.17.04
COMMUNITY FACILITIES DISTRICT NO. 2005-1
OF THE CITY OF CALEXICO (HEARTHSTONE)
By:
Authorized Representative
B-I Viva Calexico!
( (
CFD Disbursement Approval Procedure
Payment Request No. 3 CFD 2005-1 (Hearthstone)
Date Requested: August 15, 2006
Request Information: This payment request is for reimbursement of allowable development fees paid to the School District. The request is to reimburse the advanced amount as follows: $1,372,529.05 Actions required and steps taken in approving this request:
1. Special Tax Consultant: Confirms that the facilities and/or fess are per the Acquisition Agreement, and includes, where required, confirmation of three (3) bids, contracts to perform the work, invoices or cancelled checks, and lien releases.
Special Tax Consultant Recommendations: To submit to the Trustee, to pay as requested from the Improvement Fund. The Request lists the fees paid and meets the requirements for reimbursement. This request should be paid fromffle Improvement Fund (no retention required). ....
City Special Taš Consultant Approval
2. City Public Works Director: Confirm that the improvements have been completed, inspected, and meet the conditions set out in the Acquisition Agreement. Sign the original copy of the request and below.
Not Required - Fee Reimbursement
City Public Works Director Approval
3. City Authority: Review and approve the request for disbursement.
Spaalind Пнииа
Authonized City Approval Date Submitted: 8/15/2006
4. Trustee: Please prepare and send these payments(wire instructions of file):
Please Wire Funds to:
Southwest Community Bank
2401 Katella Ave, Suite 100
Anaheim, CA 92806
ABA#I
Account Name: PCC - La Jolla Palms, LLC
Account #B
Please Notify: Yong Kim (949) 296-3620
From: Cost of Improvements Fund (with no retention required) $1,372,529.05 Altachment: Invoice.
27127 CALLE ARROYO, SUITE 1910
ADPFG SAN JUAN CAPISTRANO, CA 92675
TEL (949) 388-9269
DEVELOPMENT PLANNING & FINANCING GROUP, INC.
FAX (949) 388-9272
www.dpfg.com
Atti: Alan Kapanicas July 21, 2006
City of Calexico
608 Heber Avenue
Calexico, CA 92231
Re: City of Calexico Community Facilitics District No. 2005-1 (Ecartistone) Request for Payment Request
District Account of the Acquisition and Construction Fund (see wiring instructions below).
Payment Request $1,372,529.05
Please.wire.funds.to:...
c razo do
Southwest Community Bank
2401 Katella Ave, Suite 100
Anaheim, CA 92806
Account Name: PCC - La Jolia Palms, LLC
AccountiC es
Notify: Yong Kim (949) 296 - 3620 Fax
Please see attached docutnentation for payment request summary and detail. If you have any questions or require any additional information, please feel free to contact me at (949) 218-6045.
Best Regards,
Meagan Marshad
Cc: Todd Rosa, Pacific Century Homes
Bryan Avilla, Pacific Century Homes
Sunit Patel, DPFG
ORANGE COUNTY, CA SACRAMENTO, CA LAS VEGAS, NV PHOENIX, AZ ORANGE COUNTY, EL Attachment A
City of Calexico Community Facilities District 2005-1 (Hearthstone) Reimbursement Request
Calexico Unified School District Fee Reimbursement Summary July 21, 2006
Somerset
Unit Phase No. of
School Mitigation Check No. Check Date
Lots Fees
Models 16,320.00 1068 08/15/05
Phase 1 19 155.591 25 1080 08/15/05
Phase 2 21 183,487.50 1167 10/26/05
Phase 3 20 171,678,75 1169 10/26/05
Eligible Reimbursement Amount 62 527,077.50
Amberwood
Unit Phase No. of Check No.
Scho Migation Check Date
Lots
Models 33,483.75 1073 08/15/05
Phase 1 229.522.50 1077 08/15/05
Phase 2 273.753.75 1171 10/26/05
Phase 3 20 253,318.75 1163 10/26/05
Phase 4 55,372.80 1158 10/26/05
Eligible Reimbursement Amount 71 845,451.55
TOTAL 133 1.372,529.05.
-
PAYOR: PCC-La Jol la Palms, --C
suite 240
19417425-0520
Vendor: CALEXOZ CALEXICO UNIFIED SCHOOL Check Date: 08/15/2005 Check: 106 Invoice Invoice Date Refarance Amount Retention Discount 072105A 07/21/2005 Net Amount
School fees - Somerset Hodel: 16320,00 .00 .0D 16320.00 95045 0230 School Feed 16320.00
-•••
Totals 16320.00 .00 -00 16320.00
PAYOR: POSe in treat Suite 240
Irvine, cA 92614
(949) 428-8528
Vendor: CALEXOR CALEXICO UNIFIED SCHOOL 1068
Invoice Invoice Date Reference check bare: 0152000g Amount Discount Checker Amount 07/21/2005 School faes - Somerset Models 16320-00 •00 16320,00 95045 0230 School FeesPC 155000 10016320.00
Totals 16320.00 .00 •DO 16320.00
outhwest Comnunity Bar Check Number: 1068
401 E. Katel
Am4 244-C7 02806 90-4260 / 1222
Check Date Amount
0B/15/2005 ****$16,320.00™
*SIXTEEN THOUSAND*
*THREE HUNDRED TWENTY DOLLARS EXACTLY*:
Pay to the order of:
EATRICO UNIFIED SCHOOL,
PAYOR: PCC-La Jolla Palms," LLC
suite 240
19 2 3204%
e.
Check Date: 08/15/2005 Check: 108
Reference Retention Discount Net Amount
0B0905A School faos 155591.25 .00 ,00 155591.25
95045 0230 School Fees 155000 1 155591.25
Totals 155591.25 .00 155591.25
Irvine
(949) 428-8526
Vendor: CALEX02 Check Date: 0B/15/20D5 1080
Invoice Reference Amount
08/09/2005 School Foes 155591.25 Retent op
95045 0230 School Fees PC 1550001. .155591.25 155591.25 Totals 155591,25 .00 .00 155591.25
•
PCC-La Jolla Palms, LLC Southwest Communily Bank Check Number: 1080 2401 E. Karella
30042 954, Sunt 240° Anahelm, CA 92800 90-4260 / 1222
714) 244-3970
Check Date Amount
08/15/2005 ***$155,591.25*
**ONE HUNDRED FIFTY-FIVE THOUSAND**
**FIVE HUNDRED NINETY-ONE DOLLARS AND 25 CENTS**
Pay to the order of:
CALEXICO UNIFIED SCHOOL
DISTRICT
...T
Sulte 240
0 07 42-9594
Vendor: CALEXOZ, CALEXICO UNIFIED SCHOOL Check: 116
Invoice Invoice Date Reference C : 1026205
101405A Retention Discount Net Ampunt
95045 D230 10/14/200l Feenerset Phase 5000 0l Feas, .00 183487.50 School Fees 183487.50
......--um
Totals 1834B7.50 .00 .00 183487,50
PAYOR: 2E ain treet, Suite 240
92614
Check Date: 10/26/2005 Discounchecket 1167
Reference Amount Net Amount
1a34B7,50 Retention
School Fees 183487.50
Totals 183487.50 $00 -0D 103487.50
'CC-La Jolla Palms, LLC Southwest Communtly Bank Check Number: 1167 2401 B. Katella
Anaticim, CA 9280G 90-4260 / 1222
(714) 244-3970
Check Dare Amount
10/26/2005 ***$183,487.50*
**ONE HUNDRED EIGHTY-THREE THOUSAND**
**FOUR HUNDRED EIGHTY-SEVEN DOLLARS AND 50 CENTS**
Pay lo the order of:
SASTRICO UNIFIED SCHOOL
01 ANDRADE AVE
ALEXICO CA 9223
Prane, D
949) 428-852
Check Date: 10/26/2005 Check: heiscount 16
invoice Reference Amount Net Amour
101105฿ 10/11/2005 171678.75 Rotentio
171678.7:
95045 0230 171678.75
Totals 171678.75 .00 171678.75
PAYOR: RoSe in Seat, sulta 240
194134200525 92614
Check Date: 10/26/2005 1169
Refrence Amount Retention Net Anount
0/1/20 east a 3 30o re 171678-73, 171678.75 -DO 171678.75 95045 0230
....
Totals 171678.75 .00 .00 171678.75
500 E. Communiy Bank Check Number: 1169
(949) 428-8928 (7924-3702806 90-4260 / 1222
Check Date Amount
10/26/2005 wN*$171,678.75*
**ONE HUNDRED SEVENTY-ONE THOUSAND**
**SIX HUNDRED SEVENTY-EIGHT DOLLARS AND 75 CENTS**
Pay to the order of:
CALEXICO UNIFIED SCHOOL
ISTRICT
901 ANDRADE AVE
CALEXICO CA 9223
PATOR IN Me a SEe Suite 240
Irvine,
• (949) 428-8528
Vendor: CALEXO2 CALEXICO UNIFIED SCHOOL Check Date: 08/15/2005 Chock: 107 invoice Invoice Date Reference Amount Het Amount
072105 07/21/2005 School fees, Amberwood Models Retent lon 33483.75 334B3.75
School Fees 33483.75
Totals 33483.75 .0D 33483.75
PAYOR: PCC-La Jolla Palms, LLC
2030 Main Straat, Suite 240
Vendor: CALEXOZ CALEXICO UNIFIED SCHOOL Check Date: 0B/15/2005 1073 Invoice Invoice Date Reference Amount Retention Diacount Not Amount 2104 023007/2/200l Shool fan, And Made la D7/21/2005 33483.75 .0D 33483.75 * 33483.7:
Totals 33483.75 .00 -OB 33483.75
PCC-La Jolla Palms, LLC Sauthwest Cummunity Bank Check Number: 1073 2401 E. Katella
Anaheim, CA 92800 90-4260 / 1222
(714) 244-3970
Check Date Amount
08/15/2005 ****533,483.75*
**THIRTY-THREE THOUSAND**
**FOUR HUNDRED EIGHTY-THREE DOLLARS AND 75 CENTS**
Pay to the order of:
CALEXICO UNIFIED SCHOOL.
DISTRICT
201 ANDRADE AVE.
CALEXICO CA 92231
PAYOR: PCC-La Jol la Palma,"
ZoVie, CA 9261, Sulte 240
Irvine, cA
' (949) 428-8521
Vendor: CALEXOZ CALEXICO UNIFIED SCHOOL Chock Date: 0B/15/2005 Check: 107 Invoice Invoice Date Referance Amount Discount Net Anount 080905 08/09/2005 School Fees 229522.50 Retention 229522:50 95045 0230 School Fees 155000 1 …00
PC 229522.50
Totals 229522.50 -00 -0D 229522.50
PAYOR PO Han Street Ste sufte 240
rvine, i 92614
249) 428-852
Vendor: CALEXO2 Check Date: 08/15/2005 1077
180905 Reference Amount Dracon eter Net Amount
229522.50 Retention
229522,5D
95045 0230 Bhool Fog PC 150001... 22522.5035
Totals 229522.50 .00 .00 229522.50
PCC-La Jolla Palms, LLC Snuthwesi Communily Bank Check Number: 1077 Zone, CA SizE, Suite 240 90-4260
/ 1222
Check Date Amount
08/15/2005 ***$229,522,50*
**TWO HUNDRED TWENTY-NINE THOUSAND**
**FIVE HUNDRED TWENTY-TWO DOLLARS AND 50 CENTS**
Pay to the order of:
ALEXICO UNIFIED SCHOO
STRIC
0L ANDRADE AVE
ALEXICO CA 9223
PATOR POO Main are, site 240 030 Moin Street
rvine. CA 92614
949) 420-8521
vendor: CALEX02 CALEXICO UNIFIED SCHOOL Check Date: 10/26/2005 Chock:
Invoice Date Reference notion '' Net Anount
101405 273753,75 Retent lon
95046 273753.75
155000 1
Totals 273753.75 -100 273753-75
PAYOR: PCC-La Jollt palms ite 240
EAST 428-6920
CALEXICO UNIFIED SNOO Check Date: 10/26/2005 Check: 1171 invoice Dat Reference. Amount Retention Net Amount
101405 10/14/2005 273753.75 .00 273753,75
23054 0230. 016/2005 embermod phant 200 101 273753.7
Totals 273753.75 .00 …OD 273753.75
PCC-La Jolla Palms, LLC Soahwest Community Bank Check Number: 1171 2401 E. Katella
200 a 61, it 210 Analıeim, CA 92800 90-4260 / 1222
(714) 244-3970
Check Date Amount
10/26/2005 ***$273,753.75*
**TWO HUNDRED SEVENTY-THREE THOUSAND**
**SEVEN HUNDRED FIFTY-THREE DOLLARS AND 75 CENTS**
Pay to the order of:
CALEXICO UNIFIED SCHOOL
DISTRICT
01 ANDRADE AVE
CALEXICO CA 9223
PAIDR: PCE-La Jolla Palms.
Irvine, suite 240.
rvine
949) 42B-852
Vendor: CALEXOZ CALEXICO UNIFIED SCHOOL Check Date: 10/26/2005 Chack: 116 Invoice Invoice Date Amount Retention Discount Het Amount 101105A 1D/11/2005 252318,75 …OD -OD 252318,75
95046 0230 School Fees 252318.75
--..
Totals 252318.75 -00 •DO 252310.75
19490426-26
erdor: CALEXOZ Check Date: 10/26/2005 1163
Refarence Amount Retention Drisco Cheti Nat Amount
252318.75 .00 252318.75
Totals 252318.75 .00 -00 252318.75
PCC-La Jolla Palms, LLC 5401 5. Katemanly Bank Check Number: 1163 100 2 320, S0 210 (Ta) 24 SA 02806 90-4260 / 1222
Check Date Amount
10/26/2005 ***$252,318.75*
**TWO HUNDRED FIFTY-TWO THOUSAND**
**THREE HUNDRED EIGHTEEN DOLLARS AND 75 CENTS*»
Pay to the order of:
CALEXICO UNIFIED SCHOOL
DISTRICT
1 8
2030 Main Strect
949) 428-952
Vendor: CALEXOZ CALEXICO UNIFIED SCHOOL Check Date: 10/26/2005 Check: 115 Invoice Invaice Date Reference Retention
Amount Discount Net Amount
10/11/2005 cemberwood Phases host Fees 55372,80 …DO .00 55372.80 95046 0230 55372.80
Totals 55372.80 -OD .00 55372.80.
Irvine, CA
(949) 428-8528
Check Date: 10/26/2005 Check: 1158
Invaice Date Reference Amount Discaunt Net Amount
• 930% 0230 1011/200 faRmer preschool Feel 10/11/2005 55372.B0 Retention .0O 55372,00
• 55372:81
Totals 55372.80 .00 55372.60
PCC-La Jolla Palms, LLC Southwest Communky Bank Check Number: 1158 401 B, Katell
160 3 0321, e210 (14 2A. CA 02806 90-4260 / 1222
Check Date Amount
10/26/2005 ****$55,372.80*
**FIFTY-FIVE THOUSAND**
**THREE HUNDRED SEVENTY-IWO DOLLARS AND 80 CENTS**
Pay to the order of:
CALEXICO UNIFIED SCHOOL
DISTRICT
ATTACHMENT 3
usbank
Fire Star Service Guaranted 62) AA - 182-01449-0 109
000 47 Page 5 of 9
ACCOUNT NUMBER: 103605008
CALEXICO COMMUNTIY FACILITIES -
DISTRICT NO 2005-1 (HEARTHSTONE)
2006
SCHOOL DISTRICT
This statement is for the period from
July 1, 2007 to June 30, 2008
TRANSACTION DETAIL (continued)
Date Income Principal Investments
Posted Description Cash Cash At Cost
09/10/07 urchased 153,694.85 Units O - 153,694.85 153,694.85 First Amer Treas Oblig Fd Cl D Trade Date 9/10/0
CUSIP: 31846V302
10/02/07 Interest Earned On 366.62
First Amer Treas Oblig Fd Cl D Interest From 9/1/07 To
9/30/07
CUSIP: 31846V302
10/02/07 Cash Disbursement Transfer To Principal - 366.62 Income Earnings
10/02/07 Cash Receipt 366.62
Transfer From Income Income Earnings
10/02/07 Purchased 366.62 Units Of - 366.62 366,62
First Amer Treas Oblig Fd Cl D Trade Date 10/2/07
CUSIP: 31846V302
11/01/07 Interest Earned On 539.72
First Amer Treas Oblig Fd Cl D Interest From 10/1/07 To 10/31/07
CUSIP: 31846V302
11/02/07 Cash Disbursement Transfer To Principal - 539.72 Income Earnings
11/02/07 Cash Receipt 539.72
Transfer From Income Income Earnings
11/02/07 Purchased 539.72 Units Of - 539.72 539.72
First Amer Treas Oblig Fd Cl D Trade Date 11/2/07
CUSIP: 31846V302
11/13/07 Cash Disbursement Paid To B - 2,000,000.00
Vire Transfer Req. #3; Exhibit B & Exhibit C School Fee or Sf/Du Vch276:
11/13/07 Sold 2,000,000 Units Of 2,000,000.00 - 2,000,000.00 First Amer Treas Oblig Fd Cl D Trade Date 11/13/07
CUSIP: 31846V302
11/13/07 1,845,396.25 - 1,845,396.25
SiS 5% 90108 Trade Date 11/8/07 Sold
Through Direct From Issuer 1,845,396.25 Dollars At 100
CUSIP: 9AMGGA878
11/13/07 urchased 1,845,396.25 Units O1 - 1,845,396.25 1,845,396.25 irst Amer Treas Oblig Fd Cl D Trade Date 11/13/0
CUSIP: 31846V302
12/03/07 Irst Amer Treas Oblig Fa Cl D interest From 11/07 To 186.76 11/30/07
CUSIP: 31846V302
608 Heber Avenue
Calexico, CA 92231
CITY OF CALEXICO Tel: 760.768.2110
Fax: 760.768.2103
www.calexico.ca.gov
EXHIBIT B
FORM OF REQUISITION FOR DISBURSEMENT OF PROJECT COSTS
COMMUNITY TACILITIES DISTRICT No. 2005-1
OF THE CITY OF CALEXICO
(HEARTHSTONE)
U.S. Bank National Association, Trustee, is hereby requested to pay from the Project Account/City Account/School District Account of the Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone) Acquisition and Construction Fund, established by the Bond Indonture between the Trustee and Community Facilities District No. 2005-1 of the City of Calexico (Fleartstone) for the District, dated as of July 1, 2006, the amount specified and to the payce named below for payment of the Project Costs set forth in Attachment No. 1 hereto.
Wiring Instructions"."
Account: Imperial County Treasurer
Bank Name: Union Bank of California ABA No.1 Branch: El Centro, CA Account Number: C _Amount: $2,000,000
Purpose: Construction Fund
The amount is duc and payable under purchase order, contract or other authorization and has not formed the basis of any prior request for payment. The conditions for the release of this amount from the of Community Facilities District No. 2005-1 of the City of Calexico (Hcartstone) Acquisition and Construction Fund, including those conditions in Section 3.9(b) of the Indenture have been satisfied.
Dated: 11-08:07 COMMUNITY FACILITIES DISTRICT NO.2005-1
OF THE CITY OF CALEXICO (HEARTSTONE)
Raepe
By:
Authorized Representative
B-1
Via Calexico!
EXHIBIT "C"
DISBURSEMENT REQUEST FORM
Community Facilities District No. 2005-1 of the City of Calexico ("CFD No. 2005-1) is hereby requested to pay from the School Fee Fund, or any applicable account or subaccount thereof, established by CPD No. 2005-I in connection with its Special Tax Bonds ‹the "Bonds'") to Calexico Unified School District (CUSD"), as payee, the sum set forth below:
$2,000,000.00 (the "Requested Amount"')
The Requestod Amount represents the payment of School Fees for SF/DU's or lots of the Project within the boundaries of CFD No. 2005-1 (the "Property").
3. The Requested Amount is due and payable, has not formed the basis of any prior request or disbursement and is being made with respect to the mitigation of the school impacts of the Project on the CUSD school system.
"The Requested Aimount is authorized and payable pursuant to the terms of that certain Joint Community facilitics Agreement, dated as of September 8, 2005, by and among Calexico Unified School District ("the "School District"), PCC - La Jolla Palms, LL.C, a California limited liability company ("Properly Owner") and City of Calexico ("'City") (collectively the "JCFA").
CUSD acknowledges its reporting obligations pursuant to section 4.1 of the JCFA.
Capitalized undefined terins used herein shall have the meanings ascribed to them in the JCFA.
Date: 11/1/07 CALEXICO UNIFIED SCHOOL DISTRICT
By: Viria Aull
Print Name: Vivia Arellano
Title: Business Manager
PCC-LA JOLLA _PALMS, LLC, a California
Limited liability company
By: 10/24/07
Print Name:_ _E. Todd Bosa
Title: Authorized Agent
11/13/2007 Transaction Detail Page 1 of 1
Batch ID: 2243690 Batch Status: Awalting Approval
Account Nbr: Acct Status: Active
Account Name: CALEXICO 2005-1 HEARTHST 06 SCH DIST
Income: $.00
Principal: $2,000,000.00
Disb Code: 454 - Wire Transfer
TOE Needed: TOE Sent:
TOE CUSIP:
VCH2765
REQ. #3; EXHIBIT B & EXHIBIT C
Disb Expl3: SCHOOL FEES FOR SF/DU
Disb Expl4. VCH2765
Disb Expls:
ABA Number:
BNF Account:
BBK:
eneficlary1 IMPERIAL COUNTY TREASURER
eneficlary: EL CENTRO CA
OBI: CONSTRUCTION FUND
ORG: IMPERIAL COUNTY TREASURER
OR2: EL CENTRO CA
Submit Date: 11/13/2007 15:19:33 Submiller: Hunter, VC
pprove Date Approver:
ent Date
SEI Batch:
Ei Dish Tran:
SEI. Disb,Relumn:
ODT Disb Tran: 0
ODT Disb Return:
ODT Disb Status: (
Validated by:.
Sceurily Procedure
Repetitive Standing - 85
Wire
If Call Back:
USB Signature_
• -
• F COUNTY OF
IMPERIAL, CALIFORNIA
DEPOSIT PERMIT
TREASURER OF THE COUNTY OF IMPERIAL, WILL, RECEIVE
TwoMillionSeventyEightThousandFiveHundredForty and 48/100 $2,078,540.48 DOLLARS $
Department Name
Imperial County Treasurer
ORGANIZATION OBJECT
KEY CODE DESCRIPTION AMOUNT
7178000 301000 Interest Earned Pooled Money 6,571.43
(4-062907A*423-12)(4-081007*443-23)(4-080607*1328.25)
(4-120706"445.64)(4-110806*465-82)(4-0212073*458.63)
(4-101207420.41)(4-041607*406.85)(4-020907 441.43)
(4-021207"434-77)(4-020707*428.82)(4-120406A*445-64)
(4-010807A*428.82)
cd.Int $ 6571.43
203000 301000 Child Support St. Warr 11,488.32
7203000 301000 Child Support St. Warr 12,259.13
7145000 301000 Coust-Gests St. Warr 33,064-00
1054001 443000 Dept. of Veterans Affairs Wire 14,162.00 1047001 437000 Social Services Wire 286.00-
1047001 437000 Social Services Wire 110.60
5523000 301000 15: 80475 Dept of Education Wire 2,000,000.00.
Phyllis L.Johnson DO $2,078,540.48 /
SWEAR OR AFFIRM THAT THE AMOUNTS OF MONEY CURRENCY S. TOTAL SHØWN ON THIS DEPOSIT PERMIT ARE AMOUNTS
PAYABLE INTO THE COUNTY TREASURY FOR CHECKS S.
ACCOUNTS ASSTATED. 1, DOUGLASS RENLAND, AUDITOR AND
CONTROLLER, CERTIFY THE ACCOUNT
DISTRIBUTION OF THE FORGOING DEPOSIT
IGNATUR TITLE PERMIT TO BE, WITHIN MY KNOWLEDGE, TRUE
SUBSCRIBED AND SWORN TO IN MY PRESENCE AND CORRECT.
DOUGLAS R. NEWLAND
111402 FOR AUDITOR-CONTROLLER'S USE ONLY
LatE
DEPOSIT
No
By PERMIT No.
SIGNATURE Deputy
TITLE
111402
DATE 31296
Detail Transaction Report
11/06/2007 Through 11/21/2007
Trans. Date Description Check # Reference.-- FYSSys- Debit Credit Net Balance 11/14/2007 DEPT OF EDUCATION C7TDB14 31296 2008 CR 0.00 2,000,000.00
User: DOWNT Page: Current Date: 11/26/2007
Report: DN_GLDetail_SA Current Time: 12:06:09
15-Calexico Unified School District General Ledger Report 9/1/2026 2:36:54 PM 250-Capital Facilities Fund
Date Reference Description Vendor Invoice No. Document No. Account Amount 8681-Mitigation/Developer Fees
11/14/2007 CR-080475 Wire Transfer 250-0000-0-0000-0000-8581-17-0000 2,000,000.00 Object total: 2,000,000.00
Fund total: 2,000,000.00
IMPERIAL COUNTY OFFICE OF EDUCATION
STATEMENT OF DEPOSIT MADE TO COUNTY TREASURER
CASH RECEIPT NO
AIR# 31296 TOTAL REMITTANCE $_ 2,000,000.00
DISTRICT 15
DISTRICT NAME Calexico Unified PAGE 1 of1
DATE 1 1714/071
FUND RESOURCE PROJICT GOAL PUNCTION OBJECT SITE LOCAL AMOUNT DESCRIPTION
YEAR FIELD
31 20/9803
1 250 0000 0000 e86811 17 2000,000.00* Wire Transfer a
14 16
17 20
11/26/2007 3:14 PM
ATTACHMENT 4
8130190-00-01439-51 253520 Page 6 073
usbank.
ive Star Service Guaranteed G
DISTRICT NO 2005-1 (HEARTHSTONE)
2006
SCHOOL DISTRICT
This 1,2t00 lo June 0, Briod from
TRANSACTION DETAIL (continued)
Date Princes
Posted Description
10/01/08 Interest Earned On 2,264.09
First Amer Treas Oblig Fd CID
Interest From 9/1/08 To 9/30/08
31846V302
10/02/08 Cash Disbursement - 2,264.09
Transfer To Principal
Income Earnings
10/02/08 Cash Receipt 2,264.09
Transfer From Income
Income Earnings
10/22/08 Cash Disbursement - 3,540,459.54
Paid To Ba
Wire Transfer
Vch2765
Req. #4; Exhibit B & Exhibit C
School Fees For Sf/Du
Vch2765
11/03/08 Interest Earned On 87.13
First Amer Treas Oblig Fd CI D
nterest From 10/1/08 To 10/31/08
1846V302
11/04/08 - 87.13
11/04/08 Cash Receipt 87.13
ransfer From Incom
come Earning
12/01/08 Interest Earned On 0.12
12/02/08 Cash Disbursement - 0.12
ransfer To Principa
Income Earnings
12/02/08 Cash Receipt 0.12
Transfer From Income
Income Earnings
01/02/09 Interest Earned On 0.10
First Amer Prime Oblig Fund CI D
Interest From 12/1/08 To 12/31/08
01/05/09 Cash Disbursement - 0.10
Transfer To Principal
Income Earnings
01/05/09 Cash Receipt 0.10
Transfer From Income
Income Earnings
• OCT-22-2008 11:21A FROM: FINANCE DEPT 7607682125 TO: 912136156198 P.2 =
508 Heber Avenue
Calexico, CA 92231
CITY OF CALEXICO Tel: 760.76B.2110
Fax: 760.768.2103
www.calexico.ca.gov
EXHIBIT B
FORM OF REQUISITION FOR DISBURSEMENT OF PROJECT COSTS :
COMMUNITY FACILITIES DISTRICT No. 2005-1
OF THE CITY OF CALEXICO
(HEARTHSTONE)
U.S. Bank National Association, Trustee, is hereby requested to pay from the Project Account/City Account/School District Account of the Community Facilities District No. 2005-1 of the City of Calexico (Hearthstone) Acquisition and Construction Fund, established by the Bond Indenture between the Trustee and Community Facilities District No. 2005-1 of the City of Calexico (Heartstone) for the District, dated as of July I, 2006, the amount specified and to the payee named below for payment of the Project Costs set forth in Attachment No. I hereto. •Wiring Instructions
Account: Imperial County Treasurer
Bank Name: Union Bank of California ABA No.: | Branch: El Centra, CA Account Number: _Amount: $3,540,459.54
Purpose: Construction Fund
The amount is due and payable under purchase order, contract or other authorization and has not tormed the basis of any prior request for payment. The conditions for the release of this amount from the of Community Facilities District No. 2005-i of the City of Calexico (Heartstone) Acquisition and Construction Fund, including those conditions in Section 3.9(b) of the Indenture have been satisfied There has not been filed with nor served upon the District notice of any lien, right to lien or attachment upon, or stop notice or claim affecting the right to reccive payment of the amount specified above which has not been reled will not be released simultaneously with the payment of such amount, other than materialmen's or mechanic's lien accruing by mere operation of law Dated: 10-21-08 COMMUNITY FACILITIES DISTRICT NO.2005-1
OF THE CITY OF CALEXICO (HEARTSTONE)
By: deep
Authorized Representative
Via Calexico!
•OCT-27-2008 11: 21A FROM: FINANCE DEPT 7607682125 TO: 912136156198 P.3 •
EXHIBIT "C
DISBURSEMENT REQUEST FORM
2005-19 in berety roqued to pay from the Sebool Fee Pand, an amy applicable pocount or Commity Facilitien District No. 2005-1 of the City of Calestic GOPD Wo. eubacoount thereaf, established by CRD No. 2005-1 i connection with in Spectil Tax Borde (he "Bode") to Calatico Uhalfied School Dietric ("CUSD), ae payne, thei num ael fagdi beloner. $ 3,540, 459.56 (the "Requested Atmoul")
hun Roquested Arout reprosanta the paytoeat of Schoal Reen for St/DUra c ot of the Projoct witam the boundaries of CRD No. 2005- (me Property the Project on the CUSD Sabool rystam.
The sequented Amount in artboriod and payable punes to the teams of the tain Jont Comraity Facilitics Agreement, dated of September Bo 2005, by an ming Calace Urified School Dinkrist (the Sahnal District), PCO - La Jolla Palme, LIC, B Califomit limited lisbillity company ("Property Orna") and City of Calexion ("City") (collectively the "ICTA).
CUSD closovalodges its reportine obligationa prenammal to sections d.1 of uhro JCFA
Capitatived undatined tame used herein hall have the suanings recribed to them in the JCFA.
Data October 2ho 200R CALLXICO UNITED ECHOOL DISTRICT
By:. Maa
Prol Name: Vivia Arellano
Title: Business Manager
301173-000
-13-
... •
10/22/2008 Transaction Detail
Batch ID: 2939696 Type: Wires Batch Status: Awaiting Approval Account Nbr: Acct Status: Active
Account Name: CALEXICO 2005-1 HEARTHST 06 SCH DIST
Income:
Principal: 254-0.45- Transfer
Disb Code:
TOE Needed: TOE Sent:
TOE CUSIP:
Disb Expl1: VCH2765
Disb Expiz: REQ. #4; EXHIBIT B & EXHIBIT C
Dish Expl3: SCHOOL FEES FOR SF/DU
Dish Expl4: VCH2765
Disb Expis:
28K: Reg /Dust File
IMPERIAL COUNTY TREASURER
EL CENTRO CA
OBI: CONSTRUCTION FUND
ORG: MPERIAL COUNTY TREASUREF
OR2: EL CENTRO CA
submit Date 10/22/2008 13:18:17 Submitter: Hunter, V (
pprove Dale Approver
Sent Date:
El Batc
l Disb Tran
...SEI Disb Return: *
ODT Disb Tran: C
ODT Disb Retumn:
ODT Dish Status: C
Valicated by:_
Socurity Procedure
Repetitive/ 82
Wire W
If Call Back:
Person Called
Date and Time
USB Signature,
• COUNTY OF
IMPERIAL, CALIFORNIA
DEPOSIT PERMIT
TREASURER OF THE COUNTY OF IMPERIAI. WILL RECEIVE
*Six Million Five Hundred Sixty One Thousand One Hundred Sixty & 17/300's*******
DOLLARS
Department Name
IMPERIAL COUNTY TREASURER
ORGIANIZATION
KEY CODE DESCRIPTION AMOUNT
7178000 301000 Interest Earned Pooled Money $1,459.94
CD Interest $1,459.94
(4-052708*8244.40)(4-042608°8243.16)(4-052008$280.73)
(4-092408°8305.14)(4-121907"$386.51)
7145000 301000 Relmbursement of Program Costs • Court Costs State Warr $31,118.00 7145000 301000 Realignment Wire 18,683.54.
7145000 301000 Realignment Wire 33,062.45.
7145000 301000 Realignment Wire 44,855.19
7145000 301000 Realignment Wire 121,769.91.
7145000 301000 Realignment Wire 134,338.59
7145000 301000 Realignment Wire 172,515-45
7145000 301000 Realignment Wire 746,715.29
1000001 432000 1/2 cent Sales Tax - Public Safety Wire 816,181.27 1788000 301000 AACLP Litigation Wire 900,000.00
5523000 301000 Calexico Unified Schools - Construction Fund Wire 3,540,459.54
15.45363
Suzanne Bermudez
DO
0.00 1230.501,100.171
SWEAR OR AFFIRMTHAT THE AMOUNTS OF MONEY CURRENCY S TOTAL .. SHOWN ON THIS DEPOSIT PERMIT ARE AMOUNTS
PAYABLE INTO THE COUNTY TREASURY FOR CHECKS S. 32,677.94 ACCOLNTS AS STATED I, DOUGLAS R. NEWLAND, AUDITOR AND
CONTROLLER, CERTIFY THE ACCOUNT
Fin Mer. DISTRIBUTION OF THE FORGOING DEPOSIT
SIGNATUE TITLE PERVIT TO BE, WITHIN MY KNOWLEDGE, TRUE
SUBSCRIBED AND SWORN TO IN MY PRESENCE AND CORRECT.
DOUGLAS R. NEWLAND
017808 FOR AUDITOR-CONTROLLER'S USE ONLY
DEPOSIT
By. PERMIT No.
SIGNATURE
10|28 08 08 36712
DATE
TREASURER'S REGISTER - ORIGINAL.
Detail Transaction Report
10/23/2008 Through 10/31/2008
Trans. Date Description Check # Batch ID Reference FYSSYs Debit Net Balance 10/28/2008 CALEXICO UNIFIED SCHOOLS CON CSTDA2: 36712 2009 CR 0.00 3,540,459.54 User: DOWNT tage N Current Date: 11/04/2008
Report: DN_OLDetail_SA Current Time: 13:48:58
15-Calexico Unified School District General Ledger Report 9/1/2026 2:43:04 PM 250-Capital Facilities Fund
Date Reference Description Vendor Invoice No. Account Amount 8681-Mitigation/Developer Fees
10/28/2008 CR-090363 MELLON-CONSTR NY BNK 250-0000-0-0000-0000-8681-17-0000 3,540,459.54 Object total: 3,540,459.54
Fund total: 3,540,459.54
•
(R# 90363
IMPIRIAL COUNTY OFFICE OF EDUCATION
STATEMENT OF DEPOSIT MADE TO COUNTY TREASURER
¡CASHIRECEPTINO:
AR# 3672 TOTAL REMITTANCES
3,540,459.54
DISTRICT# 15
DISTRICT NAME Calexico Untfled PAGE 1of1
DATE 10/28/08
FUND TrUNCTION! smi LOCAL AMOUNT DEICRIPTION
YEAR FIELD
1 250 0000: 0000 0000 8681 17 0000 8540459.54 Mellon-Construction Fund 2 10
14 15
16 17
19 20
Prepared by:
10/30/20083:17 PM