What is an Assessment District?

An Assessment District is a financing vehicle used by public agencies to fund the construction of public improvements or maintenance of public improvements that will directly benefit the parcels within the boundary of the district. The Improvement Act of 1911 and the Municipal Improvement Act of 1913 are the two types of Assessment Districts used to fund public improvements and the Improvement Bond Act of 1915 is used in conjunction with the previously mentioned Assessment Districts if a bond sale is required to fund the public improvements.

Rancho Cucamonga Public Finance Authority – Refunding Revenue Bonds, Series 1999-A Senior Lien Bonds (MBIA Insured) and Series-B Subordinate Lien Bonds (Uninsured). The bonds were issued in July 1999 as a refinance instrument for the following districts: Reassessment District No. 1999-1 (Assessment District 86-2 (defeased in 2006), and Assessment District 89-1), Community Facilities District 84-1 (defeased in 2004), Community Facilities District 88-2 and Community Facilities District 93-3. Each district retained its original payoff date.  The bonds for Reassessment District 1999-1 will defease in September 2012 with the final debt service payment for Assessment District 89-1 on September 1, 2012.

Assessment District 89-1 (Milliken and Jersey Industrial Park) is a 1915 Bond Act District. The special tax is levied to pay for bonds that were sold in 1992 and will expire in the year 2012. The district was formed for the construction of improvements and a storm drain south of Arrow Route, east of Vincent Avenue, west of Boston Place and north of Eighth Street. This special tax can be paid off early. This district was refinanced in 1999 as part of the Public Finance Authority Refunding Revenue Bonds Series 1999-A Senior Lien Bonds and Series 1999-B Subordinate Lien Bonds.  This special tax can be paid off early. This district will be paid off in September 2012.

To view the Assessment District 89-1R Boundary Map click here.
To view the Fiscal Year 2011/2012 resolution for Assessment District 89-1R click here.

Assessment District 93-1 (Masi Project) is a 1915 Bond Act District. The special tax is levied to pay for bonds that were sold in 1998 and will expire in the year 2022. The district was formed for the construction of improvements and a storm drain. The District is located along the south side of Foothill Boulevard and west of Rochester Avenue. This special tax can be paid off early.

To view the Assessment District 93-1 Boundary Map click here.
To view the Fiscal Year 2011/2012 resolution for Assessment District 93-1 click here.