City Council Agenda
Memo to:
Manteca City Council
From:
Matthew Boring, Finance Director
Prepared by:
Melissa Munoz, Interim Assistant Finance Director
Date:
April 7, 2026
Subject:
Issuance of Special Tax Bonds for and on behalf of the City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services)
Recommendation:
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Adopt a Resolution authorizing the issuance of Special Tax Bonds for and on behalf of the City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services); approving and directing the execution of a Fiscal Agent Agreement and Bond Purchase Agreement; approving the form of Preliminary Official Statement; approving sale of such bonds; and approving other related documents and actions.
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Background:
The City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services) (the "District") was formed and established by the City on September 2, 2025, following a public hearing by the City Council, as legislative body of the District, and a landowner election which authorized the incurrence of bonded indebtedness in an aggregate principal amount of not to exceed $7,000,000 and approved the levy of special taxes.
The City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services) Special Tax Bonds, Series 2026 (the "Bonds") will be issued to finance a portion of costs of acquiring and constructing certain public infrastructure improvements necessary for development in the District, such as roadway, storm drain, water, sewer, and park improvements associated with the project and to fund a debt service reserve fund, capitalized interest, and costs of issuance.
The Bonds will have a 31-year term with a total estimated principal amount of approximately $5,805,000 and an initial debt service payment of approximately $294,500, increasing over time to approximately $541,394 in the final Bond Year. A Capitalized Interest Fund ...
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