Approval of
Issuance of
Special Tax
Bonds
Olsen-South Chandler Ranch
CFD 2022-1N – Improvement Area No. 1
Regular City Council Meeting
December 2, 2025
Background/History
• Olsen-South Chandler Ranch: 1,293
residential units
• May 2020 – Development Agreement
Approved
• August 2022 – CFD 2025-1N Formed
• CFDs impose a special tax on property
owners within the CFD boundary
through an annual special tax levy
collected on the property tax bill
• Facilities CFD Finances:
• Through the issuance of bonds, public
facilities which are needed for
development within communities,
such as streets, water and sewer
improvements, parks, schools and
flood control improvements.
Background/History
• Improvement Area No. 1 = PA 3, 11, 12, 15
• Maximum Allowable Bond Issuance: $21
million
• Appraisal: $53.7 million = $13.420 million
Series A
• Debt Limitations
• 4:1 value to lien
• 1.9% effective tax rate
• Priority facilities (vs. fees)
• No tax escalation
Next Steps
• December 4 – Release Preliminary Official
Statement to Underwriter
• December 10 – Pre-pricing Call
• December 11 – Price Bonds
• December 15 – Circulate Draft Final
Official Statement
• December 18 – Release Final Official
Statement to Underwriter
• December 18-19 – Execute Closing
Documents
• December 23 - Closing
Fiscal Impacts
Citywide = None Bond Proceeds
Deposited w City
Developer
Requests for
Reimbursement
Annual CFD Tax
Proceeds = Debt
Payments
Council
Recommendation
• Approve Resolution 25-XXX,
authorizing the execution and delivery
of bonds in connection with the
financing of public improvements
within Improvement Area No. 1;
authorizing and directing execution of
a Fiscal Agent Agreement, Bond
Purchase Agreement, and other
related documents; authorizing the
sale of the bonds through a negotiated
sale; and authorizing official actions
and execution of related documents.
Approval of Issuance of
Special Tax Bonds
Improvement Area No. 2
• Improvement Area No. 2 = PA 4, 5
• Maximum Allowable Bond Issuance: $19
million
• Appraisal: $39.599 million = $9.895 million
Series A
• Debt Limitations
• 4:1 value to lien
• 1.9% effective tax rate
• Priority facilities (vs. fees)
• No tax escalation
Council
Recommendation
• Approve Resolution 25-XXX,
authorizing the execution and delivery
of bonds in connection with the
financing of public improvements
within Improvement Area No. 2;
authorizing and directing execution of
a Fiscal Agent Agreement, Bond
Purchase Agreement, and other
related documents; authorizing the
sale of the bonds through a negotiated
sale; and authorizing official actions
and execution of related documents.