1/14/2022
DESERT RECREATION DISTRICT
COMMUNITY FACILITIES DISTRICT NO. 2022-1
(CATHEDRAL CITY PARKS & RECREATION)
CFD FORMATION SCHEDULE
District Board Meets 2nd & 4th Wednesday at 6:00pm
Estimated Timeframe Scheduled Tasks
CFD Formation
30-60 days
NHA Advisors distributes project schedule and works with NBS on funding options and special tax allocation. NBS distributes draft Boundary Map, Rate and Method of Apportionment for review. District Legal Counsel distributes draft Local Goals & Policies, Resolution of Intention for review.
Comments due on all documents distributed to date
Agenda Deadline – Final Resolution Adopting Local Goals & Policies, Resolution of Intention, including Boundary Map and Rate and Method of Apportionment due for Intent Meeting. Can stop here before Intent Meeting
Public Hearing must be not
less than 30 or more than 60
days after Intent Meeting
Intent Meeting – Consider Resolution Adopting Local Goals & Policies and Resolution of Intention, including Boundary Map/Rate and Method of Apportionment and setting the date of the Public Hearing
District Clerk arranges for publication of the Hearing Notice in the local adjudicated newspaper at least 7 days prior to Public Hearing
Boundary Map must be recorded on or before this date
Agenda Deadline – Final Resolution of Formation, Resolution Calling the Election due to District Clerk
Public Hearing – City Council allows any public comments either oral or written. City Council determines whether there has been a majority protest or not, then considers Resolution of Formation and calling a Special Election Can stop here before calling election
CFD Election
Election must be not less than
90 days or more than 180
days after the Resolution of
Formation is adopted
Election – Voters consider levy of special tax, establish appropriations limit 30-45 days
Agenda Deadline – Final Resolution Declaring Results of the Election and Ordinance Levying the Special Tax due to District Clerk
Ordinance Meeting – Consider Resolution Declaring the Results of the Election and the first reading of the Ordinance Levying the Special Tax
15-30 days
Notice of Special Tax Lien recorded
Ordinance Meeting – Second Reading of Ordinance Levying the Special Tax Publication of Ordinance
CFD Bond Issuance
Approximately 2 months
NHA Advisors distributes bond issuance schedule and solicits financing team members.
District Legal Counsel distributes draft Preliminary Official Statement (“POS”). NBS prepares data for POS.
Document review
Bond pricing
Finalize official statement
Bond issuance