Lincoln annual

Lincoln Annual Reports for Fiscal Year 2021-22

In this post, CivicMic shares the City of Lincon's (the "City") annual reports for Foskett Ranch Reassessment District No. 2017-1, Lakeside Community Facilities District No. 2006-1, Lincoln Airpark Community Facilities District No. 1998-1, Lincoln Crossing Community Facilities District No. 2003-1, and Twelve Bridges Assessment District No. 1995-1.  The annual charges in these reports include the funding of certain infrastructural and drainage improvements and fire department services.

Foskett Ranch Reassessment District No. 2017-1

The City formed Foskett Ranch Assessment District No. 2004-3 ("Prior District") and issued bonds to fund the acquisition of various improvements within its boundaries. The improvements were completed and the levy of the assessment was planned to continue until all bonds issued for the improvements were paid. Subsequently, on May 23, 2017, the City Council adopted Resolution No. 2017-114 to refund the outstanding bonds with the Foskett Ranch Reassessment District No. 2017-1 (the “District”) and to levy reassessments on the property within the District as security for the refunded bonds. The District is scheduled to be levied through the Fiscal Year 2033/34 with the final debt service payment on September 2. 2034.

The Fiscal Year 2021/22 special assessment levy for the District consisted of 238 parcels for a total of $252,732.20.

As part of the refunding of the refunded bonds, all funds were fully funded with proceeds from the reassessment bonds.

As of June 30, 2021, the improvements are complete in the District, and the improvement fund is closed. Following the September 2021 debt service payment along with six months’ worth of estimated administrative expenses, a surplus of approximately $33,600 is projected for the redemption fund. The balance as of June 30, 2021, is $234,899.49, which is being held as cash at the City. 

Lakeside Community Facilities District No. 2006-1

The City formed Community Facilities District No. 2006-1 on November 28, 2006, and then issued two improvement areas including Improvement Area No.1 and Improvement Area No. 2. The City issued Series 17 Special Tax Bonds to fund improvements that included but were not limited to, storm drain facilities, wastewater treatment and transmission facilities, water supply, storage and transmission facilities, and other miscellaneous public facilities and appurtenances needed to serve the area.

The Fiscal Year 2021/2 special tax levy for Improvement Area No. 1 consisted of 149 parcels for a total of $360,961.44. The Fiscal Year 2021/22 special tax levy for Improvement Area No. 2 consisted of 256 parcels for a total of $505,694.80. The levy for both Improvement Areas 1 & 2 totals $866,656.24.

Lincoln Airpark Community Facilities District No. 1998-1

The City formed the Lincoln Airpark Community Facilities District No. 1998-1 on December 1, 1998, and issued Special Tax Bonds, Series 1998 (the “Bonds”) to provide funds to acquire certain roadway and drainage public improvements and the purchase of a conservation easement for purposes of wetland preservation.  The improvements and acquisition are complete and the levy upon taxable parcels within the District will continue until all outstanding bonds have been paid. The Bonds are scheduled to mature with the final debt service payment on October 1, 2023. 

The Fiscal Year 2021/22 levy was placed on 464 parcels for a total of $99,995.32. This includes a levy credit of $173,950.90, which was allocated based on the parcel’s building square footage as prescribed in the Rate and Method of apportionment. All developed parcels within the District were levied at 31.67% of their respective maximum special tax for Fiscal Year 2021/22.

Lincoln Crossing Community Facilities District No. 2003-1

The City formed Community Facilities District No. 2003-1 on May 13, 2003. The City issued the City of Lincoln Special Tax Bonds, Series 2003A and the Special Tax Bonds, Series
2004 (the “Prior Bonds”) to fund certain improvements within the District. The improvements included but were not limited to, wastewater improvements, water improvements, roadway improvements, and bridge improvements.

The Fiscal Year 2021/22 special tax levy consisted of 2,660 parcels for a total of $6,299,971.98. Additionally, 130 parcels classified as “Final Map” were not levied.

Twelve Bridges Assessment District No. 1995-1

The City formed Twelve Bridges Assessment District No. 1995-1 and issued bonds in two series (“Series 1999 Bonds” and “Series 2001 Bonds”, collectively the “Local Obligations”) to provide funds to construct and acquire certain public improvements, such as but not limited to, highway improvements, water improvements, sewage improvements, a new fire station, and a portion of improvements to the Lincoln Parkway.

The Fiscal Year 2021/22 levy consisted of 7,148 parcels for a total levy of $2,948,073.90 for the Series 1999 Bonds and 5708 parcels for a total levy of $1,169,812.84 for the Series 2001 Bonds

Lincoln Annual Reports

The Lincoln annual reports for the current and prior years, Council Resolutions approving the Districts and authorizing the issuance of bonds, and other supporting documents can be found in our Data Center.

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