HomeMy WebLinkAboutItem No. 25 - Reassessment Dist. No. 2021-1 Canyon Hills Limited Obligation BondsCity Council Agenda Report
City of Lake Elsinore 130 South Main Street
Lake Elsinore, CA 92530
www.lake-elsinore.org
File Number: ID# 21-131
Agenda Date: 4/13/2021 Status: Approval FinalVersion: 1
File Type: Council Business
Item
In Control: City Council / Successor Agency
Agenda Number: 25)
Reassessment District No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds
(Federally Taxable)
1.Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, DECLARING ITS INTENTION TO LEVY REASSESSMENTS AND TO ISSUE
REFUNDING BONDS;
2.Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ADOPTING THE REASSESSMENT REPORT, CONFIRMING AND ORDERING THE
REASSESSMENT BY SUMMARY PROCEEDINGS, AND AUTHORIZING AND DIRECTING
RELATED ACTIONS;
3.Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA
AUTHORIZING THE ISSUANCE OF REFUNDING BONDS, AND APPROVING AND AUTHORIZING
RELATED DOCUMENTS AND ACTIONS; and
4.Adopt A RESOLUTION OF THE BOARD OF DIRECTORS OF THE LAKE ELSINORE PUBLIC
FINANCING AUTHORITY, RIVERSIDE COUNTY, CALIFORNIA, APPROVING THE FORM OF AN
ESCROW AGREEMENT IN CONNECTION WITH THE REFUNDING OF ITS LOCAL AGENCY
REVENUE REFUNDING BONDS (ASSESSMENT DISTRICT NO. 93-1), 2012 SERIES B.
Page 1 City of Lake Elsinore Printed on 4/8/2021
REPORT TO CITY COUNCIL/ FACILITIES FINANCING AUTHORITY/
PUBLIC FINANCING AUTHORITY
To: Honorable Mayor/ Chair and Members of the City Council/ Public Financing
Authority
From: Jason Simpson, City Manager/Executive Director
Date: April 13, 2021
Subject: Reassessment District No, 2021-1 (Canyon Hills) Limited Obligation
Refunding Bonds (Federally Taxable)
Recommendation
1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE
DECLARING ITS INTENTION TO LEVY REASSESSMENTS AND TO ISSUE REFUNDING
BONDS;
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE
ADOPTING THE REASSESSMENT REPORT, CONFIRMING AND ORDERING THE
REASSESSMENT BY SUMMARY PROCEEDINGS, AND AUTHORIZING AND DIRECTING
RELATED ACTIONS;
3. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE
AUTHORIZING THE ISSUANCE OF REFUNDING BONDS, APPROVING AND
AUTHORIZING RELATED DOCUMENTS AND ACTIONS; and
4. Adopt A RESOLUTION OF THE BOARD OF DIRECTORS OF THE LAKE ELSINORE
PUBLIC FINANCING AUTHORITY, RIVERSIDE COUNTY, CALIFORNIA, APPROVING
THE FORM OF AN ESCROW AGREEMENT IN CONNECTION WITH THE REFUNDING
OF ITS LOCAL AGENCY REVENUE REFUNDING BONDS (ASSESSMENT DISTRICT NO.
93-1), 2012 SERIES B.
Background
In 1993, the City of Lake Elsinore (“City”) formed Assessment District No. 93-1 (“Assessment
District”) pursuant to the Municipal Improvement Act of 1913. That same year, the City issued
the Limited Obligation Improvement Bonds, Series A and Series B to finance improvements
associated with Railroad Canyon Road. Over the years, refunding bonds were issued to reduce
annual assessments by property owners within the Assessment District.
Most recently, in November 2012, the Lake Elsinore Public Financing Authority (“PFA”) issued
the 2012 Local Agency Revenue Refunding Bonds, Series B (“2012B Bonds”) in the par amount
of $15,345,000. Currently, there is $10,560,000 of par outstanding. The 2012B Bonds were
structured with a final term of 2030 and a final interest rate of 6.125%. The optional call date of
the 2012B Bonds is September 2, 2022.
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April 13, 2021
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Over the years, staff has been proactive in monitoring outstanding land-secured debt
(community facilities district and assessment district) for refinancing candidates. In fact, since
2015, staff and City Council have identified and taken advantage of several refinancing
opportunities, leading to over $23 million in savings (reduction in special taxes) or money for
unfinished projects directly benefiting property owners.
Given the high interest rate environment at the time of issuing the 2012B Bonds, there is an
opportunity to refinance the 2012B Bonds today at a much lower interest rate to generate
savings for property owners.
Because the Tax Cuts and Jobs Act of 2017 (the “Act”) eliminated the tax exemption for interest
on advance refunding bonds (refunding bonds issued more than 90 days before the optional call
date), the proposed bonds contemplate refinancing the 2012B Bonds on a taxable basis. Given
the favorable taxable interest rate environment (30-year US Treasury rate of 2.35%, as of
Friday, April 2, 2021), many issuers have pursued taxable advance refundings since 2017.
Estimated savings, based on current market conditions, are provided below.
If all resolutions are approved this evening, staff will continue to work with the financing team on
finalizing all legal documents and the preliminary official statement with the goal of pricing the
refunding bonds sometime in late April or early May, assuming market conditions remain
favorable.
Discussion
The proposed City of Lake Elsinore Reassessment District No. 2021-1 (Canyon Hills) Limited
Obligation Refunding Bonds (Federally Taxable) (“2021 Refunding Bonds”) would be in a par
amount of approximately $10.6 million with a final maturity in 2030. This structure maintains the
same final maturity as the 2012B Bonds. In other words, there will be no extension of the
original terms. The final interest rate structure will be determined if, and when, the 2021
Refunding Bonds are priced and sold, assuming interest rates remain favorable.
While the 2012B Bonds are not currently rated, the 2021 Refunding Bonds are expected to
qualify for an investment grade rating and bond insurance, which would lead to a lower cost of
borrowing (and potentially more savings to property owners). Furthermore, the 2021 Refunding
Bonds may also qualify for a reserve fund surety policy. With a reserve fund surety policy, the
2021 Refunding Bonds would not need to cash fund a debt service reserve as part of the
issuance. This would enable the City to downsize the 2021 Refunding Bonds, lower annual
payments and increase savings to property owners.
Based on taxable interest rates as of February 25, 2021, total savings over the life of the 2021
Refunding Bonds are estimated to be $1.6 million. This translates to annual savings per parcel
of approximately $52. Net present value (NPV) savings are estimated to be $338,000. As
measure against the par value of the 2012B Bonds, NPV savings reflect 3.2%. Estimated
savings are net of all financing costs (including the cost of procuring bond insurance and a
reserve fund surety policy).
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April 13, 2021
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Select Refinancing Statistics
Par Amount $10,555,000
True Interest Rate 2.49%
Net Present Value Savings ($) $338,453
Net Present Value Savings (%) 3.20%
Average Annual Savings (2022-2030) $179,673
Average Annual Savings Per Parcel* $52.63
Total Savings $1,618,826
Based on Market Conditions as of February 25, 2021.
*Average Annual Savings Divided by Number of Parcels
(3,414).
As required under Section 5852.1 of the California Government Code, good faith estimates
have been provided to the City by Urban Futures, Inc., the Municipal Advisor, in consultation
with Stifel, Nicolaus & Company, Incorporated, as underwriter of the 2021 Refunding Bonds, as
Attachment A.
Documents to be Approved
In accordance with the reassessment proceedings set forth under the Refunding Act of 1984 for
1915 Improvement Act Bonds, adoption of the “Resolution of the City Council of the City of Lake
Elsinore Declaring its Intention to Levy Reassessments and to Issue Refunding Bonds” and the
“Resolution of the City Council of the City of Lake Elsinore Adopting the Reassessment Report,
Confirming and Ordering the Reassessment by Summary Proceedings, and Authorizing and
Directing Related Actions” are required as the first steps to issue the refunding bonds. In such
resolutions, the City Council makes certain findings and directs the preparation of, and accepts,
a Reassessment Report prepared by the reassessment engineer (Spicer Consulting Group).
The Reassessment Report contains, among other things, the proposed reassessment for each
parcel, and must demonstrate that there is no increase in principal amount relative to the prior
bonds, that the term of the refunding bonds does not extend beyond that of the prior bonds, and
that there are savings in each and every year.
After approval of the two resolutions describe above, approval of the resolution authorizing the
issuance of the refunding bonds approves the preparation, form, and/or authorizes the
execution and delivery of the following documents:
Preliminary Official Statement: The POS is the ‘offering document,’ providing a description
of the Assessment District, the 2021 Refunding Bonds, and all other information that would
be material to a prospective investor’s decision on whether to purchase the 2021 Refunding
Bonds. While the City’s counsel, consultants, and the underwriter have participated in
preparing the POS, City Council and staff are ultimately responsible for ensuring that the
POS is accurate, contains no misleading information and does not omit any information
necessary to make the POS not misleading to investors.
Bond Indenture: The Indenture is a contract entered into between the City and Wilmington
Trust, National Association, as the appointed Trustee for the 2021 Refunding Bonds. This
document contains terms of the 2021 Refunding Bonds including, but not limited to, the
payment and redemption provisions, the pledge of revenues to pay the 2021 Refunding
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Bonds, rights and duties of the Trustee, remedies upon a default in the payment of the 2021
Refunding Bonds, and other related matters.
Bond Purchase Agreement: Pursuant to the Bond Purchase Agreement, the City agrees to
sell the 2021 Refunding Bonds to the underwriter and the underwriter ag rees to purchase
the 2021 Refunding Bonds, subject to typical closing conditions. City staff, its municipal
advisor, and bond counsel will sign off on the final pricing prior to the execution of the Bond
Purchase Agreement.
Continuing Disclosure Certificate: Executed for the benefit of bondholders, this Certificate
obligates the City to file an annual report each Fiscal Year which includes, among other
things, the most recent audited financial statements of the City and financial data relating to
the Assessment District. The City is also required to report certain events to bondholders if
and when they occur.
Escrow Agreement: This document contains terms by which the Trustee will hold bond
proceeds on the behalf of the owners of the 2012B Bonds to pay and discharge the
outstanding bonds on the redemption date.
Since the 2012B Bonds to be refunded were issued by the Lake Elsinore Public Financing
Authority, the PFA will need to be a party to the escrow agreement in connection with the
refunding. The City Council members are the members of the Board of Directors of the PFA.
Approval by the Board of Directors of the PFA of its resolution presented at this meeting
authorizes the PFA to execute and deliver the escrow agreement.
Bond Counsel, City Attorney, and the rest of the financing team have reviewed the attached
documents on behalf of the City. As previously mentioned, if the Resolutions are approved, City
staff will continue to work with the appointed financing team to finalize all of the documents. The
pricing date, assuming interest rates remain favorable, would be targeted for late April or early
May.
Fiscal Impact
With the exception of a rating cost from S&P (which is able to be reimbursed from bond
proceeds), there is no impact to the City’s General Fund. If, and when, the 2021 Refunding
Bonds price, the property owners are estimated to save approximately $52 per parcel annually
through 2030, as previously illustrated, based on current market conditions. The savings quoted
above are net of all financing costs (including the cost of purchasing bond insurance and a
reserve fund surety policy). All figures are preliminary and subject to prevailing market conditions
at the time of sale.
Exhibits
A - Good Faith Estimates
B - Resolution Declaring Intention to Levy Reassessments and Issue Refunding Bonds (Council)
C - Resolution Adopting Reassessment Report, Ordering Summary Proceedings and Other
Actions (Council)
D - Resolution Authorizing Issuance of Refunding Bonds, Approving Documents and Other
Actions (Council)
E - Resolution Approving Form of Escrow Agreement (PFA)
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F - Preliminary Official Statement
G - Indenture
H - Bond Purchase Agreement
I - Continuing Disclosure Certificate
J - Escrow Agreement
K - Reassessment Report
ATTACHMENT A
GOOD FAITH ESTIMATES
The good faith estimates set forth herein are provided with respect to the 2021 Refunding Bonds in
accordance with California Government Code Section 5852.1. Such good faith estimates have been
provided to the City by Urban Futures, Inc., the City’s Municipal Advisor (the “Municipal Advisor”), in
consultation with Stifel (the “Original Purchaser”).
Principal Amount. The Municipal Advisor has informed the City that, based on the City’s financing plan and
current market conditions, its good faith estimate of the aggregate principal amount of the 2021 Refunding
Bonds to be sold is $10,555,000 (the “Estimated Principal Amount”).
True Interest Cost of the Bonds. The Municipal Advisor has informed the City that, assuming that the
respective Estimated Principal Amount of the 2021 Refunding Bonds is sold, and based on market interest
rates prevailing at the time of preparation of such estimate, its good faith estimate of the true interest cost
of the 2021 Refunding Bonds, which means the rate necessary to discount the amounts payable on the
respective principal and interest payment dates to the purchase price received for the 2021 Refunding
Bonds, is 2.49%.
Finance Charge of the Bonds. The Municipal Advisor has informed the City that, assuming that the
Estimated Principal Amount of the 2021 Refunding Bonds is sold, and based on market interest rates
prevailing at the time of preparation of such estimate, its good faith estimate of the finance charge for the
2021 Refunding Bonds, which means the sum of all fees and charges paid to third parties (or costs
associated with the 2021 Refunding Bonds), is $339,550. Additionally, there will be an annual Trustee fee
of $3,000 for as long as the 2021 Refunding Bonds are outstanding.
Amount of Proceeds to be Received . The Municipal Advisor has informed the City that, assuming the
Estimated Principal Amount of the 2021 Refunding Bonds is sold, and based on market interest rates
prevailing at the time of preparation of such estimate, its good faith estimate of the amount of proceeds
expected to be received for the sale of the 2021 Bonds, less the finance charge of the 2021 Refunding Bonds,
as estimated above, and any reserves or capitalized interest paid or funded with proceeds of the 2021
Refunding Bonds, is $11,305,545.
Total Payment Amount. The Municipal Advisor has informed the City that, assuming that the Estimated
Principal Amount of the 2021 Refunding Bonds is sold, and based on market interest rates prevailing at the
time of preparation of such estimate, its good faith estimate of the total payment amount, which means
the sum total of all payments to pay debt service on the 2021 Refunding Bonds, plus the finance charge for
the 2021 Refunding Bonds, as described above, not paid with the respective proceeds of the 2021 Refunding
Bonds, calculated to the final maturity of the 2021 Refunding Bonds, is $11,895,199. Additionally, there will
be an annual Trustee fee of $3,000 for as long as the 2021 Refunding Bonds are outstanding.
The foregoing estimates constitute good faith estimates only and are based on market conditions prevailing
at the time of preparation of such estimates. The actual principal amount of the 2021 Refunding Bonds
issued and sold, the true interest cost thereof, the finance charges thereof, the amount of proceeds
received therefrom and total payment amount with respect thereto may differ from such good faith
estimates due to (a) the actual date of the sale of the 2021 Refunding Bonds being different than the date
assumed for purposes of such estimates, (b) the actual principal amount of 2021 Refunding Bonds sold
being different from the respective Estimated Principal Amount, (c) the actual amortization of the 2021
Refunding Bonds being different than the amortization assumed for purposes of such estimates, (d) the
actual market interest rates at the time of sale of the 2021 Refunding Bonds being different than those
estimated for purposes of such estimates, (e) other market conditions, or (f) alterations in the District’s
financing plan, or a combination of such factors. The actual date of sale of the 2021 Bonds and the actual
principal amount of 2021 Refunding Bonds sold will be determined by the District based on various factors.
The actual interest rates borne by the 2021 Refunding Bonds will depend on market interest rates at the
time of sale thereof. The actual amortization of the 2021 Refunding Bonds will also depend, in part, on
market interest rates at the time of sale thereof. Market interest rates are affected by economic and other
factors beyond the control of the City.
RESOLUTION NO. 2021-__
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, DECLARING ITS INTENTION TO LEVY REASSESSMENTS AND TO
ISSUE REFUNDING BONDS
Whereas, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) has
previously formed its Assessment District No. 93-1 (Canyon Hills) (the “Assessment District”) and
confirmed reassessments on the various parcels located therein to refinance the costs of certain
improvements of special local benefit to said parcels (the “Prior Reassessments”), all pursuant to
the Refunding Act of 1984 for 1915 Improvement Act Bonds (Division 11.5, commencing with
Section 9500, of the Streets and Highways Code of California) (the “Act”); and,
Whereas, the City Council has previously caused bonds to be issued on behalf of the Assessment
District (the “Prior Bonds”) pursuant to the provisions of the Act in order, among other things, to
refinance the costs of the aforesaid improvements; and,
Whereas, the Prior Bonds are secured by the unpaid Prior Reassessments; and,
Whereas, in order to benefit taxpayers within the Assessment District by reducing the amount of
the installments of the Prior Reassessments being levied each year on the parcels within the
Assessment District, the public interest and necessity require that the outstanding Prior Bonds be
refunded, and the City Council intends to accomplish the refunding through the levy of
reassessments and the issuance of refunding bonds upon the security thereof.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE HEREBY
FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOW:
Section 1. The above recitals, and each of them, are true and correct.
Section 2. It is the intention of the City Council to refund the outstanding Prior Bonds and to levy
reassessments as security for refunding bonds as hereinafter provided pursuant to the Act.
Section 3. The contemplated reassessments and refunding, in the opinion of the City Council,
are of more than local or ordinary public benefit, and the costs and expenses thereof are made
chargeable upon the Assessment District, the exterior boundaries of which are shown on a
reassessment diagram thereof heretofore filed in the office of the City Clerk, and to be filed in the
office of the County Recorder of the County of Riverside, to which reassessment diagram
reference is hereby made for further particulars and which shall hereafter be called the “City of
Lake Elsinore Reassessment District No. 2021-1 (Canyon Hills)” (the “Reassessment District”).
The reassessment diagram indicates by a boundary line the extent of the territory included in the
Reassessment District and shall govern for all details as to the extent thereof.
The firm of Spicer Consulting Group, LLC, a qualified firm employed by the City for the
purpose hereof (the “Reassessment Consultant”) is hereby authorized and directed to make and
file with the City Clerk a written report containing the following.
(a) A schedule setting forth the unpaid principal and interest on the Prior Bonds
to be refunded and the total amounts thereof;
CC Res. No. 2021-____
Page 2 of 4
(b) The total estimated principal amount of the reassessment and of the
refunding bonds and the maximum interest rate thereon, together with an estimate of cost of the
reassessment and of issuing the refunding bonds, including all costs of issuing the refunding
bonds, as defined by subdivision (a) of Section 9600 of the Act;
(c) The auditor’s record kept pursuant to Section 8682 of the Streets and
Highways Code of California showing the schedule of principal installments and interest on all
unpaid original assessments and the total amounts thereof;
(d) The estimated amount of each reassessment, identified by reassessment
number corresponding to the reassessment number on the reassessment diagram, together with
a proposed auditor’s record for the reassessment prepared in the manner described in said
Section 8682; and
(e) A reassessment diagram showing the Reassessment District and the
boundaries and dimensions of the subdivisions of land within the Reassessment District (each
subdivision, including each separate condominium interest as defined in Section 783 of the Civil
Code of California, to be given a separate number upon the diagram).
Section 4. Notice is hereby given that serial and/or term bonds to represent the reassessments
will be issued hereunder in the manner provided by the Act. It is the intention of the City that the
City will not obligate itself to advance available funds from the treasury of the City to cure any
deficiency in the redemption fund to be created with respect to the refunding bonds; provided,
however, that a determination not to obligate itself shall not prevent the City from, in its sole
discretion, so advancing the funds.
Section 5. The provisions of Part 11.1 of the 1915 Act, providing for an alternative procedure for
the advance payment of reassessments and the calling of bonds, shall apply to refunding bonds
issued pursuant to proceedings under this Resolution.
Section 6. It is the intention of the City Council to create a special reserve fund with respect to
the refunding bonds pursuant to and as authorized by Part 16 of the 1915 Act, and the amount to
be deposited into said fund shall be included in the reassessment.
Section 7. Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach,
California, is hereby appointed as bond counsel and disclosure counsel for the purpose of the
reassessment and refunding proceedings; Urban Futures, Inc., Tustin, California, is hereby
appointed municipal advisor for the refunding bonds; Stifel Nicolaus & Company, Incorporated, is
hereby appointed as underwriter for the refunding bonds; and the fees of such firms shall be fixed
in the proceedings and shall be paid only upon the successful completion of the proposed
reassessment and refunding and from the proceeds of the refunding bonds.
Section 8. This Resolution shall be effective upon its adoption.
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Passed and Adopted on this 13th day of April, 2021.
_____________________________
Robert E. Magee, Mayor
Attest:
_____________________________
Candice Alvarez, MMC
City Clerk
CC Res. No. 2021-____
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2021-______ was adopted by the City Council of the City of Lake Elsinore,
California, at the Regular meeting of April 13, 2021, and that the same was adopted by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________
Candice Alvarez, MMC
City Clerk
RESOLUTION NO. 2021- ______
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ADOPTING THE REASSESSMENT REPORT, CONFIRMING AND
ORDERING THE REASSESSMENT BY SUMMARY PROCEEDINGS, AND
AUTHORIZING AND DIRECTING RELATED ACTIONS
Whereas, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) has
previously formed its Assessment District No. 93-1 (Canyon Hills) (the “Assessment District”) and
confirmed reassessments on the various parcels located therein to refinance the costs of certain
improvements of special local benefit to said parcels (the “Prior Reassessments”), all pursuant to
the Refunding Act of 1984 for 1915 Improvement Act Bonds (Division 11.5, commencing with
Section 9500, of the Streets and Highways Code of California) (the “Act”); and,
Whereas, the City Council has previously caused bonds to be issued on behalf of the Assessment
District (the “Prior Bonds”) pursuant to the provisions of the Act in order, among other things, to
refinance the costs of the aforesaid improvements; and,
Whereas, the Prior Bonds are secured by the unpaid Prior Reassessments; and,
Whereas, the City Council has previously adopted its “Resolution of the Council of the City of
Lake Elsinore Declaring its Intention to Levy Reassessments and to Issue Refunding Bonds” (the
“Resolution of Intention”) in and for the “City of Lake Elsinore Reassessment District No. 2021-1
(Canyon Hills)” (the “Reassessment District”) in which it determined that, in order to benefit
taxpayers within the Assessment District, which are encompassed by the Reassessment District,
by reducing the amount of the installments of the Prior Reassessments being levied each year on
the parcels within the Assessment District, the public interest and necessity required that the
outstanding Prior Bonds be refunded, and in which the City Council declared its intention to
accomplish the refunding through the levy of reassessments and the issuance of refunding bonds
upon the security thereof, all under and pursuant to the Act; and,
Whereas, among other things, in the Resolution of Intention, the City Council directed the making
and filing of a reassessment report (the “Report”) in writing, all in accordance with and pursuant
to the Act; and,
Whereas, the Report was duly made and filed with the City Clerk and has been duly considered
by the City Council and found to be sufficient in every particular.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE HEREBY
FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOW:
Section 1. The above recitals, and each of them, are true and correct.
Section 2. Pursuant to Section 9525 of the Act, and based upon the Report, the City Council
finds that all of the following conditions are satisfied:
(a) Each estimated annual installment of principal and interest on the
reassessment for properties within the Assessment District as set forth in the Report is less than
the corresponding annual installment of principal and interest on the portion of the original Prior
CC Res. No. 2021-_____
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Reassessment being superseded and supplanted as also set forth in the Report, by the same
percentage for all subdivisions of land within the Assessment District;
(b) The number of years to maturity of all refunding bonds proposed to be
issued is no more than the number of years to the last maturity of the Prior Bonds; and
(c) The principal amount of the reassessment on each subdivision of land
within the Assessment District is less than the unpaid principal amount of the portion of the original
Prior Reassessment being superseded and supplanted by the same percentage for each
subdivision of land in such Assessment District. (For the purpose hereof, the term “unpaid” shall
not include installments which are posted to the tax roll for fiscal year 2020-21.);
Section 3. The public interest, convenience and necessity require that the reassessment be
made as described in the Report.
Section 4. Based upon the findings set forth above, and pursuant to and in accordance with
Section 9525 of the Act, the Report and each element thereof is approved and confirmed without
further proceedings, including the conduct of a public hearing under the Act.
Section 5. The reassessment, including all costs and expenses thereof, is hereby approved,
confirmed and levied, provided that the City Treasurer is hereby authorized and directed to take
certain actions with respect thereto as set forth in Section 8.
Section 6. The City Clerk and other appropriate officer or officers of the City are hereby
authorized and directed to carry out the following, including the payment of any and all fees
required by law in connection therewith:
(a) Deliver the reassessment to the official of the City who is its Superintendent
of Streets, together with the reassessment diagram, as approved and confirmed hereby, with a
certificate of such confirmation and of the date hereof, executed by the City Clerk, attached
thereto, whereupon the Superintendent of Streets shall record each of the reassessments and
the reassessment diagram in a suitable book to be kept for that purpose and append thereto a
certificate of the date of such recording, and such recordation shall be and constitute the
applicable reassessment roll.
(b) File and record, respectively, the reassessment diagram and a notice of
reassessment in substantially the form specified by Section 3114 of the Streets and Highways
Code of California and executed by the City Clerk in the office of the County Recorder of the
County of Riverside (the “County”).
(c) Provide a copy of this resolution to the Auditor of the County at the time of
the delivery of the debt service records for the refunding bonds secured by the reassessments.
Section 7. The City Treasurer shall keep the record showing the several installments of principal
and interest on the reassessments which are to be collected each fiscal year during the term of
the refunding bonds. An annual apportionment of each reassessment, together with annual
interest on said reassessment, shall be payable in the same manner and at the same time and in
the same installments as the general fund ad valorem property taxes and shall be payable and
become delinquent at the same time and in the same proportionate amount; provided that any
reassessments on possessory interests shall be collected on the unsecured tax roll and shall be
payable and become delinquent at the same time as other taxes levied on said unsecured roll.
CC Res. No. 2021-_____
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Each year the annual installments shall be submitted to the County Auditor for purposes of
collection, and the County Auditor shall, at the close of the tax collecting period, promptly render
to the City Treasurer a detailed report showing the amount of such installments, interest, penalties
and percentages so collected
Section 8. The City Treasurer is authorized and directed to: (a) revise the Report to reduce the
applicable reassessments, as confirmed pursuant hereto if and to the extent necessary so that
the aggregate amount thereof does not exceed the initial principal amount of the refunding bonds,
(b) amend the reassessment and reassessment diagram to reflect such reductions, and (c)
promptly record the reassessment, together with the reassessment diagram, as so amended, in
the office of the person acting as the Superintendent of Streets of the City; and immediately
thereafter, a copy of the reassessment diagram, as so amended, shall be filed in the office of the
County Recorder and a Notice of Reassessment, referring to the reassessment diagram, shall be
recorded in the office of the County Recorder, all pursuant to the provisions of Division 4.5 of the
Streets and Highways Code of California.
Section 9. This Resolution shall be effective upon its adoption.
Passed and Adopted on this 13th day of April, 2021.
_____________________________
Robert E. Magee, Mayor
Attest:
_____________________________
Candice Alvarez, MMC
City Clerk
CC Res. No. 2021-_____
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2021-______ was adopted by the City Council of the City of Lake Elsinore,
California, at the Regular meeting of April 13, 2021, and that the same was adopted by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________
Candice Alvarez, MMC
City Clerk
RESOLUTION NO. 2021-__
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, AUTHORIZING THE ISSUANCE OF REFUNDING BONDS AND
APPROVING AND AUTHORIZING RELATED DOCUMENTS AND ACTIONS
Whereas, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) has
previously formed its Assessment District No. 93-1 (Canyon Hills) (the “Assessment District”) and
confirmed reassessments on the various parcels located therein to refinance the costs of certain
improvements of special local benefit to said parcels (the “Prior Reassessments”), all pursuant to
the Refunding Act of 1984 for 1915 Improvement Act Bonds (Division 1 1.5, commencing with
Section 9500, of the Streets and Highways Code of California) (the “Act”); and,
Whereas, the City Council has previously caused bonds to be issued on behalf of the Assessment
District (the “Prior Bonds”) pursuant to the provisions of t he Act in order, among other things, to
refinance the costs of the aforesaid improvements; and,
Whereas, the Prior Bonds are secured by the unpaid Prior Reassessments; and,
Whereas, the Prior Bonds were purchased by the Lake Elsinore Public Financing Authority (the
“Authority”) in connection with the issuance of the Authority’s Local Agency Revenue Refunding
Bonds (Assessment District No. 93-1), 2012 Series B (the “Prior Authority Bonds”); and,
Whereas, the City Council has previously adopted its “Resolution of the City Council of the City
of Lake Elsinore Declaring its Intention to Levy Reassessments and to Issue Refunding Bonds”
(the “Resolution of Intention”) in and for the “City of Lake Elsinore Reassessment District No.
2021-1 (Canyon Hills)” (the “Reassessment District”) in which it determined that, in order to benefit
taxpayers within the Assessment District, which are encompassed by the Reassessment District,
by reducing the amount of the installments of the Prior Reassessments being levied each year on
the parcels within the Assessment District, the public interest and necessity required that the
outstanding Prior Bonds be refunded, and in which the City Council declared its intention to
accomplish the refunding through the levy of reassessments and the issuance of refunding bonds
upon the security thereof, all pursuant to the Act; and,
Whereas, among other things, in the Resolution of Intention, the City Council directed the making
and filing of a reassessment report (the “Report”) in writing, all in accordance with and pursuant
to the Act; and,
Whereas, the Report was duly made and filed with the City Clerk and was duly considered by the
City Council and found to be sufficient in every particular; and,
Whereas, subsequent to its receipt and review of the Report, the City Council adopted its
“Resolution of the City Council of the City of Lake Elsinore Adopting the Reassessment Report,
Confirming and Ordering the Reassessment by Summary Proceedings, and Authorizing and
Directing Related Actions” (the “Resolution Confirming the Reassessment”) in which, among other
things, it found that all of the conditions set forth in Section 9525 of the Act had been satisfied,
approved the Report and confirmed the reassessment; and,
Whereas, the proceedings for the reassessment under the Act and the Resolution of Intention
are now completed, and the City Council wishes to provide for the issuance of refunding bonds
CC Res. No. 2021-____
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hereinafter described (the “Refunding Bonds”) on the security of such unpaid reassessments
pursuant to the Act; and,
Whereas, the Refunding Bonds shall be issued under and in accordance with the Indenture,
dated as of May 1, 2021 (the “Indenture”), by and between the City and Wilmington Trust, National
Association, as trustee (the “Trustee”) in an aggregate principal amount not to exceed the
aggregate amount of the unpaid reassessment; and,
Whereas, in order to effect the issuance of the Refunding Bonds, the City Council desires to
approve the form of a Preliminary Official Statement for the Refunding Bonds (the “Preliminary
Official Statement”) and to approve the forms of and to authorize the execution and delivery of
the Indenture, a Bond Purchase Agreement, a Continuing Disclosure Certificate and an Escrow
Agreement, in substantially the forms on file with the City Clerk and to authorize such changes
and additions thereto as the Authorized Officers (defined herein) deem necessary or desirable;
and,
Whereas, the City Council has determined that a negotiated sale of the Refunding Bonds to Stifel
Nicolaus & Company, Incorporated, as Underwriter (the “Underwriter”), in accordance with the
terms of the Bond Purchase Agreement to be entered into by the City and the Underwriter (the
“Bond Purchase Agreement”) will result in a lower overall cost to the City than a sale of the
Refunding Bonds on sealed proposals to the highest bidder in that a negotiated sale will allow for
adequate time to pre-market the Refunding Bonds and for the timing of the sale of the Refunding
Bonds to be flexible, thereby maximizing the likely debt service savings to the City; and,
Whereas, the City Council has determined that it is prudent in the management of its fiscal affairs
to issue the Refunding Bonds and that the issuance of the Refunding Bonds will achieve debt
service savings and will benefit taxpayers within the Assessment District; and
Whereas, the refunding and defeasance of the Prior Bonds will cause a simultaneous refunding
and defeasance of the Prior Authority Bonds; and,
Whereas, all conditions, things and acts required to exist, to have happened and to have been
performed precedent to and in the issuance of the Refunding Bonds and the levy of the
reassessments as contemplated by this Resolution and the documents referred to herein exist,
have happened and have been performed in due time, form and manner as required by the laws
of the State of California, including the Act.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY
RESOLVE, DETERMINE AND ORDER AS FOLLOW:
Section 1. The above recitals, and each of them, are true and correct.
Section 2. The City Council finds that the issuance of the Refunding Bonds as described in the
Preliminary Official Statement will provide significant public benefits by reducing the total amount
of installments of reassessments to be levied for debt service within the Assessment District.
Section 3 The City Council has determined to defease the Prior Bonds, subject to the provisions
of Section 5 below regarding debt service savings, through (a) the issuance of its Refunding
Bonds pursuant to the Indenture and a Bond Purchase Agreement and (b) the application of
certain existing funds are being held in connection with the Prior Bonds to such defeasance.
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Section 4. The City is authorized pursuant to the Act to issue the Refunding Bonds for the
purpose of refunding the Prior Bonds.
Section 5. The issuance of the Refunding Bonds in a principal amount not to exceed $10,555,000
is hereby authorized, with the exact principal amount to be determined by the official signing the
Bond Purchase Agreement in accordance with Section 10 below. The Refunding Bonds may be
issued to refund the Prior Bonds only if the Mayor, the City Manager, or their written designees
(each, an “Authorized Officer” and collectively, the “Authorized Officers”), determine that there is
an economic benefit to the City in the form of aggregate net pr esent value savings of at least
2.00%, expressed as a percentage of the par amount of the Prior Bonds to be refunded by the
Refunding Bonds. Each of the foregoing determinations to be made by an Authorized Officer will
be conclusively evidenced by the execution of the Bond Purchase Agreement by the City.
Section 6. The Refunding Bonds shall mature on the dates and pay interest at the rates set forth
in the Bond Purchase Agreement. The Refunding Bonds shall be governed by the terms and
conditions of the Indenture.
Section 7. The form of the Indenture presented at this meeting is hereby approved. The
Indenture shall be executed by any of the Authorized Officers, substantially in the form of the
Indenture presented at this meeting, with such additions thereto and changes therein as the
Authorized Officer executing the same deem necessary or desirable, including to insert the
offering price(s), interest rate(s), principal amount per maturity, redemption dates and prices,
reserve account deposits and such other related terms and provisions or to conform any
provisions therein to the Bond Purchase Agreement and the Official Statement delivered to the
purchasers of the Refunding Bonds. Approval of such changes shall be conclusively evidenced
by the execution and delivery of the Indenture by any one of the Authorized Officers. Capitalized
terms used in this Resolution which are not defined herein have the meanings ascribed to them
in the Indenture.
Section 8. The Refunding Bonds shall be executed by the manual or facsimile signature of the
City Treasurer, and the signature of the City Treasurer shall be attested to with the manual or
facsimile signature of the City Clerk or a Deputy City Clerk.
Section 9. The covenants set forth in the Indenture to be executed in accordance with Section 7
above are hereby approved, shall be deemed to be covenants of the City Council and shall be
complied with by the City and its officers.
Section 10. The Underwriter is hereby appointed for purposes of offering the Refunding Bonds
for sale in accordance with the provisions of the Bond Purchase Agreement and the Indenture.
The form of the Bond Purchase Agreement presented at this meeting is hereby approved; and
any one of the Authorized Officers is hereby authorized to execute the Bond Purchase Agreement
substantially in the form presented at this meeting, with such additions thereto and changes
therein as the Authorized Officer executing the same deem necessary or desirable, including to
conform the Bond Purchase Agreement to the dates, amounts and interest rates applicable to the
Refunding Bonds. Approval of such additions and changes shall be conclusively evidenced by
the execution and delivery of the Bond Purchase Agreement; provided, however, that the Bond
Purchase Agreement shall be signed only if the requirements of Section 5 hereof have been
satisfied and that the Underwriter’s discount in connection with the Refunding Bonds shall not
exceed 1.50% of the principal amount of the Refunding Bonds.
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Section 11. The form of the Continuing Disclosure Certificate attached to the Preliminary Official
Statement and presented at this meeting is hereby approved; and any one of the Authorized
Officers is hereby authorized and directed to execute the Continuing Disclosure Certificate
substantially in the form hereby approved, with such additions therein and changes thereto as the
Authorized Officer executing the same deem necessary or desirable, with such approval to be
conclusively evidenced by the execution and delivery of the Continuing Disclosure Certificate.
Section 12. The form of the Escrow Agreement (the “Escrow Agreement”), by and among the
City, the Authority and Wilmington Trust, National Association, as escrow agent, presented at this
meeting, is hereby approved, and any one of the Authorized Officers is hereby authorized and
directed to execute the Escrow Agreement substantially in the form hereby approved, with such
additions therein and changes thereto as the Authorized Officer executing the same deem
necessary or desirable, with such approval to be conclusively evidenced by the execution and
delivery of the Escrow Agreement.
Section 13. The form of the Preliminary Official Statement presented at this meeting is hereby
approved and the Underwriter is hereby authorized to distribute the Preliminary Official Statement
to prospective purchasers of the Refunding Bonds in the form hereby approved, together with
such additions thereto and changes therein as are determined necessary by the Authorized
Officers to make such Preliminary Official Statement final as of its date for purposes of Rule 15c2-
12 of the Securities and Exchange Commission. Each of the Authorized Officers is hereby
authorized to execute a final Official Statement in the form of the Preliminary Official Statement,
together with such changes as are determined necessary by the Authorized Officers, to make
such Official Statement complete and accurate as of its date. The Underwriter is further
authorized to distribute the final Official Statement for the Refunding Bonds and any supplement
thereto to the purchasers of the Refunding Bonds upon the execution of the final Official
Statement as described above.
Section 14. Each of the Authorized Officers is authorized to provide for all services necessary to
affect the issuance, sale and delivery of the Refunding Bonds. Such services shall include, but
not be limited to, obtaining legal services, trustee services, verification agent services, consultant
services and any other services deemed appropriate by an Authorized Officer. Each Authorized
Officer is authorized to pay for the cost of such services, together with other costs of issuance,
from Refunding Bond proceeds deposited pursuant to the Indenture.
Section 15. Each of the Authorized Officers is authorized, but not required, to obtain a rating of
the Refunding Bonds from a nationally recognized rating service. Each of the Authorized Officers,
or their respective written designees, acting alone, is hereby authorized to negotiate the terms of
a commitment (the “Insurance Commitment”) for bond insurance for some or all of the Refunding
Bonds and a commitment for a reserve fund surety bond (the “Surety Commitment”) for all or a
portion of the Reserve Fund (as defined in the Indenture) from one or more municipal bond
insurance companies (an “Insurer”) and, if such officer determines that the acquisition either of a
policy or a reserve fund surety bond, or both, from an Insurer will result in net interest rate savings
or will result in more annual debt service savings, to pay the premiums for such policy and surety
bond from the proceeds of the Refunding Bonds and to revise the documents approved by this
Resolution to the extent necessary to conform to the terms of the Insurance Commitment and the
Surety Commitment. Each of the Authorized Officers, acting alone, is further authorized to
execute a reimbursement agreement required by the Surety Commitment.
Section 16. All actions heretofore taken by any Authorized Officers, or by any other officers,
employees or agents of the City, with respect to: (1) the issuance, delivery or sale of the
CC Res. No. 2021-____
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Refunding Bonds; (2) the refunding, defeasance and redemption of the Prior Bonds and the Prior
Authority Bonds; and (3) the Indenture, the Bond Purchase Agreement, the Escrow Agreement,
the Continuing Disclosure Certificate, or any of the documents referenced therein, are hereby
approved, confirmed and ratified. The Mayor or his designee and the other Authorized Officers
responsible for the fiscal affairs of the City are hereby jointly and severally authorized and directed
to do all things and take any and all actions and execute and deliver any and all documents as
are necessary or desirable to accomplish the issuance, sale and delivery of the Refunding Bonds
and the refunding and redemption of the Prior Bonds and the Prior Authority Bonds in accordance
with the provisions of this Resolution, and as are necessary or appropriate for the fulfillment of
the purposes of the Refunding Bonds as described in the Indenture, including executing and
delivering any amendments to the documents for the Prior Bonds and the Prior Authority Bonds.
Any document authorized herein to be signed by the City Clerk may be signed by a duly appointed
Deputy City Clerk.
Section 17. The City Council acknowledges that the good faith estimates required by
Section 5852.1 of the California Government Code are disclosed in the staff report and are
available to the public at the meeting at which this Resolution is approved.
Section 18. This Resolution shall be effective upon its adoption.
Passed and Adopted on this 13th day of April, 2021.
_____________________________
Robert E. Magee, Mayor
Attest:
_____________________________
Candice Alvarez, MMC
City Clerk
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2021-______ was adopted by the City Council of the City of Lake Elsinore,
California, at the Regular meeting of April 13, 2021, and that the same was adopted by the
following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________
Candice Alvarez, MMC
City Clerk
RESOLUTION NO. 2021- ____
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE LAKE ELSINORE PUBLIC
FINANCING AUTHORITY, RIVERSIDE COUNTY, CALIFORNIA, APPROVING THE
FORM OF AN ESCROW AGREEMENT IN CONNECTION WITH THE REFUNDING OF
ITS LOCAL AGENCY REVENUE REFUNDING BONDS (ASSESSMENT DISTRICT NO.
93-1), 2012 SERIES B
Whereas, the Lake Elsinore Public Financing Authority (the “Authority”) is a joint exercise of
powers authority duly organized and existing under the provisions of Articles 1 through 4
(commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code of
the State of California (the “Act”), and is authorized pursuant to Article 4 of the Act (the “Bond
Law”) to borrow money for the purpose of financing the acquisition of bonds, notes and other
obligations to provide financing and refinancing for capital improvements of member entities of
the Authority and other local agencies; and,
Whereas, the City of Lake Elsinore (the “City”) previously issued its City of Lake Elsinore
Assessment District No. 93-1 Limited Obligation Refunding Improvement Bonds, 2012 Series A
(the “Prior Assessment District Bonds”) in connection with the issuance by the Authority of its
Local Agency Revenue Refunding Bonds (Assessment District No. 93-1), 2012 Series B (the
“Prior Authority Bonds”); and,
Whereas, the City has authorized the issuance of its City of Lake Elsinore Reassessment District
No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds (Federally Taxable) (the
“Refunding Bonds”) to refund and defease the Prior Assessment District Bonds and to effectuate
a simultaneous refunding and defeasance of the Prior Authority Bonds; and,
Whereas, to facilitate the refunding and defeasance of the Prior Assessment District Bonds and
the Prior Authority Bonds, the Board of Directors of the Authority (the “Board”) desires to approve
an escrow agreement (the “Escrow Agreement”) with the City and Wilmington Trust, National
Association, as escrow agent, in the form on file with the Secretary of the Authority.
NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE LAKE ELSINORE PUBLIC
FINANCING AUTHORITY, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOW:
Section 1. Each of the above recitals is true and correct and is adopted by the Board of
Directors.
Section 2. The form of the Escrow Agreement presented at this meeting is hereby approved;
and each of the Executive Director and the Treasurer, or their respective written designees
(collectively, the “Authorized Officers”) is authorized to execute the Escrow Agreement in the form
hereby approved, with such additions thereto and changes therein as the officers executing the
same deem necessary and to cure any ambiguity or defect therein. Approval of such changes
shall be conclusively evidenced by the execution and delivery of the Escrow Agreement by one
or more of such officers.
Section 3. The Authorized Officers are hereby appointed as the authorized officers of the
Authority for all purposes required to effect the refunding, defeasance and redemption of the Prior
Assessment District Bonds and the Prior Authority Bonds and are hereby authorized, empowered,
PFA No. 2021-____
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and directed, jointly and severally, to do all such acts and things and to execute all such
documents as may be necessary to consummate the refunding, defeasance and redemption of
the Prior Assessment District Bonds and the Prior Authority Bonds and otherwise to effectuate
the purposes of this Resolution, including executing and delivering any amendments to the
documents for the Prior Assessment District Bonds and the Prior Authority Bonds.
Section 4. This Resolution shall take effect immediately upon its adoption.
Passed and Adopted on this 13th day of April, 2021.
_____________________________
Robert E. Magee, Chairperson
Attest:
_____________________________
Candice Alvarez, MMC,
Secretary
PFA No. 2021-____
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, Secretary of the Lake Elsinore Public Financing Authority, do hereby
certify that Resolution No. 2021-______ was adopted by the Board of Directors of the Lake
Elsinore Public Financing Authority, at the Regular meeting of April 13, 2021, and that the same
was adopted by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
_______________________________
Candice Alvarez, MMC, Secretary
Stradling Yocca Carlson & Rauth
Draft of 4/6/21
PRELIMINARY OFFICIAL STATEMENT DATED APRIL __, 2021
NEW ISSUE – BOOK ENTRY ONLY Rating: S&P: “__”
See “RATING” herein.
In the opinion of Stradling Yocca Carlson & Rauth, a Professiona l Corporation, Newport Beach, California (“Bond Counsel”),
under existing statutes, regulations, rulings and judicial decisions, interest on the Bonds is not excluded from gross income for federal
income tax purposes but is exempt from State of California personal income tax. See “TAX MATTERS” herein.
$10,555,000*
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BONDS
(FEDERALLY TAXABLE)
Dated: Date of Delivery Due: September 2, as shown inside cover
The City of Lake Elsinore Reassessment District No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds (Federally Taxable) (the “Bonds”)
are limited obligations of the City of Lake Elsinore (the “City”) secured by special reassessments to be levied on real property located within City of Lake Elsinore
Reassessment District No. 2021-1 (Canyon Hills) (the “Reassessment District”). The Bonds are being issued to defease and redeem the City’s Assessment District
No. 93-1 Limited Obligation Refunding Improvement Bonds, 2012 Series A (the “Prior Bonds”). The proceeds of the Prior Bonds were used to refund a prior
series of limited obligation refunding bonds issued by the City.
The Bonds are being issued pursuant to provisions of the Refunding Act of 1984 for 1915 Improvement Act Bonds (Division 11.5 of the Streets and
Highways Code of California) (the “Act”) and an Indenture dated as of May 1, 2021 (the “Indenture”) by and between the City and Wilmington Trust, National
Association as Trustee (the “Trustee”). The Bonds will be issued in fully registered form and when issued will be registered in the name of Cede & Co., as nominee
of The Depository Trust Company, New York, New York (“DTC”). Individual purchases of ownership interests in the Bonds may be made in $5,000 integral
multiples in book-entry form only. Purchasers of the Bonds will not receive certificates representing their beneficial ownership of the Bonds but are expected to
receive credit balances on the books of their respective nominees. The Bonds will not be transferable or exchangeable except for transfer to another nominee of
DTC or as otherwise described in this Official Statement. Interest on the Bonds will be payable on September 2, 2021 and on each March 2 and September 2
thereafter. Principal of and interest on the Bonds will be paid by the Trustee to DTC for subsequent disbursement to DTC Participants, who are to remit such
payments to the beneficial owners of the Bonds. See “THE BONDS — General Provisions” and APPENDIX E — “BOOK-ENTRY ONLY SYSTEM”.
The Bonds are special obligations of the City payable solely from revenues derived from installments of Reassessments (as def ined in this Official
Statement) to be levied on and collected from the owners of parcels within the Reassessment District. Under the provisions of the Act installments of principal
and interest sufficient to meet annual Bond debt service will be levied by the City and billed by the County of Riverside (the “County”) to owners of property
within the Reassessment District against which there are unpaid Reassessments. Upon receipt by the City from the County, these annual Reassessment installments
are to be paid into the Redemption Fund to be held by the Trustee and u sed to pay debt service on the Bonds as it becomes due. In addition to the Reassessments,
the Bonds will be initially secured by a pledge and lien on the Prior Reassessments levied within the Prior Assessment District (as defined in this Official Statement)
in fiscal year 2020-21 which have not been collected as of the date of delivery of the Bonds.
Unpaid Reassessments constitute fixed liens on the lots and parcels assessed within the Reassessment District and do not constitute a personal
indebtedness of the respective owners of such lots and parcels. Accordingly, in the event of a delinquency, proceedings may be had only against the real
property securing the delinquent Reassessment installment. Thus, the value of land within the Reassessment District is a critical factor in determining
the investment quality of the Bonds. See “THE REASSESSMENT DISTRICT — Value-to-Reassessment Lien Ratios” and “SPECIAL RISK FACTORS
— Land Values”.
The Trustee will establish a Reserve Fund comprised of Bond proceeds in the amount of the Reserve Requirement (as defined in this Official Statement)
to provide funds for payment of principal and interest on the Bonds in the event of any delinquent Reassessment installments. The City’s obligation to advance
funds to the Redemption Fund as a result of delinquent installments is limited to the balance in the Reserve Fund. The City has covenanted to initiate judicial
foreclosure in the event of a delinquency. See “SECURITY FOR THE BONDS — Covenant to Foreclose and Court Foreclosure Proceedings.”
The Bonds are subject to optional redemption, mandatory sinking fund redemption and extraordinary mandatory redemption from p repayments of
Reassessments. See “THE BONDS — Redemption of Bonds”.
NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE CITY OF LAKE ELSINORE, THE COUNTY OF
RIVERSIDE, THE STATE OF CALIFORNIA OR ANY POLITICAL SUBDIVISIONS THEREOF IS PLEDGED TO THE PAYMENT OF THE
BONDS. THE BONDS ARE SPECIAL OBLIGATIONS OF THE CITY PAYABLE SOLELY FROM THE SOURCES DESCRIBED IN THE
INDENTURE.
This cover page contains certain information for quick reference only. It is not a summary of this issue. Investors must re ad the entire Official
Statement, including, without limitation, “SPECIAL RISK FACTORS,” to obtain information essential to the making of an informed investment decision.
The Bonds are offered when, as and if issued and delivered to the Underwriter subject to the approval of Stradling Yocca Carl son & Rauth, a
Professional Corporation, Newport Beach, California, Bond Counsel and Disclosure Counsel. Certain legal matters will be passed on for the City by Leibold,
McClendon, & Mann, Irvine, California, City Attorney, for the Underwriter by its counsel, Kutak Rock LLP, Irvine, California and for the Trustee by its counsel.
It is anticipated that the Bonds in book-entry form will be available for delivery through the facilities of DTC on or about May __, 2021.
[Stifel Logo]
Dated: May __, 2021
* Preliminary, subject to change This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold, nor may offers to buy them be accepted, prior to the time the Official Statement is delivered in final form. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
$10,555,000*
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BONDS
(FEDERALLY TAXABLE)
MATURITY SCHEDULE
Maturity Date
(September 2)
Principal
Amount Interest Rate Yield CUSIP†
* Preliminary, subject to change
CITY OF LAKE ELSINORE
ELECTED OFFICIALS
Robert E. Magee, Mayor
Timothy J. Sheridan, Mayor Pro-Tem
Steve Manos, Council Member
Natasha Johnson, Council Member
Brian Tisdale, Council Member
_____________________
CITY OFFICIALS
Jason Simpson, City Manager
_____________
CITY ATTORNEY
Leibold, McClendon, & Mann
Irvine, California
_____________
BOND COUNSEL AND DISCLOSURE COUNSEL
Stradling Yocca Carlson & Rauth,
a Professional Corporation
Newport Beach, California
_____________
TRUSTEE
Wilmington Trust, National Association
Costa Mesa, California
_________________
REASSESSMENT ENGINEER
Spicer Consulting Group, LLC
Temecula, California
_________________
MUNICIPAL ADVISOR
Urban Futures, Inc.
Tustin, California
_________________
VERIFICATION AGENT
Causey Demgen & Moore P.C.
Denver, Colorado
No dealer, broker, salesperson or other person has been authorized by the City, the Trustee or the Underwriter
to give any information or to make any representations in connection with the offer or sale of the Bonds other than
those contained herein and, if given or made, such other information or rep resentations must not be relied upon as
having been authorized by the City, the Trustee or the Underwriter. This Official Statement does not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Bonds by a person in any jurisdiction
in which it is unlawful for such person to make such an offer, solicitation or sale.
This Official Statement is not to be construed as a contract with the purchasers or Owners of the Bonds.
Statements contained in this Official Statement which involve estimates, forecasts or matters of opinion, whether or
not expressly so described herein, are intended solely as such and are not to be construed as representations of fact.
This Official Statement, including any supplement or amendment hereto, is intended to be filed with and made publicly
available through the Electronic Municipal Market Access system of the Municipal Securities Rulemaking Board .
The Underwriter has provided the following sentence for inclusion in this Official Sta tement:
The Underwriter has reviewed the information in this Official Statement in accordance
with, and as part of, its responsibilities to investors under the federal securities laws as applied to
the facts and circumstances of this transaction, but the Underwriter does not guarantee the accuracy
or completeness of such information.
The information set forth herein which has been obtained by the City from third party sources is believed to
be reliable but is not guaranteed as to accuracy or completeness by the City or the Trustee. The information and
expressions of opinion herein are subject to change without notice and neither the delivery of this Official Statement
nor any sale made hereunder shall, under any circumstances, create any implication that th ere has been no change in
the affairs of the City, the landowners within the Reassessment District or any other parties described herein since the
date hereof. All summaries of the Indenture or other documents are made subject to the provisions of such documents
respectively and do not purport to be complete statements of any or all of such provisions. Reference is hereby made
to such documents on file with the City for further information in connection therewith.
A wide variety of other information, including financial information, concerning the City, is available from
publications and websites of the City and others. Any such information that is inconsistent with the information set
forth in this Official Statement should be disregarded. No such infor mation is a part of or incorporated into this
Official Statement.
Certain statements included or incorporated by reference in this Official Statement constitute “forward-
looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section
21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities
Act of 1933, as amended. Such statements are generally identifiable by the terminology used such as “plan,” “expect,”
“estimate,” “project,” “budget” or other similar words. Such forward-looking statements include, but are not limited
to, certain statements contained in the information under the caption “THE REASSESSMENT DISTRICT.” The
achievement of certain results or other expectations contained in such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause actual results, performance or achievements described
to be materially different from any future results, performance or achievements expressed or implied by such forward -
looking statements. Except as set forth in the Continuing Disclosure Certificate, a form of which is attached as
Appendix F, the City does not plan to issue any updates or revisions to the forward-looking statements set forth in this
Official Statement.
IN CONNECTION WITH THE OFFERING OF THE BONDS, THE UNDERWRITER MAY
OVERALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICE OF
SUCH BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN
MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME.
THE BONDS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, IN RELIANCE UPON AN EXEMPTION CONTAINED IN SUCH ACT. THE BONDS HAVE NOT
BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES LAWS OF ANY STATE.
TABLE OF CONTENTS
i
INTRODUCTION ........................................................ 1
General ...................................................................... 1
Forward Looking Statements .................................... 1
The Reassessment District ........................................ 2
Property Values and Value-to-Reassessment Lien
Ratios .................................................................... 2
No Additional Bonds ................................................ 3
Tax Matters ............................................................... 3
Professionals Involved in the Offering ..................... 3
Continuing Disclosure .............................................. 3
Bond Owner’s Risks ................................................. 3
Other Information ..................................................... 4
REFUNDING PLAN .................................................... 4
Estimated Sources and Uses of Funds ...................... 5
THE BONDS ................................................................ 5
General ...................................................................... 5
Redemption of Bonds ............................................... 6
Purchase of Bonds .................................................... 6
Notice of Redemption ............................................... 6
Selection of Bonds for Redemption .......................... 7
Registration, Exchange or Transfer .......................... 7
Annual Debt Service ................................................. 8
SECURITY FOR THE BONDS ................................... 8
Limited Obligation .................................................... 8
Reassessment Liens and Installments ....................... 8
Limited Obligation Upon Delinquency ..................... 9
Reserve Fund ............................................................ 9
Covenant to Foreclose and Court Foreclosure
Proceedings ......................................................... 10
Priority of Reassessment Lien................................. 12
No Additional Bonds .............................................. 12
Maximum Annual Reassessment for
Administrative Costs and Expenses .................... 12
THE REASSESSMENT DISTRICT .......................... 12
Description of the Reassessment District ................ 12
Direct and Overlapping Indebtedness ..................... 13
Value-to-Reassessment Lien Ratios ........................ 15
Delinquencies in the Reassessment District ............ 17
Tax Rates ................................................................ 18
SPECIAL RISK FACTORS ....................................... 18
General .................................................................... 18
Risks of Real Estate Secured Investments
Generally ............................................................. 19
COVID-19 (Coronavirus) Pandemic ...................... 19
Delinquency Resulting in Ultimate or Temporary
Loss on Bonds ..................................................... 20
Non-Cash Payments of Reassessments ................... 20
Limited City Obligation Upon Delinquency ........... 20
Land Values ............................................................ 20
Bankruptcy and Foreclosure ................................... 21
FDIC/Federal Government Interests in Parcels ...... 21
Natural Disasters ..................................................... 22
Hazardous Substances ............................................. 23
Limited Secondary Market ..................................... 23
Future Debt Issuance............................................... 23
Proposition 218 ....................................................... 24
Ballot Initiatives and Legislative Measures ............. 24
Limited Secondary Market ...................................... 25
Potential Early Redemption of Bonds from
Prepayments of Reassessments ............................ 25
Disclosures to Future Purchasers ............................. 25
Payment of the Reassessments is not a Personal
Obligation of the Owners ..................................... 25
Suspension of Penalties and Interest ........................ 25
Cyber Security ......................................................... 26
CONTINUING DISCLOSURE .................................. 26
LEGAL OPINION ...................................................... 27
TAX MATTERS ......................................................... 27
LITIGATION .............................................................. 28
FINANCIAL INTERESTS ......................................... 28
RATING ...................................................................... 28
VERIFICATION ......................................................... 28
MUNICIPAL ADVISOR ............................................ 28
UNDERWRITING ...................................................... 29
MISCELLANEOUS .................................................... 29
APPENDIX A REASSESSMENT DIAGRAM ... A-1
APPENDIX B EXCEPTS FROM
REASSESSMENT REPORT ...... B-1
APPENDIX C SUMMARY OF THE
INDENTURE ............................... C-1
APPENDIX D OPINION OF BOND
COUNSEL ................................... D-1
APPENDIX E BOOK-ENTRY ONLY
SYSTEM ...................................... E-1
APPENDIX F FORM OF CONTINUING
DISCLOSURE CERTIFICATE ... F-1
APPENDIX G INFORMATION
CONCERNING THE CITY OF
LAKE ELSINORE AND
COUNTY OF RIVERSIDE ......... G-1
REASSESSMENT DISTRICT AERIAL
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$10,555,000*
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BONDS
(FEDERALLY TAXABLE)
INTRODUCTION
General
This introduction is not a summary of this Official Statement. It is only a brief description of and guide
to, and is qualified by, more complete and detailed information contained in the entire Official Statement,
including the appendices. A full review should be made of the entire Official Statement. The sale and delivery
of the Bonds (defined below) to potential investors is made only by means of the entire Official Statement. All
capitalized terms used in this Official Statement and not defined shall have the meaning set forth in the Indenture.
The purpose of this Official Statement, which includes the cover page, the table of contents and the
attached appendices (collectively, the “Official Statement”), is to provide certain information concerning the
issuance by the City of Lake Elsinore (the “City”) of the $10,555,000* City of Lake Elsinore Reassessment
District No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds (Federally Taxable) (the “Bonds”).
The proceeds of the Bonds, together with certain existing funds of the City, will be used to defease all of the
City’s outstanding Assessment District No. 93-1 Limited Obligation Refunding Improvement Bonds, 2012
Series A (the “Prior Bonds”) originally issued on November 29, 2012 in the aggregate principal amount of
$15,345,000 and now outstanding in the principal amount of $10,560,000. A portion of the proceeds of the
Bonds will be used to fund a deposit to the Reserve Fund for the Bonds and to pay the costs of issuing the Bonds.
See “THE REFUNDING PLAN” and “ESTIMATED SOURCES AND USES OF FUNDS”.
The Bonds are to be issued under the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division
11.5 of the Streets and Highways Code of California (the “Act”), and pursuant to an Indenture by and between
the City and Wilmington Trust, National Association (the “Trustee”), dated as of May 1, 2021 (the “Indenture”).
The Bonds are secured under the Indenture by a pledge of and lien upon the Reassessments (as defined in this
Official Statement) and all moneys on deposit in the Reassessment Fund, the Redemption Fund and the Reserve
Fund established pursuant to the Indenture. In addition to the Reassessments, the Bonds will be initially secured
by a pledge and lien on the Prior Reassessments levied within the Prior Assessment District (as defined in this
Official Statement) in fiscal year 2020-21 which have not been collected as of the date of delivery of the Bonds.
See “SECURITY FOR THE BONDS.”
Forward Looking Statements
Certain statements included or incorporated by reference in this Official Statement constitute “forward-
looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995,
Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United
States Securities Act of 1933, as amended. Such statements are generally identifiable by the terminology used
such as a “plan,” “expect,” “estimate,” “project,” “budget” or similar words. Such forward-looking statements
include, but are not limited to certain statements contained in the information under the caption “THE
REASSESSMENT DISTRICT.”
THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER EXPECTATIONS CONTAINED IN
SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS,
* Preliminary, subject to change
2
UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS,
PERFORMANCE OR ACHIEVEMENTS DESCRIBED TO BE MATERIALLY DIFFERENT FROM ANY
FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS. THE CITY DOES NOT PLAN TO ISSUE ANY UPDATES OR
REVISIONS TO THE FORWARD-LOOKING STATEMENTS SET FORTH IN THIS OFFICIAL
STATEMENT.
The Reassessment District
The City of Lake Elsinore Reassessment District No. 2021-1 (Canyon Hills) (the “Reassessment
District”) includes all of the property within Assessment District No. 93-1 (Canyon Hills) (the “Prior Assessment
District”). The Reassessment District generally encompasses the Canyon Hills master-planned community
within the City covering approximately 1,969 acres. Canyon Hills is located in the southeast portion of the City
to the south of the City of Canyon Lake. Development within the Reassessment District is substantially
completed and includes 3,414 parcels consisting of primarily of residential homes. As of March 1, 2021, there
were 2,812 single family homes, 585 multifamily units, 14 parcels of commercial property and three parcels of
undeveloped property (totaling approximately 155 acres).
In 1993, the City undertook proceedings for the formation of City of Lake Elsinore Assessment District
No. 93-1 (the “Assessment District”) pursuant to the Municipal Improvement Act of 1913, Division 12 of the
California Streets and Highways Code (the “1913 Act”) in order to finance a portion of the costs of Railroad
Canyon Road (the “Improvement”). In 1993, the City issued its City of Lake Elsinore Assessment District No.
93-1 (Cottonwood Hills) Limited Obligation Improvement Bonds, Series A and Series B (the “1993 Bonds”) to
finance a portion of the costs of the Improvement. In 2000, the City issued its City of Lake Elsinore Assessment
District No. 93-1 (Canyon Hills) Limited Obligation Refunding Improvement Bonds, Series 2000 (the “2000
Bonds”) pursuant to the Act to refund the 1993 Bonds. In 2012, the City issued the Prior Bonds to refund the
2000 Bonds. The Prior Bonds were issued in connection with the issuance by the Lake Elsinore Public
Financing Authority’s Local Agency Revenue Refunding Bonds (Assessment District No. 93-1), 2012 Series B
(the “Prior Authority Bonds”). In connection with the issuance of the Prior Bonds, pursuant to the Act, the City
confirmed a reassessment on the property within the Assessment District (the “Prior Reassessments”). The Prior
Bonds are secured by the unpaid Prior Reassessments levied within the Assessment District.
On April 13, 2021, the City Council took proceedings under the Act and confirmed a reassessment,
which reassessment and a related diagram were recorded in the office of the City Manager, acting as the
Superintendent of Streets, and with the County Recorder of the County of Riverside. Each Reassessment
supersedes and supplants the Prior Reassessments originally confirmed upon the applicable parcel. The Bonds
are secured by the Reassessments; and installments of the Reassessments.
Pursuant to the 1984 Act the City may issue refunding bonds for the purpose of redeeming the Prior
Bonds. The City may issue and sell refunding bonds without giving notice to and conducting a hearing for the
owners of property in the Reassessment District or giving notice to the owners of the Bonds if the City Council
makes the findings required in the Act.
Property Values and Value-to-Reassessment Lien Ratios
The aggregate assessed value of the parcels in the City with unpaid Reassessments, as shown in the
County of Riverside assessor’s roll for fiscal year 2020-21, is $1,270,123,589. The ratio of the assessed value
of such parcels to the total amount of the unpaid Prior Reassessments, is approximately 120.33:1 (exclusive of
the unpaid reassessments for fiscal year 2020-21 and overlapping debt described herein). Including the
overlapping debt described herein, the ratio of the assessed value of such parcels to the total amount of the unpaid
Prior Reassessments and the overlapping debt is approximately 12.97:1. See “THE REASSESSMENT
DISTRICT — Value-to-Reassessment Lien Ratios”.
3
No Additional Bonds
The City is not authorized to issue additional bonds (other than the Bonds or any refunding bonds)
secured by the Reassessments.
Tax Matters
In the opinion of Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach,
California (“Bond Counsel”), under existing statutes, regulations, rulings and judicial decisions, interest on the
Bonds is not excluded from gross income for federal income tax purposes but is exempt from State of California
personal income tax. Set forth in Appendix D is the opinion of Bond Counsel expected to be delivered in
connection with the issuance of the Bonds. For a more complete discussion of such opinion and the tax
consequences incident to the ownership of the Bonds, including certain exceptions to the tax treatment of interest,
see “TAX MATTERS”.
Professionals Involved in the Offering
Wilmington Trust, National Association, Costa Mesa, California, will act as Trustee under the
Indenture. The legal proceedings in connection with the issuance and delivery of the Bonds are subject to the
approval as to their legality of Stradling Yocca Carlson & Rauth, a Professional Corporation, Newport Beach,
California, Bond Counsel and Disclosure Counsel. Certain legal matters will be passed on for the City by
Leibold, McClendon, & Mann, Irvine, California, City Attorney, for the Underwriter by its counsel, Kutak Rock
LLP, Irvine, California and for the Trustee by its counsel. Other professional services have been performed by
Spicer Consulting Group, LLC, as Reassessment Engineer and Causey Demgen & Moore P.C., as Verification
Agent.
For information concerning financial or other interest which certain of the above-mentioned
professionals, advisors, counsel and agents may have in the offering of the Bonds, see “FINANCIAL
INTERESTS”.
Continuing Disclosure
The City will enter into execute and deliver the Continuing Disclosure Certificate and will covenant
therein for the benefit of holders and beneficial owners of the Bonds to provide certain financial information and
operating data relating to the City and the Reassessment District by not later than February 15 following the end
of its fiscal year (which currently ends June 30), commencing with the report for the 2020-21 Fiscal Year (the
“Annual Report”), and to provide notices of the occurrence of certain enumerated events. The first Annual
Report will be due February 15, 2022. The Annual Report and notices of certain listed events (the “Listed
Events”) will be filed with the Electronic Municipal Market Access System of the Municipal Securities
Rulemaking Board available on the Internet at http://emma.msrb.org (“EMMA”). These covenants will be made
in order to assist the Underwriter in complying with SEC Rule 15c2 12(b)(5) (the “Rule”). See “CONTINUING
DISCLOSURE” herein and Appendix F hereto for a description of the specific nature of the annual reports and
notices of enumerated events to be provided by the City.
Bond Owner’s Risks
Certain events could affect the timely repayment of the principal of and interest on the Bonds when due.
See the caption “SPECIAL RISK FACTORS” for a discussion of certain factors which should be considered, in
addition to other matters set forth herein, in evaluating an investment in the Bonds. The purchase of the Bonds
involves risks, and the Bonds are not suitable investments for some types of investors. See “SPECIAL RISK
FACTORS”.
4
Other Information
This Official Statement speaks only as of its date, and the information contained herein is subject to
change.
Brief descriptions of the Bonds and the Indenture are included in this Official Statement. Such
descriptions and information do not purport to be comprehensive or definitive. All references herein to the
Indenture, the Bonds and the constitution and laws of the State as well as the proceedings of the City Council of
the City, are qualified in their entirety by references to such documents, laws and proceedings, and with respect
to the Bonds, by reference to the Indenture. Capitalized terms not otherwise defined herein shall have the
meanings set forth in the Indenture.
Copies of the Indenture, the Continuing Disclosure Certificate and other documents and information
referred to herein are available for inspection and (upon request and payment to the Trustee of a charge for
copying, mailing and handling) for delivery from the Trustee.
REFUNDING PLAN
The Bonds are being issued to provide a portion of the moneys, together with certain funds on deposit
with Wilmington Trust, National Association, acting as escrow agent (the “Escrow Agent”), to refund the City’s
outstanding Prior Bonds. The Prior Bonds were issued upon and are secured by the unpaid Prior Reassessments
levied on property in the Assessment District, pursuant a Fiscal Agent Agreement dated as of November 1, 2012,
by and between the City and Wilmington Trust, National Association.
Pursuant to the Indenture, the City will deliver a portion of the proceeds of the Bonds to the Trustee to
transfer to the Escrow Agent for deposit in an escrow fund established for the Prior Bonds (the “Escrow Fund”)
established under the Escrow Agreement, dated as of May 1, 2021, by and among the City, the Authority and
the Escrow Agent (the “Escrow Agreement”). Moneys on deposit in the Escrow Fund, together with certain
funds held as cash, will be used to pay on September 2, 2022, the regularly scheduled principal of and interest
on the Prior Bonds, and to redeem the Prior Bonds maturing on September 2, 2030 at a redemption price equal
to the principal amount to be redeemed. The defeasance and redemption of the Prior Bonds will cause a
simultaneous defeasance and redemption of the Prior Authority Bonds.
The moneys on deposit in the Escrow Fund and such other funds held as cash that together will be used
as described in the immediately preceding sentence, will be sufficient in the opinion of Causey Demgen & Moore
P.C., the Verification Agent, to provide for the defeasance and redemption on September 2, 2022 of the Prior
Bonds and the Prior Authority Bonds. All moneys and securities on deposit in the Escrow Fund will be
irrevocably pledged to secure, when due, the payment of the principal of, interest and any premium due with
respect to the Prior Bonds.
As a result of the deposit and investment of funds under the Escrow Agreement, all of the City’s
obligations with respect to the Prior Bonds, including the pledge of unpaid Prior Reassessments which secure
the City’s obligations with respect to the Prior Bonds, will be fully discharged upon the execution and delivery
of the Bonds.
5
Estimated Sources and Uses of Funds
The Trustee will receive the proceeds from the sale of the Bonds upon delivery of such Bonds to the
purchasers thereof. The proceeds of the Bonds will be applied as set forth in the following table:
SOURCES:
Par Amount of Bonds $
Plus Available Funds(1)
Less Underwriter’s Discount
Total Sources $
USES:
Escrow Fund $
Debt Service Reserve Fund
Costs of Issuance Fund(2)
Total Uses $
(1) Includes amounts in funds established with respect to the Prior Authority Bonds and the Prior Bonds.
(2) Includes costs of issuance, such as Trustee, Bond Counsel and Disclosure Counsel fees and costs, printing costs and other
related costs for the issuance of Bonds, reimbursable expenses of the City and certain upfront design and engineering costs.
THE BONDS
General
The $10,555,000* aggregate principal amount of the Bonds was authorized for issuance by a resolution
adopted by the City Council of the City and are being issued by the City pursuant to the Act and the Indenture
between the City and the Trustee.
The Bonds will be dated their date of delivery and mature on September 2 in the years and in the amounts
shown on the inside cover page of this Official Statement. Interest is payable on September 2, 2022, and each
March 2 and September 2 thereafter. The Bonds are issued as fully registered bonds, in integral multiples of
$5,000.
Each Bond will bear interest from the Interest Payment Date next preceding the date of authentication
and registration thereof unless (i) it is authenticated after a Record Date and on or before the immediately
succeeding Interest Payment Date, in which event it will bear interest from such Interest Payment Date, or (ii) it
is authenticated before the close of business on the first Record Date, in which event it will bear interest from its
dated date; provided, however, that if at the time of authentication of a Bond, interest is in default thereon, such
Bond will bear interest from the Interest Payment Date to which interest has previously been paid or made
available for payment thereon or from the date of original delivery of the Bonds, if no interest has previously
been paid or made available for payment on the Outstanding Bonds.
Interest on the Bonds is payable by the Trustee on each Interest Payment Date, until the principal amount
of a Bond has been paid or made available for payment, to the registered Owner thereof at such registered
Owner’s address as it appears on the registration books maintained by the Trustee at the close of the Business
Day on the Record Date preceding the Interest Payment Date. The Bonds will be held in book-entry form and
registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”), all interest
* Preliminary, subject to change.
6
payments will be made directly to DTC for distribution to the beneficial owners in accordance with DTC’s
procedures. See APPENDIX E — “BOOK-ENTRY ONLY SYSTEM”.
Redemption of Bonds
Optional Redemption of Bonds from Other Funds, Excluding Reassessment Prepayments. The
Bonds are subject to redemption prior to their stated maturity dates on any Interest Payment Date on or after
September 2, 20__, as selected by the City, from any source of funds other than prepayment of Reassessments,
at a redemption price equal to the principal amount of the Bonds to be redeemed, plus accrued interest thereon
to the date of redemption, without premium.
Mandatory Redemption From Reassessment Prepayments. The Bonds are subject to mandatory
redemption, in whole or in part as selected by the Treasurer pursuant to Section 8768 of the California Streets
and Highways Code, on any Interest Payment Date, from and to the extent of any prepayment of Reassessments,
at the following respective redemption prices (expressed as percentages of the principal amount of the Bonds to
be redeemed), plus accrued interest thereon to the date of redemption:
Redemption Date Redemption Prices
September 2, 20__ through March 2, 20__ %
September 2, 20__ through March 2, 20__
September 2, 20__ through March 2, 20__
September 2, 20__ and thereafter
Mandatory Sinking Fund Redemption of Bonds. The Bonds maturing on September 2, 20__ are
subject to mandatory sinking fund redemption prior to maturity, in part, on September 2, 20__, and on each
September 2 thereafter, from sinking fund payments, at a redemption price equal to the principal amount of
Bonds to be redeemed, together with accrued interest to the date of redemption, without premium, as follows:
20__ Term Bond
Redemption Date
(September 2)
Redemption
Amount
Purchase of Bonds
In lieu, or partially in lieu, of such call and redemption, moneys deposited in the Redemption Fund may
be used to purchase Outstanding Bonds in the manner hereinafter provided. Purchases of Outstanding Bonds
may be made by the City prior to the selection of Bonds for redemption by the Trustee, at public or private sale
as and when and at such prices as the City may in its discretion determine, but only at prices (including brokerage
or other expenses) of not more than par, plus the premium, if any, which would be payable with respect to such
Bonds upon the redemption thereof, plus accrued interest, and any accrued interest payable upon the purchase
of Bonds may be paid from the amount in the Interest Account of the Redemption Fund for payment of interest
on the next following Interest Payment Date. The Trustee shall disburse moneys in the Prepayment Account for
such purpose upon written direction of the City.
Notice of Redemption
The City will give the Trustee written notice of its intention to redeem Bonds under the Indenture at
least forty-five (45) days prior to the date fixed for such redemption, or such lesser number of days as permitted
7
by the Trustee. When Bonds are to be called for redemption, the Trustee will give notice, on behalf of the City,
of the redemption of such Bonds. Such notice of redemption will (a) state the date fixed for redemption and for
surrender of the Bonds to be redeemed; (b) state the redemption price; (c) state the place or places where the
Bonds are to be surrendered for redemption; and (d) in the case of Bonds to be redeemed only in part, state the
portion of such Bond which is to be redeemed. Such notice will further state that on the date fixed for
redemption, there will become due and payable on each Bond or portion thereof called for redemption, the
principal thereof, together with any premium, and interest accrued to the redemption date, and that from and
after such date, interest thereon will cease to accrue and be payable. At least thirty (30) days but no more than
sixty (60) days prior to the redemption date, the Trustee will mail a copy of such notice, by registered or certified
mail, postage prepaid, to the respective Owners of Bonds selected for redemption at their addresses appearing
on the Bond Register. The actual receipt by the Owner of any Bond of notice of such redemption will not be a
condition precedent thereto, and failure to receive such notice will not affect the validity of the proceedings for
the redemption of such Bonds, or the cessation of interest on the redemption date. A certificate by the Trustee
that notice of such redemption has been given as provided in the Indenture will be conclusive as against all
parties.
A notice of redemption for a redemption of Bonds may be conditioned upon receipt by the City of
sufficient funds to effect the redemption. If sufficient funds are not on deposit with the Trustee at least one day
prior to the redemption date, the redemption will not occur and the Bonds will remain Outstanding. If any
redemption is cancelled due to a lack of sufficient funds, the Trustee will mail a notice to the Owners stating that
such redemption was cancelled and did not occur.
Notices of redemption of Bonds registered in the name of DTC’s nominee will be sent by the Trustee
only to DTC, or its nominee, and not to the owners of beneficial interests in the Bonds. Notice of redemption
will be provided to such beneficial owners only in accordance with the procedures governing the DTC book-
entry system.
Selection of Bonds for Redemption
The Bonds of a maturity shall be selected for mandatory sinking fund redemption by lot. If less than all
of the Outstanding Bonds are to be redeemed other than pursuant to mandatory sinking fund redemption, the
City shall designate the principal amount of Bonds of each maturity to be redeemed as provided for in Section
8768 of the 1915 Act such that the ratio of Outstanding Bonds to issued Bonds shall be approximately the same
in each maturity of the Bonds insofar as possible, and the Trustee shall select the particular Bonds to be redeemed
from each maturity in authorized denominations and in said designated amount by lot in such manner as the
Trustee may choose. The City shall provide written notice to the Trustee at least forty-five days prior to a
redemption date for the Bonds (other than mandatory sinking fund redemption). The Trustee shall promptly
notify the City in writing of the Bonds, or portions thereof, selected for redemption.
Registration, Exchange or Transfer
The registration of any Bond may, in accordance with its terms, be transferred upon the Bond Register
by the person in whose name it is registered, in person or by his or her duly authorized attorney, upon surrender
of such Bond for cancellation at the office of the Trustee, accompanied by delivery of a written instrument of
transfer in a form acceptable to the Trustee and duly executed by the Bondowner or his or her duly authorized
attorney.
Bonds may be exchanged at the office of the Trustee for a like aggregate principal amount of Bonds of
other authorized denominations of the same maturity. The Trustee will not charge the Owner for any new Bond
issued upon any exchange or transfer, but will require the Owner requesting such exchange or transfer to pay
any tax or other governmental charge required to be paid with respect to such exchange or transfer. The cost of
printing any Bonds and any services rendered or any expenses incurred by the Trustee in connection with any
exchange or transfer will be paid by the City as Administrative Expenses. Whenever any Bond or Bonds is
8
surrendered for registration of transfer or exchange, the City will execute, and the Trustee will authenticate and
deliver, a new Bond or Bonds of the same maturity for a like aggregate principal amount; provided, that the
Trustee will not be required to register transfers or make exchanges of Bonds (a) 15 days prior to the date
established by the Trustee for selection of Bonds for redemption, or (b) with respect to a Bond after such Bond
has been selected for redemption.
Annual Debt Service
Table 1 below sets forth the annual debt service on the Bonds based on the maturity schedule and interest
rates set forth on the inside cover page of this Official Statement.
TABLE 1
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1(CANYON HILLS)
ANNUAL DEBT SERVICE
Annual Debt Service
Year Ending
September 2 Principal Interest Total
Total
Source: Underwriter.
SECURITY FOR THE BONDS
Limited Obligation
The obligation of the City relating to the Bonds is not a general obligation of the City, but is a limited
obligation, payable solely from the Reassessments and from the funds pledged under the Indenture. Neither the
faith and credit nor the taxing power of the City, the County or the State of California, or any of its political
subdivisions, is pledged to the payment of the Bonds. Notwithstanding any other provision of the Indenture,
the City is not obligated to advance available surplus funds from the City treasury to cure any deficiency
in the Redemption Fund.
Reassessment Liens and Installments
The Bonds are issued upon and secured by and payable solely from the unpaid Reassessments on parcels
of property within the Reassessment District together with accrued interest, and such unpaid Reassessments,
together with accrued interest, constitute a fund for the redemption and payment of the principal of the Bonds
and related interest and premium, if any. The Bonds will also be initially secured by a pledge and lien on the
Prior Reassessments levied within the Prior Assessment District in fiscal year 2020-21 which have not been
collected as of the date of delivery of the Bonds. In addition, all of the Bonds are secured by the moneys in the
9
Reassessment Fund, the Redemption Fund and the Reserve Fund created pursuant to the Indenture. Principal of
and interest on the Bonds are payable exclusively from the Redemption Fund.
Although the unpaid Reassessments and Prior Reassessments constitute fixed liens on the lots and
parcels assessed, they do not constitute a personal indebtedness of the respective owners of such lots and parcels.
There can be no assurance as to the ability or the willingness of such owners to pay the unpaid Reassessments
and Prior Reassessments when due. See “SPECIAL RISK FACTORS”.
The unpaid Reassessments and Prior Reassessments will be collected in annual installments, together
with interest, on the County secured tax roll on which general taxes on real property are collected
(the “Reassessment Installments”). The City will include in the annual installments an amount for the payment
of administrative expenses in the amount set forth in the Reassessment Report; such amounts are not available
to pay debt service on the Bonds. The Reassessment Installments are payable and become delinquent at the
same time and in the same proportionate amounts and bear the same proportionate penalties and interest after
delinquency as do general property taxes. The properties upon which the Reassessments and Prior
Reassessments are levied are subject to the same provisions for sale and redemption as are properties for
nonpayment of general taxes. The annual Reassessment Installments are to be paid to the City and transferred
by the City to the Trustee with instructions to deposit the balance remaining after the deposit of amounts into the
Administrative Expense Fund held by the City to pay administrative expenses into the Reassessment Fund. The
Trustee is to transfer amounts in the Reassessment Fund into the Redemption Fund held by the Trustee to pay
the principal of and interest on the Bonds as they become due.
The Reassessment Installments billed against each of the lots and parcels in the Reassessment District
each year represent a pro rata share of the total principal and interest coming due on all of the Bonds that year
(other than the Prior Reassessment installments which remain unpaid as of the date of delivery of the Bonds
which represented a pro rata share of the total principal and interest coming due of the Prior Bonds in fiscal year
2020-21). The amount billed against each lot or parcel is based on the percentage which the unpaid Reassessment
against the property bears to the total of unpaid Reassessments in the Reassessment District. The failure of a
property owner to pay an annual Reassessment Installment will not result in an increase in Reassessment
Installments against other property in the Reassessment District.
Each property owner has a statutory right to prepay the Reassessment on a parcel in whole or in part on
any date. Amounts received as prepaid Reassessments will be deposited in the Prepayment Account of the
Redemption Fund and shall be used solely for the purpose of redeeming Bonds. See “THE BONDS —
Redemption of Bonds — Mandatory Redemption from Reassessment Prepayments.”
Limited Obligation Upon Delinquency
THE BONDS ARE LIMITED OBLIGATIONS OF THE CITY AND ARE PAYABLE SOLELY
FROM THE REASSESSMENTS AND THE ASSETS PLEDGED THEREFOR UNDER THE INDENTURE.
THE CITY HAS DETERMINED NOT TO OBLIGATE ITSELF AND HAS NO LEGAL OR MORAL
OBLIGATION TO ADVANCE AVAILABLE FUNDS FROM THE CITY TREASURY TO PAY BOND
DEBT SERVICE IN THE EVENT OF DELINQUENT REASSESSMENT INSTALLMENTS.
BONDOWNERS SHOULD NOT RELY UPON THE CITY TO ADVANCE AVAILABLE FUNDS FROM
THE CITY TREASURY TO THE REDEMPTION FUND. NOTWITHSTANDING THE FOREGOING, THE
CITY MAY, AT ITS SOLE OPTION AND IN ITS SOLE DISCRETION, ELECT TO ADVANCE SUCH
FUNDS.
Reserve Fund
The Indenture provides that a Reserve Fund must be maintained and held by the Trustee in an amount
equal to the Reserve Requirement. The Reserve Requirement means that amount as of any date of calculation
equal to the lesser of: (i) 10% of the initial principal amount of the Bonds, if any; (ii) Maximum Annual Debt
10
Service on the then Outstanding Bonds, if any; (iii) 125% of average Annual Debt Service on the then
Outstanding Bonds and (iv) $_______, the initial Reserve Requirement. Moneys in the Reserve Fund will be
held for the benefit of the Owners of the Bonds as a reserve for the payment of the principal of and interest on
the Bonds and are subject to a lien in favor of the Owners of the Bonds. See APPENDIX C — “SUMMARY
OF INDENTURE.”
In the event a Reassessment is prepaid, in whole or in part, the City will transfer such payment to the
Trustee. The amount of each Reassessment prepaid will be reduced by the amount the Trustee is required to
transfer from the Reserve Fund for deposit in the Prepayment Account of the Redemption Fund. Under the
Indenture the Trustee is to transfer the portion of the balance then in the Reserve Fund equal to the proportion
that the Reassessment prepaid bears to the total of all Reassessments remaining unpaid as of such date. The City
will notify, or will cause the Trustee to be notified of the amount so transferred. After each such transfer, the
Reserve Requirement will be reduced by the amount of the related transfer.
Whenever there are insufficient funds in the Redemption Fund to meet the next maturing installment of
principal of or interest on the Bonds, the Trustee will transfer from the Reserve Fund or deposit in the
Redemption Fund an amount necessary to satisfy such deficiency. The City agrees in the Indenture that if such
insufficiency was caused by delinquent payment of Reassessment Installments, then an amount equal to the
amount so transferred will be reimbursed and transferred by the City to the Trustee for deposit in the Reserve
Fund from the proceeds of redemption or sale of the delinquent parcel.
In the event that moneys comprising the Reserve Fund and the moneys in the Redemption Fund and the
Reassessment Fund are sufficient to retire all of the Outstanding Bonds plus accrued interest thereon, such
moneys in the Reserve Fund and the Reassessment Fund shall at the Written Direction of City be transferred to
the Redemption Fund for the payment of the Bonds.
If at any time the amount of interest earned by the investment of any portion of the Reserve Fund,
together with the principal amount in the Reserve Fund, exceeds the Reserve Requirement, such excess will be
transferred by the Trustee to the Reassessment Fund each March 1 and September 1. See APPENDIX C —
“SUMMARY OF INDENTURE.”
Whenever the balance in the Reserve Fund, the Reassessment Fund and the Redemption Fund is
sufficient to retire all the remaining outstanding Bonds, the Trustee will transfer, at the written direction of the
City, the balance in the Reserve Fund to the Redemption Fund and the City will cease the collection of the
principal and interest on the unpaid Reassessments. In such case, the City will credit the balance so transferred
against the Reassessments remaining unpaid in the manner set forth in the Act.
THE CITY HAS NO OBLIGATION TO REPLENISH THE RESERVE FUND EXCEPT TO THE
EXTENT THAT DELINQUENT REASSESSMENT INSTALLMENTS ARE PAID OR PROCEEDS FROM
FORECLOSURE SALES ARE REALIZED.
Covenant to Foreclose and Court Foreclosure Proceedings
The 1913 Act provides that in the event any assessment or installment thereof or any interest thereon is
not paid when due, the City may order the institution of a court action to foreclose the lien of the unpaid
assessment. In such an action, the real property subject to the unpaid assessment may be sold at judicial
foreclosure sale. This foreclosure sale procedure is not mandatory. However, pursuant to the Indenture, the City
will covenant for the benefit of the Bondowners that it will determine or cause to be determined, not later than
August 15 of each fiscal year in which Bonds are Outstanding, whether or not any owners of the real property
within the Reassessment District are delinquent in the payment of Reassessment Installments. If such
delinquencies exist, the City will order and caused to be commenced an action in the superior court to foreclose
the lien of the Reassessment Installment(s) not paid when due, not later than the next following November 1, (i)
against any parcel that is subject to delinquencies of $5,000 or more; (ii) against any group of parcels under
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common ownership with an aggregate delinquencies of $5,000 or more; and (iii) against any parcel that is subject
to any amount of delinquency. Pursuant to the Indenture, the City will further covenant to diligently prosecute
any such foreclosure action to judgment and foreclosure sale. Upon the redemption or sale of the real property
responsible for such delinquencies, the City will first deposit to the Reserve Fund the amount of any delinquency
advanced therefrom and then disburse the remaining amount as set forth in the judgment of foreclosure or as
required by law.
The 1913 Act provides that the court in a foreclosure proceeding has the power to order property
securing delinquent Reassessment Installments to be sold for an amount not less than all Reassessment
Installments, interest, penalties, costs, fees, and other charges that are delinquent at the time the foreclosure
action is ordered, and certain other fees and amounts as provided therein (the “Minimum Price”). The court may
also include subsequent delinquent Reassessment Installments and all other delinquent amounts.
The City may, at its discretion, but is not required to, become the purchaser of any property sold in a
foreclosure proceeding. If the City becomes the purchaser, it will pay into the Redemption Fund an amount
necessary to satisfy the judgment, less any advances by the City to cover delinquent Reassessment Installments
plus simple interest on such net amount, at the interest rates borne by the Bonds, from the dates of delinquency.
Unless such property is subsequently resold, the City must transfer to the Redemption Fund any future
Reassessment Installments pending redemption. The City may thereupon be reimbursed for any amount
advanced from the City to the Redemption Fund to cover such future Reassessment Installments with respect to
the property so sold from the proceeds of such sale.
If the property is sold to a purchaser other than the City, the City will deposit the proceeds from the sale
of the property into the Redemption Fund. From such amount, the City will reimburse the Reserve Fund the
amount, if any, of funds advanced from the Reserve Fund to the Redemption Fund to cover the delinquent
Reassessment Installments with respect to the property which is sold. After reimbursement of the Reserve Fund,
the City may be reimbursed for any other amounts advanced from it to the Redemption Fund to cover delinquent
Reassessment Installments and interest with respect to the property sold in such proceedings. Any funds in
excess of the amount necessary to reimburse the City may be applied by the City to pay interest and penalties,
costs, fees and other charges, to the extent they were included in the sales proceeds.
If the property to be sold fails to sell for the Minimum Price, the City may petition the court to modify
the judgment so that the property may be sold at a lesser price or without a Minimum Price. Notice of the hearing
on such petition must be given to all Bondowners. In certain circumstances, the court may modify the judgment
after the hearing to permit the sale of the property at a price lower than the Minimum Price if the court makes
certain determinations, including determinations that the sale at less than the Minimum Price will not result in
an ultimate loss to Bondowners or that Bondowners of at least 75% of the principal amount of Bonds outstanding
have consented to the petition and certain other circumstances described in the statute exist. Neither the property
owner nor any holder of a security interest in the property nor any defendant in the foreclosure action may
purchase the property at the foreclosure sale for less than the Minimum Price.
A period of 120 days must elapse after the date notice of levy of the interest in real property is served
on the judgment debtor before the sale of such lot or parcel with more than 4 dwelling units can be made.
However, pursuant to Streets and Highways Code Section 8832, the 120 day period may be shortened to 20 days
for parcels with not more than 4 dwelling units. If the judgment debtor fails to redeem, and if the purchaser at
the sale is the judgment creditor (e.g., the City), an action may be commenced by the delinquent property owner
within 90 days after the date of sale to set aside such sale. The constitutionality of the repeal of the one year
redemption period has not been tested; and there can be no assurance that, if tested, such legislation will be
upheld.
In the event court foreclosure proceedings are commenced by the City, there may be delays in
payments to Owners of the Bonds pending prosecution of the foreclosure proceedings to completion,
12
including the receipt of the City of the proceeds of the foreclosure sale. It is also possible that no qualified
bid will be received at the foreclosure sale. See “SPECIAL RISK FACTORS”.
Priority of Reassessment Lien
The Reassessments (and any further assessment or reassessment) including each installment thereof and
any related interest and penalties constitute a lien against the lots and parcels of land on which they were imposed
until paid. Such lien has priority over all fixed special assessment liens which may thereafter be created against
the property, and also has priority over all private liens, including the lien of any mortgage or deed of trust
whenever created. Such lien is co-equal to and independent of the lien for general taxes and special taxes. See
“THE REASSESSMENT DISTRICT — Direct and Overlapping Indebtedness” and “SPECIAL RISK
FACTORS — FDIC/Federal Government Interests in Parcels.”
No Additional Bonds
The City is not authorized to issue additional bonds (other than the Bonds or any refunding bonds)
secured by the Reassessments. See “THE BONDS — Refunding Bonds” above.
Maximum Annual Reassessment for Administrative Costs and Expenses
The costs associated with administering the Reassessment District will be spread to each parcel in the
Reassessment District with unpaid Reassessments on a pro-rata basis. Administrative costs for the Reassessment
District cannot exceed 5% of the total annual Reassessments per individual Reassessment parcel collected each
year.
THE REASSESSMENT DISTRICT
Description of the Reassessment District
The Reassessment District generally encompasses the Canyon Hills master-planned community within
the City covering approximately 1,969 acres. Canyon Hills is located in the southeast portion of the City to the
south of the City of Canyon Lake. Development within the Reassessment District is substantially completed
and includes 3,414 parcels consisting of primarily of residential homes. As of March 1, 2021, there were 2,812
single family homes, 585 multifamily units, 14 parcels of commercial property and three parcels of undeveloped
property (totaling approximately 155 acres).
Table 2 below summarizes the total assessed values of the property within the Reassessment District for
the current and four previous fiscal years.
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TABLE 2
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1(CANYON HILLS)
ASSESSED VALUATION HISTORY
FISCAL YEARS 2016-17 THROUGH 2020-21
Fiscal Year
Land Assessed
Valuation
Structure Assessed
Valuation
Total Assessed
Valuation
2016-17 $255,834,228 $638,097,209 $ 893,931,437
2017-18 292,180,974 710,172,709 1,002,353,683
2018-19 327,592,565 802,573,021 1,130,165,586
2019-20 348,623,225 874,033,789 1,222,657,014
2020-21 359,595,905 910,527,684 1,270,123,589
Source: Spicer Consulting Group, LLC.
Direct and Overlapping Indebtedness
The ability of an owner of land within the Reassessment District to pay the Reassessment Installments
could be affected by the existence of other taxes and assessments imposed upon the property. The Reassessment
District is included within the boundaries of overlapping local agencies providing governmental services. Some
of these local agencies have outstanding bonds, and/or the authority to issue bonds, payable from taxes or
assessments. The existing and authorized indebtedness payable from taxes and assessments that may be levied
upon the property within the Reassessment District is shown in Table 3 below. In addition to current debt, new
community facilities districts and/or special assessment districts could be formed in the future encompassing all
or a portion of the property within the Reassessment District; and such districts or the agencies that formed them
could issue more bonds and levy additional special taxes or assessments.
TABLE 3
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
14
DIRECT AND OVERLAPPING DEBT
AS OF MARCH 1, 2021
I. Fiscal Year 2020-21 Assessed Value $ 1,270,123,589
II. Land Secured Bond Indebtedness
Outstanding Direct and
Overlapping Bonded Debt Type Issued Outstanding
%
Applicable
Parcels in
RAD No.
2021-1 (3) Amount Applicable
City of Lake Elsinore, RAD No. 2021-1, Series 2021 AD $ 10,555,000 $ 10,555,000 100.000% 3,414 $ 10,555,000*
City of Lake Elsinore, CFD 2003-2 IA A, 2014 Series B CFD 12,235,000 8,850,000 77.141 435 6,826,950
City of Lake Elsinore, CFD 2003-2 IA B, Series 2015 and 2017 CFD 37,000,000 19,335,000 99.605 803 19,258,712
City of Lake Elsinore, CFD 2003-2 IA C, Series 2012 and 2014 CFD 12,775,000 12,130,000 100.000 440 12,130,000
City of Lake Elsinore, CFD 2003-2 IA D, Series 2014 and 2016 CFD 24,000,000 23,335,000 100.000 655 23,335,000
City of Lake Elsinore, CFD 2016-1, Series 2018 CFD 19,745,000 19,600,000 100.000 456 19,600,000
Temecula Valley Project, CFD No. 98-1 CFD 25,890,013 8,647,819 43.454 3296 3,757,853
Perris Union High School District CFD No. 92-1 CFD 46,150,000 32,690,000 7.629 1267 2,493,892
TOTAL LAND SECURED BONDED DEBT (2) $ 97,957,406*
Authorized but Unissued Direct and
Overlapping Indebtedness Type Authorized Unissued
%
Applicable
Parcels in
RAD No.
2021-1 Amount Applicable
City of Lake Elsinore, RAD No. 2021-1, Series 2021 AD $ 19,700,000 $ 1,625,000 100.000% 3,414 $ 1,625,000
City of Lake Elsinore, CFD 2003-2 IA A, 2014 Series B CFD 12,235,000 0 77.141 435 0
City of Lake Elsinore, CFD 2003-2 IA B, Series 2015 and 2017 CFD 37,000,000 0 99.605 803 0
City of Lake Elsinore, CFD 2003-2 IA C, Series 2012 and 2014 CFD 13,000,000 225,000 100.000 440 225,000
City of Lake Elsinore, CFD 2003-2 IA D, Series 2014 and 2016 CFD 24,000,000 0 100.000 655 0
City of Lake Elsinore, CFD 2016-1, Series 2018 CFD 27,500,000 7,755,000 100.000 456 7,755,000
Temecula Valley Project, CFD No. 98-1 CFD 25,890,013 0 43.454 3,296 0
Perris Union High School District CFD No. 92-1 CFD 140,000,000 93,850,000 7.629 1,267 7,159,735
TOTAL UNISSUED LAND SECURED INDEBTEDNESS (2) $ 16,764,735
TOTAL OUTSTANDING AND UNISSUED LAND SECURED INDEBTEDNESS $ 114,722,141*
III. General Obligation Bond Indebtedness
Outstanding Direct and
Overlapping Bonded Debt Type Issued Outstanding
%
Applicable
Parcels in
RAD No.
2021-1 Amount Applicable
Metropolitan Water Debt Service GO $850,000,000 $ 50,105,000 1.089% 3,414 $ 545,892
Perris Union High School Debt Service GO 269,410,402 217,424,844 6.476 1,267 14,081,465
Mt. San Jacinto Jr. College Debt Service GO 190,000,000 157,750,000 1.247 214 1,966,782
Lake Elsinore Unified School District Debt Service GO 53,915,000 49,955,000 8.981 214 4,486,364
TOTAL OUTSTANDING GENERAL OBLIGATION BONDED DEBT (2) $ 21,080,503
Authorized but Unissued Direct and
Overlapping Indebtedness Type Authorized Unissued
%
Applicable
Parcels in
RAD No.
2021-1 Amount Applicable
Metropolitan Water Debt Service GO $850,000,000 $ 0 1.089% 3,414 $ 0
Perris Union High School Debt Service GO 347,420,000 78,009,598 6.476 1,267 5,052,272
Mt. San Jacinto Jr. College Debt Service GO 295,000,000 105,000,000 1.247 214 1,309,110
Lake Elsinore Unified School District Debt Service GO 105,000,000 51,085,000 8.981 214 4,587,847
TOTAL UNISSUED GENERAL OBLIGATION INDEBTEDNESS (2) $ 10,949,229
TOTAL OUTSTANDING AND UNISSUED GENERAL OBLIGATION INDEBTEDNESS $ 32,029,732
TOTAL OF ALL OUTSTANDING DIRECT AND OVERLAPPING BONDED DEBT $ 119,037,909*
TOTAL OF ALL OUTSTANDING DIRECT AND UNISSUED DIRECT OVERLAPPING INDEBTEDNESS $ 146,751,873*
IV. Ratios to Appraisal Value
Outstanding Land Secured Bonded Debt 12.97:1*
Total Outstanding Bonded Debt 10.67:1*
* Preliminary, subject to change.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
15
Value-to-Reassessment Lien Ratios
The value of the parcels within the Reassessment District with unpaid Reassessments is significant because in the event of a delinquency in the
payment of Reassessment Installments, the Reassessment District may foreclose only against delinquent parcels. In fiscal year 2020-21, the assessed value
of the property within the Reassessment District was $1,270,123,589. Based on fiscal year 2020-21 assessed values and all direct and overlapping special
tax and assessment district debt, the Reassessment District has an aggregate value-to-lien ratio of 12.97 to 1*. Table 4 below sets forth the aggregate value-
to-lien ratios for all property within the Reassessment District:
TABLE 4
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
VALUE-TO-LIEN STRATA FOR ALL PROPERTY
Value-to-Lien Category
No. of
Parcels % of Parcels
Fiscal Year 2020-
21 Assessed
Value
% of Fiscal
Year 2020-
21 Assessed
Value
Reassessment
Lien*
Percent of
Reassessment
Lien
Total Direct and
Overlapping
Debt*
Aggregate
Value-to-Lien*
Less than 5.01:1(1) 11 0.32% $ 2,180,771 0.17% $ 525,701 4.98% $ 976,182 2.23:1
Between 5.01:1 to 10.00:1 1,085 31.78 391,406,661 30.82 3,008,470 28.50 45,472,155 8.61:1
Between 10.01:1 to 15.00:1 1,339 39.22 487,493,295 38.38 3,958,374 37.50 41,202,016 11.83:1
Between 15.01:1 to 20.00:1 327 9.58 122,944,518 9.68 1,054,241 9.99 7,101,012 17.31:1
Between 20.01:1 to 25.00:1 30 0.88 10,742,016 0.85 89,375 0.85 517,579 20.75:1
Between 25.01:1 to 30.00:1 0 0.00 0 0.00 0 0.00 0 0.00:1
Between 30.01:1 to 35.00:1 1 0.03 164,471 0.01 3,778 0.04 4,895 33.60:1
Between 35.01:1 to 40.00:1 0 0.00 0 0.00 0 0.00 0 0.00:1
Between 40.01:1 to 45.00:1 2 0.06 430,671 0.03 7,555 0.07 9,790 43.99:1
Between 45.01:1 to 50.00:1 5 0.15 1,048,640 0.08 16,370 0.16 21,956 47.76:1
Greater than 50.01:1(1) 614 17.98 253,712,546 19.98 1,891,136 17.92 2,651,822 95.67:1
Totals 3,414 100.00% $ 1,270,123,589 100.00% $ 10,555,000 100.00% $ 97,957,406 12.97:1
* Preliminary, subject to change.
(1) The minimum value to lien in the less than 5.00:1 category is 0.20:1*. The maximum value to lien in the Greater than 50.01:1 category is 501.45:1*.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
* Preliminary, subject to change.
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Table 5 below sets forth the estimated value-to-lien ratios for the top ten property owners by reassessment lien in the Reassessment District.
TABLE 5
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
ESTIMATED VALUE-TO-LIEN FOR TOP 10 PROPERTY OWNERS BY REASSESSMENT LIEN
Property Owner Parcels
Fiscal Year
2020-21
Assessed Value
Percent of
Fiscal Year
2020-21
Assessed
Value
Reassessment
Lien*
Percent of
Reassessment
Lien
Total Direct and
Overlapping Debt* Value-to-Lien Ratio*
TRI Pointe Homes 2 $ 1,040,989 0.08% $ 495,248 4.69% $ 517,828 2.01:1
Helf Canyon Hills Market Place I 8 27,280,433 2.15 106,484 1.01 159,571 170.96:1
Pardee Construction Co 7 1,996,084 0.16 89,020 0.84 362,541 5.51:1
Prohas Enterprises Inc 2 4,851,973 0.38 21,774 0.21 35,091 138.27:1
Longs Drug Stores Calif 1 4,509,903 0.36 19,765 0.19 30,490 147.91:1
ECD Prop Management Inc 5 1,169,116 0.09 13,828 0.13 73,806 15.84:1
Fagan Shaun 4 1,092,089 0.09 11,745 0.11 30,589 35.70:1
2018 1 IH Borrower LP 3 994,747 0.08 11,309 0.11 49,717 20.01:1
Chien Family Trust 4 1,564,460 0.12 10,090 0.10 141,298 11.07:1
Fernandez Manuel J 3 638,630 0.05 8,379 0.08 50,909 12.54:1
Subtotal 39 $ 45,138,424 3.55% $ 787,642 7.46% $ 1,451,839 31.09:1
All Other Property Owners 3,375 1,224,985,165 96.45 9,767,358 92.54 96,505,567 12.69:1
Totals 3,414 $ 1,270,123,589 100.00% $ 10,555,000 100.00% $ 97,957,406 12.97:1
* Preliminary, subject to change.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
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Delinquencies in the Reassessment District
The following table sets forth a history of the assessments levied and delinquencies within the
Assessment District from Fiscal Year 2016-17 through the first installment for Fiscal Year 2020-21.
TABLE 6
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
SPECIAL ASSESSMENT LEVIES, DELINQUENCIES AND DELINQUENCY RATES
FISCAL YEARS 2016-17 THROUGH 2020-21
Delinquencies as of March 1, 2021
Fiscal Year Amount Levied Parcels Levied
Parcels
Delinquent
Amount
Delinquent
Percent
Delinquent
2016-17 $1,503,382 2,961 2 $ 205 0.01%
2017-18 1,514,979 3,098 3 1,222 0.08
2018-19 1,513,345 3,330 4 1,639 0.11
2019-20 1,513,127 3,414 15 4,384 0.29
2020-21(1) 1,508,264 3,414 40 7,796 0.52
(1) Shows delinquencies for the first installment of Fiscal Year 2020-21.
Source: County of Riverside Assessor’s Office; Spicer Consulting Group, LLC.
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Tax Rates
The following table describes the estimated fiscal year 2020-21 effective tax burden of average units of
property within the Reassessment District based on reassessment liens and average assessed values of the
particular groups.
TABLE 7
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
ESTIMATED FISCAL YEAR 2020-21 TAX OBLIGATION
FOR A SAMPLE TAX BILL FOR REASSESSMENT LIENS
Assessed Valuations and Property Taxes Group 1(1) Group 2(2) Group 3(3) Group 4(4) Group 5(5) Group 6(6)
Total Estimated Secured Assessed Value $ 429,179 $ 329,575 $ 377,363 $ 332,203 $ 340,667 $ 405,503
Homeowner’s Exemption (7,000) (7,000) (7,000) (7,000) (7,000) 0
Net Assessed Value $ 422,179 $ 322,575 $ 370,363 $ 325,203 $ 333,667 $ 405,503
Ad Valorem Property Taxes:
General Purpose $ 4,222 $ 3,226 $ 3,704 $ 3,252 $ 3,337 $ 4,055
Metro Water West (0.00350%) 15 11 13 11 12 14
Menifee School (0.061110%) 0 0 226 199 204 0
Perris Union HS (0.08569%) 0 0 317 279 286 0
Mt. San Jacinto Jr. College (0.01320%) 56 43 49 43 44 54
Lake Elsinore Unified School District (0.0190%) 80 61 0 0 0 77
Total General Property Taxes $ 4,373 $ 3,341 $ 4,309 $ 3,784 $ 3,882 $ 4,200
Assessment, Special Taxes & Parcel Charges:
Flood Control Stormwater / Cleanwater / Santa Ana $ 4 $ 4 $ 4 $ 4 $ 4 $ 4
CSA #152 City of Lake Elsinore Stormwater 14 14 14 14 14 14
City of Lake Elsinore CFD Public Safety 420 0 420 420 420 420
City of Lake Elsinore Citywide LLMD 25 25 25 25 25 25
EMWD CFD 98-1 - Temescal Valley Project 55 55 55 55 55 55
Perris Union HS CFD 92-1 0 0 311 311 311 0
Northwest Mosquito and Vector Control 11 11 11 11 11 11
MWD Standby Charge 9 9 9 9 9 9
Lake Elsinore USD CFD 2001-1 0 1,221 0 0 0 0
CFD No. 2009-1 Park Maintenance 403 0 403 403 403 0
City of Lake Elsinore CFD 2003-2 IA A 0 0 0 0 0 2,076
City of Lake Elsinore CFD 2003-2 IA B 0 0 0 2,627 0 0
City of Lake Elsinore CFD 2003-2 IA C 0 0 0 0 1,972 0
City of Lake Elsinore CFD 2003-2 IA D 0 0 2,285 0 0 0
City of Lake Elsinore CFD 2016-2 2,932 0 0 0 0 0
Lake Elsinore AD 93-1R 332 363 378 420 487 621
Total Assessments & Special Taxes $ 4,206 $ 1,702 $ 3,915 $ 4,298 $ 3,711 $ 3,235
Projected Total Property Tax $ 8,578 $ 5,043 $ 8,224 $ 8,082 $ 7,593 $ 7,435
Projected Effective Tax Rate 2.03% 1.56% 2.22% 2.49% 2.28% 1.83%
(1) Grouped based on sample parcels with similar amounts of Reassessment liens.
Source: County of Riverside Assessor’s Office; County of Riverside Tax Collector’s Office; Spicer Consulting Group, LLC.
SPECIAL RISK FACTORS
General
In order to pay debt service on the Bonds, it is necessary that unpaid Reassessment Installments on
parcels within the City are paid in a timely manner. The Reserve Fund will be used to pay debt service on the
Bonds if delinquent Reassessment Installments should occur. The Reassessments are a lien on the parcels of
land and the City has covenanted to institute foreclosure proceedings under certain circumstances against parcels
with delinquent Reassessment Installments.
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Failure by owners of the parcels to pay Reassessment Installments when due, depletion of the Reserve
Fund or the inability of the City to sell parcels which have been subject to foreclosure proceedings for amounts
sufficient to cover the delinquent Reassessment Installments for such parcels may result in the inability of the
City to make full or punctual payments of debt service on the Bonds, and Bondowners would therefore be
adversely affected.
The Improvement Bond Act of 1915, Division 10 of the California Streets and Highways Code
(the “1915 Act”) provides that except under certain circumstances property is to be sold upon foreclosure at a
Minimum Price. “Minimum Price” as defined in the 1915 Act is the amount equal to the delinquent installments
of principal or interest of the reassessment or assessment, together with all interest penalties, costs, fees, charges
and other amounts more fully detailed in the 1915 Act. The court may authorize a sale at less than the Minimum
Price if the court determines that sale at less than the Minimum Price will not result in an ultimate loss to the
Bondowners or, under certain circumstances, if owners of 75% or more of the outstanding Bonds consent to
such sale. There can be no assurance that foreclosure proceedings will occur in a timely manner so as to avoid
depletion of the Reserve Fund and a delay in payments of debt service on the Bonds. See “SECURITY FOR
THE BONDS — Covenant to Foreclose and Court Foreclosure Proceedings.”
Unpaid Reassessment Installments do not constitute a personal indebtedness of the owners of the parcels
within the Reassessment District. There is no assurance the owners will be able to pay the Reassessment
Installments or that they will pay such installments even though financially able to do so.
Risks of Real Estate Secured Investments Generally
Because the timely payment of debt service on the Bonds will be dependent upon the timely payment
of the Reassessment Installments, Bondowners will be subject to the risks generally incident to an investment
secured by real estate, including, without limitation, (i) adverse changes in local market conditions, such as
changes in the market value of real property in and around the vicinity of the Reassessment District, the supply
of or demand for competitive properties in such area, and the market value of residential property or buildings
and/or sites in the event of sale or foreclosure; (ii) changes in real estate tax rates and other operating expenses,
governmental rules (including, without limitation, zoning laws and laws relating to endangered species and
hazardous materials) and fiscal policies; (iii) natural disasters (including, without limitation, earthquakes,
wildfires, floods, drought and windstorms), which may result in uninsured losses; and (iv) adverse changes in
local market conditions.
COVID-19 (Coronavirus) Pandemic
The spread of the novel strain of coronavirus called COVID-19 is having significant negative impacts
throughout the world, including in the State and County. The World Health Organization declared the COVID-
19 outbreak to be a pandemic, and states of emergency have been declared by the County, State and the United
States. The purposes behind these declarations are to coordinate and formalize emergency actions across federal,
state and local governmental agencies, and to proactively prepare for a wider spread of the virus. There have
been confirmed cases of COVID-19 in the County and related deaths, and confirmed cases of COVID-19 and
deaths are growing throughout the State. Health officials are expecting the number of confirmed cases and
deaths to continue to grow. The outbreak is expected to have continued negative effects on the local, State and
national economies until a vaccine is made widely available to the general public.
On May 6, 2020, Governor Newsom issued Executive Order N-61-20 (the “Executive Order”), waiving
penalties and interest on taxes on property on the secured or unsecured roll through May 6, 2021 under certain
conditions, including: (i) the property is a residential property occupied by the taxpayer or the property is used
for a small business, (ii) the taxes owed were not delinquent as of March 4, 2020, (iii) the taxpayer files for relief
in a form prescribed by the applicable county tax collector, and (iv) the taxpayer demonstrates economic hardship
to the satisfaction of the county tax collector. The Executive Order may have an effect on the collection of
Reassessment Installments. To date the Executive Order has not had a material impact on the collection of
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Reassessment Installments. However, this could change if the COVID-19 pandemic continues to have lasting
impacts on the economy.
The COVID-19 outbreak is ongoing, and the ultimate duration and severity of the outbreak and actions
that may be taken by governmental authorities to contain the outbreak or to treat its impact are uncertain. The
ultimate adverse impact of COVID-19 on the City and the real estate market in general is currently unknown,
however such impacts could be material and adverse if the pandemic has a lasting impact the economy.
Delinquency Resulting in Ultimate or Temporary Loss on Bonds
If a temporary deficiency occurs in the Redemption Fund with which to pay the principal of or interest
on Bonds that have then matured, or the principal and interest on Bonds coming due during the current year,
unless it appears to the Treasurer that there will be an ultimate loss to the Bondowners, the Treasurer shall cause
the Trustee to pay the principal of Bonds which have matured as presented and make interest payments on the
Bonds when due, as long as there are available funds in the Redemption Fund, in the order of priority and as
required by the Indenture. If it appears to the Treasurer that there is a danger of an ultimate loss accruing to the
Bondowners for any reason, the Treasurer is required pursuant to the 1915 Act to withhold payment on all
matured Bonds and interest on all Bonds and report the facts to the City so that the City may take proper action
to equitably protect all Bondowners. See APPENDIX C — “SUMMARY OF INDENTURE.”
Non-Cash Payments of Reassessments
The 1915 Act may permit the owner of a parcel that is subject to an unpaid Reassessment Installment
to tender any Bond secured by such Reassessment in payment or partial payment of any installment of the
Reassessment or interest or penalties thereon which may be due or payable. A Bond so tendered is to be accepted
at the par amount thereof and credit is to be given for any interest thereon accrued to the date of the tender. Thus,
if Bonds can be purchased at a discount, it may be to the advantage of a property owner to pay amounts due with
respect to an assessment by tendering a Bond. Such a practice would decrease the cash flow available to the
City to make payments with respect to other Bonds then outstanding and could result in a default in payment on
the Bonds.
Limited City Obligation Upon Delinquency
Pursuant to the 1915 Act, the City has elected not to be obligated to advance funds from the treasury of
the City for delinquent Reassessment Installments. The only obligation of the City with respect to such
delinquencies and the consequent deficiencies in the Redemption Fund is to advance money to the Redemption
Fund from the Reserve Fund. The City has no obligation to replenish the Reserve Fund except to the extent that
delinquent Reassessment Installments are paid or proceeds from foreclosure sales are realized. There is no
assurance that the balance in the Reserve Fund will always be adequate to pay all delinquent Reassessment
Installments and if during the period of delinquency there are insufficient funds in the Reserve Fund, a delay
may occur in payments to the Bondowners.
Land Values
The value of the property within the Reassessment District is a critical factor in determining the
investment quality of the Bonds. If a property owner is delinquent in the payment of Reassessment Installments,
the City’s only remedy is to commence foreclosure proceedings against the delinquent parcel in an attempt to
obtain funds to pay the delinquent Reassessment Installments. Reductions in property values due to a downturn
in the economy, physical events such as earthquakes, fires or floods, stricter land use regulations, delays in
development or other events will adversely impact the security underlying the reassessments. See “THE
REASSESSMENT DISTRICT — Value-to-Reassessment-Lien Ratios”.
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The assessed values set forth in this Official Statement do not represent market values arrived at through
an appraisal process and generally reflect only the sales price of a parcel when acquired by its current owner,
adjusted annually by an amount determined by the County Assessor, generally not to exceed an increase of more
than 2% per fiscal year. No assurance can be given that a parcel could actually be sold for its assessed value.
No assurance can be given that any bid will be received for a parcel with delinquent Reassessment
Installments offered for sale at foreclosure or, if a bid is received, that such bid will be sufficient to pay all
delinquent Reassessment Installments. See “SECURITY FOR THE BONDS — Covenant to Foreclose and
Court Foreclosure Proceedings.”
Bankruptcy and Foreclosure
The payment of Reassessments and the ability of the City to foreclose the lien of delinquent unpaid
Reassessment Installments, as discussed in the section entitled “SECURITY FOR THE BONDS — Covenant to
Foreclose and Court Foreclosure Proceedings”, may be limited by bankruptcy, insolvency, or other laws
generally affecting creditors’ rights or by the law of the State of California relating to judicial foreclosure. In
addition, the prosecution of a foreclosure could be delayed due to crowded local court calendars or procedural
delays.
The various legal opinions to be delivered concurrently with the delivery of the Bonds (including Bond
Counsel’s approving legal opinion) will be qualified as to the enforceability of the various legal instruments by
bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors generally.
Although bankruptcy proceedings would not cause the Reassessments to become extinguished,
bankruptcy of a property owner could result in a delay in prosecuting superior court foreclosure proceedings and
could result in delinquent Reassessment Installments not being paid in full. Where property is encumbered by
liens securing mortgage loans, it is highly probable that bankruptcy of a property owner would delay foreclosure
for an extended period of time. Such a delay would increase the likelihood of a delay or default in payment of
the principal and interest on the Bonds.
FDIC/Federal Government Interests in Parcels
The ability of the City to collect interest and penalties specified by the Act and to foreclose the lien of
delinquent Reassessment Installments may be limited in certain respects with regard to parcels in which the
Federal Deposit Insurance Corporation (the “FDIC”) has or obtains an interest. Specifically, in the event that
any financial institution making a loan which is secured by parcels is taken over by the FDIC and the applicable
Reassessment Installment is not paid, the remedies available to the City may be constrained. The FDIC’s policy
statement regarding the payment of state and local real property taxes (the “Policy Statement”) provides that
taxes other than ad valorem taxes which are secured by a valid lien in effect before the FDIC acquired an interest
in a property will be paid unless the FDIC determines that abandonment of its interests is appropriate. The
Policy Statement provides that the FDIC generally will not pay installments of non-ad valorem taxes which are
levied after the time the FDIC acquires its fee interest, nor will the FDIC recognize the validity of any lien to
secure payment except in certain cases where the Resolution Trust Corporation had an interest in property on or
prior to December 31, 1995. Moreover, the Policy Statement provides that, with respect to parcels on which the
FDIC holds a mortgage lien, the FDIC will not permit its lien to be foreclosed out by a taxing authority without
its specific consent, nor will the FDIC pay or recognize liens for any penalties, fines or similar claims imposed
for the non-payment of taxes.
If a parcel with unpaid Reassessments within the Reassessment District is owned by a federal
governmental entity, or a private deed of trust secured by a parcel with unpaid Reassessments within the
Reassessment District is owned by a federal governmental entity, the ability to foreclose on the parcel to collect
delinquent Reassessments may be limited. Federal courts have held that, based on the supremacy clause of the
United States Constitution, in the absence of Congressional intent to the contrary, a state or local agency cannot
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foreclose to collect delinquent taxes or assessments if foreclosure would impair the federal government interest.
This means that, unless Congress has otherwise provided, if a federal governmental entity owns a parcel with
unpaid Reassessments within the Reassessment District but does not pay taxes and assessments levied on the
parcel (including Reassessments), the applicable state and local governments cannot foreclose on the parcel to
collect the delinquent taxes and assessments.
Moreover, unless Congress has otherwise provided, if the federal government has a mortgage interest
in the parcel and the City wishes to foreclose on the parcel as a result of delinquent Reassessments, the property
cannot be sold at a foreclosure sale unless it can be sold for an amount sufficient to pay delinquent taxes and
assessments on a parity with the Reassessments and preserve the federal government’s mortgage interest. In Rust
v. Johnson (9th Circuit; 1979) 597 F.2d 174, the United States Court of Appeal, Ninth Circuit held that the
Federal National Mortgage Association (“FNMA”) is a federal instrumentality for purposes of this doctrine, and
not a private entity, and that, as a result, an exercise of state power over a mortgage interest held by FNMA
constitutes an exercise of state power over property of the United States.
The City has not undertaken to determine whether any federal governmental entity currently has, or is
likely to acquire, any interest (including a mortgage interest) in any of the parcels with unpaid Reassessments
within the Reassessment District, and therefore expresses no view concerning the likelihood that the risks
described above will materialize while the Bonds are outstanding
The City’s remedies may also be limited in the case of delinquent Reassessment Installments with
respect to parcels in which other federal agencies (such as the Internal Revenue Service and the Drug
Enforcement Administration) have or obtain an interest.
The City is unable to predict what effect the application of the Policy Statement would have in the event
of a delinquency with respect to a portion of the parcels in which the FDIC has or obtains an interest, although
prohibiting the lien of the FDIC to be foreclosed out at a judicial foreclosure sale would prevent or delay the
foreclosure sale.
Natural Disasters
The Reassessment District, like all California communities, may be subject to unpredictable seismic
activity, fires, flood, or other natural disasters. Southern California is a seismically active area. Seismic activity
represents a potential risk for damage to buildings, roads and property within the Reassessment District. In
addition, land susceptible to seismic activity may be subject to liquefaction during the occurrence of such event.
The property within the Reassessment District is not located in an Alquist Priolo Earthquake Study Zone and is
not located within one-half mile of an active earthquake fault. Additionally, the Reassessment District is not
located in a flood plain area.
In recent years, wildfires have caused extensive damage throughout the State, including within the
County. Certain of these fires have burned thousands of acres and destroyed hundreds and in some cases
thousands of homes. In some instances entire neighborhoods have been destroyed. Several fires in recent years
damaged or destroyed property in areas that were not previously considered to be at risk from such events. [The
Reassessment District is located in an area which the Department of Forestry and Fire Protection of the State of
California has designated as a high fire hazard severity zone.] There is a risk of property within the Reassessment
District being destroyed by wildfires and no assurance can be given as to the severity or frequency of wildfires
within the vicinity of the Reassessment District. Additionally, property located adjacent to burn areas can be
subject to mudslides and flooding, which can cause significant damage and destruction to property.
In the event of a severe earthquake, fire, flood or other natural disaster, there may be significant damage
to both property and infrastructure in the Reassessment District. As a result, a substantial portion of the property
owners may be unable or unwilling to pay the Reassessment Installments when due. In addition, the value of
land in the Reassessment District could be diminished in the aftermath of such a natural disaster, reducing the
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resulting proceeds of foreclosure sales in the event of delinquencies in the payment of the Reassessment
Installments.
Hazardous Substances
While government taxes, assessments and charges are a common claim against the value of a parcel,
other less common claims may also be relevant. One of the most serious in terms of the potential reduction in
the value of a parcel is a claim with regard to a hazardous substance. In general, the owners and operators of a
parcel may be required by law to remedy conditions relating to releases or threatened releases of hazardous
substances. The federal Comprehensive Environmental Response, Compensation and Liability Act of 1980,
sometimes referred to as “CERCLA” or the “Super Fund Act,” is the most well-known and widely applicable of
these laws, but California laws with regard to hazardous substances are also stringent and similar in effect. Under
many of these laws, the owner (or operator) is obligated to remedy a hazardous substance condition of a parcel
whether or not the owner (or operator) had anything to do with creating or handling the hazardous substance.
The effect, therefore, should any of the parcels within the Reassessment District be affected by a hazardous
substance, is to reduce the marketability and value by the costs of remedying the condition.
The City is not aware of the presence of any federally or state classified hazardous substances in
violation of any environmental laws, located on the property within the Reassessment District. However, it is
possible that such materials do currently exist and that the City is not aware of them.
It is possible that property in the Reassessment District may be liable for hazardous substances in the
future as a result of the existence, currently, of a substance presently classified as hazardous but which has not
been released or the release of which is not presently threatened, or the existence, currently, on the property of
a substance not presently classified as hazardous but which may in the future be so classified. Additionally, such
liabilities may arise not simply from the existence of a hazardous substance but from the method of handling
such substance. All of these possibilities could have the effect of reducing the value of the applicable property.
Limited Secondary Market
There can be no guarantee that there will be a secondary market for the Bonds or, if a secondary market
exists, that such Bonds can be sold for any particular price. Although the City has committed to provide certain
statutorily-required financial and operating information, there can be no assurance that such information will be
available to Bondowners on a timely basis. The failure to provide the required annual financial information does
not give rise to monetary damages but merely an action for specific performance. Occasionally, because of
general market conditions, lack of current information, the absence of a credit rating for the Bonds or because
of adverse history or economic prospects connected with a particular issue, secondary marketing practices in
connection with a particular issue are suspended or terminated. Additionally, prices of issues for which a market
is being made will depend upon then prevailing circumstances. Such prices could be substantially different from
the original purchase price.
Future Debt Issuance
The ability of an owner of land within the Reassessment District to pay the Reassessment Installments
could be affected by the existence of other taxes and assessments imposed upon taxable parcels. In addition, the
City and other public agencies whose boundaries overlap those of the Reassessment District could impose
additional taxes or assessment liens on the property within the Reassessment District in order to finance public
improvements or services to be located or provided inside of or outside of such area. The lien created on the
property within the Reassessment District through the levy of such additional taxes may be on a parity with the
lien of the Reassessments levied by the City. See “THE REASSESSMENT DISTRICT — Direct and
Overlapping Indebtedness”.
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The imposition of additional liens on a parity with the Reassessment Installments may reduce the ability
or willingness of the landowners to pay the Reassessment Installments and increase the possibility that
foreclosure proceeds will not be adequate to pay delinquent Reassessment Installments.
The City does not have control over the ability of other entities and districts to issue indebtedness
secured by special taxes, ad valorem taxes or assessments payable from all or a portion of the property
within the Reassessment District. In addition, the landowners within the Reassessment District may,
without the consent or knowledge of the City, petition other public agencies to issue public indebtedness
secured by special taxes, ad valorem taxes or assessments. Any such special taxes, ad valorem taxes or
assessments could reduce the estimated value-to-lien ratios for property within the Reassessment District
described herein.
Proposition 218
On November 5, 1996, the voters of the State approved Proposition 218, the so-called “Right to Vote
on Taxes Act.” Proposition 218 added Articles XIIIC and XIIID to the State Constitution, which contain, among
other things, a number of provisions affecting the ability of the City to levy and collect both existing and future
taxes, assessments, fees and charges. Under the Act, Section 9525(b) of the California Streets and Highways
Code, the Reassessments herein are not assessments within the meaning of, and may be ordered without
compliance with the procedural requirements of, Article XIIID of the California Constitution. In addition, under
Section 10400 of the California Streets and Highways Code, any challenge (including any constitutional
challenge) to the proceedings or the assessment must be brought within 30 days after the date the assessment
was levied.
Article XIIIC removes limitations on the initiative power in matters of local taxes, assessments, fees
and charges. Article XIIIC does not define the term “assessment”, and it is unclear whether this term is intended
to include assessments levied under the 1913 Act. Furthermore, this provision of Article XIIIC is not, by its
terms, restricted in its application to assessments which were established or imposed on or after July 1, 1997. In
the case of the unpaid Reassessments which are pledged as security for the payment of the Bonds, the Act
provides a mandatory, statutory duty of the City and the County Auditor to post installments on account of the
unpaid Reassessments to the property tax roll of the County each year while any of the Bonds are outstanding,
in amounts equal to the principal of and interest on the Bonds coming due in the succeeding calendar year.
Although the matter is not free from doubt, it is likely that a court would hold that Article XIIIC has not conferred
on the voters the power to reduce or repeal the unpaid Reassessments which are pledged as security for payment
of a Bond or to otherwise interfere with performance of the mandatory, statutory duty of the City and the County
Auditor with respect to the unpaid Reassessments which are pledged as security for payment of the Bonds.
The interpretation and application of Article XIIIC will ultimately be determined by the courts with
respect to a number of the matters discussed above, and it is not possible at this time to predict with certainty the
outcome of such determination or the timeliness of any remedy afforded by the courts.
Ballot Initiatives and Legislative Measures
Proposition 218 was adopted pursuant to a measure qualified for the ballot pursuant to California’s
constitutional initiative process, and the State Legislature has in the past enacted legislation which has altered
the spending limitations or established minimum funding provision for particular activities. From time to time,
other initiative measures could be adopted by California voters or legislation enacted by the Legislature. The
adoption of any such initiative or legislation might place limitations on the ability of the State, the City or local
districts to increase revenues or to increase appropriations or on the ability of a landowner to complete the
development of property.
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Limited Secondary Market
There can be no guarantee that there will be a secondary market for the Bonds or, if a secondary market
exists, that such Bonds can be sold for any particular price. Although the City has committed to provide certain
statutorily-required financial and operating information along with notice of certain enumerated events, there
can be no assurance that such information will be available to Bondowners on a timely basis. The failure to
provide the required annual financial information or enumerated event notices does not give rise to monetary
damages but merely an action for specific performance. Occasionally, because of general market conditions,
lack of current information, the absence of a credit rating for the Bonds or because of adverse history or economic
prospects connected with a particular issue, secondary marketing practices in connection with a particular issue
are suspended or terminated. Additionally, prices of issues for which a market is being made will depend upon
then prevailing circumstances. Such prices could be substantially different from the original purchase price.
Potential Early Redemption of Bonds from Prepayments of Reassessments
Property owners within the Reassessment District are permitted to prepay their Reassessments at any
time. Such payments will result in a mandatory redemption of Bonds from a prepayment of Reassessments on
the Interest Payment Date for which timely notice may be given under the Indenture following the receipt of
such prepayment of Reassessments. The resulting mandatory redemption of Bonds purchased at a price greater
than par could reduce the otherwise expected yield on such Bonds. See “THE BONDS — Redemption —
Mandatory Redemption From Reassessment Prepayments.”
Disclosures to Future Purchasers
The willingness or ability of an owner of a parcel to pay the Reassessments even if the value of the
parcel is sufficient may be affected by whether or not the owner was given due notice of the Reassessments
authorization at the time the owner purchased the parcel, was informed of the amount of the Reassessments on
the parcel and the risk of such a levy, and, at the time of such a levy, has the ability to pay it as well as pay other
expenses and obligations. The City has caused a notice of the Reassessment lien to be recorded in the Office of
the Recorder for the County against each parcel. While title companies normally refer to such notices in title
reports, there can be no guarantee that such reference will be made or, if made, that a prospective purchaser or
lender will consider such Reassessments obligation in the purchase of a property within the Reassessment
District or lending of money thereon.
Payment of the Reassessments is not a Personal Obligation of the Owners
An owner of a parcel subject to a Reassessment is not personally obligated to pay such Reassessment.
Rather, the Reassessment is an obligation which is secured only by a lien against the parcel. If the value of a
parcel is not sufficient, taking into account other liens imposed by public agencies, to secure fully the
Reassessment, the City has no recourse against the owner.
Suspension of Penalties and Interest
On May 6, 2020, Governor Newsom issued the Executive Order, waiving penalties and interest on taxes
on property on the secured or unsecured roll through May 6, 2021 under certain conditions, including: (i) the
property is a residential property occupied by the taxpayer or the property is used for a small business, (ii) the
taxes owed were not delinquent as of March 4, 2020, (iii) the taxpayer files for relief in a form prescribed by the
tax collector, and (iv) the taxpayer demonstrates economic hardship to the satisfaction of the tax collector. The
Executive Order may have an effect on a property owner’s willingness to pay Reassessment Installments when
due. See “— COVID-19 (Coronavirus) Pandemic” herein.
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Cyber Security
The City, like many other public and private entities, rely on computer and other digital networks and
systems to conduct their operations. The City is potentially subject to multiple cyber threats, including without
limitation hacking, viruses, ransomware, malware and other attacks. No assurance can be given that the efforts
of the City to manage cyber threats and attacks will be successful in all cases, or that any such attack will not
materially impact the operations or finances of the City, or the administration of the Bonds. The City is also
reliant on other entities and service providers in connection with the administration of the Bonds, including
without limitation the County tax collector for the levy and collection of Reassessments and the Trustee. No
assurance can be given that the City and these other entities will not be affected by cyber threats and attacks in
a manner that may affect the Bond owners.
CONTINUING DISCLOSURE
The City has agreed to execute a Continuing Disclosure Certificate (the “Disclosure Certificate”) in
connection with the delivery of the Bonds for the benefit of the Underwriter, holders and beneficial owners of
the Bonds to provide certain financial information and operating data relating to the City no later than February
15 following the end of the City’s fiscal year (the “Annual Report”) and to provide notices of the occurrence of
certain enumerated events (the “Listed Events”). The Annual Reports will be filed on behalf of the City by
Spicer Consulting Group, LLC. (the “Dissemination Agent”) with the Municipal Securities Rulemaking Board.
Notices of Listed Events will be filed by the Dissemination Agent with the Municipal Securities Rulemaking
Board. The specific nature of the information to be included in the Annual Report and the notices of Listed
Events is set forth in APPENDIX F — “FORM OF CITY CONTINUING DISCLOSURE CERTIFICATE.”
The City has agreed to execute the Disclosure Certificate in order to assist the Underwriter in complying with
Securities and Exchange Commission Rule 15c2-12(b)(5) (the “Rule”). See APPENDIX F — “FORM OF
CONTINUING DISCLOSURE CERTIFICATE.”
It should be noted that the City is required to file certain financial statements with the Annual Report.
This requirement has been included in the Disclosure Certificate solely to satisfy the provisions of the Rule. The
inclusion of this information does not mean that the Bonds are secured by any resources or property of the City
other than the Reassessments and amounts pledged under the Indenture. See “SPECIAL RISK FACTORS —
Limited City Obligation Upon Delinquency.” It should also be noted that the list of significant events which the
City has agreed to report includes items related to credit enhancements and ratings. These items have been
included in the list solely to satisfy the requirements of the Rule. The Bonds have not been assigned a credit
rating and have no credit enhancement.
During the last five years the City and its affiliated entities and its affiliated entities (such as the
Authority, the Lake Elsinore Facilities Financing Authority, the City’s former redevelopment agency and its
successor agency (the “Agency”), and certain community facilities districts formed by the City) failed to comply
in certain respects with continuing disclosure obligations related to outstanding bonded indebtedness. The
failures to comply include late filings with respect to several annual reports, and failure to provide notice of late
annual financial information, more specifically:
(1) Comprehensive audited financial statements of the City, the Agency or certain community
facilities districts, as applicable for Fiscal Year 2014-15 were filed more than 30 days late.
(2) Updated tabular and other operating information relating to the City, the Agency and
community facilities districts for Fiscal Year 2016-17 were filed late, and certain instances more than 180 days
late.
(3) Failure to provide notices of the late filing of certain of the annual financial information that is
described in items (1) and (2) above.
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(4) Several of the annual reports included incomplete information relating to community facilities
districts, including tax prepayment information, improvement fund balances and special tax delinquency
information.
(5) Certain material event notices of changes in bond ratings were not filed in a timely fashion.
The City and its affiliated entities have made additional filings to provide certain of the previously
omitted information (including the existing ratings of the outstanding bonds).
The City has retained Spicer Consulting Group, LLC to serve as Dissemination Agent for the continuing
disclosure undertaking related to the Bonds, and has adopted policies and procedures with respect to its
continuing disclosure practices.
LEGAL OPINION
Certain proceedings in connection with the issuance of the Bonds are subject to the approval of Stradling
Yocca Carlson & Rauth, a Professional Corporation, Newport Beach, California, Bond Counsel (“Bond
Counsel”). The opinion of Bond Counsel attesting to the validity of the Bonds will be delivered with each Bond.
A form of the opinion to be delivered by Bond Counsel is set forth in Appendix D hereto.
Certain legal matters will be passed upon for the City by the City Attorney and by Stradling Yocca
Carlson & Rauth, a Professional Corporation, Newport Beach, California, as Disclosure Counsel. Certain legal
matters will be passed upon for the Underwriter by its counsel, Kutak Rock, LLP, Irvine, California.
TAX MATTERS
In the opinion of Bond Counsel, under existing statutes, regulations, rulings and judicial decisions,
interest with respect to the Bonds is exempt from State of California personal income tax. Interest on the Bonds
is not excluded from gross income for federal income tax purposes.
With certain exceptions, the difference between the issue price of a Bond (the first price at which a
substantial amount of the Bonds of the same maturity is to be sold to the public) and the stated redemption price
at maturity (to the extent that such issue price is lower than the stated redemption price at maturity) with respect
to such Bond constitutes original issue discount. Original issue discount accrues under a constant yield method.
The amount of original issue discount deemed received by the Beneficial Owner of a Bond will increase the
Beneficial Owner’s basis in the Bond.
The amount by which a Beneficial Owner’s original basis for determining gain or loss on sale or
exchange of the applicable Bond (generally, the purchase price) exceeds the amount payable on maturity (or on
an earlier call date) constitutes amortizable Bond premium, which a Beneficial Owner may elect to amortize
under Section 171 of the Code; such amortizable Bond premium reduces the Beneficial Owner’s basis in the
applicable Bond (and the amount of taxable interest received), and is deductible for federal income tax purposes.
The basis reduction as a result of the amortization of Bond premium may result in a Beneficial Owner realizing
a taxable gain when a Bond is sold by the Beneficial Owner for an amount equal to or less (under certain
circumstances) than the original cost of the Bond to the Beneficial Owner. The Beneficial Owners of Bonds
should consult their own tax advisors as to the treatment, computation and collateral consequences of amortizable
Bond premium.
In the event of a legal defeasance of a Bond, such Bond might be treated as retired and “reissued” for
federal tax purposes as of the date of the defeasance, potentially resulting in recognition of taxable gain or loss
to the applicable Beneficial Owner generally equal to the difference between the amount deemed realized from
the deemed redemption and reissuance and the Beneficial Owner’s adjusted tax basis in such Bond.
28
The federal tax and State of California personal income tax discussion set forth above is included for
general information only and may not be applicable depending upon a Beneficial Owner’s particular situation.
The ownership and disposal of the Bonds and the accrual or receipt of interest with respect to the Bonds may
otherwise affect the tax liability of certain persons. Bond Counsel expresses no opinion regarding any such tax
consequences. Accordingly, before purchasing any of the Bonds, all potential purchasers should consult their
tax advisors with respect to collateral tax consequences relating to the Bonds.
A copy of the proposed form of opinion of Bond Counsel is attached hereto as Appendix D.
LITIGATION
There is no action, suit, or proceeding known by the City to be pending at the present time restraining
or enjoining the delivery of the Bonds or in any way contesting or affecting the validity of the Bonds or any
proceedings of the City taken with respect to the execution or delivery thereof. A no litigation certificate
executed by the City will be required to be delivered to the Underwriter with respect to these matters
simultaneously with the delivery of the Bonds.
FINANCIAL INTERESTS
The fees being paid to the Underwriter, Municipal Advisor, Bond Counsel, Disclosure Counsel and
Underwriter’s Counsel are contingent upon the issuance and delivery of the Bonds. From time to time, Bond
Counsel represents the Underwriter on matters unrelated to the Bonds.
RATING
S&P Global Ratings, a business unit of Standard & Poor’s Financial Services LLC (“S&P”) is has
assigned its municipal bond rating of “___” to the Bonds. Such rating reflects only the view of the S&P, and an
explanation of the significance of such rating may be obtained only from S&P, at the following address:
Standard & Poor’s, 55 Water Street, New York, New York 10041. Generally, a rating agency bases its credit
rating on the information and materials furnished to it and on investigations, studies and assumptions of its own.
Such rating is not a recommendation to buy, sell or hold the Bonds. There is no assurance that a rating will
remain in effect for any given period of time or such rating will not be revised, either downward or upward, or
withdrawn entirely, by the rating agency if, in its judgment, circumstances so warrant. Any such downward
revision or withdrawal could have an adverse effect on the market price of the Bonds.
VERIFICATION
Causey Demgen & Moore P.C., Denver, Colorado, upon delivery of the Bonds, will deliver a report on
the mathematical accuracy of certain computations, contained in schedules provided to them which were
prepared by the Underwriter, relating to the sufficiency of moneys and securities deposited into the Escrow
Funds to pay, when due, the principal, whether at maturity or upon prior redemption, and interest requirements
of the Prior Bonds and the Prior Authority Bonds.
The report of Causey Demgen & Moore P.C., will include the statement that the scope of its engagement
is limited to verifying the mathematical accuracy of the computations contained in such schedules provided to
it, and that it has no obligation to update its report because of events occurring, or data or information coming
to its attention, subsequent to the date of its report.
MUNICIPAL ADVISOR
Urban Futures, Inc. (the “Municipal Advisor”), has been engaged by the City to perform financial
services in connection with the delivery of the Bonds and certain other financial matters. The Municipal Advisor
is an independent advisory firm and is not engaged in the business of underwriting, trading or distributing
29
municipal securities or other public securities. The Municipal Advisor is not contractually obligated to
undertake, and has not undertaken to make, an independent verification or to assume responsibility for the
accuracy, completeness or fairness of the information contained in this Official Statement.
UNDERWRITING
The Bonds are being purchased by the Underwriter. The Underwriter has agreed to purchase the Bonds
at a price of $__________ (aggregate principal amount of the Bonds, and less an Underwriter’s discount of
$________). The Bond Purchase Agreement relating to the Bonds provides that the Underwriter will purchase
all of the Bonds if any are purchased, the obligation to make such purchase being subject to certain terms and
conditions set forth in the Bond Purchase Agreement, the approval of certain legal matters by counsel and certain
other conditions.
The Underwriter may offer and sell Bonds to certain dealers and others at prices lower than the offering
prices stated on the inside cover page hereof. The offering prices may be changed from time to time by the
Underwriter.
MISCELLANEOUS
All quotations from, and summaries and explanations of, the Indenture, the Continuing Disclosure
Certificate and other statutes and documents contained herein do not purport to be complete, and reference is
made to said documents and statutes for full and complete statements of their provisions.
This Official Statement is submitted only in connection with the sale of the Bonds by the City. All
estimates, assumptions, statistical information and other statements contained herein, while taken from sources
considered reliable, are not guaranteed by the City or the Underwriter. The information contained herein should
not be construed as representing all conditions affecting the City or the Bonds.
The execution and delivery of this Official Statement have been authorized by the City.
CITY OF LAKE ELSINORE
By:
City Manager of the City of Lake Elsinore
A-1
APPENDIX A
REASSESSMENT DIAGRAM
B-1
APPENDIX B
EXCEPTS FROM REASSESSMENT REPORT
C-1
APPENDIX C
SUMMARY OF THE INDENTURE
The following is a brief summary of certain provisions of the Indenture governing the terms of the Bonds.
This summary includes only the provisions of the Indenture not already summarized in the Official Statement and does
not purport to be complete and is qualified in its entirety by reference to the Indenture. All capitalized terms used
with respect to the Bonds and not defined in this Official Statement have the meanings set forth in the Indenture.
[TO BE INSERTED BY BOND COUNSEL]
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APPENDIX D
OPINION OF BOND COUNSEL
[Date of Delivery]
City Council
City of Lake Elsinore
Lake Elsinore, California
Re: City of Lake Elsinore Reassessment District No. 2021-1 Limited Obligation Refunding
Bonds (Federally Taxable)
Ladies and Gentlemen:
We have examined certified copies of proceedings taken by the City of Lake Elsinore (the “City”) for
the issuance of bonds designated “City of Lake Elsinore Reassessment District No. 2021-1 Limited Obligation
Refunding Bonds (Federally Taxable)” (the “Bonds”) pursuant to the Refunding Act of 1984 for 1915
Improvement Act Bonds (Division 11.5 of the Streets and Highways Code of California). The Bonds are issued
pursuant to the City’s Resolution No. 2021-__ (the “Resolution of Issuance”) and an Indenture dated as of May
1, 2021 (the “Indenture”), by and between the City and Wilmington Trust, National Association as Trustee. This
examination covers said proceedings down to and including the issuance of the Bonds; however, we have made
no examination of the ownership or use of the property assessed. In rendering this opinion, we have relied upon
certain representations of fact and certifications made by or on behalf of the City, the initial purchasers of the
Bonds and others. We have not undertaken to verify through independent investigation the accuracy of the
representations and certifications relied upon by us. Capitalized terms not defined herein shall have the meaning
set forth in the Indenture.
Based upon the foregoing and in reliance thereon and on all matters of fact we deem relevant under the
circumstances, and upon consideration of applicable laws, we are of the opinion that:
1. The City has duly authorized the issuance of the Bonds. The Bonds and the Indenture constitute
legal, valid and binding limited obligations of the City enforceable in accordance with their terms, except to the
extent that enforceability may be limited by moratorium, bankruptcy, reorganization, fraudulent conveyance or
transfer, insolvency or other laws affecting creditors’ rights generally, by the application of equitable principles,
by the exercise of judicial discretion in appropriate cases and by limitations on legal remedies against public
agencies in the State of California; provided, however, we express no opinion with respect to any
indemnification, contribution, penalty, choice of law or waiver provisions contained therein.
2. The Bonds are issued upon and secured by the unpaid Reassessments in the Reassessment
District, together with interest thereon; said unpaid Reassessments together with interest thereon, constitute a
trust fund for the redemption and payment of the principal of the Bonds and the interest thereon; the Bonds are
secured by the moneys in the Redemption Fund established in the Indenture and by the unpaid Reassessments;
and the Bonds are payable, as to both principal and interest, exclusively out of said Redemption Fund.
3. The Indenture creates a valid pledge of and lien upon the unpaid Reassessments and the interest
thereon and the moneys in all funds and accounts established pursuant to the Indenture, other than the
Administrative Expense Fund, including the investments thereof, subject in all cases to the provisions of the
Indenture permitting the application thereof for the purposes and on the terms and conditions set forth therein.
4. Interest on the Bonds is not excluded from gross income for federal income tax purposes but is
exempt from State of California personal income tax.
5. The difference between the issue price of a Bond (the first price at which a substantial amount
of the Bonds of the same series and maturity is to be sold to the public) and the stated redemption price at
D-2
maturity (to the extent that such issue price is lower than the stated redemption price at maturity) with respect to
such Bond constitutes original issue discount. Original issue discount accrues under a constant yield method.
The amount of original issue discount deemed received by the Bond owner will increase the Bond owner’s basis
in the Bond.
6. The amount by which a Bond owner’s original basis for determining loss on sale or exchange
in the applicable Bond (generally, the purchase price) exceeds the amount payable on maturity (or on an earlier
call date) constitutes amortizable Bond premium, which may at the election of such owner of the Bonds be
amortized under Section 171 of the Internal Revenue Code of 1986, as amended (the “Code”). Such amortizable
bond premium reduces the owner’s basis in the applicable Bond (and the amount of taxable interest received)
and is deductible for federal income tax purposes. The basis reduction as a result of the amortization of Bond
premium may result in a Bond owner realizing a taxable gain when a Bond is sold by the owner for an amount
equal to or less (under certain circumstances) than the original cost of the Bond to the owner.
Except as set forth in paragraphs 3 through 5 above, we express no opinion as to any tax consequences
related to the Bonds. Other provisions of the Code may give rise to adverse federal income tax consequences to
particular Bondholders. The scope of this opinion is limited to matters addressed above and no opinion is
expressed hereby regarding other federal tax consequences that may arise due to ownership of the Bonds. Before
purchasing any of the Bonds, all potential purchasers should consult their independent tax advisors with respect
to the tax consequences relating to the Bonds and the taxpayer’s particular circumstances.
We are admitted to the practice of law only in the State of California and our opinion is limited to
matters governed by the laws of the State of California and federal law. We assume no responsibility with
respect to the applicability or the effect of the laws of any other jurisdiction.
Our engagement as Bond Counsel terminates upon the issuance of the Bonds and we have not
undertaken to determine, or to inform any person, whether any such actions or events are taken (or not taken) or
do occur (or do not occur).
The opinions expressed herein are based upon our analysis and interpretation of existing laws,
regulations, rulings and judicial decisions and cover certain matters not directly addressed by such authorities.
By delivering this letter, we are not expressing any opinion with respect to any indemnification,
contribution, liquidated damages, penalty (including any remedy deemed to constitute a penalty), right of set-
off, arbitration, judicial reference, choice of law, choice of forum, choice of venue, non-exclusivity of remedies,
waiver or severability provisions contained in the Bonds or the Indenture.
We express no opinion herein as to the accuracy, completeness or sufficiency of the Official Statement
relating to the Bonds or other offering material relating to the Bonds and expressly disclaim any duty to advise
the Owners of the Bonds with respect to matters contained in the Official Statement.
Respectfully submitted,
E-1
APPENDIX E
BOOK-ENTRY ONLY SYSTEM
The information in this section concerning DTC and DTC’s book-entry only system has been obtained
from sources that the City believes to be reliable, but the City takes no responsibility for the completeness or
accuracy thereof. The following description of the procedures and record keeping with respect to beneficial
ownership interests in the Bonds, payment of principal, premium, if any, accreted value and interest on the Bonds
to DTC Participants or Beneficial Owners, confirmation and transfers of beneficial ownership interests in the
Bonds and other related transactions by and between DTC, the DTC Participants and the Beneficial Owners is
based solely on information provided by DTC.
The Depository Trust Company (“DTC”), New York, New York, will act as securities depository for the
Bonds. The Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s
partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully -
registered Bond will be issued for each annual maturity of the Bonds, each in the aggregate principal amount of such
maturity, and will be deposited through the facilities of DTC.
DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New
York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the
Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code,
and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934.
DTC holds and provides asset servicing for over 3.6 million issues of U.S. and non-U.S. equity issues, corporate and
municipal debt issues, and money market instruments (from over 100 countries) that D TC’s participants (“Direct
Participants”) deposit with DTC. DTC also facilitates the post trade settlement among Direct Participants of sales and
other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges
between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates.
Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing
corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing
Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed
Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its
regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities
brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial
relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”). DTC has a Standard &
Poor’s rating of “AA+.” The DTC Rules applicable to its Participants are on file with the Securities and Exchange
Commission. More information about DTC can be found at www.dtcc.com.
Purchases of Bonds under the DTC system must be made by or through Direct Participants, which will
receive a credit for the Bonds on DTC’s records. The ownership interest of each actual purchaser of each Bond
(“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners
will not receive written confirmation from DTC of their purchase. Beneficial Owners are, ho wever, expected to
receive written confirmations providing details of the transaction, as well as periodic statements of their holdings,
from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of
ownership interests in the Bonds are to be accomplished by entries made on the books of Direct and Indirect
Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive Bonds representing their
ownership interests in Bonds, except in the event that use of the book-entry system for the Bonds is discontinued.
To facilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are registered in the
name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized
representative of DTC. The deposit of Bonds with DTC and their registration in the name of Cede & Co. or such
other DTC nominee do not affect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial
Owners of the Bonds; DTC’s records reflect only the identity of the Direct Participants to whose accounts such Bonds
are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain
responsible for keeping account of their holdings on behalf of their customers.
E-2
Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to
Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Own ers will be governed by
arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time.
Beneficial Owners of Bonds may wish to take certain steps to augment the transmission to them of notices of
significant events with respect to the Bonds, such as prepayments, tenders, defaults, and proposed amendments to the
Bond documents. For example, Beneficial Owners of Bonds may wish to ascertain that the nominee holding the
Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial
Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided
directly to them.
Redemption notices shall be sent to DTC. If less than all of the Bonds within a maturity are being prepaid,
DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such maturity to be
redeemed.
Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Bonds unless
authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC
mails an Omnibus Proxy to the City as soon as possible after the record date. The Omnibus Proxy assigns Cede &
Co.’s consenting or voting rights to those Direct Participants to whose accounts Bonds are credited on the record date
(identified in a listing attached to the Omnibus Proxy).
Redemption proceeds, distributions, and dividend payments on the Bonds will be made to Cede & Co., or
such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct
Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from the City or the Trustee,
on payable date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to
Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities
held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such
Participant and not of DTC, the Trustee, or the City, subject to any statutory or regulatory requirements as may be in
effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or
such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the City or
the Trustee, disbursement of such payments to Direct Partici pants will be the responsibility of DTC, and disbursement
of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants.
A Bond Owner shall give notice to elect to have its Bonds purchased or tendered, through its Participant, to
the Trustee, and shall effect delivery of such Bonds by causing the Direct Participant to transfer the Participant’s
interest in the Bonds, on DTC’s records, to the Trustee. The requirement for physical delivery of Bonds in connection
with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Bonds are
transferred by Direct Participants on DTC’s records and followed by a book -entry credit of tendered Bonds to the
Trustee’s DTC account.
DTC may discontinue providing its services as depository with respect to the Bonds at any time by giving
reasonable notice to the City or the Trustee. Under such circumstances, in the event that a successor depository is not
obtained, physical certificates are required to be printed and delivered.
The City may decide to discontinue use of the system of book-entry only transfers through DTC (or a
successor securities depository). In that event, Bonds will be printed and delivered to DTC.
THE TRUSTEE, AS LONG AS A BOOK-ENTRY ONLY SYSTEM IS USED FOR THE BONDS, WILL
SEND ANY NOTICE OF REDEMPTION OR OTHER NOTICES TO OWNERS ONLY TO DTC. ANY FAILURE
OF DTC TO ADVISE ANY DTC PARTICIPANT, OR OF ANY DTC PARTICIPANT TO NOTIFY ANY
BENEFICIAL OWNER, OF ANY NOTICE AND ITS CONTENT OR EFFECT WILL NOT AFFECT THE
VALIDITY OF SUFFICIENCY OF THE PROCEEDINGS RELATING TO THE REDEMPTION OF THE BONDS
CALLED FOR REDEMPTION OR OF ANY OTHER ACTION PREMISED ON SUCH NOTICE.
F-1
APPENDIX F
FORM OF CONTINUING DISCLOSURE CERTIFICATE
[TO BE INSERTED BY BOND COUNSEL]
G-1
APPENDIX G
INFORMATION CONCERNING THE CITY OF LAKE ELSINORE
AND COUNTY OF RIVERSIDE
Set forth below is certain demographic information regarding the City of Lake Elsinore (the “City”)
and the County of Riverside (the “County”). This information is provided for informational purposes only and
general background. The information set forth herein has been obtained from third party sources believed to
be reliable, but such information is not guaranteed by the City as to accuracy or completeness. Neither the
delivery of this Official Statement nor any sale thereafter of the securities offered hereby shall under any
circumstances create any implication that there has been no change in any information contained in this
Appendix G since the date of the Official Statement. The Bonds are not a debt of the City, the County, the State,
or any of its political subdivisions, and none of the City, the County, the State nor any of its political subdivisions
is liable thereon. The information and data within this Appendix G is the latest data available; however, the
current state of the economy at City, County, State and national levels may not be reflected in the data discussed
below because more up-to-date publicly available information is not available to the City.
General Information
The City was founded in 1883 and incorporated as a general law city effective April 23, 1888 in San
Diego County. In 1893, the Elsinore Valley, previously located in San Diego County, became part of the new
County of Riverside. The City encompasses approximately 43 square miles, with over 10 miles of lakeshore,
and is located at the southwestern end of the County, 73 miles southeast of downtown Los Angeles and 74 miles
north of downtown San Diego.
Population
The following table offers population figures for the City, the County and the State for 2016 through
2020.
Area 2016 2017 2018 2019 2020
City of Lake Elsinore 60,408 61,574 62,536 63,154 63,453
County of Riverside 2,343,785 2,376,580 2,400,762 2,422,146 2,442,304
State of California 39,131,307 39,398,702 39,586,646 39,695,376 39,782,870
Source: California State Department of Finance, Demographic Research Unit. 2010 Census Benchmark.
Employment and Industry
Employment data by industry is not separately reported on an annual basis for the City but is compiled
for the Riverside-San Bernardino-Ontario Metropolitan Statistical Area (the “MSA”), which includes all of
Riverside and San Bernardino Counties. In addition to varied manufacturing employment, the MSA has large
and growing commercial and service sector employment, as reflected in the table below.
G-2
The following table summarizes the labor force, employment and unemployment figures for the period
from 2016 through 2020 for the City, the County, the State and the nation as a whole.
CITY OF LAKE ELSINORE,
COUNTY OF RIVERSIDE,
STATE OF CALIFORNIA AND UNITED STATES
Average Annual Civilian Labor Force, Employment and Unemployment
Year and Area Labor Force Employment(1) Unemployment(2)
Unemployment
Rate (%)(3)
2016
City of Lake Elsinore 28,300 26,700 1,600 5.7%
County of Riverside 1,052,400 988,100 64,300 6.1
State of California 19,044,500 18,002,800 1,041,700 5.5
United States 159,187,000 151,436,000 7,751,000 4.9
2017
City of Lake Elsinore 29,400 28,000 1,400 4.8%
County of Riverside 1,073,400 1,017,100 56,300 5.2
State of California 19,205,300 18,285,500 919,800 4.8
United States 160,320,000 153,337,000 6,982,000 4.4
2018
City of Lake Elsinore 30,000 28,800 1,200 4.0%
County of Riverside 1,092,400 1,044,600 47,800 4.4
State of California 19,398,200 18,582,800 815,400 4.2
United States 162,075,000 155,761,000 6,314,000 3.9
2019
City of Lake Elsinore 30,800 29,600 1,200 3.9%
County of Riverside 1,104,000 1,057,900 46,100 4.2
State of California 19,411,600 18,627,400 784,200 4.0
United States 163,539,000 157,538,000 6,001,000 3.7
2020
City of Lake Elsinore 31,300 28,100 3,100 10.1%
County of Riverside 1,107,700 997,700 110,000 9.9
State of California 18,821,200 16,913,100 1,908,100 10.1
United States 160,742,000 147,795,000 12,947,000 8.1
Note: Data is not seasonally adjusted.
(1) Annual averages, unless otherwise specified.
(2) Includes persons involved in labor-management trade disputes.
(3) The unemployment rate is computed from unrounded data; therefore, it may differ from rates computed from rounded figures
in this table.
Source: U.S. Department of Labor – Bureau of Labor Statistics, California Employment Development Department, 2020
Benchmark.
G-3
The following table represents the Annual Average Labor Force and Industry Employment for the
period from 2016 through 2020.
RIVERSIDE-SAN BERNARDINO-ONTARIO MSA
INDUSTRY EMPLOYMENT & LABOR FORCE - BY ANNUAL AVERAGE
2016 2017 2018 2019 2020
Civilian Labor Force 1,981,900 2,014,300 2,045,200 2,070,700 2,073,900
Civilian Employment 1,863,600 1,910,800 1,957,200 1,986,100 1,872,600
Civilian Unemployment 118,300 103,500 88,000 84,600 201,300
Civilian Unemployment Rate 6.0% 5.1% 4.3% 4.1% 9.7%
Total Farm 14,600 14,500 14,500 15,400 13,900
Total Nonfarm 1,401,400 1,452,800 1,506,600 1,552,100 1,487,800
Total Private 1,159,100 1,201,800 1,248,800 1,290,900 1,238,700
Goods Producing 190,400 196,400 206,100 208,900 200,500
Mining and Logging 900 1,000 1,200 1,200 1,300
Construction 92,000 97,400 105,200 107,200 105,000
Manufacturing 97,500 98,000 99,800 100,600 94,300
Service Providing 1,211,000 1,256,400 1,299,900 1,343,200 1,287,400
Trade, Transportation and Utilities 346,300 363,400 378,800 394,400 403,800
Wholesale Trade 61,600 62,600 65,500 67,100 64,600
Retail Trade 178,300 180,900 181,200 180,700 168,800
Transportation, Warehousing and Utilities 106,400 119,900 132,100 146,600 170,500
Information 11,800 11,600 11,400 11,500 9,400
Financial Activities 44,900 44,700 44,600 45,000 43,700
Professional and Business Services 145,100 147,300 152,000 158,700 154,000
Educational and Health Services 215,700 226,700 239,500 250,300 248,700
Leisure and Hospitality 160,200 166,300 170,600 175,900 139,200
Other Services 44,600 45,400 45,800 46,200 39,600
Government 242,300 251,000 257,200 261,200 249,100
Total, All Industries 1,416,000 1,467,300 1,520,500 1,567,500 1,501,800
Note: Does not include proprietors, self-employed, unpaid volunteers or family workers, domestic workers in households and persons involved
in labor-management trade disputes. Employment reported by place of work. Items may not add to total due to independent rounding.
The “Total, All Industries” data is not directly comparable to the employment data found in this Appendix C.
Source: State of California, Employment Development Department, March 2020 Benchmark.
The following tables show the largest employers located in the City and County as of June 30, 2020.
LARGEST EMPLOYERS
City of Lake Elsinore
(as of June 30, 2020)
Rank Name of Business Employees Type of Business
1. Lake Elsinore Unified School District 2,598 School District
2. M & M Framing 500 Construction
3. Costco 311 Retail Stores
4. Stater Bros 293 Supermarkets
5. Walmart 250 Retail Stores
6. Lake Elsinore Hotel & Casino 230 Casino & Resort
7. Riverside County – Dept. of Social Services 166 Government
8. Elsinore Valley Municipal Water District 154 Water District
9. Home Depot 143 Building Supplies
10. Target 135 Retail Stores
Source: City of Lake Elsinore Comprehensive Annual Financial Report for the year ending June 30, 2020.
G-4
LARGEST EMPLOYERS
County of Riverside
(as of June 30, 2020)
Rank Name of Business Employees Type of Business
1. County of Riverside 21,672 County Government
2. Amazon 10,500 Online Retail
3. University of California-Riverside 9,770 University
4. March Air Reserve Base 9,600 Military Reserve Base
5. Stater Brothers Markets 8,304 Supermarkets
6. Kaiser Permanente Riverside Medical Center 5,700 Medical Center
7. Pechanga Resort and Casino 5,078 Casino & Resort
8. Walmart 4,931 Retail Stores
9. Corona-Norco Unified School District 4,903 School District
10. Ross Dess for Less 4,321 Retail Stores
Source: County of Riverside Comprehensive Annual Financial Report for the year ending June 30, 2020.
Personal Income
Personal Income is the income that is received by all persons from all sources. It is calculated as the
sum of wage and salary disbursements, supplements to wages and salaries, proprietors’ income with inventory
valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment,
personal dividend income, personal interest income, and personal current transfer receipts, less contributions for
government social insurance.
The personal income of an area is the income that is received by, or on behalf of, all the individuals who
live in the area; therefore, the estimates of personal income are presented by the place of residence of the income
recipients.
Total personal income in Riverside County increased by 57.1% between 2008 and 2019. The following
tables summarize personal income for Riverside County for 2008 through 2019.
PERSONAL INCOME
Riverside County
2008-2019
(Dollars in Thousands)
Year Riverside County
Annual
Percent Change
2008 $66,718,107 --%
2009 65,363,159 (2.0)
2010 67,585,240 3.4
2011 71,936,625 6.4
2012 74,050,799 2.9
2013 76,519,738 3.3
2014 80,776,153 5.6
2015 86,196,663 6.7
2016 90,713,807 5.2
2017 94,542,096 4.2
2018 99,266,122 5.0
2019 104,794,676 5.6
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
G-5
The following table summarizes per capita personal income for Riverside County, California and the
United States for 2008-2019. This measure of income is calculated as the personal income of the residents of
the area divided by the resident population of the area.
PER CAPITA PERSONAL INCOME
Riverside County, State of California and the United States
2008-2019
Year Riverside County California United States
2008 $31,624 $43,890 $40,904
2009 30,448 42,044 39,284
2010 30,699 43,636 40,547
2011 32,200 46,175 42,739
2012 32,748 48,813 44,605
2013 33,462 49,303 44,860
2014 34,875 52,363 47,071
2015 36,745 55,833 49,019
2016 38,114 58,048 50,015
2017 39,148 60,549 52,118
2018 40,587 63,720 54,606
2019 42,418 66,619 56,490
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Taxable Sales
The table below presents taxable sales for the years 2012 through 2019(1) for the City.
TAXABLE SALES
City of Lake Elsinore
2012-2019(1)
(Dollars in Thousands)
Year Permits Taxable Transactions
2012 1,274 $665,409
2013 1,716 688,483
2014 1,176 728,088
2015(1) 1,388 796,126
2016 1,510 821,942
2017 1,529 854,947
2018 1,626 869,151
2019 1,692 905,476
(1) Beginning in 2015, the outlet counts in these reports show the number of outlets that were active during the reporting period.
Retailers that operate part-time are now tabulated with store retailers. Industry-level data for 2015 are not comparable to that
of prior years.
Source: “Taxable Sales in California (Sales & Use Tax)” — California State Board of Equalization for 2012-2014. Taxable Sales
in California, California Department of Tax and Fee Administration for 2015-2019.
G-6
The table below presents taxable sales for the years 2012 through 2019(1) for the County.
TAXABLE SALES
County of Riverside
2012-2019(1)
(Dollars in Thousands)
Year Permits Taxable Transactions
2012 46,316 $28,096,009
2013 46,805 30,065,467
2014 48,453 32,035,687
2015(1) 55,857 33,166,660
2016 57,742 34,483,693
2017 58,969 36,407,460
2018 61,433 38,919,498
2019 64,063 40,626,998
(1) Beginning in 2015, the outlet counts in these reports show the number of outlets that were active during the reporting period .
Retailers that operate part-time are now tabulated with store retailers. Industry-level data for 2015 are not comparable to that
of prior years.
Source: “Taxable Sales in California (Sales & Use Tax)” — California State Board of Equalization for 2012-2014. Taxable Sales
in California, California Department of Tax and Fee Administration for 2015-2019
Building Activity
The following tables provide summaries of the building permit valuations and the number of new
dwelling units authorized in the City and County from 2015 through 2019.
BUILDING PERMIT VALUATIONS
City of Lake Elsinore
2015-2019
(Dollars in Thousands)
2015 2016 2017 2018 2019
Valuation ($000):
Residential $ 75,979 $121,212 $165,978 $102,858 $94,437
Non-residential 5,870 18,588 13,739 13,307 26,442
Total* $ 81,849 $139,800 $179,717 $116,165 $120,879
Residential Units:
Single family 372 457 569 345 327
Multiple family 0 0 0 0 83
Total 372 457 569 345 410
* Totals may not add to sums because of rounding.
Source: Construction Industry Research Board.
BUILDING PERMIT VALUATIONS
County of Riverside
G-7
2015-2019
(Dollars in Thousands)
2015 2016 2017 2018 2019
Valuation ($000):
Residential $1,536,742 $1,759,535 $1,903,417 $2,558,081 $2,275,405
Non-residential 911,465 1,346,019 1,433,691 1,959,680 1,285,856
Total* $2,448,207 $3,105,554 $3,337,108 $4,517,761 $3,561,261
Residential Units:
Single family 5,007 5,662 6,265 7,540 6,563
Multiple family 1,189 1,039 1,070 1,628 1,798
Total 6,196 6,701 7,335 9,168 8,361
* Totals may not add to sums because of rounding.
Source: Construction Industry Research Board.
Stradling Yocca Carlson & Rauth
Draft of 4/6/21
4811-7828-9115v4/022042-0037
INDENTURE
By and Between
CITY OF LAKE ELSINORE
and
WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Trustee
Relating to
$_______
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BONDS
(FEDERALLY TAXABLE)
Dated as of May 1, 2021
Table of Contents
Page
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ARTICLE I
DEFINITIONS
Section 101. Definitions ................................................................................................................. 1
Section 102. Interpretation ............................................................................................................ 10
Section 103. Equality of Bonds; Pledge of Reassessments; No Obligation to Cure
Deficiency ................................................................................................................ 10
ARTICLE II
AUTHORIZATION AND ISSUANCE OF BONDS
Section 201. Authorization and Designation of Bonds ................................................................. 10
Section 202. Type and Nature of Bonds; Limited Liability.......................................................... 11
Section 203. Authorization and Purpose of Bonds ....................................................................... 11
Section 204. Terms of Bonds ........................................................................................................ 11
Section 205. Execution and Authentication .................................................................................. 13
Section 206. Book-Entry System .................................................................................................. 14
Section 207. Representation Letter ............................................................................................... 14
Section 208. Payments to the Nominee ........................................................................................ 15
Section 209. Initial Depository and Nominee ............................................................................... 15
Section 210. Transfers Outside of Book-Entry System ................................................................ 15
Section 211. Registration, Exchange or Transfer ......................................................................... 15
Section 212. Bond Register .......................................................................................................... 15
Section 213. Mutilated, Lost, Destroyed or Stolen Bonds ............................................................ 16
Section 214. Refunding of Bonds ................................................................................................. 16
ARTICLE III
REDEMPTION OF BONDS
Section 301. Provisions for the Redemption of Bonds ................................................................. 16
Section 302. Notice of Redemption .............................................................................................. 17
Section 303. Partial Redemption of Bonds ................................................................................... 18
Section 304. Selection of Bonds for Redemption ......................................................................... 18
Section 305. Effect of Notice and Availability of Redemption Money ........................................ 18
ARTICLE IV
CREATION OF FUNDS AND ACCOUNTS;
APPLICATION OF PROCEEDS AND ASSESSMENTS
Section 401. Funds and Accounts ................................................................................................. 19
Section 402. Application of Proceeds of the Sale of Bonds ......................................................... 19
Section 403. Costs of Issuance Fund ............................................................................................ 20
Section 404. Reassessment Fund .................................................................................................. 20
Section 405. Redemption Fund ..................................................................................................... 20
Section 406. Reserve Fund ........................................................................................................... 21
Table of Contents
(continued)
Page
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Section 407. Investments .............................................................................................................. 22
ARTICLE V
COVENANTS AND WARRANTY
Section 501. Warranty .................................................................................................................. 23
Section 502. Covenants................................................................................................................. 23
Section 503. Continuing Disclosure ............................................................................................. 25
ARTICLE VI
AMENDMENTS TO AGREEMENT
Section 601. Amendments Not Requiring Bondowner Consent .................................................. 25
Section 602. Amendments Requiring Bondowner Consent ......................................................... 25
Section 603. Notation of Bonds; Delivery of Amended Bonds .................................................... 26
ARTICLE VII
TRUSTEE
Section 701. Trustee ..................................................................................................................... 27
Section 702. Removal of Trustee .................................................................................................. 28
Section 703. Resignation of Trustee ............................................................................................. 28
Section 704. Liability of Trustee .................................................................................................. 28
Section 705. Interested Transactions ............................................................................................ 31
Section 706. Agents ...................................................................................................................... 31
ARTICLE VIII
EVENTS OF DEFAULT; REMEDIES
Section 801. Event of Default ....................................................................................................... 31
Section 802. Remedies .................................................................................................................. 32
Section 803. Application of funds upon an event of default......................................................... 32
ARTICLE IX
DEFEASANCE
Section 901. Defeasance ............................................................................................................... 33
ARTICLE X
MISCELLANEOUS
Section 1001. Cancellation of Bonds .............................................................................................. 34
Table of Contents
(continued)
Page
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4811-7828-9115v4/022042-0037
Section 1002. Execution of Documents and Proof of Ownership .................................................. 34
Section 1003. Unclaimed Moneys .................................................................................................. 34
Section 1004. Provisions Constitute Contract; Successors ............................................................. 35
Section 1005. Further Assurances; Incontestability........................................................................ 35
Section 1006. Severability .............................................................................................................. 35
Section 1007. General Authorization .............................................................................................. 35
Section 1008. Liberal Construction ................................................................................................ 36
Section 1009. Notice ....................................................................................................................... 36
Section 1010. Action on Next Business Day .................................................................................. 36
EXHIBIT A Form of Bond ........................................................................................................ A-1
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INDENTURE
This Indenture, dated as of May 1, 2021 (this “Indenture”), is made and entered into by the
City of Lake Elsinore (the “City”), a general law city and municipal corporation, duly established and
existing under the Constitution and laws of the State of California (the “State”), and Wilmington Trust,
National Association (the “Trustee”) in connection with City of Lake Elsinore Reassessment District
No. 2021-1 (Canyon Hills) (the “Reassessment District”).
WITNESSETH:
WHEREAS, the City Council of the City (the “City Council”) has taken proceedings under the
Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the California Streets and
Highways Code (the “1984 Act”), for the reassessment of parcels with unpaid assessments within
Assessment District No. 93-1 (Canyon Hills) (the “Assessment District”) and has confirmed a
reassessment, which reassessment and a related diagram were recorded with the Superintendent of
Streets of the City, and a notice of reassessment, as prescribed in Section 31 14 of the California Streets
and Highways Code, has been recorded with the County Recorder of the County of Riverside,
whereupon the assessment attached as a lien upon the property reassessed within the Reassessment
District which encompasses all of the propert y within the Assessment District as provided in Section
3115 of the Code; and
WHEREAS, it is necessary and desirable that the City sell refunding bonds (the “Bonds”)
pursuant to the 1984 Act to represent the unpaid reassessments and to refund certain outstanding
Limited Obligation Improvement Bonds issued by the City for the Assessment District;
NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other
valuable consideration the receipt and sufficiency of which is hereby ackno wledged, the parties hereto
do hereby agree as follows:
ARTICLE I
DEFINITIONS
Section 101. Definitions. Unless the context otherwise requires, the following terms shall
have the following meanings:
“Act” means, collectively, the 1915 Act and the 1984 Act.
“Administrative Expense Fund” means the City of Lake Elsinore Reassessment District No.
2021-1 Administrative Expense Fund established and held by the City pursuant to Section 401 hereof.
“Administrative Expense Requirement” means an amount, not in excess of the aggregate
maximum annual assessment for Administrative Expenses permitted to be levied within the
Assessment District as set forth in the Reassessment Report, to be specified each year by the Treasurer
to be used for Administrative Expenses.
“Administrative Expenses” means the ordinary and necessary fees and expenses for
determination of the Reassessment and administering the levy and collection of the Reassessment and
servicing, calling and redeeming the Bonds, including any or all of the following: the fees and ex penses
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4811-7828-9115v4/022042-0037
of the Trustee (including any fees or expenses of its counsel), the expenses of the City in carrying out
its duties hereunder (including, but not limited to, annual audits and costs incurred in the levying and
collection of the Reassessment) including the fees and expenses of its counsel and all other costs and
expenses of the City or the Trustee incurred in connection with the discharge of their respective duties
hereunder and, in the case of the City, in any way related to the administration of the Assessment
District.
“Assessment District” means the City’s Assessment District No. 93-1 (Canyon Hills).
“Authorized Investments” “Authorized Investments” means any of the following which at the
time of investment are legal investments under the laws of t he State for the moneys proposed to be
invested therein:
(1) (A) Direct obligations (other than an obligation subject to variation in principal
repayment) of the United States of America (“United States Treasury Obligations”); (B) obligations
fully and unconditionally guaranteed as to timely payment of principal and interest by the United States
of America; (C) obligations fully and unconditionally guaranteed as to timely payment of principal and
interest by any agency or instrumentality of the United State s of America when such obligations are
backed by the full faith and credit of the United States of America; or (D) evidences of ownership of
proportionate interests in future interest and principal payments on obligations described above held
by a bank or trust company as custodian, under which the owner of the investment is the real party in
interest and has the right to proceed directly and individually against the obligor and the underlying
government obligations are not available to any person claiming through the custodian or to whom the
custodian may be obligated;
(2) Federal Housing Administration debentures;
(3) The listed obligations of government-sponsored agencies which are not backed by the
full faith and credit of the United States of America:
- Federal Home Loan Mortgage Corporation (FHLMC): Participation certificates
(excluded are stripped mortgage securities which are purchased at prices exceeding their principal
amounts) and senior debt obligations,
- Federal Farm Credit Banks: Consolidated system-wide bonds and notes,
- Federal Home Loan Banks (FHL Banks): Consolidated debt obligations, and
- Federal National Mortgage Association (FNMA): Senior debt obligations and
mortgage-backed securities (excluded are stripped mortgage securities which ar e purchased at prices
exceeding their principal amounts);
(4) Unsecured certificates of deposit, time deposits, bank deposits, demand deposits and
bankers’ acceptances (having maturities of not more than 30 days) of any bank (including the Trustee
and any affiliate) the short-term obligations of which are rated “A-1” or better by Standard & Poor’s;
(5) Deposits the aggregate amount of which are fully insured by the Federal Deposit
Insurance Corporation (FDIC) in banks (including the Trustee and any affiliat e) which have capital
and surplus of at least $5 million;
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(6) Commercial paper (having original maturities of not more than 270 days rated at the
time of purchase “A-1” or “A-1+” by Standard & Poor’s and “Prime-1” by Moody’s;
(7) Money market funds rated “AAm” or “AAm-G” or better by Standard & Poor’s,
including such funds for which the Trustee, its affiliates or subsidiaries provide investment advisory
or other management services or for which the Trustee or an affiliate of the Trustee serves as
investment administrator, shareholder servicing agent, and/or custodian or subcustodian,
notwithstanding that (i) the Trustee or an affiliate of the Trustee receives fees from funds for services
rendered, (ii) the Trustee collects fees for services rendered pursuant to this Indenture, which fees are
separate from the fees received from such funds, and (iii) services performed for such funds and
pursuant to this Indenture may at times duplicate those provided to such funds by the Trustee or an
affiliate of the Trustee;
(8) “State Obligations,” which means:
(A) Direct general obligations of any state of the United States of America or any
subdivision or agency thereof to which is pledged the full faith and credit of a state the
unsecured general obligation debt of which is rated “A3” by Moody’s and “A-” by Standard &
Poor’s, or better, or any obligation fully and unconditionally guaranteed by any state,
subdivision or agency whose unsecured general obligation debt is so rated,
(B) Direct general short-term obligations of any state agency or subdivision or
agency thereof described in (A) above and rated “A-1+” by Standard & Poor’s and “Prime-l”
by Moody’s, and
(C) Special Revenue Bonds (as defined in the United States Bankruptcy Code) of
any state, state agency or subdivision described in (A) above and rated “AA-” or better by
Standard & Poor’s and “Aa3” or better by Moody’s;
(9) Pre-refunded municipal obligations rated by Standard & Poor’s and by Moody’s not
lower than United States Treasury Obligations meeting the following requirements:
(A) the municipal obligations are (1) not subject to redemption prior to maturity or
(2) the trustee for the municipal obligations has been given irrevocable instructions concerning
their call and redemption and the issuer of the m unicipal obligations has covenanted not to
redeem such municipal obligations other than as set forth in such instructions,
(B) the municipal obligations are secured by cash or United States Treasury
Obligations which may be applied only to payment of the p rincipal of, interest and premium
on such municipal obligations,
(C) the principal of and interest on the United States Treasury Obligations (plus
any cash in the escrow) has been verified by the report of independent certified public
accountants to be sufficient to pay in full all principal of, interest, and premium, if any, due
and to become due on the municipal obligations (“Verification”),
(D) the cash or United States Treasury Obligations serving as security for the
municipal obligations are held by an escrow agent or trustee in trust for owners of the municipal
obligations,
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(E) no substitution of a United States Treasury Obligation shall be permitted except
with another United States Treasury Obligation and upon delivery of a new Verification, and
(F) the cash or United States Treasury Obligations are not available to satisfy any
other claims, including those by or against the trustee or escrow agent;
(10) Repurchase agreements with (1) any domestic bank, or domestic branch of a foreign
bank, the long term debt of which is rated at least “A” by Standard & Poor’s and Moody’s; or (2) any
broker-dealer with “retail customers” or a related affiliate thereof which broker-dealer has, or the parent
company (which guarantees the provider) of which has, long-term debt rated at least “A” by Standard
& Poor’s and Moody’s, which broker-dealer falls under the jurisdiction of the Securities Investors
Protection Corporation; or (3) any other entity rated “A” or better by Standard & Poor’s and Moody’s,
provided that:
(A) The market value of the collateral is maintained at levels equal to 102% of the
amount of cash transferred by the Trustee to the provider of the repurchase agreement plus
accrued interest with the collateral being valued weekly and marked -to-market at one current
market price plus accrued interest,
(B) The Trustee or a third party acting solely as agent therefor or for the City strict
(the “Holder of the Collateral”) has possession of the collateral or the collateral has been
transferred to the Holder of the Collateral in accordance with applicable state and federal laws
(other than by means of entries on the transferor’s books),
(C) The repurchase agreement shall state and an opinion of counsel shall be
rendered at the time such collateral is delivered tha t the Holder of the Collateral has a perfected
first priority security interest in the collateral, any substituted collateral and all proceeds thereof
(in the case of bearer securities, this means the Holder of the Collateral is in possession), and
(D) The repurchase agreement shall provide that if during its term the provider’s
rating by either Moody’s or Standard & Poor’s is withdrawn or suspended or falls below “A”
by Standard & Poor’s or “A3” by Moody’s, as appropriate, the provider must, at the directi on
of the City or the Trustee, within 10 days of receipt of such direction, repurchase all collateral
and terminate the agreement, with no penalty or premium to the City or the Trustee;
(11) Investment agreements with a domestic or foreign bank or corporation the long-term
debt of which or, in the case of a guaranteed corporation the long -term debt, or, in the case of a
monoline financial guaranty insurance company, claims paying ability, of the guarantor is rated at least
“AA-” by Standard & Poor’s and “Aa3” by Moody’s; provided that, by the terms of the investment
agreement:
(A) interest payments are to be made to the Trustee at times and in amounts as
necessary to pay debt service (or, if the investment agreement is for the Costs of Issuance Fund,
construction draws) on the Bonds,
(B) the invested funds are available for withdrawal without penalty or premium, at
any time upon not more than seven days’ prior notice; the City and the Trustee hereby agree to
give or cause to be given notice in accordance with the terms of the investment agreement so
as to receive funds thereunder with no penalty or premium paid,
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4811-7828-9115v4/022042-0037
(C) the investment agreement shall state that is the unconditional and general
obligation of, and is not subordinated to any other obligation of, the provider thereof, or, in the
case of a bank, that the obligation of the bank to make payments under the agreement ranks
pari passu with the obligations of the bank to its other depositors and its other unsecured and
unsubordinated creditors,
(D) the City and the Trustee receives the opinion of domestic counsel (which
opinion shall be addressed to the City and the Trustee) that such investment agreement is legal,
valid, binding and enforceable upon the provider in accordance with its terms and of foreign
counsel (if applicable) in form and substance acceptable, and addressed to, the City,
(E) the investment agreement shall provide that if during its term:
(1) the provider’s rating by either Standard & Poor’s or Moody’s falls
below “AA-” or “Aa3”, respectively, the provider shall, at its option, within 10 days of
receipt of publication of such downgrade, either (i) collateralize the investment
agreement by delivering or transferring in accordance with applicable state and federal
laws (other than by means of entries on the provider’s books) to the City, the Trustee
or a third party acting solely as agent therefor (the “Holder of the Collateral”) collateral
free and clear of any third-party liens or claims the market value of which collateral is
maintained at levels and upon such conditions as would be acceptable to Standard &
Poor’s and Moody’s to maintain an “A” rating in an “A” rated structured financing
(with a market value approach); or (ii) repay the principal of and accrued but unpaid
interest on the investment, and
(2) the provider’s rating by either Standard & Poor’s or Moody’s is
withdrawn or suspended or falls below “A-” or “A3”, respectively, the provider must,
at the direction of the City or the Fiscal Agent, within 10 days of receipt of such
direction, repay the principal of and accrued but unpaid interest on the investment, in
either case with no penalty or premium to the City or Trustee,
(F) the investment agreement shall state and an opinion of counsel shall be
rendered, in the event collateral is required to be pledged by the provider under the terms of
the investment agreement at the time such collateral is delivered, that the Holder of the
Collateral has a perfected first priority security interest in the collateral, any substituted
collateral and all proceeds thereof (in the case of bearer securities, this means the Holder of the
Collateral is in possession,; and
(G) the investment agreement must provide that if during its term
(1) the provider shall default in its payment obligations, the provide r’s
obligations under the investment agreement shall, at the direction of the City or the
Trustee, be accelerated and amounts invested and accrued but unpaid interest thereon
shall be repaid to the City or Trustee, as appropriate, and
(2) the provider shall become insolvent, not pay its debts as they become
due, be declared or petition to be declared bankrupt, etc. (“event of insolvency”), the
provider’s obligations shall automatically be accelerated and amounts invested and
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accrued but unpaid interest thereon shall be repaid to the City or Trustee, as
appropriate; and
(12) The State of California Local Agency Investment Fund; provided that the Trustee may
restrict investments in such fund to the extent necessary to keep moneys available for the purposes of
this Indenture.
“Authorized Representative of the City” means the Mayor of the City, the City Manager, the
Treasurer or any other person or persons designated by the Mayor of the City, the City Manager, or
the Treasurer by a Written Certificate.
“Beneficial Owner” means, with respect to a Bond, the person whose name is recorded as the
beneficial owner thereof or a portion thereof by a Participant on the records of such Participant, or such
person's subrogee.
“Bond Counsel” means an attorney or a firm of attorneys, selected by the City, of nationally
recognized standing in matters pertaining to the tax treatment of interest on bonds issued by states and
their political subdivisions.
“Bond Register” means the books which the Trustee shall keep or cause to be kept pursuant to
Section 212, on which the registration and transfer of the Bonds shall be recorded.
“Bond Year” means the one year period or shorter period ending each year on September 2.
“Bondowner” or “Owner” means the person or persons in whose name or names any Bond is
registered as shown on the Bond Register.
“Bonds” means the City of Lake Elsinore Reassessment District No. 2021 -1 (Canyon Hills)
Limited Obligation Refunding Bonds (Federally Taxable) issued pursuant to the Resolution of Issuance
and this Indenture.
“Business Day” means any day other than (a) a Saturday, Sunday, (b) a day on which they
institutions in the State of California or in any state in which the Office of the Trustee is located are
authorized or required by law (including Executive Order) too close, or (c) a day on which the New
York Stock Exchange is closed.
“City” means the City of Lake Elsinore, California and any successor thereto.
“City Clerk” means the City Clerk of the City and his or her designee.
“City Council” means the City Council of the City of Lake Elsinore.
“Closing Date” means the date of delivery of the Bonds by the City and payment therefor by
the original purchaser thereof.
“Continuing Disclosure Certificate” means that certain Continuing Disclosure Certificate dated
as of May 1, 2021, executed and delivered by the City, together with any amendments thereto.
“Costs of Issuance” means the costs and expenses incurred in connection with the issuance and
sale of the Bonds, including the acceptance and initial annual fees and expenses of the Trustee, legal
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fees and expenses, costs of printing the Bonds and the preliminary and final official statements for the
Bonds, fees of financial consultants and all other related fees and expenses, as set forth in a Wri tten
Certificate of the City.
“Costs of Issuance Fund” means the City of Lake Elsinore Reassessment District No. 2021-1
Costs of Issuance Fund established and held by the Trustee pursuant to Section 401 hereof.
“County” means the County of Riverside.
“Depository” means DTC and its successors as securities depository for the Bonds, including
any such successor appointed pursuant to Section 210 hereof.
“DTC” means The Depository Trust Company, New York, New York, and its successors and
assigns.
“Escrow Agent” means Wilmington Trust, National Association, as escrow agent with respect
to the defeasance of the Prior Bonds under the provisions of the Escrow Agreement.
“Escrow Agreement” means that certain Escrow Agreement dated as of May 1, 2021 by and
between the City and the Escrow Agent relating to Prior Bonds.
“Escrow Fund” means the Escrow Fund established under the Escrow Agreement.
“Federal Securities” means, subject to applicable law, United States Treasury notes, bonds,
bills or certificates of indebtedness, including United States Treasury Obligations, State and Local
Government Series (“SLGS”) or other direct obligations issued by the United States Treasury for which
the faith and credit of the United States are pledged for the payment of principal and in terest; and
obligations issued by banks for cooperatives, federal land banks, federal intermediate credit banks,
federal home loan banks, the Federal Home Loan Bank Board, the Tennessee Valley Authority, or
other federal agencies or United States Government-sponsored enterprises.
“Fiscal Year” means the twelve-month period terminating on June 30 of each year, or any other
annual accounting period hereafter selected and designated by the City as its Fiscal Year in accordance
with applicable law.
“Indenture” means this Indenture, as amended or supplemented pursuant to the terms hereof.
“Independent Financial Consultant” means a financial consultant or firm of such consultants
generally recognized to be well qualified in the financial consulting field, appointe d and paid by the
City and who, or each of whom:
(1) is in fact independent and not under the domination of the City;
(2) does not have any substantial interest, direct or indirect, with the City or with any owner
of real property within the Reassessment District; and
(3) is not connected with the City as a member, officer or employee of the City, but who
may be regularly retained to make annual or other reports to the City.
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“Interest Payment Date” means each March 2 and September 2, commencing September 2,
2021.
“Moody's” means Moody's Investors Service, its successors and assigns.
“1915 Act” means the Improvement Bond Act of 1915, being Division 10 (commencing with
Section 8500) of the California Streets and Highways Code.
“1984 Act” means the Refunding Improvement Act of 1984 for 1915 Improvement Act Bonds,
being Division 11.5 (commencing with Section 9500) of the California Streets and Highways Code.
“Nominee” means the nominee of the Depository, which may be the Depository, as determined
from time to time pursuant to Section 206 hereof.
“Notice of Reassessment” means the Notice of Reassessment recorded in the Office of the
County Recorder of the County of Riverside on ______, 2021, as Document No. _______.
“Office of the Trustee” means the principal corporate trust office of the Trustee in Los Angeles,
California, or such other office as may be specified in writing to the City by the Trustee, except that
with respect to presentation of Bonds for payment or for registration of transfer and exchange such
term shall mean the office or agency of the Trustee at which, at any particular time, its corporate trust
agency business shall be conducted.
“Outstanding Bonds” or “Outstanding” means all Bonds theretofore issued by the City, except:
(1) Bonds theretofore canceled or surrendered for cancellation;
(2) Bonds for the payment or redemption of which moneys shall have been deposited in
trust (whether upon or prior to the maturity or the redemption date of such Bonds), provided that, if
such Bonds are to be redeemed prior to the maturity thereof, notice of such redemption shall have been
given as provided in this Indenture; and
(3) Bonds defeased pursuant to Section 901.
“Participant” means a broker-dealer, bank and other financial institution for which the
Depository holds Bonds or interests therein from time to time as securities depository.
“Participating Underwriter” has the meaning ascribed thereto in the Continuing Disclosure
Certificate.
“Person” means any individual, corporation, firm, association, partnership, limited liability
company, trust, or other legal entity or group of entities, including a governmental entity or any agency
or political subdivision thereof.
“Prior Bonds” means the City of Lake Elsinore Assessment District No. 93-1 Limited
Obligation Refunding Improvement Bonds, 2012 Series A.
“Reassessment” or “Reassessments” means the special reassessments levied in the
Reassessment District in accordance with the 1984 Act and the Resolution of Confirming
Reassessments, together with the Unpaid Asse ssments, and the net proceeds derived from any
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foreclosure proceedings and interest and penalties thereon, but exclusive of any assessments or
reassessments levied to pay Administrative Expenses.
“Reassessment District” means City of Lake Elsinore Reassessment District No. 2021-1
(Canyon Hills).
“Reassessment Fund” means the City of Lake Elsinore Reassessment District No. 2021 -1
Reassessment Fund established and held by the Trustee pursuant to Section 401 hereof.
“Reassessment Installment” means the annual portion of the Reassessment levied to pay the
principal of and interest on the Bonds (which does not include assessments levied by the City to pay
Administrative Expenses).
“Reassessment Report” means the report concerning the Reassessment prepared by NBS, as
approved by the City Council on April 13, 2021, and on file with the City Clerk.
“Record Date” means the sixteenth day of the month preceding an Interest Payment Date,
whether or not such day is a Business Day.
“Redemption Fund” means the City of Lake Elsinore Reassessment District No. 2021-1
Redemption Fund established and held by the Trustee pursuant to Section 401 hereof.
“Representation Letter” means the Blanket Letter of Representations from the City and the
Trustee to the Depository as described in Section 207 hereof.
“Reserve Fund” means the City of Lake Elsinore Reassessment District No. 2021-1 Reserve
Fund established and held by the Trustee pursuant to Section 401 hereof.
“Reserve Requirement” means, as of the date of any calculation, the least of (a) 10% of the
original aggregate principal amount of the Bonds; (b) maximum annual debt service on the Bonds;
(provided that annual debt service due in Bond Year 2021 shall be excluded from such calculation)
and (c) 125% of average annual debt service on the Bonds (provided that annual debt service due in
Bond Year 2021 shall be excluded from such calculation); provided, however, that the Reserve
Requirement shall be adjusted to reflect any amount specified for transfer to the Redemption Fund in
a Written Request from the City as described in Section 406 hereof.
“Resolution of Confirming Reassessments” means Resolution No. _______, adopted by the
City Council of the City on April 13, 2021, confirming and ordering the Reassessments.
“Resolution of Issuance” means Resolution No. ______, adopted by the City Council of the
City on April 13, 2021, authorizing the issuance of the Bonds and approving the terms and provisions
of this Indenture.
“Superintendent of Streets” means the City Manager of the City, or his or her designee.
“Supplemental Indenture” or “Supplement” means any supplemental agreement amending or
supplementing this Indenture.
“Treasurer” means the City Treasurer, or his or her designee.
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“Trustee” means Wilmington Trust, National Association, a national banking association duly
organized and existing under and by virtue of the laws of the United States of America, or any other
bank, national banking association, or trust company which may at any time be substituted in its place
as provided in Sections 702 and 703 and any successor thereto.
“Unpaid Assessments” means those assessments levied for the fiscal year ending June 30, 2021
in accordance with the 1915 Act and the respective resolutions of formation of the Assessment District,
but which were not paid to the City prior to the Closing Date.
“Written Certificate" and "Written Request" of the City mean, respectively, a written certificate
or written request signed in the name of the City by an Authorized Representative of the City. Any
such certificate or request may, but need not, be combined in a single instrument with any other
instrument, opinion or representation; and the two or more so combined shall be read and construed as
a single instrument.
Section 102. Interpretation. Unless the context otherwise indicates, words expressed in the
singular shall include the plural, and vice versa and the use of the neuter, masculine, or feminine gender
is for convenience only and shall be deemed to mean and include the neuter, masculine or feminine
gender, as appropriate. Headings of articles and sections herein and the table of contents hereof are
solely for convenience of reference, do not constitute a part hereof and shall not affect the meaning,
construction or effect hereof.
Section 103. Equality of Bonds; Pledge of Reassessments; No Obligation to Cure
Deficiency. Pursuant to the Act and this Indenture, the Bonds are equally secured by a first pledge of
and shall be equally payable from the Reassessments without priority for number, issue date, date of
sale, date of execution or date of delivery, and the payment of the interest on and principal of the Bonds
and any premiums upon the redemption thereof are equally secured by a first pledge of and shall be
exclusively paid from the Reassessments and moneys on deposit in t he Reassessment Fund,
Redemption Fund and the Reserve Fund which are hereby set aside for and irrevocably pledged solely
for the payment of the Bonds. The Reassessments, the amounts in the foregoing funds, and any interest
earned on such funds shall constitute a trust fund held by the Trustee for the benefit of the Owners of
the Bonds to be applied to the payment of the interest on, premium, if any, and principal of the Bonds
and so long as any of the Bonds remain Outstanding and shall not be used for any other purpose, except
as permitted by the Act, this Indenture or any Supplemental Indenture.
Nothing in this Indenture or any Supplemental Indenture shall preclude the redemption prior
to maturity of any Bonds subject to call and redemption and payment of said Bonds from proceeds of
refunding bonds.
ARTICLE II
AUTHORIZATION AND ISSUANCE OF BONDS
Section 201. Authorization and Designation of Bonds. The City has reviewed all
proceedings heretofore taken relative to the authorization of the Bonds and has found, as a result of
such review, and hereby finds and determines, that all acts, conditions and things required by law to
exist, happen and be performed precedent to and in the issuance of the Bonds do exist, have happened
and have been performed in due time, form and manner as required by the Act, and that the City is
now authorized, pursuant to each and every requirement of the Act and hereof, to issue the Bonds upon
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the security of the Reassessments in the aggregate principal amount and in the form and manner
provided herein, which Bonds, upon their issuance, shall be entitled to the benefit, protection and
security of the provisions hereof.
Section 202. Type and Nature of Bonds; Limited Liability. Notwithstanding anything
contained herein, in the Bonds, in the Act, any other provision of l aw, or in any of the resolutions
adopted in connection with the proceedings for the formation of the Reassessment District or the
proceedings for the Reassessment to the contrary, all Bonds authorized pursuant to this Indenture shall
be a special obligation of the City; and the City shall not under any circumstances (including, without
limitation, after any installment of principal or interest of any Reassessment levied on any lot or parcel
in the Reassessment District becomes delinquent or after the City a cquires title to any such lot or parcel
whether through foreclosure or otherwise) be obligated to pay principal, premium, if any, or interest
on the Bonds from any source whatsoever other than the Redemption Fund (including any transfers
thereto from the Reassessment Fund and the Reserve Fund). Neither the City, the City Council, the
officers or employees of the City, any person or entity acting for or on behalf of the City in connection
with the issuance of the Bonds or in connection with the formation or operation of the Reassessment
District, nor any persons executing the Bonds, shall be liable personally on the Bonds or be subject to
any personal liability for the Bonds or any personal liability or accountability whatsoever by reason of
or in connection with the issuance of the Bonds or by reason of any act or acts or the failure or omission
to take any act or acts (including, without limitation, a negligent act or omission) in connection with
or related to the formation or operation of the Reassessment District.
Section 203. Authorization and Purpose of Bonds. The Bonds shall be designated “City
of Lake Elsinore Reassessment District No. 2021 -1 (Canyon Hills) Limited Obligation Refunding
Bonds (Federally Taxable)” and shall be issued by the City under and pursuant to the Act and under
and pursuant hereto in the aggregate principal amount equal to the aggregate amount of the unpaid
principal portion of the Reassessments (as of the Closing Date, $_______). The designation of each
Bond shall include, in addition to the ir name, such further appropriate particular designation added to
or incorporated in the title for the Bonds as the City may determine or as shall be required by the Act;
and each Bond shall bear upon its face the designation so determined. The Bonds may contain or have
endorsed thereon such other descriptive provisions, specifications and words not inconsistent with the
provisions hereof as may be desirable or necessary to comply with custom or the rules of any securities
exchange or commission or brokerage board or otherwise as may be determined by the City prior to
the delivery thereof.
The primary purpose for which the Bonds are to be issued is to provide funds to refinance the
cost of the improvements heretofore ordered by the City Council in connectio n with the formation of
the Reassessment District.
Section 204. Terms of Bonds.
(a) The Bonds and the Certificate of Authentication with respect thereto shall be
substantially in the form attached hereto as Exhibit A, and forms are hereby approved and adopted as
the form of the Bonds and of the Certificate of Authentication. The Bonds may include such
appropriate or necessary insertions, omissions and variations as are permitted or required hereby. Only
such of the Bonds as shall bear thereon the Certificate of Authentica tion in substantially the form
approved above, manually executed by the Trustee, shall be valid or obligatory for any purpose or
entitled to the benefits of this Indenture; and such certificate of or on behalf of the Trustee shall be
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conclusive evidence that the Bond so authenticated has been duly executed, authenticated and delivered
hereunder and is entitled to the benefits of this Indenture.
(b) The interest on and principal of and redemption premiums, if any, on the Bonds shall
be payable in lawful money of the United States of America at the Office of the Trustee. Interest on
the Bonds shall be calculated on the basis of a 360-day year consisting of twelve 30-day months.
(c) The Bonds shall be issued in fully registered form without coupons in denominations
of $5,000 or any interval old thereof. The Bonds shall be dated as of the Closing Date, show mature
on September 2 of each year, and shall bear interest at the rates per annum as follows:
Maturity Date
(September 2)
Principal
Amount
Interest
Rate
_____________________
* Term Bond
(d) Interest shall be payable on each Bond from the date established in accordance with
paragraph (e) below on each Interest Payment Date thereafter until the principal sum of that Bond has
been paid; provided, however, that if at the maturity date of any Bond (or if the same is redeemable
and shall be duly called for redemption, then at the date fixed for redemption) funds are available for
the payment or redemption thereof in full in accordance with the terms of this Indenture, such Bonds
shall then cease to bear interest.
(e) Each Bond shall bear interest from the Interest Payment Date next preceding its date
of authentication and registration, unless (i) its date of authentication is after a Record Date and on or
before the immediately succeeding Interest Payment Date, in which event the Bond shall bear interest
from such Interest Payment Date or (ii) its date of authentication is before the close of business on the
first Record Date, in which event the Bond shall bear interest from its dated date; provided, that if at
the time of authentication of any Bond interest is then in default on the Outstanding Bonds, such Bonds
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shall bear interest from the Interest Payment Date to which interest has previously been paid or made
available for payment on the Outstanding Bonds.
(f) Payment of interest on the Bonds due on or before the maturity or prior redemption
thereof shall be made only to the person whose name appears in the Bond Register as the registered
owner thereof at the close of business on the Record Date, such interest to be paid by check mailed by
first class mail on the Interest Payment Date to such registered owner at his address as it appears on
such books or at such other address as he may have filed with the Trustee for that purpose; provided,
however, that, in the case of a registered owner of $1,000,000 or more in aggregate principal amount
of Bonds, upon written request of such registered owner to the Trustee at least 15 days prior to an
Interest Payment Date, such payment may be made by wire transfer to an a ccount within the United
States designated by such owner. Payment of the principal of and redemption premiums, if any, on
the Bonds shall be made by check only to the person whose name appears in the Bond Register as the
registered owner thereof, such principal and redemption premiums, if any, to be paid only on the
surrender of the Bonds at the corporate trust office of the Trustee at maturity or on redemption prior to
maturity; provided that sinking fund payments shall be paid without presentment or surr ender of the
Bonds.
(g) The City and the Trustee may treat and consider the person in whose name each Bond
is registered in the Bond Register as the holder and absolute owner of such Bond for the purpose of
payment of principal, premium, if any, and interest on such Bond, for the purpose of giving notices of
redemption and other matters with respect to such Bond, for the purpose of registering transfers with
respect to such Bond, and for all other purposes whatsoever. The Trustee shall pay all principal of,
premium, if any, and interest on the Bonds only to or upon the order of the respective Owners or their
respective attorneys duly authorized in writing, and all such payments shall be valid and effective to
fully satisfy and discharge the City’s obligations w ith respect to payment of principal of, premium, if
any, and interest on the Bonds to the extent of the sum or sums so paid. No person other than an Owner
shall receive a certificated Bond evidencing the obligation of the City to make payments of principa l,
premium, if any, and interest pursuant to this Indenture.
(h) From and after the issuance of the Bonds, the findings and determinations of the City
Council shall be conclusive evidence of the existence of the facts so found and determined in any action
or proceeding in any court in which the validity of such Bonds is at issue; and no bona fide purchaser
of any of such Bonds shall be required to independently establish the existence of any fact or the
performance of any condition or the taking of any proceeding required prior to such issuance or the
application of the purchase price paid for such Bonds. The recital contained in the Bonds that the
Bonds are issued under and pursuant to the Act and under and pursuant hereto shall be conclusive
evidence of their validity and of the regularity of their issuance and all Bonds shall be incontestable
from and after their issuance. Bonds shall be deemed to be issued, within the meaning hereof,
whenever the definitive Bonds (or any temporary Bonds exchangeable therefo r) have been delivered
to the purchaser thereof and the purchase price thereof received.
Section 205. Execution and Authentication. The Bonds shall be signed on behalf of the
City by the manual or facsimile signature of the Treasurer attested by the manual or facsimil e signature
of the City Clerk in their respective capacities as officers of the City, and the seal of the City (or a
facsimile thereof) may be impressed, imprinted, engraved or otherwise reproduced thereon, and
attested by the signature of the City Clerk. In case any one or more of the officers who shall have
signed or sealed any of the Bonds shall cease to be such officer before the Bonds so signed and sealed
have been authenticated and delivered by the Trustee (including new Bonds delivered pursuant to t he
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provisions hereof with reference to the transfer and exchange of Bonds or to lost, stolen, destroyed or
mutilated Bonds), such Bonds shall nevertheless be valid and may be issued as if the person who signed
or sealed such Bonds had not ceased to hold such office.
Section 206. Book-Entry System. The Bonds shall be initially delivered in the form of a
separate single fully registered Bond (which may be typewritten) for each of the maturities of the
Bonds. Upon initial delivery, the ownership of each such Bond shall b e registered in the registration
books kept by the Trustee in the name of the Nominee as nominee of the Depository. Except as
provided in Section 210 hereof, all of the Outstanding Bonds shall be registered in the Bond Register
the name of the Nominee.
With respect to Bonds registered in the Bond Register in the name of the Nominee, neither the
City nor the Trustee shall have no responsibility or obligation to any Participant or to any Person on
behalf of whom such a Participant holds an interest in the Bonds. Without limiting the immediately
preceding sentence, the City and the Trustee shall have no responsibility or obligation with respect to
(i) the accuracy of the records of the Depository, the Nominee, or any Participant with respect to any
ownership interest in the Bonds, (ii) the delivery to any Participant or any other Person, other than an
Owner as shown in the Bond Register, of any notice with respect to the Bonds, including any notice of
redemption, (iii) the selection by the Depository and its Participants of the beneficial interests in the
Bonds to be redeemed in the event the Bonds are redeemed in part, or (iv) the payment to any
Participant or any other Person, other than an Owner as shown in the Bond Register, of any amount
with respect to principal of, premium, if any, or interest due with respect to the Bonds. The City and
the Trustee may treat and consider the Person in whose name each Bond is registered in the registration
books kept by the Trustee as the holder and absolute owner of such Bond for the purpose of payment
of the principal of, premium, if any, and interest on such Bond, for the purpose of giving notices of
redemption and other matters with respect to such Bond, for the purpose of registering transfers with
respect to such Bond, and for all other purposes whatsoever. The Trustee shall pay all principal of,
premium, if any, and interest due on the Bonds only to or upon the order of the respective Owner, as
shown in the registration books kept by the Trustee, or their respective attorneys duly authorized in
writing, and all such payments shall be valid and effective to satisfy and discharge fully the City’s
obligations with respect to payment of the principal, premium, if any, and interest due on the Bonds to
the extent of the sum or sums so paid. No Person other than an Owner, as shown in the registration
books kept by the Trustee, shall receive a Bond evidencing the obligation of the City to make payments
of principal, premium, if any, and interest pursuant to this Indenture. Upon delivery by the Depository
to the Trustee and the City of written notice to the effect that the Depository has determined to
substitute a new nominee in place of the Nominee, and subject to the provisions herein with respect to
Record Dates, the word Nominee in this Indenture shall refer to such new nominee of the Depository.
Section 207. Representation Letter. In order to qualify the Bonds which the City elects to
register in the name of the Nominee for the Depository’s book -entry system, an authorized
representative of the Trustee is hereby authorized to execute from time to time and deliver to such
Depository the Representation Letter. The execution and delivery of the Representation Letter shall
not in any way limit the provisions of Section 210 or in any othe r way impose upon the City or the
Trustee any obligation whatsoever with respect to persons having interests in the Bonds other than the
Owners, as shown on the Bond Register. The Trustee agrees to take all action necessary to
continuously comply with all representations made by it in the Representation Letter. In addition to
the execution and delivery of the Representation Letter, the Authorized Representatives of the City are
hereby authorized to take any other actions, not inconsistent with this Indent ure, to qualify the Bonds
for the Depository’s book-entry program.
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Section 208. Payments to the Nominee. Notwithstanding any other provisions of this
Indenture to the contrary, so long as any Bond is registered in the name of the Nominee, all payments
with respect to principal, premium, if any, and interest due with respect to such Bond and all notices
with respect to such Bond shall be made and given, respectively, as provided in the Representation
Letter or as otherwise instructed by the Depository.
Section 209. Initial Depository and Nominee. The initial Depository hereunder shall be
The Depository Trust Company, New York, New York. The initial Nominee shall be Cede & Co., as
Nominee of The Depository Trust Company, New York, New York.
Section 210. Transfers Outside of Book-Entry System. In the event (i) the Depository
determines not to continue to act as securities depository for the Bonds, or (ii) the City determines that
the Depository shall no longer so act, then unless the City identifies another qualified securities
depository to replace the Depository the City will discontinue the book-entry system. If the City fails
to identify another qualified securities depository to replace the Depository then the Bonds so
designated shall no longer be restricted to being registered in the Bond Register kept by the Trustee in
the name of the Nominee, but shall be registered in whatever name or names Persons transferring or
exchanging Bonds shall designate, in accordance with the provisions of Section 210 hereof.
Section 211. Registration, Exchange or Transfer. Under the circumstances described in
Section 210 but subject to the limitations set forth in the next paragraph, the registration of any Bond
may, in accordance with its terms, be transferred upon the Bond Register by the person in whose name
it is registered, in person or by his or her duly authorized attorney, upon surrender of such Bond for
cancellation at the Office of the Trustee accompanied by delivery of a written instrument of transfer in
a form acceptable to the Trustee and duly executed by the Bondowner or his or her duly authorized
attorney.
Bonds may be exchanged at the Office of the Trustee for a like aggregate principal amount of
Bonds. The Trustee will not charge the Owner for any new Bond issued upon any exchange or transfer,
but shall require the Owner requesting such exchange or transfer to pay any tax or other governmental
charge required to be paid with respect to such exchange or transfer. The cost of printing any Bonds
and any services rendered or any expenses incurred by the Trustee in connection with any exchange or
transfer shall be paid by the City as Administrative Expenses. Whenever any Bond or Bonds shall be
surrendered for registration of transfer or exchange, the City shall execute, and the Trustee shall
authenticate and deliver, a new Bond for a like aggregate principal amount; provided, that the Trustee
shall not be required to register transfers or make exchanges of Bonds (a) 15 days prior to the date
established by the Trustee for selection of Bonds for redemption, or (b ) with respect to a Bond after
such Bond has been selected for redemption.
Section 212. Bond Register. The Trustee will keep or cause to be kept, at its corporate trust
office, sufficient books for the registration and transfer of the Bonds which shall at all times du ring
regular business hours upon reasonable prior notice be open to inspection by the City; and, upon
presentation for such purpose, the Trustee shall, under such reasonable regulations as it may prescribe,
register or transfer or cause to be transferred on said Bond Register, Bonds as herein provided.
The City and the Trustee may treat the Owner of any Bond whose name appears on the Bond
Register as the absolute Owner of such Bond for any and all purposes, and the City and the Trustee
shall not be affected by any notice to the contrary. The City and the Trustee may rely on the address
of the Owner as it appears in the Bond Register for any and all purposes. It shall be the duty of the
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Bondowner to give written notice to the Trustee of any change in the Owner’s address so that the Bond
Register may be revised accordingly.
Section 213. Mutilated, Lost, Destroyed or Stolen Bonds. If a Bond shall become
mutilated, the City shall execute, and the Trustee shall authenticate and deliver, a new Bond of like
principal amount in exchange and substitution for the Bond so mutilated, but only upon surrender to
the Trustee of the Bond so mutilated. If any Bond shall be lost, destroyed or stolen, evidence of such
loss, destruction or theft may be submitted to the Trustee; and, if su ch evidence is satisfactory to the
Trustee and, if indemnity satisfactory to the Trustee shall be given, the City, at the expense of the
Bondowner, shall execute and the Trustee shall authenticate and deliver, a new Bond dated as such
Trustee shall determine in lieu of and in substitution for the Bond so lost, destroyed or stolen. Any
Bond issued in lieu of any Bond alleged to be lost, destroyed or stolen shall be equally and
proportionately entitled to the benefits hereof with all other Bonds issued hereunder. The Trustee shall
not treat both the original Bond and any replacement Bond as being Outstanding Bonds for the purpose
of determining the principal amount of Bonds which may be executed, authenticated and delivered or
for the purpose of determining any percentage of Bonds Outstanding hereunder, but both the original
and replacement bond shall be treated as one and the same. Notwithstanding any other provision of
this Section, in lieu of delivering a new Bond to replace a Bond which has been mutilate d, lost,
destroyed or stolen, and which has matured or is about to mature, the Trustee may make payment with
respect to such Bond upon receipt of indemnity satisfactory to it and the City.
Section 214. Refunding of Bonds. The Bonds may be refunded by the City under Divisions
11 or 11.5 of the 1915 Act upon the conditions set forth in proceedings therefor, all as determined by
the City Council.
ARTICLE III
REDEMPTION OF BONDS
Section 301. Provisions for the Redemption of Bonds.
(a) Mandatory Redemption from Reassessment Prepayments. The Bonds shall be subject
to mandatory redemption, in whole or in part as selected by the Treasurer pursuant to Section 8768 of
the California Streets and Highways Code, on any Interest Payment Date, from and to the extent of
any prepayment of Reassessments, at the following respective redemption prices (expressed as
percentages of the principal amount of the Bonds to be redeemed), plus accrued interest thereon to the
date of redemption:
Redemption Dates Redemption Prices
%
(b) Optional Redemption of Bonds from Other Funds, Excluding Reassessment
Prepayments. The Bonds are subject to redemption prior to their stated maturity dates on any Interest
Payment Date on or after September 2, 20__, as selected by the City, from any source of fund s other
than prepayment of Reassessments, at a redemption price equal to the principal amount of the Bonds
to be redeemed, plus accrued interest thereon to the date of redemption, without premium.
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(c) Mandatory Sinking Fund Redemption of Bonds. The Bonds maturing on September 2,
20__ shall be subject to mandatory sinking fund redemption prior to maturity, in part, on September 2,
20__, and on each September 2 thereafter, from sinking fund payments, at a redemption price equal to
the principal amount of Bonds to be redeemed, together with accrued interest to the date of redemption,
without premium, as follows:
20__ Term Bond
Redemption Date
(September 2)
Redemption
Amount
$
_ (maturity)
In the event of any prior redemption of the Bonds maturing on September 2, 20__ pursuant to
Sections 301 (a) or (b), the foregoing sinking fund payments shall be reduced as proportionately as
possible in increments of $5,000 and the City shall provide the Trustee with a revised sinking fund
schedule.
Section 302. Notice of Redemption. The City shall be required to give the Trustee written
notice of its intention to redeem Bonds under Section 302(a) and (b) at least forty-five (45) days prior
to the date fixed for such redemption, or such lesser number of days as permitted by the Trustee. When
Bonds are to be called for redemption under Section 301, the Trustee shall give notice, on behalf of
the City, of the redemption of such Bonds. Such notice of redemption shall (a) state the date fixed for
redemption and for surrender of the Bonds to be redeemed; (b) state the redemption price; (c) state the
place or places where the Bonds are to be surrendered for redemption; and (d) in the case of Bonds to
be redeemed only in part, state the portion of such Bond which is to be redeemed. Suc h notice shall
further state that on the date fixed for redemption, there shall become due and payable on each Bond
or portion thereof called for redemption, the principal thereof, together with any premium, and interest
accrued to the redemption date, and that from and after such date, interest thereon shall cease to accrue
and be payable. At least thirty (30) days but no more than sixty (60) days prior to the redemption date,
the Trustee shall mail a copy of such notice, by registered or certified mail, postage prepaid, to the
respective Owners of Bonds selected for redemption at their addresses appearing on the Bond Register.
The actual receipt by the Owner of any Bond of notice of such redemption shall not be a condition
precedent thereto, and failure to receive such notice shall not affect the validity of the proceedings for
the redemption of such Bonds, or the cessation of interest on the redemption date. A certificate by the
Trustee that notice of such redemption has been given as herein provided shall be conclusive as against
all parties.
A notice of redemption for a redemption of Bonds pursuant to Section 301(b) above may be
conditioned upon receipt by the City of sufficient funds to effect the redemption. If sufficient funds
are not on deposit with the Trustee at least one day prior to the redemption date, the redemption shall
not occur and the Bonds shall remain Outstanding hereunder. If any redemption is cancelled due to a
lack of sufficient funds, the Trustee shall mail a notice to the Owners stating that such redemption was
cancelled and did not occur.
Notices of redemption of Bonds registered in the name of DTC’s nominee will be sent by the
Trustee only to DTC, or its nominee, and not to the owners of beneficial interests in the Bonds. Notic e
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of redemption will be provided to such beneficial owners only in accordance with the procedures
governing the DTC book-entry system.
Section 303. Partial Redemption of Bonds. Upon surrender of any Bond to be redeemed
in part only, the City shall execute and the Trustee shall authenticate and deliver to the Owner, at the
expense of the City, a new Bond or Bonds of authorized denominations equal in aggregate principal
amount to the unredeemed portion of the Bonds.
Section 304. Selection of Bonds for Redemption. Bonds of a maturity shall be selected for
mandatory sinking fund redemption by lot. If less than all of the Outstanding Bonds are to be redeemed
other than pursuant to mandatory sinking fund redemption, the City shall designate the principal
amount of Bonds of each maturity to be redeemed as provided for in Section 8768 of the 1915 Act
such that the ratio of Outstanding Bonds to issued Bonds shall be approximately the same in each
maturity of the Bonds insofar as possible, and the Trustee shall select the particular Bonds to be
redeemed from each maturity in authorized denominations and in said designated amount by lot in
such manner as the Trustee may choose. The City shall provide written notice to the Trustee at least
forty-five days prior to a redemption date for the Bonds (other than mandatory sinking fund
redemption). The Trustee shall promptly notify the City in writing of the Bonds, or portions thereof,
selected for redemption.
In lieu, or partially in lieu, of such call and redemption, moneys deposited in the Redem ption
Fund may be used to purchase Outstanding Bonds in the manner hereinafter provided. Purchases of
Outstanding Bonds may be made by the City prior to the selection of Bonds for redemption by the
Trustee, at public or private sale as and when and at such prices as the City may in its discretion
determine, but only at prices (including brokerage or other expenses) of not more than par, plus the
premium, if any, which would be payable with respect to such Bonds upon the redemption thereof,
plus accrued interest, and any accrued interest payable upon the purchase of Bonds may be paid from
the amount in the Interest Account of the Redemption Fund for payment of interest on the next
following Interest Payment Date. The Trustee shall disburse moneys in the Pre payment Account for
such purpose upon written direction of the City.
Section 305. Effect of Notice and Availability of Redemption Money. Notice of
redemption having been duly given, as provided in Section 302, and the amount necessary for the
redemption having been made available for that purpose and being available therefor on the date fixed
for such redemption:
(a) the Bonds, or portions thereof, designated for redemption shall, on the date fixed for
redemption, become due and payable at the redemption price thereof as provided in this Indenture,
anything in this Indenture or in the Bonds to the contrary notwithstanding;
(b) upon presentation and surrender thereof at the corporate trust office of the Trustee, the
redemption price of such Bonds shall be paid to the Owner thereof;
(c) after the redemption date the Bonds or portions thereof so designated for redemption
shall be deemed to be no longer Outstanding and such Bonds or portions thereof shall cease to bear
further interest; and
(d) after the date fixed for redemption no Owner of any of the Bonds or portions thereof
so designated for redemption shall be entitled to any of the benefits of this Indenture, or to any other
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rights, except with respect to payment of the redemption price and interest accrued to the redemption
date from the amounts so made available.
ARTICLE IV
CREATION OF FUNDS AND ACCOUNTS;
APPLICATION OF PROCEEDS AND ASSESSMENTS
Section 401. Funds and Accounts. There are hereby created and established the following
funds and accounts, which funds and accounts the City agrees and covenants to maintain with the
Trustee so long as any Bonds are Outstanding hereunder:
(a) the City of Lake Elsinore Reassessment District No. 2021 -1 Costs of Issuance Fund
(the “Costs of Issuance Fund”);
(b) the City of Lake Elsinore Reassessment District No. 2021-1 Reassessment Fund (the
“Reassessment Fund”);
(c) the City of Lake Elsinore Reassessment District No. 2021-1 Redemption Fund (the
“Redemption Fund”), in which there shall be established and created a Principal Account, an Interest
Account and a Prepayment Account; and
(d) the City of Lake Elsinore Reassessment District No. 2021-1 Reserve Fund (the
“Reserve Fund”).
The City covenants and agrees to establish with the Treasurer the City of Lake Elsinore
Reassessment District No. 2021-1 Administrative Expense Fund (the “Administrative Expense Fund”).
Except for the Administrative Expense Fund, all moneys in the funds and accounts established
hereunder shall be held by the Trustee for the benefit of the Bondowners, shall be accounted for
separately and apart from all other accounts, funds, money or other resources of the City held by the
Trustee and shall be allocated, applied and disbursed solely to the uses and purposes hereinafter set
forth in this Article.
The Trustee may establish such additional funds, accounts or su baccounts of the funds or
accounts listed above as it deems necessary or prudent to further its duties pursuant to this Indenture
or any Supplemental Indenture and shall establish any additional funds, accounts or subaccounts which
the City directs it to establish.
Section 402. Application of Proceeds of the Sale of Bonds. Proceeds from the sale of the
Bonds shall be used as follows:
(i) $________, an amount equal to the Reserve Requirement shall be deposited by
the Trustee into the Reserve Fund;
(ii) $_________ shall be deposited by the Trustee in the Costs of Issuance Fund;
and
(iii) $________ shall be transferred by the Trustee to the Escrow Agent for deposit,
along with funds held by the trustee for the Prior Bonds, into the Escrow Fund for the Prior Bonds.
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Section 403. Costs of Issuance Fund. The Trustee shall deposit into the Costs of Issuance
Fund the amounts specified in Section 402. The Trustee shall pay the costs of issuing the Bonds from
the Costs of Issuance Fund as set forth in Written Request of the City from time to time. At the Written
Direction of the City or 90 days after the Closing Date, the Trustee shall transfer any remaining balance
in the Costs of Issuance Fund to the Redemption Fund and the Trustee shall close the Costs of Issuance
Fund.
Section 404. Reassessment Fund. Upon receipt of Reassessment Installments, the City
shall transfer the Reassessment Installments to the Trustee for deposit to the Reassessment Fund. On
or prior to the first day of March and September of each year commencing September 1, 2021, the
Trustee is to then transfer moneys on deposit in the Reassessment Fund in the amounts set forth in the
following clauses, in the following order of priority, to:
(a) the Interest Account of the Redemption Fund, an amount sufficient to make the Interest
Payment on the next succeeding Interest Payment Date for the Bonds;
(b) the Principal Account of the Redemption Fund, the amount needed to make the
payment of principal due on the following September 2 on the Outstanding Bonds, including any
mandatory sinking fund payments; and
(c) the Reserve Fund, the amount needed to restore the Reserve Fund to the Reserve
Requirement.
Any moneys remaining in the Reassessment Fund after the deposits described above shall be
transferred by the Trustee to the Prepayment Account of the Redemption Fund. The City shall apply
such amounts as a credit against each of the unpaid Reassessments in amounts equal to each parcel’s
share or portion thereof, of the total amount of Reassessment.
Upon provision for payment or redemption of all Bonds, and after payment of any amounts
due to the Trustee, all moneys remaining in the Reassessment Fund shall be paid to the City.
Section 405. Redemption Fund. The principal of and interest on the Bonds until maturity
shall be paid by the Trustee from the Redemption Fund. At the maturity of the Bonds, after all principal
and interest then due on any Outstanding Bonds has been paid or provided for, moneys in the
Redemption Fund shall be paid to the City.
(a) On or prior to the first day of March or September of each year, commencing
September 1, 2021, the Trustee shall transfer to the Interest Account of the Redemption Fund from the
Reassessment Fund an amount such that the balance in the Interest Account one day prior to each
Interest Payment Date shall be equal to the installment of interest due on the Bonds on said Interest
Payment Date. Moneys in the Interest Account shall be used for the payment of interest on the Bonds
as the same becomes due.
(b) On or prior to the first day of September of each year, commencing September 1, 2021,
the Trustee shall transfer to the Principal Account of the Redemption Fund from the Reassessment
Fund an amount such that the balance in the Principal Account one day prior to each September 2 shall
be equal to the installment of principal (including mandatory sinking fund payments) due on the Bonds
on said September 2. Moneys in the Principal Account shall be used to pay the principal (including
mandatory sinking fund payments) of the Bonds as the same become due.
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(c) Any amounts remaining in the Redemption Fund, other than in the Prepayment
Account, on September 15 of each year, after all principal (including mandatory sinking fund
payments) and interest payments due on the prior September 2 have been paid, shall be transferred to
the Reassessment Fund.
(d) Moneys set aside in the Prepayment Account of the Redemption Fund shall be used
solely for the purpose of redeeming Bonds and shall be applied on or after the redemption date to the
payment of principal of and premium, if any, on the Bonds to be redeemed upon presentation a nd
surrender of such Bonds.
Upon receiving any prepayment of a Reassessment, the City shall transfer such prepayment to
the Trustee for deposit in the Prepayment Account. The amount so deposited, along with the moneys
transferred to the Prepayment Account from the Reserve Fund pursuant to Section 406, shall be used
to redeem Bonds pursuant to Section 301(a) on the next Interest Payment Date for which proper notice
of redemption of Bonds can be given by the Trustee.
Money received by the Trustee from the City from funds other than the prepayment of
Reassessments shall be deposited in the Prepayment Account and used to redeem Bonds as provided
in Section 301(b).
If, after all of the Bonds have been redeemed and canceled or paid and canceled, there are
moneys remaining in any account of the Redemption Fund, said moneys shall be transferred to the
Reassessment Fund.
Section 406. Reserve Fund. The Trustee shall initially deposit into the Reserve Fund the
amount specified in Section 402. Thereafter, the Trustee shall transfer sufficient funds from the
Reassessment Fund as provided in Section 404.
Moneys in the Reserve Fund shall be used solely for the purpose of paying the principal
(including mandatory sinking fund payments) of and interest on the Bonds when due in the event that
the moneys in the Redemption Fund are insufficient therefor. The Trustee shall withdraw moneys as
necessary from the Reserve Fund for deposit in the Redemption Fund on or before the first day of
March and September of each year.
In the event a Reassessment is prepaid in whole or in part, the Reassessment being prepaid
shall be reduced by the amount transferred from the Reserve Fund to the Prepayment Account of the
Redemption Fund pursuant to this paragraph. The amount transferred shall be that portion of the
balance then in the Reserve Fund equal to the proportion that the principal amount of the Reassessment
prepaid bears to the total of all principal amounts of Reassessments remaining unpaid as of such date.
The City shall notify, or shall cause the Trustee to be notified, of the amount to be transferred pursuant
to the provisions of this paragraph. Notwithstanding any provision of this Indenture, the amount to be
transferred from the Reserve Fund may be utilized for redemption of the Bonds p ursuant to Section
301(a) provided that in no event will moneys be transferred to accomplish such redemption in an
amount that causes the Reserve Fund to drop below the Reserve Requirement as determined
immediately subsequent to such redemption.
In the event that moneys comprising the Reserve Fund and the moneys in the Redemption Fund
and the Reassessment Fund are sufficient to retire all of the Outstanding Bonds plus accrued interest
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thereon, such moneys in the Reserve Fund and the Reassessment Fund shall at the Written Direction
of City be transferred to the Redemption Fund for the payment of the Bonds.
Notwithstanding any provisions herein to the contrary, moneys in the Reserve Fund in excess
of the Reserve Requirement shall be withdrawn from the Reserve Fund by the Trustee on each March 1
and September 1 and shall be transferred to the Reassessment Fund and shall be used as provided in
Section 404.
Section 407. Investments. Moneys held in any of the funds and accounts under this
Indenture shall be invested at the Written Direction of the City only in Authorized Investments which
shall be deemed at all times to be a part of such funds and accounts. The Trustee shall provide monthly
statements or reports of the principal balances and investment earnings thereon in each fund and
account maintained by the Trustee hereunder.
Authorized Investments shall be purchased at such prices as may be specified or described in
a Written Direction of the City delivered to the Trustee. The Trustee may conclusively reply upon the
written instructions of the Authorized Representative as to both the suitability and legality of directed
investments. Directions as to the purchase of all Authorized Investments shall be subject to the
limitations hereinafter in this Section set forth and suc h additional limitations or requirements
consistent with the foregoing as may be established by the Treasurer.
Moneys in all funds and accounts except for the Reserve Fund shall be invested in Authorized
Investments maturing, or with respect to which payme nts of principal and interest are scheduled or
otherwise payable, not later than the date on which the Treasurer has estimated that such moneys will
be required by the Trustee for the purposes specified in this Indenture. Moneys in the Reserve Fund
shall be invested in Authorized Investments, not less than 50% of which must mature within one year
of the date of purchase and all of which must mature within two years of the date of purchase; however,
if an Authorized Investment may be redeemed or sold at par on the Business Day prior to each Interest
Payment Date, all or a portion of the amount of the Reserve Fund may be invested therein. Authorized
Investments purchased under a repurchase agreement may be deemed to mature on the date or dates
on which the Trustee may deliver such Authorized Investments for repurchase under such agreement.
All interest, profits and other income received from the investment of moneys in any fund or
account established pursuant to this Indenture shall be retained therein, except as transfers from such
funds or accounts are authorized in this Indenture. For investment purposes only, the Trustee may
commingle the funds and accounts established hereunder, and administered by the Trustee, but shall
account for each separately.
Notwithstanding anything to the contrary contained in this Section, an amount of interest
received with respect to any Authorized Investment equal to the amount of accrued interest, if any,
paid as part of the purchase price of such Authorized Investment shall be credited to the fund or account
for the credit of which such Authorized Investment was acquired.
For the purpose of determining the amount in any fund or account other than the Reserve Fund,
all Authorized Investments credited to such fund or account shall be valued at the lower of the cost or
the market value thereof, exclusive of accrued interest. Amounts in the Reserve Fund shall be valued
at their market value at least semi-annually on or before February 15 and August 15 (or more frequently
as may be requested by the Treasurer, but in no event more often than monthly). In making any such
valuation, the Trustee may utilize nationally recognized securities valuation or pricing services
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available to it through its accounting system. The Trustee may r ely on such valuations and shall not
be responsible for the accuracy thereof.
The Trustee, or any of its affiliates, may act as principal or agent in the making or disposing of
any investment or as a sponsor, depository, manager for or advisor to any issue r of Authorized
Investments. The Trustee shall sell, or present for redemption, any Authorized Investment so
purchased whenever it shall be necessary to provide moneys to meet any required payment, transfer,
withdrawal or disbursement from the fund or account to which such Authorized Investment is credited,
and the Trustee shall not be liable or responsible for any loss resulting from such investment, or any
other investment made at the direction of the City or otherwise made in accordance with this Indent ure.
In the absence of a Written Direction of the City received by Trustee at least two Business
Days prior to the maturity of an Authorized Investment, the Trustee shall invest solely in Authorized
Investments set forth in subsection (7) of the definition thereof, provided, however, that any such
investment shall be made by the Trustee only if, prior to the date on which such investment is to be
made, the Trustee shall have received a Written Direction of the City specifying a specific money
market fund and, if no such Written Direction of the City is so received, the Trustee shall hold such
moneys uninvested.
The Trustee shall be entitled to rely conclusively upon the Written Direction of the City
directing investments in Authorized Investments as to the fact that each such investment is permitted
by the laws of the State of California and is an Authorized Investment as required by this Indenture,
and the Trustee shall not be required to make further investigation with respect thereto. With respect
to any restrictions set forth in the list of Authorized Investments which embody legal conclusions (e.g.,
the existence, validity and perfection of security interests in collateral), the Trustee shall be entitled to
rely conclusively on an opinion of counsel or upon a representation of the provider of such Authorized
Investment obtained at the City’s expense.
Except as specifically provided in this Indenture, the Trustee shall not be liable to pay interest
on any moneys received by it, but shall be liable only to account to the City for earnings derived from
funds that have been invested.
The City acknowledges that regulations of the Comptroller of the Currency grant the City the
right to receive brokerage confirmation of security transactions to be effected by the Trustee hereunder
as they occur. The City specifically waives the right to receive such notification to the extent permitted
by applicable law and agrees that it will instead receive periodic cash transaction statements which
include detail for the investment transactions effected by the Trustee hereunder; provided, however,
that the City retains its right to receive brokerage confirmation on any investment transaction requested
by the City.
ARTICLE V
COVENANTS AND WARRANTY
Section 501. Warranty. The City shall preserve and protect the security of the Bonds and
the rights of the Owners against all claims and demands of all persons.
Section 502. Covenants. So long as any of the Bonds are Outstanding and unpaid, the City
makes the following covenants with the Owners under the provisions of the 1915 Act, the 1984 Act
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and this Indenture (to be performed by the City or its proper officers, agents or employees), which
covenants are necessary, convenient and desirable to secure the Bonds and tend to make them more
marketable; provided, however, that said covenants do not require the City to expend any funds or
moneys other than the Reassessments:
(a) Punctual Payment; Covenant Against Encumbrances. The City covenants that it will
receive all Reassessment Installments in trust and will, consistent with Section 404 hereof, deposit the
Reassessment Installments with the Trustee and the City shall have no beneficial right or interest in
the amounts so deposited except as provided by this Indenture. All such Reassessment Installments,
whether received by the City in trust or deposited with the Trustee, all as herein provided, shall
nevertheless be disbursed, allocated and applied solely to the uses and purposes herein set forth, and
shall be accounted for separately and apart from all other money, funds, accounts or other resources of
the City.
The City covenants that it will duly and punctually pay or cause to be paid the principal of and
interest on every Bond issued hereunder, together with the premium, if any, thereon on the date, at the
place and in the manner set forth in the Bonds and in accordance with this Indenture to the extent
Reassessments and interest earnings transferred to the Redemption Fund are available therefor, and
that the payments into the Redemption Fund and the Reserve Fund will be made, all in strict conformity
with the terms of the Bonds and this Indenture, and that it will faithfully observe and perform all of the
conditions, covenants and requirements of this Indenture and all Supplements and of the Bonds issued
hereunder. If at any time the total balance in the Redemption Fund, the Reassessment Fund and the
Reserve Fund is sufficient to redeem all Outstanding Bonds pursuant to Section 301 hereof, the
Treasurer may direct the Trustee to effect such redemption on the earliest date on which all Outstanding
Bonds may be redeemed.
The City will not mortgage or otherwise encumber, pledge or place any charge upon any of the
Reassessments, and will not issue any obligation or security, payable in whole or in part from the
unpaid Reassessments other than the Bonds.
(b) Covenant to Levy. The City will cause the Reassessment Installments required to pay
the principal of and interest on the Bonds when due to be placed on the tax bills of the owners of the
parcels assessed and covenants to levy assessments, as permitted by law, to satisfy the Administrative
Expense Requirement.
(c) Foreclosure Proceedings. The City will determine or cause to be determined, not later
than August 15 of each fiscal year in which Bonds are Outstanding, whether or not an y owners of the
real property within the Reassessment District are delinquent in the payment of Reassessment
Installments. If such delinquencies exist, the City shall order and caused to be commenced an action
in the superior court to foreclose the lien of the Reassessment Installment(s) not paid when due, not
later than the next following November 1, against any parcel that is subject to delinquencies of $5,000
or more and against any group of parcels under common ownership with an aggregate delinquencie s
of $5,000 or more; provided that during any period in which the amount on deposit in the Reserve
Fund is less than the Reserve Requirement, the City shall commence foreclosure proceedings against
any parcel that is subject to any amount of delinquency. T he City further covenants to diligently
prosecute any such foreclosure action to judgment and foreclosure sale. Upon the redemption or sale
of the real property responsible for such delinquencies, the City shall first deposit to the Reserve Fund
the amount of any delinquency advanced therefrom and then disburse the remaining amount as set
forth in the judgment of foreclosure or as required by law.
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(d) Books and Accounts. The City will cause the Trustee to keep proper books of record
and accounts, separate from all other records and accounts of the City, in which complete and correct
entries shall be made of all transactions made by its Trustee hereunder. Such books of record and
accounts shall at all times during business hours and upon reasonable prior notice be subject to the
inspection of the City or of the Owners of not less than ten percent (10%) of the principal amount of
the Bonds then Outstanding or their representatives authorized in writing.
(e) Collection of the Administrative Expense Requirements. The City covenants that it
will collect annually an amount specified by the Treasurer to be the Administrative Expense
Requirement to pay for Administrative Expenses. The Administrative Expense Requirement so
collected shall not exceed the amount specified in the Reassessment Report.
Section 503. Continuing Disclosure. The City hereby covenants and agrees that it will
comply with and carry out all the provisions of the Continuing Disclosure Certificate. Notwithstanding
any other provision of this Indenture, a failure of the City to comply with the Continuing Disclosure
Certificate shall not be considered an event of default hereunder; provided that the Trustee may (and,
at the written direction of any Participating Underwriter or the Beneficial to Owners of at least 25%
aggregate principal amount of the Outstanding Bonds, and upon being indemnified to its reasonable
satisfaction, shall) or any Beneficial Owner of Bonds may, take such actions as may be n ecessary and
appropriate to compel such performance.
ARTICLE VI
AMENDMENTS TO AGREEMENT
Section 601. Amendments Not Requiring Bondowner Consent. The City may from time
to time, and at any time, without notice to or consent of any of the Bondowners, adopt Supplements
hereto for any of the following purposes:
(a) to cure any ambiguity or to correct or supplement any provisions herein provided that
such action shall not materially adversely affect the interests of the Beneficial Owners;
(b) to add to the covenants and agreements of, and the limitations and the restrictions upon,
the City contained in this Indenture, other covenants, agreements, limitations and restrictions to be
observed by the City which are not contrary to or inconsistent with this Indenture as theretofore in
effect;
(c) to modify, amend or supplement this Indenture in such manner as to permit the
qualification hereof under the Trust Indenture Act of 1939, as amended, or any similar federal statute
hereafter in effect, and to add such other terms, conditions and provisions as may be permitted by said
act or similar federal statute, and which shall not, materially adversely affect the interests of the
Beneficial Owners; or
(d) to modify, alter, amend or supplement this Indenture in any other respect which is not
materially adverse to the Beneficial Owners.
Section 602. Amendments Requiring Bondowner Consent. Exclusive of the
Supplements described in Section 601, the Owners of not less than a majority in aggregate principal
amount of the Bonds then Outstanding shall have the right to consent to and approve such Supplements
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as shall be deemed necessary or desirable by the City for the purpose of waiving, modifying, altering,
amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this
Indenture; provided, however, that nothing herein shall permit, or be construed as permitting, (a) an
extension of the maturity date of the principal, or the payment date of any principal or interest on, any
Bond, (b) a reduction in the principal amount of, or redemption premium on, any Bond or the rate of
interest thereon, (c) a preference or priority of any Bond or Bonds over any other Bond or Bonds, or
(d) a reduction in the aggregate principal amount of the Bonds the Owners of which are required to
consent to such Supplement without the consent of the Owners of all the Bonds then Outstanding.
If at any time the City shall desire to enter into a Supplement, which pursuant to the terms of
this Section shall require the consent of the Bondowners, the City shall so notify the Tr ustee and shall
deliver to the Trustee a copy of the proposed Supplement. The Trustee shall, at the expense of the
City, cause notice of the proposed Supplement to be mailed, by first class mail postage prepaid, to all
Bondowners and their addresses as they appear in the Bond Register. Such notice shall briefly set forth
the nature of the proposed Supplement and shall state that a copy thereof is on file at the office of the
Superintendent of Streets and the corporate trust office of the Trustee for inspection by all Bondowners.
The failure of any Bondowners to receive such notice shall not affect the validity of such Supplement
when consented to and approved by the Owners of not less than a majority in aggregate principal
amount of the Bonds then Outstanding as required by this Section. Whenever at any time within one
year after the date of the first mailing of such notice the Trustee shall receive an instrument or
instruments purporting to be executed by the Owners of not less than a majority in aggregate principal
amount of the Bonds then Outstanding, which instrument or instruments shall refer to the proposed
Supplement described in such notice, and shall specifically consent to and approve the Supplement
substantially in the form of the copy referred to in such notice as on file with the Superintendent of
Streets and the Trustee, such proposed Supplement, when duly executed by the City, shall thereafter
become a part of the proceedings for the issuance of the Bonds. In determining whether the Owners
of a majority of the aggregate principal amount of the Bonds have consented to the adoption of any
Supplement, Bonds which are owned by the City or by any person directly or indirectly controlling or
controlled by or under the direct or indirect common cont rol with the City, shall be disregarded and
shall be treated as though they were not Outstanding for the purpose of any such determination. Upon
request, the City shall designate to the Trustee those Bonds disqualified by this Section.
Upon the execution and delivery by the City and the Trustee of any Supplement and the receipt
of consent to any such Supplement from the Owners of not less than a majority in aggregate principal
amount of Bonds Outstanding in instances where such consent is required pursuant to the provisions
of this Section, this Indenture shall be, and shall be deemed to be, modified and amended in accordance
therewith, and the respective rights, duties and obligations under this Indenture of the City, the Trustee
and all Owners of Bonds then Outstanding shall thereafter be determined, exercised and enforced
hereunder, subject in all respects to such modifications and amendments.
No Supplement pursuant to either Section 601 or this Section shall modify or amend any of the
rights or obligations of the Trustee without its written consent thereto. The Trustee may request an
opinion of counsel, at the expense of the City, that any such Supplement complies with the provisions
of this Article and the Trustee may conclusively rely upon such opinion .
Section 603. Notation of Bonds; Delivery of Amended Bonds. After the effective date of
any action taken as hereinabove provided, the City may determine that the Bonds may bear a notation,
by endorsement in form approved by the City, as to such action, and in that ca se upon demand of the
Owner of any Bond Outstanding at such effective date and presentation of his Bond for the purpose at
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the office of the Trustee, a suitable notation as to such action shall be made on such Bonds. If the City
shall so determine, new Bonds so modified as, in the opinion of the City, shall be necessary to conform
to such action shall be prepared and executed, and in that case upon demand of the Owner of any Bond
Outstanding at such effective date such new Bonds shall be exchanged at the o ffice of the Trustee
without cost to each Owner, for Bonds then Outstanding, upon surrender of such Outstanding Bonds.
ARTICLE VII
TRUSTEE
Section 701. Trustee. Wilmington Trust, National Association is hereby appointed Trustee
for the City for the purpose of receiving all money which the City is required to deposit with the Trustee
hereunder and to allocate, use and apply the same as provided in this Indenture.
The Trustee is hereby authorized to and shall mail by first-class mail, postage prepaid, interest
payments to the Bondowners, select Bonds for redemption, and maintain the Bond Register. The
Trustee is hereby authorized to pay the principal of and premium, if any, on the Bonds when the same
are duly presented to it for payment at maturity or upon redemption, to provide for the registration of
transfer and exchange of Bonds presented to it for such purposes, to provide for the cancellation of
Bonds, and to provide for the authentication of Bonds, and shall perform all other duties assigned to
or imposed on it as provided in this Indenture. The Trustee shall keep accurate records of all funds
administered by it and all Bonds paid and discharged by it.
The Trustee is hereby authorized to pay the Bonds when duly presented for payment at
maturity, or on redemption prior to maturity. The Trustee shall cancel all Bonds upon payment thereof
or upon the surrender thereof by the City pursuant to Section 1001 hereof. The Trustee shall keep
accurate records of all Bonds paid and discharged and canceled by it for six years or such lo nger period
as required by applicable law or the policies of the Trustee.
The Trustee shall supply information regarding investments made under Section 408 at the
written request of the City including: (i) purchase date, (ii) purchase price, (iii) any accrued interest
paid, (iv) face amount, (v) coupon rate, (vi) periodicity of interest payments, (vii) disposition price,
(viii) any accrued interest, received, and (ix) disposition date.
The City shall from time to time, subject to any agreement between th e City and the Trustee
then in force, pay to the Trustee compensation for its services, reimburse the Trustee for all its advances
and expenditures, including, but not limited to, advances to and fees and expenses of independent
accountants, counsel, agents, receiver and engineers or other experts employed by it in the exercise
and performance of its powers and duties hereunder, and indemnify, defend and save the Trustee
harmless against any losses, costs, expenses or liabilities, including reasonable fees and expenses of
its attorneys (including the allocated costs and disbursements of in -house counsel, to the extent such
services are not redundant with those provided by outside counsel), not arising from its own negligence
or willful misconduct which it may incur in the exercise and performance of its powers and duties
hereunder, which indemnity shall survive discharge of the Bonds and the resignation or removal of the
Trustee.
Any bank, national banking association or trust company into which the Trustee m ay be
merged or converted or with which it may be consolidated or any bank , national banking association
or trust company resulting from any merger, conversion or consolidation to which it shall be a party or
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any bank, national banking association or trust company to which the Trustee may sell or transfer all
or substantially all of its corporate trust business, provided such bank, national banking association or
trust company shall be eligible under Section 702, shall be the successor to such Trustee witho ut the
execution or filing of any paper or any further act, anything herein to the contrary notwithstanding.
Section 702. Removal of Trustee. The City may in the absence of an event of default at
any time, in the exercise of its sole discretion, upon thirty (30) days prior written notice to the Trustee,
remove the Trustee initially appointed, and any successor thereto, and may appoint a successor or
successors thereto; provided that any such successor shall be a bank, national banking association or
trust company doing business and having a corporate trust office in Los Angeles or San Francisco,
California, having a combined capital (exclusive of borrowed capital and surplus) (or whose parent or
holding company has a combined capital (exclusive of borrowed capital and surplus) of at least fifty
million dollars ($50,000,000), and subject to supervision or examination by federal or state authority.
If such bank, national banking association or trust company publishes a report of condition at least
annually, pursuant to law or to the requirements of any supervising or examining authority above
referred to, then for the purposes of this section the combined capital and surplus shall be as set forth
in its most recent report of condition so published. The City shall notify the Bondowners in writing of
any such removal of the Trustee and appointment of a successor thereto.
Section 703. Resignation of Trustee. The Trustee may at any time resign by giving written
notice to the City. Upon receiving such notice of resignation, the City shall promptly appoint a
successor Trustee by an instrument in writing; provided, however, that in the event that the City does
not appoint a successor Trustee within thirty (30) days following receipt of such notice of resignation,
the resigning Trustee may petition an appropriate court having jurisdiction to appoint a successor
Trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee shall
become effective only upon the written acceptance of appointment by the successor Truste e, and notice
to the Bondowners of the Trustee’s identity and address.
Section 704. Liability of Trustee. The recitals of fact and all promises, covenants and
agreements contained herein and in the bonds shall be taken as statements, promises, covenants and
agreements of the City, and the Trustee assumes no responsibility for the correctness of the same and
makes no representations as to the validity or sufficiency of this Indenture or of the Bonds or the tax
status of the interest thereon, and shall incur no responsibility in respect thereof other than in
connection with its duties or obligations herein or in the Bonds or in the certificate of authentication
assigned to or imposed upon the Trustee. The Trustee shall have no duties or obligations other than as
specifically set forth herein and no implied duties, covenants or obligations shall be read into this
Indenture against the Trustee. The Trustee shall be under no responsibility or duty with respect to the
issuance of the Bonds for value. The Trustee shall not be liable in connection with the performance of
its duties hereunder, except for its own negligence or willful misconduct.
The Trustee shall have no liability or obligation to the Bondowners with respect to the payment
of debt service by the City or with respect to the observance or performance by the City of the other
conditions, covenants and terms contained in this Indenture, or with respect to the investment of any
moneys in any fund or account established, held or maintained by the City pursuant to this Indenture
or otherwise; provided however that the Trustee provide the Bondowners with notice of event of default
hereunder.
The Trustee shall be protected in acting upon any notice, resolution, request, consent, order,
certificate, report, bond or other paper or documents believed by it to be genuine and to have been
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signed or presented by the proper party or parties. Each Written Request of the City shall be sufficient
evidence to the Trustee of the facts stated therein and the Trustee shall have no duty to confirm the
accuracy of such facts. The Trustee may consult with counsel, who may be counsel to the City, at the
expense of the City, with regard to legal questions, and the opinion or advice of such counsel shall be
full and complete authorization and protection in respect of any action taken or suffered hereunder and
in accordance therewith.
The Trustee shall not be bound to recognize any person as the Owner of a Bond unless and
until such Bond is submitted for inspection, if required, and his title thereto satisfactorily established,
if disputed.
Whenever in the administration of its duties under this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or suffering any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may,
in the absence of willful misconduct on the part of the Trustee, be deemed to be conclusively prov ed
and established by a written certificate of the City, and such certificate shall be full warrant to the
Trustee for any action taken or suffered under the provisions of this Indenture upon the faith thereof,
but in its discretion the Trustee may, in lie u thereof, accept other evidence of such matter or may require
such additional evidence as to it may deem reasonable.
The Trustee shall have no duty or obligations whatsoever to enforce the collection of
Reassessments or other funds to be deposited with it hereunder, or as to the correctness of any amounts
received, but its liability shall be limited to the proper accounting for such funds as it shall actually
receive. The Trustee shall have no duty or obligation to monitor the City’s compliance with the A ct.
No provision in this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of its
rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to it. The Trustee shall be
entitled to interest on all amounts advanced by it at the maximum rate permitted by law.
The Trustee shall have no responsibility, opinion or liability with respect to any information,
statement or recital in any official statement or other disclosure material prepared or distributed with
respect to the issuance of the Bonds.
All protections extended to the Trustee shall also extend to its officers, directors, employees
and agents. The Trustee’s rights to indemnification hereunder and to payment of its fees and expenses
shall survive its resignation or removal and the final payment or defeasance o f the Bonds.
The Trustee makes no covenant, representation or warranty concerning the current or future
tax status of interest on the Bonds.
The Trustee may become an Owner with the same rights it would have if it were not Trustee;
may acquire and dispose of other bonds or evidence of indebtedness of the City with the same rights it
would have if it were not the Trustee; and may act as a depository for and permit any of its officers or
directors to act as a member of, or in any other capacity with respect t o, any committee formed to
protect the rights of Owners, whether or not such committee shall represent the Owners of the majority
in principal amount of the Bonds then Outstanding.
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The Trustee may execute any of the trusts or powers hereof and perform the duties required of
it hereunder by or through attorneys, agents, or receivers, shall not be responsible for the actions or
omissions of such attorneys, agents or receivers if appointed by it with reasonable care, and shall be
entitled to advice of counsel concerning all matters of trust and its duty hereunder.
The Trustee shall not be liable in connection with the performance of its duties hereunder,
except for its own negligence or willful misconduct. The Trustee shall only perform those duties
specifically set forth herein and no implied duties, covenants or obligations whatsoever shall be read
into this Indenture. In the event of and during the continuance of an Event of Default, the Trustee shall
exercise such care in performing its duties hereunder as a prudent person would exercise under the
circumstances in the conduct of its own affairs. No action by the Trustee shall be construed or deemed
to expand the limitations on the scope of the Trustee’s duties. The Trustee shall not be considered in
breach of or in default in its obligations hereunder in the event of enforced delay (“unavoidable delay”)
in the performance of such obligations due to unforeseeable causes beyond its control and without its
fault or negligence, including, but not limited to, Acts of God or of the public enemy or terrorists, acts
of government, acts of the other party, fires, floods, epidemics, quarantine restrictions, strikes, freight
embargoes, earthquakes, explosion, mob violence, riot, inability to procure or general sabotage or
rationing of labor, equipment, facilities, sources of energy, material or supplies in the open market,
litigation or arbitration involving a party or others relating to zoning or other governmental action or
inaction pertaining to the Assessment District, malicious mischief, condemnation, and unusually severe
weather or delays of suppliers or subcontractors due to such causes or any similar event and/or
occurrences beyond the control of the Trustee.
In accepting the duties of the Trustee hereby created, the Trustee acts solely as Trustee for the
Owners and not in its individual capacity, and all persons, including, without limitation, the Owners
and the City, having any claim against the Trustee arising from this Indenture shall look only to the
funds and accounts held by the Trustee hereunder for payment, except as otherwise provided herein or
where the Trustee has breached its standard of care as described in this Section. Under no
circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the
Bonds.
The Trustee shall not be liable with respect to any action taken or omitted to be taken by it in
good faith in accordance with the direction of the Owners of not less than a majority in aggregate
principal amount of the Bonds at the time Outstanding, which such majority of the Owners may give,
relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee or in the exercise of any right hereunder. In the event of confli cting instructions hereunder,
the Trustee shall have the right to decide the appropriate course of action and be protected in so doing.
The Trustee shall have no responsibility or liability with respect to any information, statement
or recital in any official statement, offering memorandum or any other disclosure material prepared or
distributed in any respect relating to the Bonds.
The Trustee shall not to be deemed to have knowledge of any Event of Default hereunder
unless it has actual knowledge thereof at its Principal Office.
The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture
sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods,
provided, however, that, the Trustee shall have received an incumbency certificate listing persons
designated to give such instructions or directions and containing specimen signatures of such
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designated persons, which such incumbency certificate shall be amended and replaced whenever a
person is to be added or deleted from the listing. If the City elects to give the Trustee e -mail or facsimile
instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to
act upon such instructions, the Trustee’s understanding of such instructions shall be deemed
controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or
indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding
such instructions conflict or are inconsistent with a subsequent written instruction. The City agrees to
assume all risks arising out of the use of such electronic methods to submit instructions and directions
to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions,
and the risk of interception and misuse by third parties.
The Trustee shall not be responsible for or accountable to anyone for the subsequent use or
application of any moneys which shall be released or withdrawn in accordance with the provisions
hereof.
The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request, order or direction of any of the Owners pursuant to the provisions of this
Indenture unless such Owners shall have offered to the Trustee reasonable security or indemnity
against the costs, expenses and liabilities which may be incurred therein or thereby.
The permissive right of the Trustee to do things enumerated in this Indenture shall not be
construed as a duty and it shall not be answerable for other than its negligence or willful misconduct.
Section 705. Interested Transactions. The Trustee and its officers and employees may
acquire and hold Bonds with the same effect as if it were not Trustee. The Trustee, either as principal
or agent, may engage in or be interested in any financial or other transaction with the City.
Section 706. Agents. The Trustee may execute any of its trusts or powers or perform its
duties through attorneys, agents or receivers and the Trustee shall not be answerable for the default or
misconduct of any such attorney, agent or receiver selected by it with reasonable care.
ARTICLE VIII
EVENTS OF DEFAULT; REMEDIES
Section 801. Event of Default. Any one or more of the following events shall constitute an
“event of default”:
(a) Default in the due and punctual payment of the principal of or redemption premium, if
any, on any Bond when and as the same shall become due and payable, whether at maturity as therein
expressed or from mandatory redemption;
(b) Default in the due and punctual payment of the interest on any Bond when and as the
same shall become due and payable; or
(c) Default by the City in the observance of any of the other agreements, conditions or
covenants on its part in this Indenture or in the Bonds cont ained, and the continuation of such default
for a period of thirty (30) days after the City shall have been given notice in writing of such default by
the Trustee or any Owner, provided that if within thirty (30) days the City has commenced curing of
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the default and diligently pursues elimination thereof, such period shall be extended to permit such
default to be eliminated.
The Trustee shall provide notice to the Owners of the occurrence of an event of default after
the Trustee has actual knowledge of such occurrence.
Section 802. Remedies. Following the occurrence and during the continuance of an event
of default, the Trustee may pursue any available remedy at law or in equity to enforce the provisions
of this Indenture and to enforce any rights of the Trustee hereunder, including:
(a) by mandamus or other suit or proceeding at law or in equity to enforce the rights of the
Owners and/or of the Trustee against the City and any of the officers and employees of the City, and
to compel the City or any such officers or employee s to perform and carry out their duties under the
Act and their agreements with the Owners and the Trustee as provided in this Indenture;
(b) by suit in equity to enjoin any actions or things which are unlawful or violate the rights
of the Owners and/or of the Trustee; or
(c) by a suit in equity to require the City and its members, officers and employees to
account as the trustee of an express trust.
If an event of default shall have occurred and be continuing and if requested so to do by the
Owners of at least twenty-five percent (25%) in aggregate principal amount of Outstanding Bonds and
if indemnified to its satisfaction, the Trustee shall be obligated to exercise such one or more of the
rights and powers conferred by this Article, as the Trustee, being advised by counsel, shall deem most
expedient in the interests of the Owners.
No remedy herein conferred upon or reserved to the Trustee or to the Owners is intended to be
exclusive of any other remedy. Every such remedy shall be cumulative and shall be in additi on to
every other remedy given hereunder or now or hereafter existing, at law or in equity or by statute or
otherwise, and may be exercised without exhausting and without regard to any other remedy conferred
by the Act or any other law.
Section 803. Application of funds upon an event of default.
If an event of default shall occur and be continuing, the Trustee shall apply all funds then held
or thereafter received by the Trustee under any of the provisions of this Indenture (except as otherwise
provided in this Indenture) as follows and in the following order:
(1) To the payment of any expenses necessary in the opinion of the Trustee to protect the
interests of the Owners of the Bonds, including the costs and expenses of the Trustee in declaring such
event of default, and payment of reasonable fees and expenses of t he Trustee (including reasonable
fees and disbursements of its counsel and other agents) incurred in and about the performance of its
powers and duties under this Indenture;
(2) To the payment to the persons entitled thereto of all installments of interest then due in
the order of the maturity of such installment, and, if the amount available shall not be sufficient to pay
in full any installment or installments maturing on the same date, then to the payment thereof ratably
according to the amounts due thereon, to the persons entitled thereto, without any discrimination or
preference; and
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(3) To the payment to the persons entitled thereto of the unpaid principal with respect to
any Bond which shall have become due, whether at maturity or by call for redemp tion, in the order of
their due dates, with interest on the overdue principal and interest at a rate equal to the rate paid with
respect to the Bonds and, if the amount available shall not be sufficient to pay in full all the amounts
due with respect to the Bonds on any date, together with such interest, then to the payment thereof
ratably, according to the amounts of principal due on such date to the persons entitled thereto, without
any discrimination or preference.
ARTICLE IX
DEFEASANCE
Section 901. Defeasance. If the City shall pay or cause to be paid, or there shall otherwise
be paid, to the Owners of any Outstanding Bonds the interest due thereon and the principal thereof, at
the times and in the manner stipulated therein and in this Indenture, then the Owners of such Bond s
shall cease to be entitled to the pledge of Reassessments and other amounts hereunder, and all
covenants, agreements and other obligations of the City to the Owners of such Bonds under this
Indenture shall thereupon cease, terminate and become void and be discharged and satisfied except for
the City’s covenant under Section 502(e) hereof. In such event, the Trustee shall execute and deliver
to the City all such instruments as may be desirable to evidence such discharge and satisfaction, and
the Trustee shall pay over or deliver to the City after payment of any amounts due the Trustee hereunder
all money or securities held by it pursuant to this Indenture which are not required for the payment of
the interest due on, and the principal of, such Bonds.
Any Outstanding Bond shall be deemed to have been paid within the meaning expressed in the
first paragraph of this Section if such Bond is paid in any one or more of the following ways:
(a) by paying or causing to be paid the principal of and interest with respect to such Bond,
as and when the same become due and payable;
(b) by depositing with the Trustee, in trust, at or before maturity, money which, together
with the amounts then on deposit in the Reassessment Fund, the Reserve Fund and the Redemption
Fund, is fully sufficient to pay the principal of, premium and interest on such Bond as and when the
same shall become due and payable; or
(c) by depositing with the Trustee, in trust, Federal Securities in such amount as an
Independent Financial Consultant shall determine will, together with the interest to accrue thereon and
moneys then on deposit in the Reassessment Fund, the Reserve Fund and the Redemption Fund which
is available to pay such Bond, together with the interest to accrue thereon without further investment,
be fully sufficient to pay and discharge the principal of, premium, if any, and interest on such Bond as
and when the same shall become due and payable; then, notwithstanding that such Bond shall not have
been surrendered for payment, all obligations of the City under this Indenture with respect to such
Bond shall cease and terminate, except for the obligation of the Trustee to pay or cause to be paid to
the Owner of any Bond not so surrendered and paid, all sums due thereon from funds provided to it by
the City and except for the City’s covenant under Section 502(e) hereof. Any money or securities
deposited with the Trustee to defease any Bond or Bonds shall be accompanied by a certificate of a
certified public accountant confirming the accuracy of the calculations establishing the sufficiency of
such deposit. Any funds held by the Trustee at the time of payment or defeasance of all Outstanding
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Bonds, which are not required for the purpose above mentioned, or for payment of amounts due the
Trustee hereunder shall be paid over to the City.
ARTICLE X
MISCELLANEOUS
Section 1001. Cancellation of Bonds. All Bonds surrendered to the Trustee for payment
upon maturity or for redemption shall upon payment therefor, and any Bond purchased by the City as
authorized herein shall be, cancelled forthwith and shall not be reissued. The Trustee shall destroy
such Bonds as provided by law and furnish to the City a certificate of destruction.
Section 1002. Execution of Documents and Proof of Ownership. Any request, direction,
consent, revocation of consent, or other instrument in writing required or permitted by this Indenture
to be signed or executed by Bondowners may be in any number of concurrent instruments of similar
tenor, may be signed or executed by such Owners in person or by their attorneys appointed by an
instrument in writing for that purpose, or by the commercial ban k, trust company or other depository
for such Bonds. Proof of the execution of any such instrument, or of any instrument appointing any
such attorney, and of the ownership of Bonds shall be sufficient for the purposes of this Indenture
(except as otherwise herein provided), if made in the following manner:
(a) The fact and date of the execution by any Owner or his or her attorney of any such
instrument and of any instrument appointing any such attorney, may be proved by a signature guarantee
of any commercial bank or trust company located within the United States of America. Where any
such instrument is executed by an officer of a corporation or association or a member of a partnership
on behalf of such corporation, association or partnership, such signature guarantee shall also constitute
sufficient proof of his authority.
(b) As to any Bond, the person in whose name the same shall be registered in the Bond
Register shall be deemed and regarded as the absolute Owner thereof for all purposes, and payment of
or on account of the principal of any such Bond, and the interest thereon, shall be made only to or upon
the order of the registered Owner thereof or his or her legal representative. All such payments shall be
valid and effectual to satisfy and discharge the liability upon such Bond and the interest thereon to the
extent of the sum or sums to be paid. The Trustee shall not be affected by any notice to the contrary.
Nothing contained in this Indenture shall be construed as limiting the Trustee to such proof, it being
intended that the Trustee may accept other evidence of the matters herein stated which the Trustee may
deem sufficient. Any request or consent of the Owner of any Bond shall bind every future Owner of
the same Bond in respect of anything done or suffered to be done by the Trustee in pursuance of such
request or consent.
Section 1003. Unclaimed Moneys. Anything in this Indenture to the contrary
notwithstanding, any money held by the Trustee in trust for the payment and discharge of any of the
Bonds which remains unclaimed for one year after the Bonds become due and payable, if such money
was held by the Trustee at such date, or for one year after the date of deposit of such money if deposited
with the Trustee after said date when such Bonds become due and payable, shall be repaid by the
Trustee to the City, as its absolute property and free from trust, and the Trustee shall thereupon be
released and discharged with respect thereto and the Owners shall look only to the City for the payment
of such Bonds; provided, however, that, before being required to make any such payment to the City,
the Trustee shall, at the written request and the expense of the City, cause to be mailed to the registered
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Owners of such Bonds, at their addresses as they appear on the Bond Registe r, a notice that said money
remains unclaimed and that, after a date named in said notice, which date shall not be less than thirty
(30) days after the date of the mailing of such notice, the balance of such money then unclaimed will
be returned to the City.
Section 1004. Provisions Constitute Contract; Successors. The provisions of this
Indenture shall constitute a contract between the City and the Bondowners and the provisions hereof
shall be construed in accordance with the laws of the State of California. The City and the Trustee
acknowledge and agree that the Bondholders are third party beneficiaries of this Indenture and shall
be entitled to enforce the provisions of this Indenture against the City and the Trustee in the same
manner as if the Bondholders were parties hereto.
In case any suit, action or proceeding to enforce any right or exercise any remedy shall be
brought or taken by the Trustee at the direction of the Bondowners, and the Trustee shall prevail, the
Trustee and such Bondowners shall be entitled to receive from the Assessment District reimbursement
for reasonable costs, expenses, outlays and attorneys’ fees (including the allocated costs and
disbursements of in-house counsel, to the extent such services are not redundant with those provided
by outside counsel), and should said suit, action or proceeding be abandoned, or be determined
adversely to the Trustee, then the City, the Trustee and the Bondowners shall be restored to their former
positions, rights and remedies as if such suit, action or proceeding had not been brought or taken.
After the issuance and delivery of the Bonds this Indenture shall be irrepealable, but shall be
subject to modifications to the extent and in the manner provided in this Indenture, but to no greater
extent and in no other manner.
This Indenture shall be binding upon the City and the Trustee and shall inure to the benefit of
the City, the Trustee, the Bondholders, and their respective successors and assigns.
Section 1005. Further Assurances; Incontestability. The City will adopt, make, execute
and deliver any and all such further resolutions, instruments and assurances as may be reasonably
necessary or proper to carry out the intention or to facilitate the performance of this Indenture, and for
the better assuring and confirming unto the Owners of the Bonds of the rights and benefits provided in
this Indenture.
After the sale and delivery of the Bonds by the City, the Bonds shall be incontestable by the
City.
Section 1006. Severability. If any covenant, agreement or provision, or any portion thereof,
contained in this Indenture, or the application thereof to any person or circumstance, is held to be
unconstitutional, invalid or unenforceable, the remainder of this Indenture and the application of any
such covenant, agreement or provision, or portion t hereof, to other persons or circumstances, shall be
deemed severable and shall not be affected thereby, and this Indenture and the Bonds shall remain
valid and the Bondowners shall retain all valid rights and benefits accorded to them under the laws of
the State of California.
Section 1007. General Authorization. Authorized Representatives of the City are hereby
respectively authorized to do and perform from time to time any and all acts and things consistent with
this Indenture necessary or appropriate to carry the same into effect.
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Section 1008. Liberal Construction. This Indenture shall be liberally construed to the end
that its purpose may be effected. No error, irregularity, informality and no neglect or omission herein
or in any proceeding had pursuant hereto which does not di rectly affect the jurisdiction of the City
Council shall void or invalidate this Indenture or such proceeding or any part thereof, or any act or
determination made pursuant thereto.
Section 1009. Notice. Any notices required to be given to the City with respect to the Bonds
for this Indenture shall be mailed, first class, or personally delivered to the Finance Director of the City
at 130 South Main Street, Lake Elsinore, CA 92530,; and all notices to the Trustee shall be mailed,
first class, or personally delivered to the Trustee at 650 Town Center Drive, Suite 800, Costa Mesa,
CA.
Section 1010. Action on Next Business Day. If the date for making any payment or the last
date for performance of any act or the exercising of any right, as provided in this Indenture, is not a
Business Day, such payment, with no interest accruing for the period from and after such nominal date,
may be made or act performed or right exercised on the next succeeding Business Day with the same
force and effect as if done on the nominal date provided therefore in this Indenture.
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IN WITNESS WHEREOF, the City and the Trustee have executed this Indenture, effective the
date first written above.
CITY OF LAKE ELSINORE
By:
City Manager
ATTEST:
City Clerk
WILMINGTON TRUST, NATIONAL
ASSOCIATION,
as Trustee
By:
Authorized Officer
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EXHIBIT A
FORM OF BOND
R-__ $__________
UNITED STATES OF AMERICA
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BOND
(FEDERALLY TAXABLE)
INTEREST RATE MATURITY DATE DATED DATE CUSIP
___% September 2, ____ _____, 2021
REGISTERED OWNER: CEDE & CO.
PRINCIPAL AMOUNT:
Under and by virtue of the Refunding Act of 1984 for 1915 Improvement Act Bonds, (Division
11.5, commencing with Section 9500, of the California Streets and Highways Code) (the “Act”) and
Resolution No. ____ (the “Resolution of Issuance”) adopted by the City Council of the City of Lake
Elsinore (the “City”) on the 13th day of April, 2021, the City will, out of the redemption fund for the
payment of the bonds issued upon the unpaid portion o f reassessments more fully described in
proceedings taken pursuant to Resolution No. _____ (the “Resolution of Intention”) adopted by the
City Council of the City on the 13th day of April, 2021, pay to the registered owner stated above, on
the maturity date stated above, the principal sum stated above in lawful money of the United States of
America, all as provided for in a Indenture dated as of May 1, 2021 (the “Indenture”), by and between
Wilmington Trust, National Association, as Trustee (the “Trustee”) and the City. In like manner, the
City will pay interest on this bond from the Interest Payment Date (as defined below) next preceding
the date on which this bond is authenticated, unless (i) its date of authentication is after the sixteenth
day of the month preceding an Interest Payment Date (the “Record Date”) and on or before the
immediately succeeding Interest Payment Date, in which event the bond shall bear interest from such
Interest Payment Date or (ii) its date of authentication is before the close of business on the first Record
Date, in which event the bond shall bear interest from its date; provided, however, that if at the time of
authentication of this bond, interest is in default, interest on this bond shall be payable from the last
Interest Payment Date to which the interest has been paid or made available for payment. Such interest
shall be payable on March 2 and September 2 of each year, commencing September 2, 2021 (each, an
“Interest Payment Date”).
Both the principal hereof and redemption premium hereon, if any, are payable at the principal
corporate trust office of the Trustee, and the interest hereon is payable by check mailed by first class
mail, postage prepaid, on the Interest Payment Date to the owner hereof at the owner’s address as it
appears on the records of the Trustee or at such address as may have been filed with the Trustee for
that purpose, at the close of business on the applicable Record Date; provided, however, that at the
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written request of an owner of at least $1,000,000 in aggregate principal amount of bonds, filed with
the Trustee prior to any Record Date, interest on such bonds will be paid to such owner on such
succeeding Interest Payment Date by wire transfer of immediately available funds to an account within
the United States of America designated in such written request.
This bond will continue to bear interest after maturity at the rate above stated provided it is
presented at maturity and payment hereof is refused upon the sole ground that there are not suffic ient
moneys in said redemption fund with which to pay the same. If it is not presented at maturity, interest
hereon will run only until maturity.
This bond is issued by the City under the Act and the Indenture for the purpose of providing
means for refinancing the improvements described in the aforesaid proceedings; and it is secured by
the moneys in the redemption fund and by the unpaid portion of certain reassessments made for the
payment of those improvements, and, including principal and interest, is p ayable exclusively out of
said fund.
This bond, or any portion of the principal hereof, may be redeemed and paid in advance of
maturity on any Interest Payment Date from and to the extent of the proceeds of prepayment of
reassessments in the manner provided in Part 11.1 of the Act and as more particularly set forth in the
Indenture at the following respective redemption prices (expressed as percentages of the principal
amount of the Bonds to be redeemed), plus accrued interest thereon to the date of redemption:
Redemption Dates Redemption Prices
%
This bond is also subject to redemption prior to its stated maturity date on any Interest Payment
Date on or after September 2, 20__, from any source of funds other than prepayment of Reassessments,
at a redemption price equal to the principal amount of the Bonds to be redeemed, plus accrued interest
thereon to the date of redemption, without premium.
The Bonds maturing on September 2, 20__ shall be subject to mandatory sinking fund
redemption prior to maturity, in part, on September 2, 20__, and on each September 2 thereafter, from
sinking fund payments, at a redemption price equal to the principal amount of Bonds to be redeemed,
together with accrued interest to the date of redemption, without premium, as follows:
20__ Term Bond
Redemption Date
(September 2)
Redemption
Amount
$
__ (maturity)
This bond is transferable by the registered owner hereof, in person or by the owner’s attorney
duly authorized in writing, at the office of the Trustee, subject to the terms and conditions provided in
the Indenture, including the payment of certain charges, if any, upon surrender and cancellation of this
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4811-7828-9115v4/022042-0037
bond. Upon such transfer a new registered bond for the same aggregate principal amount, will be
issued to the transferee in exchange herefor.
The City and the Trustee may treat the owner hereof, as shown on the bond register kept by the
Trustee, as the absolute owner for all purposes; and the City and the Trustee shall not be affected by
any notice to the contrary.
The Indenture is incorporated by reference herein and by acceptance hereof the registered
owner assents to said terms and conditions.
This bond is subject to refunding pursuant to the procedures of the Refunding Act of 1984 for
1915 Improvement Act Bonds.
This bond shall not be entitled to any benefit under the Act or the Indenture or become valid
or obligatory for any purpose, until the certificate of authentication and registration hereon endorsed
shall have been manually signed by the Trustee.
THE CITY HAS DECLARED AND DETERMINED IN THE RESOLUTION OF
INTENTION THAT, PURSUANT TO SECTION 8769 OF THE IMPROVEMENT BOND ACT OF
1915, IT WILL NOT OBLIGATE ITSELF TO ADVANCE AVAILABLE FUNDS FROM THE CITY
TREASURY TO CURE ANY DEFICIENCY WHICH MAY OCCUR IN THE REDEMPTION
FUND.
NEITHER THE FAITH AND CREDIT NOR THE TAXING POWER OF THE CITY OF
LAKE ELSINORE, THE COUNTY OF RIVERSIDE, THE STATE OF CALIFORNIA OR ANY
POLITICAL SUBDIVISION THEREOF IS PLEDGED TO THE PAYMENT OF THE BONDS. THE
BONDS ARE SPECIAL OBLIGATIONS OF THE CITY PAYABLE SOLELY FROM THE
SOURCES DESCRIBED IN THE INDENTURE.
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4811-7828-9115v4/022042-0037
IN WITNESS WHEREOF, the City of Lake Elsinore has caused this bond to be signed in
manual or facsimile form by the Treasurer of said City, attested to by the City Clerk of the City Council
of said City, all as of the __ day of May, 2021.
CITY OF LAKE ELSINORE
City Treasurer
ATTEST:
City Clerk
[FORM OF CERTIFICATE OF AUTHENTICATION]
This is one of the bonds described in the within-mentioned Indenture, which bond has been
authenticated and registered on __ day of May, 2021.
WILMINGTON TRUST, NATIONAL
ASSOCIATION,
as Trustee
By:
Authorized Signatory
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4811-7828-9115v4/022042-0037
[FORM OF LEGAL OPINION]
The attached is a true copy of the opinion rendered by Stradling Yocca Carlson & Rauth, a
Professional Corporation, Newport Beach, California, in connection with the issuance of, and dated as
of the date of the original delivery of, the Bonds. A signed copy is on file in my office.
City Clerk of the City of Lake Elsinore
[FORM OF ASSIGNMENT]
For value received the undersigned do(es) hereby sell, assign and transfer unto
TAX I.D. #:
the within bond and do(es) hereby irrevocably constitute and appoint
attorney to transfer the same on the register of the Trustee with full power of substitution in the
premises.
Date:
SIGNATURE GUARANTEED:
Signature(s) must be guaranteed by an eligible
guarantor institution
NOTE: The signature(s) to this Assignment
must correspond with the name(s) as
written on the face of the within bond in
every particular, without alteration or
enlargement or any change whatsoever
and the signature(s) must be guaranteed
by an eligible guarantor.
$_______
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BONDS
(FEDERALLY TAXABLE)
BOND PURCHASE AGREEMENT
_______, 2021
City of Lake Elsinore
130 South Main Street
Lake Elsinore, California 92530
Ladies and Gentlemen:
Stifel, Nicolaus & Company, Incorporated (the “Underwriter”), acting not as a fiduciary or
agent for the City of Lake Elsinore (the “City”), offers to enter into this Bond Purchase Agreement
(this “Purchase Agreement”) with the City, which, upon acceptance by the City, will be binding upon
the City and upon the Underwriter. This offer is made subject to its acceptance by the Cit y prior to
11:59 p.m. PDT on the date hereof; and, if not accepted prior thereto, it will be subject to withdrawal
by the Underwriter upon notice delivered to the City.
The City acknowledges and agrees that: (i) the purchase and sale of the Bonds (as such term
is defined below) pursuant to this Purchase Agreement is an arm’s -length commercial transaction
between the City and the Underwriter; (ii) in connection therewith and with the discussions,
undertakings and procedures leading up to the consummation of such transaction, the Underwriter is
and has been acting solely as a principal and is not and has not been acting as a “municipal advisor”
(as such term is defined in Section 15B of the Securities Exchange Act of 1934, as amended) to the
City; (iii) the Underwriter has not assumed an advisory or fiduciary responsibility in favor of the City
with respect to the offering contemplated hereby or the discussions, undertakings and procedures
leading thereto (irrespective of whether the Underwriter has provided other services or is currently
providing other services to the City on other matters) and the Underwriter has no obligation to the City
with respect to the offering contemplated by this Purchase Agreement except the obligations expressly
set forth in this Purchase Agreement; (iv) the Underwriter has financial interests that may differ from
and be adverse to those of the City; and (v) the City has consulted its own legal, financial and other
advisors to the extent that it has deemed appropriate in connection with this transaction.
1. Purchase, Sale and Delivery of the Bonds.
(a) Subject to the terms and conditions and in reliance upon the representations, warranties
and agreements set forth herein, the Underwriter agrees to purchase from the City, and the City agrees
to sell to the Underwriter, all (but not less than all) of the City of Lake Elsinore Reassessment District
No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds (Federally Taxable) (the “Bonds”) in
the aggregate principal amount specified in Exhibit A hereto. The Bonds shall be dated the Closing
Date (as such term is hereinafter defined); and they shall bear interest from said date (payable
2
semiannually on March 2 and September 2 in each year, commencing September 2, 2021) at the rates
per annum and mature on the dates and in the amounts, all as set forth in Exhibit A hereto. The
purchase price for the Bonds shall be the amount specified as such in Exhibit A hereto.
(b) The Bonds shall be substantially in the form described in, shall be issued and secured
under the provisions of, and shall be payable and subject to redemption as provided in, the Indenture ,
dated as of May 1, 2021 (the “Indenture”), by and between the City and Wilmington Trust, National
Association, as trustee (the “Trustee”), approved by a resolution adopted by the City Council of the
City (the “City Council”) on April ___, 2021 (the “Resolution of Issuance”). The Bonds and interest
thereon will be payable from unpaid reassessments (the “Reassessments”) levied and collected within
the area designated “Reassessment District No. 2021-1” (the “Reassessment District”) formed by the
City in accordance with the Improvement Bond Act of 1915, as amended, being Division 10 of the
California Streets and Highways Code (the “Bond Law”), and the Refunding Act of 1984 for 1915
Improvement Act Bonds, as amended, being Division 11.5 of the California Streets and Highways
Code (the “Refunding Law,” and, together with the Bond Law, the “Act”).
(c) Proceeds from the sale of the Bonds will be used in accordance with the Indenture and
the Act issued to defease and redeem the City’s Assessment District No. 93-1 Limited Obligation
Refunding Improvement Bonds, 2012 Series A (the “Prior Bonds”).
(d) Subsequent to its receipt of a certificate of the City, deeming the Preliminary Official
Statement for the Bonds, dated ______, 2021 (the “Preliminary Official Statement”), final for purposes
of Rule 15c2-12 of the Securities and Exchange Commission (“Rule 15c2 -12”), the Underwriter has
distributed copies of the Preliminary Official Statement. The City hereby ratifies the use by the
Underwriter of the Preliminary Official Statement and authorizes the Underwriter to use and distribute,
in connection with its offer and sale of the Bonds, printed and/or electronic forms of : (i) the final
Official Statement, dated the date hereof (including all information previously permitted to have been
omitted by Rule 15c2-12, and any supplements and amendments thereto as have been approved by the
City as evidenced by the execution and delivery of such document by an officer of the Reassessment
District) (the “Official Statement”), (ii) the Indenture, (iii) the Continuing Disclosure Certificate of the
City (the “Continuing Disclosure Certificate”), (iv) this Purchase Agreement, (v) the Escrow
Agreement, dated as of May 1, 2021 (the “Escrow Agreement”), by and among the City, the Lake
Elsinore Public Financing Authority (the “Authority”) and Wilmington Trust, National Association,
acting as escrow agent (the “Escrow Agent”) and (vi) all other documents, certificates and written
statements furnished by the City to the Underwriter in connection with the transactions contemplated
by this Purchase Agreement and all information therein. The Underwriter hereby agree s to deliver a
copy of the Official Statement to the Municipal Securities Rulemaking Board (the “MSRB”) through
the Electronic Municipal Marketplace Access website of the MSRB on or before the Closing Date and
otherwise to comply with all applicable statutes and regulations in connection with the offering and
sale of the Bonds, including, without limitation, MSRB Rule G-32 and Rule 15c2-12.
2. Public Offering.
The Underwriter agrees to make a bona fide public offering of the Bonds at the initial
public offering price or prices set forth on the inside cover page of the Official Statement and in
Exhibit A hereto; and, subject to Section 2(c) hereof, the Underwriter reserves the right to change such
initial public offering prices as the Underwriter deems necessary or desirable, in its sole discretion, in
connection with the marketing of the Bonds, and to sell the Bonds to certain dealers (including dealers
depositing the Bonds into investment trusts) and others at prices lower than the initial offering prices
3
set forth in the Official Statement. A “bona fide public offering” shall include an offering to
institutional investors or registered investment companies, regardless of the number of such investors
to which the Bonds are sold.
3. Delivery of the Bonds. At 8:00 A.M., Pacific Daylight Time, on _____, 2021, or at
such other time or date as shall be agreed upon by the Underwriter and the City (such time and date
being herein referred to as the “Closing Date”), the City will deliver (i ) to The Depository Trust
Company (“DTC”) or to Wilmington Trust, National Association, acting as DTC’s agent, the Bonds
in definitive form (all Bonds being in book-entry form registered in the name of Cede & Co. and having
the CUSIP numbers assigned to them printed thereon), duly executed by the officers of the City, as
provided in the Indenture, and (ii) to the Underwriter, at the offices of Bond Counsel, or at such other
place as shall be mutually agreed upon by the City and the Underwriter, the other documents herein
mentioned; and the Underwriter shall accept such delivery and pay the purchase price of the Bonds in
immediately available funds (such delivery and payment being herein referred to as the “Closing”).
4. Representations, Warranties and Agreements of the City. The City represents,
warrants and covenants to and agrees with the Underwriter that:
(a) The City is a general law city and municipal corporation of the State of California (the
“State”), duly organized and validly existing pursuant to the Constitution and laws of the State with
full right, power and authority to (i) enter into this Purchase Agreement, (ii) enter into the Indenture,
(iii) enter into the Escrow Agreement, (iv) enter into the Continuing Disclosure Certificate, (v) adopt
the Resolution of Issuance, adopt the resolution of the City Council declaring its intention to levy
reassessments and to issue refunding bonds upon the security thereof (the “Resolution of Intention”),
and the resolution of the City Council adopting the Reassessment Report, confirming and ordering the
reassessment pursuant to summary proceedings and directing actions with respect thereto (the
“Resolution Confirming Reassessments”), and to take all other actions on the part of the City relating
thereto (the Resolution of Issuance, the Resolution of Intention and the Resolution Confirming
Reassessments are collectively referred to herein as the “City Resolutions”), (vi ) issue, sell and deliver
the Bonds as provided in this Purchase Agreement and the Indenture, and (vii) carry out and
consummate the transactions on its part contemplated by this Purchase Agreement, the Indenture, the
Continuing Disclosure Certificate, the Escrow Agreement and the Official Statement. This Purchase
Agreement, the Indenture, the Continuing Disclosure Certificate, the Escrow Agreement, the Bonds
and the Official Statement are collectively referred to herein as the “City Documents.”
(b) The City has complied, and will at the Closing Date be in compliance, in all material
respects, with the City Resolutions and the City Documents, and any immaterial compliance by the
City, if any, will not impair the ability of the City to carry out, give effect to or consummate the
transactions contemplated by the foregoing. From and after the date of issuance of the Bonds, the City
will continue to comply with the covenants of the City contained in the City Documents.
(c) By all necessary official action of the City, the City has (i ) duly and validly formed the
Reassessment District, confirmed the Reassessments described in the Official Statement and taken all
actions necessary to cause said Reassessments to constitute liens on the respective parcels to which
they were confirmed, and (ii) duly authorized and approved the execution and delivery by the City of,
and the performance by the City of the obligations on its part contained in, the City Document s and,
as of the date hereof, such authorizations and approvals are in full force and effect and have not been
amended, modified or rescinded. When executed and delivered by the parties thereto, the City
Documents will constitute the legally valid and bin ding obligations of the City enforceable upon the
4
City in accordance with their respective terms, except as enforcement may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws or equitable principles relating to or affecting
creditors’ rights generally. The City has complied, and will at the Closing be in compliance in all
respects, with the terms of the City Documents applicable to the City.
(d) The Reassessments described in the Official Statement have been duly and lawfully
confirmed under and pursuant to the provisions of the California Constitution and the Act; and each
such Reassessment constitutes a valid and legally binding lien on the parcel of land in the Reassessment
District on which such Reassessment was confirmed. The Reassessments are not subject to repeal or
reduction by action of the City Council if the effect thereof would interfere with the timely payment of
the principal of and interest on the Bonds. Except as disclosed in the Official Statement, as of the
Closing Date there will be no outstanding liens for general (ad valorem) taxes or special taxes or
assessment liens against the land in the Reassessment District which will be senior to the Reassessment
liens.
(e) To the best of the City’s knowledge, the City is not in breach of or default under any
applicable law or administrative rule or regulation of the State or the United States, or of any
department, division, agency or instrumentality thereof, or under any applicable court or administrative
decree or order, or under any indenture, fiscal agent agreement, loan agreement, note, resolution,
contract, agreement or other instrument to which the City is a party or is otherwise subject or bound, a
consequence of which could be to materially and adversely affect the performance by the City of its
obligations under the City Resolutions or the City Documents, and compliance with the provisions of
each thereof will not conflict with or constitute a breach of or default under any applicable law or
administrative rule or regulation of the State or the United States, or of any department, division,
agency or instrumentality thereof, or under any applicable court or administrative decree or order, or a
material breach of or default under any loan agreement, note, resolution, trust agreement, contract,
agreement or other instrument to which the City is a party or is otherwise subject or bound.
(f) Except for compliance with the blue sky or other states’ securities law filings, as to
which the City makes no representations, all approvals, consents, authorizations, elections and orders
of or filings or registrations with any state governmental authority, board, agency or commission
having jurisdiction which would constitute a condition precedent to, or the absence of which would
materially adversely affect, the performance by the City of its obligations hereunder, or under the City
Resolutions or the City Documents, have been obtained and are in full force and effect.
(g) The City shall not supplement or amend the Official Statement or cause the Official
Statement to be supplemented or amended without the prior written consent of the Underwriter, which
consent shall not be unreasonably withheld. Until the date which is twenty-five (25) days after the
“end of the underwriting period” (as hereinafter defined), if any event shall occur of which the City is
aware, as a result of which it may be necessary to supplement the Official Statement in order to make
the statements in the Official Statement, in light of the circumstances existing at such time, not
misleading, the City shall forthwith notify the Underwriter of any such event of which it has knowledge
and shall cooperate fully in furnishing any information available to it for any supplement to the Official
Statement necessary, in the Underwriter’s opinion, so that the statements therein as so supplemented
will not be misleading in light of the circumstances existing at such time and the City shall promptly
furnish to the Underwriter a reasonable number of copies of such supplement. If any such amendment
or supplement of the Official Statement shall occur afte r the Closing Date, the City also shall furnish,
or cause to be furnished, such additional legal opinions, certificates, instruments and other documents
as the Underwriter may reasonably deem necessary to evidence the truth and accuracy of such
5
amendment or supplement to the Official Statement. As used herein, the term “end of the underwriting
period” means the later of such time as (i) the City delivers the Bonds to the Underwriter, or (ii) the
Underwriter does not retain, directly or as a member of an underwriting syndicate, an unsold balance
of the Bonds for sale to the public. Unless the Underwriter gives notice to the contrary, the “end of
the underwriting period” shall be deemed to be the Closing Date. Any notice delivered pursuant to
this provision shall be written notice delivered to the City at or prior to the Closing Date, and shall
specify a date (other than the Closing Date) to be deemed the “end of the underwriting period.”
(h) The Indenture creates a valid pledge of the unpaid Reassessments and t he moneys in
the Redemption Fund and the Reserve Fund (and the accounts therein) established pursuant to the
Indenture, including the investments thereof, subject in all cases to the provisions of the Indenture
permitting the application thereof for the purposes and on the terms and conditions set forth therein.
Until such time as moneys have been set aside in an amount sufficient to pay all then outstanding
Bonds at maturity or to the date of redemption if redeemed prior to maturity, plus unpaid interest
thereon to maturity or to the date of redemption if redeemed prior to maturity, and premium, if any,
the City will faithfully perform and abide by all of the covenants, undertakings and provisions
contained in the Indenture.
(i) Except as disclosed in the Official Statement, no action, suit, proceeding, inquiry or
investigation, at law or in equity, before or by any court, regulatory agency, public board or body with
respect to which the City has been served with process or has received pleadings or equivalent
documents is pending or, to the best knowledge of the City, threatened (i) which would materially
adversely affect the ability of the City to perform its obligations under the City Resolutions or the City
Documents, or (ii) seeking to restrain or to enjoin the issuance, sale or delivery of the Bonds, the
application of the proceeds thereof in accordance with the Indenture, or the collection or application
of the Reassessments pledged or to be pledged to pay the principal of and interest on the Bonds, or the
pledge thereof, or in any way contesting or affecting the validity or enforceability of the City
Resolutions, the City Documents, or any action contemplated by any of said documents, or (iii) in any
way contesting the completeness or accuracy of the Preli minary Official Statement or the powers or
authority of the City with respect to the Bonds, the City Resolutions, the City Documents, or any action
of the City contemplated by any of said documents; nor is there any action pending with respect to
which the City has been served with process or has received pleadings or equivalent documents or, to
the best knowledge of the City, threatened against the City which alleges that interest on the Bonds is
not exempt from California personal income taxation.
(j) The City will furnish such information, execute such instruments and take such other
action in cooperation with the Underwriter as the Underwriter may reasonably request in order for the
Underwriter to qualify the Bonds for offer and sale under the “Blue Sky” or other securities laws and
regulations of such states and other jurisdictions of the United States as the Underwriter may designate;
provided, however, the City shall not be required to register as a dealer or a broker of securities or to
consent to service of process in connection with any blue sky filing.
(k) Any certificate signed by any official of the City authorized by the City Council to do
so shall be deemed a representation and warranty to the Underwriter as to the statements made therein.
(l) The City will apply the proceeds of the Bonds in accordance with the Indenture and as
described in the Official Statement.
6
(m) The information contained in the Preliminary Official Statement (other than in
Appendix E as to which no view is expressed) was as of the date thereof, and the information contained
in the Official Statement (other than in Appendix E, as to which no view is expressed), is as of its date
and shall be on the Closing Date, true and correct in all material respects and such information does
not and shall not contain any untrue or misleading statement of a material fact or omit to state any
material fact necessary to make the statements therein, in light of the circumstances under which they
were made, not misleading.
(n) The Preliminary Official Statement heretofore delivered to the Underwriter has been
deemed final by the City as of its date, except for the omission of such information as is permitted to
be omitted in accordance with paragraph (b)(1) of Rule 15c2-12. The City hereby covenants and
agrees that, within seven (7) business days from the date hereof, or, if sooner, upon reasonable written
notice from the Underwriter, within sufficient time to accompany any confirmation requesting payment
for Bonds from any customer of the Underwriter, the City shall cause a final printed form of the Official
Statement to be delivered to the Underwriter in a quantity mutually agreed upon by the Underwriter
and the City so that the Underwriter may comply with paragraph (b)(4) of Rule 15c2-12 and Rules G-
12, G-15, G-32 and G-36 of the MSRB.
(o) Except as disclosed in the Official Statement, the City and any of its affiliated agencies
have not failed to comply in all respects with any previous undertakings with regard to Rule 15c2-12
to provide annual reports or notices of enumerated events in the last five years.
(p) The City shall not amend, terminate, repeal or rescind, and will not agree to any
amendment, termination, repealing or rescission of any of the City Resolutions or the City Documents
without the prior written consent of the Underwriter prior to the Closing Date.
(q) The City shall not voluntarily undertake any course of action inconsistent with
satisfaction of the requirements applicable to the City as set forth in this Purchase Agreement.
(r) The City shall not knowingly take or omit to take any action that, under existing law,
may adversely affect the exemption from personal income taxation of the State.
5. Conditions to the Obligations of the Underwriter. The obligations of the
Underwriter to accept delivery of and pay for the Bonds on the Closing Date shall be subject, at the
option of the Underwriter, to the accuracy in all material respects of the representations and warranties
on the part of the City contained herein, as of the date hereof and as of the Closing Date, to the accuracy
in all material respects of the statements of the officers and other officials of the City made in any
certificates or other documents furnished pursuant to the provisions hereof, to the performance by the
City of its obligations to be performed hereunder at or prior to the Closing Date and to the following
additional conditions:
(a) At the Closing Date, the City Resolutions and the City Documents shall be in full force
and effect, and shall not have been amended, modified or supplemented, except as may have been
agreed to in writing by the Underwriter, and there shall have been taken in connection therewith, with
the issuance of the Bonds and with the transactions contemplated thereby and by this Purchase
Agreement, all such actions as, in the opinion of Stradling Yocca Carlson & Rauth, a Professional
Corporation (“Bond Counsel”), shall be necessary and appropriate;
7
(b) The information contained in the Official Statement will, as of the Closing Date and as
of the date of any supplement or amendment thereto pursuant to Section 4(m) hereof, be true, correct
and complete in all material respects and will not, as of the Closing Date or as of the date of any
supplement or amendment thereto pursuant to Section 4(m) hereof, contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading;
(c) Between the date hereof and the Closing Date, the market price or marketability of the
Bonds at the initial offering prices set forth in the Official Statement or the ability of the Underwriter
to enforce contracts for the sales of the Bonds shall not have been materially adversely affected, in the
reasonable judgment of the Underwriter (evidenced by a written notice to the City terminating the
obligation of the Underwriter to accept delivery of and pay for the Bonds), by reason of any of the
following:
(1) legislation introduced in or enacted (or resolution passed) by the Congress of
the United States of America or recommended to the Congress by the President of the United States,
the Department of the Treasury, the Internal Revenue Service, or any member of Congress, or
favorably reported for passage to either House of Congress by any committee of such House to which
such legislation had been referred for consideration or a decision rendered by a court established under
Article III of the Constitution of the United States of America or by the Tax Court of the United States
of America, or an order, ruling, regulation (final, temporary or proposed), press release or other form
of notice issued or made by or on behalf of the Treasury Department or the Internal Revenue Service
of the United States of America, with the purpose or effect, directly or indirectly, of imposing federal
income taxation upon the interest that would be received by the holders of the Bonds beyond the extent
to which such interest is subject to taxation as of the date hereof;
(2) legislation introduced in or enacted (or resolution passed) by the Congress of
the United States of America, or an order, decree or injunction issued by any court of competent
jurisdiction, or an order, ruling, regulation (final, temporary or proposed), press release or other form
of notice issued or made by or on behalf of the Securities and Exchange Commission, or any other
governmental agency having jurisdiction of the subject matter, to the effect that obligations of the
general character of the Bonds, or the Bonds, including any or all underlying arrangements, are not
exempt from registration under or other requirements of the Securities Act of 1933, as amended, or
that the Indenture is not exempt from qualification under or other requirements of the Trust Indenture
Act of 1939, as amended, or that the issuance, offering or sale of obligations of the general character
of the Bonds, or of the Bonds, including any or all underlying arrangements, as contemplated hereby
or by the Official Statement is or would be in violation of the federal securities laws, rules or
regulations as amended and then in effect;
(3) any amendment to the federal or California Constitution or action by any
federal or California court, legislative body, regulatory body or other aut hority materially adversely
affecting the tax status of the City, its property, income, securities (or interest thereon), the validity or
enforceability of the Reassessments or the ability of the City to refund the Prior Bonds as contemplated
by the City Resolutions and the City Documents;
(4) any event occurring, or information becoming known, which, in the judgment
of the Underwriter, makes untrue in any material respect any statement or information contained in the
Preliminary Official Statement or the Offi cial Statement, or results in the Preliminary Official
Statement or the Official Statement containing any untrue statement of a material fact or omitting to
8
state a material fact required to be stated therein or necessary to make the statements therein, in light
of the circumstances under which they were made, not misleading and (x ) the City refuses to permit
the Official Statement to be supplemented to supply such statement or information or (y) the effect of
any such supplement would be to materially adve rsely affect the market price or marketability of the
Bonds or the ability of the Underwriter to enforce contracts for the sale of the Bonds;
(5) there shall have occurred (1) an outbreak or escalation of hostilities or the
declaration by the United States of a national emergency or war or (2) any other calamity or crisis in
the financial markets of the United States or elsewhere or the escalation of such calamity or crisis;
(6) a decision by a court of the United States shall be rendered, or a stop order,
release, regulation or no-action letter by or on behalf of the SEC or any other governmental agency
having jurisdiction of the subject matter shall have been issued or made, to the effect that the issuance,
offering or sale of the Bonds, including the underlying obligations as contemplated by this Purchase
Agreement or by the Official Statement, or any document relating to the issuance, offering or sale of
the Securities, is or would be in violation of any provision of the federal securities laws at the Closing
Date, including the Securities Act, the Exchange Act and the Trust Indenture Act;
(7) the declaration of a general banking moratorium by federal, State of New York
or State of California authorities, or the general suspension of trading on any national securitie s
exchange or the fixing and maintaining in force of minimum or maximum prices for trading, or
maximum ranges for prices for securities shall have been required and be in force on the New York
Stock Exchange or other national securities exchange, whether by virtue of determination by that
exchange or by order of the Securities and Exchange Commission (the “SEC”) or any other
governmental authority having jurisdiction;
(8) a material disruption in securities settlement, payment or clearance services
affecting the Bonds shall have occurred;
(9) there shall have been any material adverse change in the affairs of the City;
(10) there shall be established any new restriction on transactions in securities
materially affecting the free market for securities (including the imposition of any limitation on interest
rates) or the extension of credit by, or a change to the net capital requirements of, underwriters
established by the New York Stock Exchange, the SEC, any other federal or State agency or the
Congress of the United States, or by Executive Order;
(11) any proceeding shall have been commenced or be threatened in writing by the
SEC against the City;
(12) a stop order, release, regulation, or no-action letter by or on behalf of the SEC
or any other governmental agency having jurisdiction of the subject matter shall have been issued or
made to the effect that the issuance, offering, or sale of the Bonds, including all the underlying
obligations as contemplated hereby or by the Official Statement, or any document relating to the
issuance, offering or sale of the Bonds is or would be in violation of any provision of federal securities
laws at the Closing Date;
9
(d) On the Closing Date, the Underwriter shall have received counterpart originals or
certified copies of the following docume nts, in either printed or electronic format, in each case
satisfactory in form and substance to the Underwriter:
(1) The City Resolutions and the City Documents, together with a certificate dated
as of the Closing Date of the City Clerk to the effect that each City Resolution is a true, correct and
complete copy of the one duly adopted by the City Council;
(2) The Official Statement;
(3) An unqualified approving opinion of Bond Counsel, dated the Closing Date
and addressed to the City, in the form attached to the Preliminary Official Statement as Appendix D,
and an unqualified letter of such counsel, dated the Closing Date and addressed to the Underwriter and
the Trustee, to the effect that such approving opinion may be relied upon by the Underwriter and the
Trustee to the same extent as if such opinion were addressed to them;
(4) A supplemental opinion of Bond Counsel, dated the Closing Date and
addressed to the Underwriter, to the effect that (i) the other City Documents have been duly authorized,
executed and delivered by the City, and, assuming such agreements constitute valid and binding
obligations of the respective other parties thereto, constitute the legally valid and binding agreements
of the City enforceable in accordance with their terms, except as enforcement may be limited by
bankruptcy, moratorium, insolvency or other laws affecting creditor’s rights or remedies and by
general principles of equity (regardless of whether such enforceability is considered in equity or at
law); (ii) the Bonds are not subject to the registration requirements of the Securities Act of 1933, as
amended, and the Indenture is exempt from qualification under the Trust Indenture Act of 1939, as
amended; (iii) the information contained in the Preliminary Official Statement and the Official
Statement on the cover and under the captions “INTRODUCTION,” “REFUNDING PLAN,” “THE
BONDS,” “SECURITY FOR THE BONDS,” “THE REASSESSMENT DISTRICT,”
“CONTINUING DISCLOSURE,” “TAX MATTERS,” “LEGAL MATTERS” and Appendices C, D,
and F thereof (except that no opinion or belief need be expressed as to any financial or statistical data
contained in the Preliminary Official Statement and the Official Statement), insofar as it purports to
summarize or replicate certain provisions of the Act, the Bonds, the Continuing Disclosure Certificate,
the Escrow Agreement and the Indenture and the exemption from State of California personal income
taxes of interest on the Bonds present a fair and accurate summary of such provisions; (iv ) the
Reassessment District has been validl y formed, and the Reassessments have been duly and validly
authorized in accordance with the provisions of the Act and, except as the same may be limited by
bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or other laws
relating to or affecting generally the enforcement of creditors’ rights, by equitable principles and by
the exercise of judicial discretion in appropriate cases, a lien to secure payment of the Reassessments
has been imposed on all the parcels in the Reassessment District specified in the Preliminary Official
Statement and the Official Statement, (v) the Prior Bonds have been legally defeased in accordance
with its indenture or fiscal agent agreement pursuant to which the Prior Bonds were issued (the “Prior
Indenture”), and (except as described in the Preliminary Official Statement and the Official Statement)
the owners of the Prior Bonds have ceased to be entitled to the pledge of assessments, and all covenants,
agreements and other obligations of the City to the owners of the Prior Bonds under the Prior Indenture
have ceased, terminated and become void and have been discharged and satisfied; and (vi ) the
investment of the moneys deposited in the Escrow Fund under the Escrow Agreement will not
adversely affect the exclusion from gross income of interest on the Prior Bonds for purposes of federal
income taxation;
10
(5) The letter of Stradling Yocca Carlson & Rauth, a Professional Corporation , as
Disclosure Counsel, dated the Closing Date and addressed to the City and to the Underwriter, to the
effect that, without having undertaken to determine independently the accuracy or completeness of the
statements contained in the Official Statement, but on the basis of their participation in conferences
with representatives of the City, the Reassessment Engineer and others, and their examination of
certain documents, nothing has come to their attention which has led them to believe that the
Preliminary Official Statement as of its date and the Official Statement as of its da te and as of the
Closing Date contained or contains any untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading (except that no opinion or belief need be
expressed as to any financial statements or other financial, statistical or engineering data or forecasts,
numbers, charts, estimates, projections, assumptions, or expressions of opinion, any information about
valuation, appraisals, absorption, archeological or environmental matters, or any information with
respect to the City’s prior compliance with continuing disclosure undertakings under the Rule or about
DTC or the book-entry-only system);
(6) An opinion, dated the Closing Date and addressed to the Underwriter, of Kutak
Rock LLP, counsel to the Underwriter, in form and substance reasonably satisfactory to the
Underwriter;
(7) A certificate, dated the Closing Date and signed by an authorized officer of the
City, ratifying the use and distribution by the Underwriter of the Preliminary Official Statement and
the Official Statement in connection with the offering and sale of the Bonds; and certifying that (i ) the
representations and warranties of the City contained in Section 4 hereof are true and correct in all
material respects on and as of the Closing Date with the same effect as if made on the Closing Date;
(ii) to the best of his or her knowledge, no event has occurred since the date of the Official Stat ement
affecting the matters contained therein which should be disclosed in the Official Statement for the
purposes for which it is to be used in order to make the statements and information contained in the
Official Statement not misleading in any material respect, and the Bonds, the City Resolutions and the
City Documents conform as to form and tenor to the descriptions thereof contained in the Official
Statement; (iii) the City has complied with all the agreements and satisfied all the conditions on its part
to be performed or satisfied under the City Resolutions and the City Documents at or prior to the
Closing Date; and (iv) the representations and warranties of the City contained in this Purchase
Agreement are true and correct in all material respects o n and as of the Closing Date, with the same
effect as if made on the Closing Date;
(8) An opinion, dated the Closing Date and addressed to the Underwriter and the
City, of the City Attorney, to the effect that (i) to the best of her knowledge and except as disclosed in
the Official Statement, there is no litigation, action, suit, proceeding or investigation at law or in equity
as to which the City is or would be a party, before or by any court, governmental agency or body,
pending and notice of which has been served on and received by the City or, to the best of her
knowledge, threatened against the City, which would materially adversely affect the ability of the City
to perform its obligations under the City Resolutions or the City D ocuments, the issuance, sale and
delivery of the Bonds or exclusion from gross income for State of California personal income taxes of
interest on the Bonds, or the application of the proceeds thereof in accordance with the Indenture, or
the collection or application of the Reassessments to pay the principal of and interest on the Bonds, or
which in any way contests or affects the validity or enforceability of the Bonds, the City Resolutions
or the City Documents or the accuracy of the Official Statement, o r any action of the City contemplated
by any of said documents; (ii) the City is a municipal corporation of the State, duly organized and
11
validly existing pursuant to the Constitution and laws of the State, and the City has full legal right,
power and authority to issue the Bonds and to perform all of its obligations under the City Resolutions
and the City Documents; (iv) the City Council duly and validly adopted the City Resolutions at
meetings of the City Council which were called and held pursuant to law and with all public notice
required by law and at which a quorum was present and acting throughout, and the City Resolutions
are now in full force and effect and have not been amended; (v) the City has duly authorized, executed
and delivered the City Documents and the Bonds and has duly authorized the preparation and delivery
of the Official Statement, (vi) the City Documents constitute legal, valid and binding agreements of
the City, enforceable in accordance with their respective terms, subject to bankru ptcy, insolvency,
reorganization, moratorium and other laws affecting the enforcement of creditors’ rights in general and
to the application of equitable principles if equitable remedies are sought and to the limitations on legal
remedies against public agencies in the State of California; (vii) the Reassessment District has been
validly formed;
(9) An opinion of counsel to the Trustee, dated the date of the Closing, addressed
to the City and the Underwriter, to the effect that: (A) the Trustee is a nation al banking association
duly organized and validly existing under the laws of the jurisdiction of its organization and has the
corporate power to execute and deliver the Indenture, and any other documentation relating to the
Indenture, and to perform its obligations under the Indenture; (B) the execution and delivery by the
Trustee of the Indenture and any other documentation relating to the Indenture, and its performance of
its obligations under the Indenture, have been and are as of the date hereof duly authorized by all
necessary corporate action; (C) the Trustee is duly authorized to accept the obligations created by the
Indenture, and to authenticate the Bonds pursuant to the terms of the Indenture (D) no approval,
authorization or other action by, or filing with, any governmental body or regulatory authority (which
has not been obtained) is required in connection with the due execution, delivery and performance by
the Trustee of the Indenture; and (E) the Indenture has been duly executed and delivered by the Trustee
and constitutes the valid and legally binding obligations of the Trustee enforceable against it in
accordance with their terms except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors' rights
generally and by general principles of equity (regardless of whether enforcement is sought as a
proceeding in equity or at law).
(10) A certificate of Spicer Consulting Group, LLC, Reassessment Engineer, dated
the date of the Closing, addressed to the City and the Underwriter, to the effect that (i) based upon the
information provided to such firm as the Reassessment Engineer to the City in the course of its
participation in the preparation of the Official Statement and without having undertaken to determine
independently the accuracy or completeness of the statements contained in the Official Statement
relating to information not furnished by it, said firm has no reason to believe that the Official State ment
as of the date of the Official Statement omitted, or as of the date of Closing omits, to state any material
fact required to be stated therein or necessary to make the statements therein relating to the
Reassessment District, in light of the circumsta nces under which they were made, not misleading, and
(ii) data provided by such firm and presented in the Official Statement, including the information
presented in Tables 1 through 7 of the Official Statement, are true, correct and accurate;
(11) A certificate of the Escrow Agent, dated the Closing Date, addressed to the
City and the Underwriter to the following effect: (i) the Escrow Agent is duly organized and existing
as a national banking association in good standing under the laws of the United States, ha ving the full
power and authority to accept and perform its duties under the Escrow Agreement; (ii) the Escrow
Agreement has been duly authorized, executed and delivered by the Escrow Agent and constitutes the
12
legal, valid and binding obligations of the Escrow Agent enforceable in accordance with its terms,
except as enforcement thereof may be limited by bankruptcy, insolvency or other laws affecting
enforcement of creditors rights, or by the application of equitable principles if equitable remedies are
sought; (iii) the Escrow Agent is duly authorized to accept the obligations created by the Escrow
Agreement; and (iv) no consent, approval, authorization or other action by any governmental or
regulatory authority having jurisdiction over the Escrow Agent that has not been obtained is or will be
required for the consummation by the Escrow Agent of the other transactions contemplated to be
performed by the Escrow Agent in connection with the acceptance and performance of the obligations
created by the Escrow Agreement;
(12) A report from Lumesis Inc., reasonably satisfactory in form and substance to
the Underwriter, summarizing an independent review by such firm of compliance by the City with
their respective continuing disclosure obligations pursuant to Rule15c2-12 and setting forth a summary
of all such required filings and notices in each of the last five fiscal years and confirming compliance
or noting any deficiencies or omissions, as applicable;
(13) A verification report, dated the Closing Date, from Causey, Demgen & Moore
P.C., certified public accountants, to the effect that amounts on deposit under the Escrow Agreement
will be sufficient to provide for the defeasance and redemption on September 2, 2022 of the Prior
Bonds and the Authority’s Local Agency Revenue Refunding Bonds (Assessment District No. 93-1),
2012 Series B;
(14) Evidence that notice of the defeasance of the Prior Bonds and termination of
disclosure obligations relating to the Prior Bonds has been prepared for filing with the EMMA system
of the MSRB;
(15) A letter from S&P Global Ratings, a business unit of Standard & Poor’s
Financial Services LLC to the effect that the Bonds have been assigned a rating of not less than “___”,
which rating shall be in effect as of the Closing Date; and
(16) Such additional legal opinions, certificates, instruments and other documents
as the Underwriter may reasonably request to evidence the truth and accuracy, as of the date hereof
and as of the Closing Date, of the statements and information contained in the Preliminary Official
Statement and the Official Statement, of the City’s representations and warranties contained herein a nd
the due performance or satisfaction by the City at or prior to the Closing of all agreements then to be
performed and all conditions then to be satisfied by the City in connection with the transactions
contemplated hereby and by the Official Statement.
If the City shall be unable to satisfy the conditions to the obligations of the Underwriter to
purchase, accept delivery of and pay for the Bonds contained in this Purchase Agreement, or if the
obligations of the Underwriter to purchase, accept delivery of and pay for the Bonds shall be terminated
for any reason permitted by this Purchase Agreement, this Purchase Agreement shall terminate and
neither the Underwriter nor the City shall be under any further obligation hereunder, except that the
respective obligations of the City and the Underwriter set forth in Section 7 and Section 8 hereof shall
continue in full force and effect.
13
6. Conditions of the City’s Obligations. The City’s obligations hereunder are subject
to the Underwriter’s performance of its obligations hereunder, and are also subject to the following
conditions:
(a) As of the Closing Date, no litigation shall be pending or, to the knowledge of the duly
authorized officer of the City executing the certificate referred to in Section 5(d)(7) hereof, threatened,
to restrain or enjoin the issuance or sale of the Bonds or in any way affecting any authority for or the
validity of the Bonds, the City Resolutions, the City Documents or the existence or powers of the City;
and
(b) As of the Closing Date, the City shall receive the approving opinion of Bond Counsel
referred to in Section 5(d)(3) hereof, dated as of the Closing Date.
7. Expenses. Whether or not the Bonds are delivered to the Underwriter as set forth
herein:
(a) The Underwriter shall be under no obligation to pay, and the City shall pay or cause to
be paid (out of any legally available funds of the City) all expenses incident to the performance of the
City’s obligations hereunder, including, but not limited to, the cost of print ing, engraving and
delivering the Bonds to DTC, the cost of preparation, printing, distribution and delivery of the
Indenture, the Preliminary Official Statement, the Official Statement and all other agreements and
documents contemplated hereby (and drafts of any thereof) in such reasonable quantities as requested
by the Underwriter (excluding the fees and disbursements of the Underwriter’s counsel); the reasonable
cost of confirming that the Reassessment District has timely filed materially complete disclosure
reports in conformance with the Reassessment District’s continuing disclosure undertakings pursuant
to Rule 15c2-12 in each of the last five fiscal years; and the fees and disbursements of the Trustee and
Escrow Agent for the Bonds and the refunding of the Prior Bonds and Bond Counsel, Disclosure
Counsel, and any accountants, engineers or any other experts or consultants the City has retained in
connection with the Bonds; and for expenses (included in the expense component of the Underwriter’s
discount) incurred by the Underwriter on behalf of the City’s employees which are incidental to
implementing this Purchase Agreement, including, but not limited to, meals, transportation, lodging,
and entertainment of those employees; and
(b) The City shall be under no obligation to pay, and the Underwriter shall pay, any fees
of the California Debt and Investment Advisory Commission, the cost of obtaining CUSIP numbers,
the cost of preparation of any “blue sky” or legal investment memoranda and this Purchase Agreement;
expenses to qualify the Bonds for sale under any “blue sky” or other state securities laws; and all other
expenses incurred by the Underwriter in connection with its public offering and distribution of the
Bonds (except those specifically enumerated in paragraph (a) of this section), including the fees and
disbursements of its counsel and any advertising expenses.
8. Notices. Any notice or other communication to be given to the City under this
Purchase Agreement may be given by delivering the same in writing to the City at 130 South Main
Street, Lake Elsinore, California 92530, Attention: Assistant City Manager; and any notice or other
communication to be given to the Underwriter under this Purchase Agreement may be given by
delivering the same in writing to Stifel, Nicolaus & Company, Incorporated, 515 South Figueroa Street,
Suite 1800, Los Angeles, California 90071, Attention: Public Finance Department.
14
9. Parties in Interest. This Purchase Agreement is made solely for the benefit of the
City and the Underwriter (including their successors or assigns), and no other person shall acquire or
have any right hereunder or by virtue hereof.
10. Survival of Representations and Warranties. The representations and warranties of
the City set forth in or made pursuant to this Purchase Agreement shall not be deem ed to have been
discharged, satisfied or otherwise rendered void by reason of the Closing or termination of this
Purchase Agreement and regardless of any investigations made by or on behalf of the Underwriter (or
statements as to the results of such investigations) concerning such representations and statements of
the City and regardless of delivery of and payment for the Bonds.
11. Effective. This Purchase Agreement shall become effective and binding upon the
respective parties hereto upon the execution of the acceptance hereof by the City and shall be valid and
enforceable as of the time of such acceptance.
12. No Prior Agreements. This Purchase Agreement supersedes and replaces all prior
negotiations, agreements and understandings between the parties hereto in relation to the sale of Bonds
for the City.
13. Governing Law. This Purchase Agreement shall be governed by the laws of the State
of California applicable to contracts made and performed in California.
S-1
14. Counterparts. This Purchase Agreement may be executed simultaneously in several
counterparts, each of which shall be an original and all of which shall constitute one and the same
instrument.
Very truly yours,
STIFEL, NICOLAUS & COMPANY,
INCORPORATED
By:
Authorized Officer
The foregoing is hereby agreed to and accepted as of
the date first above written:
CITY OF LAKE ELSINORE
By:
Authorized Officer
Time of Execution: _____________ p.m. California
time
A-1
EXHIBIT A
MATURITY SCHEDULE
$_______
CITY OF LAKE ELSINORE
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING BONDS
(FEDERALLY TAXABLE)
Maturity Date
(September 2)
Principal
Amount
Interest
Rate Yield
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
20__T
(T) Term Bond.
(C) Priced to optional call at [par] on September 2, 20__.
PURCHASE PRICE
The purchase price of the Bonds shall be $______, which is the principal amount thereof
($______) and less Underwriter’s discount of $______.
Stradling Yocca Carlson & Rauth
Draft of 4/6/21
A-1
4840-0231-0619v4/022042-0037
CONTINUING DISCLOSURE CERTIFICATE
THIS CONTINUING DISCLOSURE CERTIFICATE (this “Disclosure Certificate”) dated as
of May 1, 2021 is executed and delivered by the City of Lake Elsinore (the “City”) in connection with
the issuance and delivery by the City of its $__________ City of Lake Elsinore Reassessment District
No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds (Federally Taxable) (the “Bonds”).
The Bonds are being issued pursuant to a Resolution of Issuance adopted on April 13, 2021, by the
City Council of the City, and the Indenture, dated as of May 1, 2021 (the “Indenture”), by and between
the City and Wilmington Trust, National Association, as trustee. The City covenants as follows:
Section 1. Purpose of the Disclosure Certificate. This Disclosure Certificate is being
executed and delivered by the City for the benefit of the Owners and Beneficial Owners of the Bonds
and in order to assist the Participating Underwriter in complying with the Rule.
Section 2. Definitions. In addition to the definitions set forth in the Indenture, which
apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this
Section, the following capitalized terms shall have the following meanings:
“Annual Report” shall mean any Annual Report provided by the City pursuant to, and as
described in, Sections 3 and 4 of this Disclosure Certificate.
“Beneficial Owner” shall mean any person which (a) has the power, directly or indirectly, to
vote or consent with respect to, or to dispose of ownership of, any Bonds (including persons holding
Bonds through nominees, depositories or other intermediaries), or (b) is treated as the owner of any
Bonds for federal income purposes.
“City” shall mean the City of Lake Elsinore, County of Riverside, California.
“Disclosure Representative” shall mean the City Manager of the City, or his or her designee,
or such other officer or employee as the City shall designate in writing to the Dissemination Agent
from time to time.
“Dissemination Agent” shall mean, initially, Spicer Consulting Group, LLC, or any successor
Dissemination Agent designated in writing by the City and which has filed with the then current
Dissemination Agent a written acceptance of such designation.
“EMMA” shall mean the Electronic Municipal Market Access System of the Municipal
Securities Rulemaking Board, which can be found at www.emma.msrb.org, or any other repository of
disclosure information that may be designated by the Securities and Exchange Commission in the
future system of the MSRB.
“Financial Obligation” means a (i) debt obligation; (ii) derivative instrument entered into in
connection with, or pledged as security or a source of payment for, an existing or planned debt
obligation; or (iii) guarantee of (i) or (ii). The term financial obligation shall not include municipal
securities as to which a final official statement has been provided to the MSRB consistent with the
Rule.
“Listed Events” shall mean any of the events listed in Section 5 of this Disclosure Certificate.
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4840-0231-0619v4/022042-0037
“MSRB” shall mean the Municipal Securities Rulemaking Board or any other entity designated
or authorized by the Securities and Exchange Commission to receive reports pursuant to the Rule.
Until otherwise designated by the MSRB or the Securities and Exchange Commission, filings with the
MSRB are to be made through the Electronic Municipal Market Access (EMMA) website of the
MSRB, currently located at http://emma.msrb.org.
“Official Statement” shall mean that certain Official Statement for the Bonds dated May __,
2021.
“Owners” shall mean the registered owners of the Bonds as set forth in the registration books
maintained by the Trustee.
“Participating Underwriter” shall mean Stifel, Nicolaus & Company, Incorporated.
“Rule” shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission
under the Securities Exchange Act of 1934, as the same may be amended from time to time.
“State” shall mean the State of California.
“Trustee” shall mean Wilmington Trust, National Association or such other entity appointed
by the City pursuant to the Indenture to act as the trustee under the Indenture.
Section 3. Provision of Annual Reports.
(a) Not later than February 15 of each year commencing February 15, 2022, the City shall,
or shall cause the Dissemination Agent to provide to EMMA and the Participating Underwriter an
Annual Report which is consistent with the requirements of Section 4 of this Disclosure Certificate. If
the Dissemination Agent is other than the City, then not later than 15 business days prior to the date
referred to in the prior sentence hereof, the City shall provide the Annual Report (in a form suitable for
filing with EMMA) to the Dissemination Agent. The Annual Report may be submitted as a single
document or as separate documents comprising a package, and may include by reference other
information as provided in Section 4 of this Disclosure Certificate; provided that the audited financial
statements of the City, if any exist, may be submitted separately from and later than the balance of the
Annual Report if they are not available by the date required above for the filing of the Annual Report.
The Official Statement and the City’s audited financial statements, if any are prepared, will serve as
the first Annual Report.
(b) In the event that the Dissemination Agent is an entity other than the City, then the
provisions of this Section 3(b) shall apply. Not later than fifteen (15) Business Days prior to the date
specified in subsection (a) for providing the Annual Report, the City shall provide the Annual Report
to the Dissemination Agent. If by fifteen (15) Business Days prior to the due date for an Annual Report
the Dissemination Agent has not received a copy of the Annual Report, the Dissemination Agent shall
contact the City to determine if the City will be filing the Annual Report in compliance with subsection
(a). The City shall provide a written certification with each Annual Report furnished to the
Dissemination Agent to the effect that such Annual Report constitutes the Annu al Report required to
be furnished by it hereunder. The Dissemination Agent may conclusively rely upon such certification
of the City and shall have no duty or obligation to review such Annual Report.
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4840-0231-0619v4/022042-0037
(c) If the Dissemination Agent is other than the City and if the Dissemination Agent is
unable to verify that an Annual Report has been provided to EMMA by the date required in subsection
(a), the Dissemination Agent shall send, in a timely manner, a notice to EMMA, in the form required
by EMMA. If the City acts as its own Dissemination Agent, it shall file a notice with EMMA no later
than the date specified in subsection (a) for filing an Annual Report if the City fails to file the Annual
Report by that date.
(d) If the Dissemination Agent is other than the City, the Dissemination Agent shall:
(i) determine each year prior to the date for providing the Annual Report the name
and address of the repository if other than the MSRB through EMMA; and
(ii) promptly after receipt of the Annual Report, file a report with the City
certifying that the Annual Report has been provided to EMMA and the date it was provided.
(e) Notwithstanding any other provision of this Disclosure Certificate, all filings shall be
made in accordance with the MSRB’s EMMA system or in another manner approved under the Rule.
Section 4. Content of Annual Reports. The City’s Annual Report shall contain or include
by reference the following:
(a) Financial Statements. The audited financial statements of the City for the prior fiscal
year, if any have been prepared and which, if prepared, shall be prepared in accordance with generally
accepted accounting principles as promulgated to apply to governmental entities from time to time by
the Governmental Accounting Standards Board. If the City’s audited financial statements, if any are
prepared, are not available by the time the Annual Report is required to be filed pursuant to
Section 3(a), the Annual Report shall contain unaudited financial statements, and the audited financial
statements shall be filed in the same manner as the Annual Report when they become available.
(b) Financial and Operating Data. The Annual Report shall contain or incorporate by
reference the following information:
(i) Principal amount of Bonds outstanding;
(ii) Balance in the Prepayment Account of Redemption Fund;
(ii) Balance in the Redemption Fund;
(iv) Balance in the Reserve Fund and a statement of the Reserve Requirement;
(v) Information in Table ___ of the Official Statement for the Bonds regarding the
annual special assessment installments, amount collected, delinquent amount and percent delinquent
for the most recent fiscal year and the amount and percent remaining delinquent for any p rior fiscal
year; and
(vi) Status of foreclosure proceedings and summary of results of foreclosure sales,
if available.
(c) Any or all of the items listed in (a) or (b) above may be included by specific reference
to other documents, including official statements of debt issues of the City or related public entities,
4
4840-0231-0619v4/022042-0037
which have been submitted to EMMA or the Securities and Exchange Commission. If the document
included by reference is a final official statement, it must be available from the MSRB through EMM A.
The City shall clearly identify each such other document so included by reference.
Section 5. Reporting of Significant Events.
(a) Pursuant to the provisions of this Section 5, the City shall give, or cause the
Dissemination Agent to give, notice to EMMA in a timely manner not in excess of ten (10) business
days after the occurrence of any of the following events with respect to the Bonds:
1. principal and interest payment delinquencies;
2. unscheduled draws on debt service reserves reflecting financial difficulties;
3. unscheduled draws on credit enhancements reflecting financial difficulties;
4. substitution of credit or liquidity providers, or their failure to perform;
5. adverse tax opinions or the issuance by the Internal Revenue Service of
proposed or final determinations of taxability, Notices of Proposed Issue (IRS
Form 5701-TEB) or other material notices or determinations with respect to
the tax status of the Bonds;
6. defeasances;
7. tender offers;
8. ratings changes; and
9. bankruptcy, insolvency, receivership or similar proceedings.
Note: for the purposes of the event identified in subparagraph (9), the event is
considered to occur when any of the following occur: the appointment of a receiver,
fiscal agent or similar officer for an obligated person in a proceeding under the U.S.
Bankruptcy Code or in any other proceeding under state or federal law in which a court
or governmental authority has assumed jurisdiction over substantially all of the assets
or business of the obligated person, or if such jurisdiction has been assumed by leaving
the existing governmental body and officials or officers in possession but subject to the
supervision and orders of a court or governmental authority, or the entry of an order
confirming a plan of reorganization, arrangement or liquidation by a court or
governmental authority having supervision or jurisdiction over substantially all of the
assets or business of the obligated person.
10. default, event of acceleration, termination event, modification of terms, or
other similar events under the terms of a Financial Obligation of the obligated person,
any of which reflect financial difficulties.
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(b) Additionally, the City shall give or cause the Dissemination Agent to give notice to
EMMA in a timely manner not in excess of ten (10) business days after the occurrence of any of the
following events with respect to the Bonds, if material :
1. mergers, consolidations, acquisitions, the sale of all or substantially all of the
assets of the obligated persons or their termination;
2. appointment of a successor or additional fiscal agent or the change of the name
of a fiscal agent;
3. nonpayment related defaults;
4. modifications to the rights of Bondholders;
5. bond calls;
6. release, substitution or sale of property securing repayment of the Bonds; and
7. incurrence of a Financial Obligation of the obligated person, or agreement to
covenants, events of default, remedies, priority rights, or other similar terms of
a Financial Obligation of the obligated person, any of which affect security
holders.
(c) In the event that the City’s fiscal year changes, the City shall report or shall instruct the
Dissemination Agent to report such change in the same manner and to the same parties as Listed Events
would be reported pursuant to this Section.
(d) The City hereby agrees that the undertaking set forth in this Disclosure Certificate is
the responsibility of the City, and the Dissemination Agent, if other than the City, shall not be
responsible for determining whether the City’s instructions to the Dissemination Agent under this
Section comply with the requirements of the Rule.
Section 6. Termination of Reporting Obligation. The obligations of the City and the
Dissemination Agent under this Disclosure Certificate shall terminate upon the legal defeasance, prior
redemption or payment in full of all of the Bonds. If such termination occurs prior to the final maturity
of the Bonds, the City shall give notice of such termination in the same manner as for a Listed Event
under Section 5.
Section 7. Dissemination Agent. The City may, from time to time, appoint or engage a
Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate, and
may discharge any such Dissemination Agent, with or without appointing a successor Dissemination
Agent. The Dissemination Agent, if other than the City, shall not be responsible in any manner for the
content of any notice or report prepared by the City pursuant to this Disclosure Certificate. If at any
time there is not any other designated Dissemination Agen t, the Trustee shall be the Dissemination
Agent. The initial Dissemination Agent shall be Spicer Consulting Group, LLC. The Dissemination
Agent may resign by providing (i) thirty (30) days written notice to the City and the Trustee and (ii)
upon appointment of a new Dissemination Agent hereunder.
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Section 8. Amendment; Waiver.
(a) This Disclosure Certificate may be amended, by written agreement of the parties,
without the consent of the Owners, and any provision of this Disclosure Certificate may be wa ived, if
all of the following conditions are satisfied: (1) such amendment or waiver is made in connection with
a change in circumstances that arises from a change in legal (including regulatory) requirements, a
change in law, or a change in the identity, nature or status of the City or the type of business conducted
thereby, (2) the undertakings in this Disclosure Certificate as so amended or waived would, in the
opinion of a nationally recognized bond counsel, have complied with the requirements of the R ule as
of the date of this Disclosure Certificate, after taking into account any amendments or interpretations
of the Rule, as well as any change in circumstances, and (3) the amendment or waiver either (i) is
approved by the Owners of the Bonds in the same manner as provided in the Indenture for amendments
to the Indenture with the consent of Owners or (ii) does not, in the determination of the City, materially
impair the interests of the Owners or Beneficial Owners of the Bonds.
(b) To the extent any amendment to this Disclosure Certificate results in a change in the
type of financial information or operating data provided pursuant to this Disclosure Certificate, the
first Annual Report provided thereafter shall include a narrative explanation of the reas ons for the
amendment and the impact of the change in the type of operating data or financial information being
provided.
(c) If an amendment is made to the basis on which financial statements are prepared, the
Annual Report for the year in which the change is made shall present a comparison between the
financial statements or information prepared on the basis of the new accounting principles and those
prepared on the basis of the former accounting principles. Such comparison shall include a quantitative
and, to the extent reasonably feasible, qualitative discussion of the differences in the accounting
principles and the impact of the change in the accounting principles on the presentation of the financial
information.
Section 9. Additional Information. Nothing in this Disclosure Certificate shall be deemed
to prevent the City from disseminating any other information, using the means of dissemination set
forth in this Disclosure Certificate or any other means of communication, or including any other
information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which
is required by this Disclosure Certificate. If the City chooses to include any information in any Annual
Report or notice of occurrence of a Listed Event in addition to that which is specifically required by
this Disclosure Certificate, the City shall have no obligation under this Certificate to update such
information or include it in any future Annual Report or notice of occurrence of a Listed Event.
Section 10. Default. In the event of a failure of the City or the Dissemination Agent to
comply with any provision of this Disclosure Certificate, any Owner or Beneficial Owner of the Bonds
may take such actions as may be necessary and appropriate, including seek ing mandate or specific
performance by court order, to cause the City and/or the Dissemination Agent to comply with their
respective obligations under this Disclosure Certificate. A default under this Disclosure Certificate
shall not be deemed an Event of Default under the Indenture, and the sole remedy under this Disclosure
Certificate in the event of any failure of the City or the Dissemination Agent to comply with this
Disclosure Certificate shall be an action to compel performance.
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Section 11. Duties, Immunities and Liabilities of Dissemination Agent . Where an entity
other than the City is acting as the Dissemination Agent, the Dissemination Agent shall have only such
duties as are specifically set forth in this Disclosure Certificate, and the City agrees to indemnify and
save the Dissemination Agent and its officers, directors, employees and agents, harmless against any
loss, expense and liabilities which they may incur arising out of or in the exercise or performance of
their powers and duties hereunder, including the costs and expenses (including attorneys’ fees) of
defending against any claim of liability, but excluding liabilities due to the Dissemination Agent’s
negligence or willful misconduct. Any Dissemination Agent shall be paid (i) compensation by the City
for its services provided hereunder in accordance with a schedule of fees to be mutually agreed to; and
(ii) all expenses, legal fees and advances made or incurred by the Dissemination Agent in the
performance of its duties hereunder. The Dissemination Agent shall have no duty or obligation to
review any information provided to it by the City pursuant to this Disclosure Certificate. The
obligations of the City under this Section shall survive resignation or removal of the Dissemination
Agent and payment of the Bonds. No person shall have any right to commence any action against the
Dissemination Agent seeking any remedy other than to compel specific performance of this Disclosure
Certificate. The Dissemination Agent shall not be liable under any circumstances for monetary
damages to any person for any breach under this Disclosure Certificate.
Section 12. Notices. Any notices or communications to or among any of the parties to this
Disclosure Certificate may be given as follows:
City: City of Lake Elsinore
130 South Main Street
Lake Elsinore, CA 92530
Attn: City Manager
Underwriter: Stifel, Nicolaus & Company, Incorporated
515 South Figueroa Street, Suite 1800
Los Angeles, CA 90071
Attn: Public Finance Department
Any person may, by written notice to the other persons listed above, designate a different
address or telephone number(s) to which subsequent notice or communications should be sent.
Section 13. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of
the City, the Trustee, the Dissemination Agent, the Participating Underwriter and Owners and
Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or
entity.
Section 14. Merger. Any person succeeding to all or substantially all of the Dissemination
Agent’s corporate trust business shall be the successor Dissemination Agent without the filing of any
paper or any further act.
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This Disclosure Certificate is executed as of the date and year first set forth above.
CITY OF LAKE ELSINORE
By:
Disclosure Representative
Stradling Yocca Carlson & Rauth
Draft of 4/6/21
4830-5805-8203v4/022042-0037
LAKE ELSINORE PUBLIC FINANCING AUTHORITY
LOCAL AGENCY REVENUE BONDS (ASSESSMENT DISTRICT NO. 93-1)
2012 SERIES B
ESCROW AGREEMENT
This ESCROW AGREEMENT (the “Escrow Agreement”), made and entered into as of May
1, 2021, by and among the Lake Elsinore Public Financing Authority (the “Authority”), the City of
City (the “City”), and Wilmington Trust, National Association, as escrow agent, Prior Trustee and
Prior Fiscal Agent (as such terms are defined below) (the “Escrow Agent”), a national banking
association organized and existing under the laws of the United States of America and being qualified
to accept and administer the escrow hereby created.
W I T N E S S E T H :
WHEREAS, the City has heretofore issued its City of Lake Elsinore Assessment District No.
93-1 Limited Obligation Refunding Improvement Bonds, 2012 Series A (the “Prior Assessment
District Bonds”), pursuant to the terms of that certain Fiscal Agent Agreement dated as of Nov ember
1, 2012 (the “Prior Fiscal Agent Agreement”), by and between the City and Wilmington Trust, National
Association, as fiscal agent (the “Prior Fiscal Agent”); and
WHEREAS, the Authority has heretofore issued its Lake Elsinore Public Financing Authority
Local Agency Revenue Bonds (Assessment District No. 93-1), 2012 Series B (the “Prior Authority
Bonds” and, together with the Prior Assessment District Bonds, the “Prior Bonds”) pursuant to the
terms of that certain Indenture of Trust dated as of November 1, 2012 (the “Prior Indenture”) by and
between the Authority and Wilmington Trust, National Association , as trustee (the “Prior Trustee”), a
portion of the proceeds of which were used to purchase the Prior Assessment District Bonds; and
WHEREAS, the City has determined to cause the issuance and sale of its City of Lake Elsinore
Reassessment District No. 2021-1 (Canyon Hills) Limited Obligation Refunding Bonds (Federally
Taxable) (the “Bonds”) for the purpose of providing moneys to the Escrow Agent, which amount will
be sufficient (when combined with moneys to be provided from other sources) to pay the principal and
interest due on the Prior Authority Bonds on and prior to September 2, 2022, and to redeem on
September 2, 2022 (the “Redemption Date”) the Prior Authority Bonds maturing on September 2, 2030
at a redemption price equal to the principal amount to be redeemed (the “Redemption Price”), and to
effect a simultaneous redemption of the Prior Assessment District Bonds in connection therewith; and
WHEREAS, pursuant to Section 2 of this Escrow Agreement, the City will cause a prescribed
portion of the proceeds of the Bonds, together with certain funds held by the Prior Fiscal Agent and
the Prior Trustee with respect to the Prior Bonds, to be set aside with the Escrow Agent, in order to
provide for the payment of the Redemption Price of the Prior Authority Bonds, such proceeds and
funds to be deposited in an escrow fund to be created hereunder designated as the “City of Lake
Elsinore Assessment District No. 93-1 Escrow Fund” to be maintained by the Escrow Agent (the
“Escrow Fund”) which moneys will be used to purchase securities as described on Schedule II hereto
(the “Federal Securities”), provided the principal of and the interest on which when paid will pro vide
money which, together with the moneys deposited with the Escrow Agent at the same time pursuant
to this Agreement, will be sufficient to pay when and as due the regularly scheduled principal and
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interest on the Prior Bonds through September 2, 2022, and to pay on September 2, 2022, the
Redemption Price of the Prior Bonds, and accordingly, the Prior Authority Bonds, set forth in
Schedule III hereto;
NOW, THEREFORE, the City, the Authority and the Escrow Agent hereby agree as follows:
SECTION 1. Establishment and Maintenance of Escrow Fund. The Escrow Agent agrees to
establish and maintain, until the Prior Authority Bonds have been paid in full, the Escrow Fund, and
to hold the moneys therein at all times as a special and separate escrow fund (wholly segregated fr om
all other securities, investments or moneys on deposit with the Escrow Agent). All moneys in the
Escrow Fund are hereby irrevocably pledged, subject to the provisions of Section 2 hereof, to secure
the payment when due of the Redemption Price of the Prior Authority Bonds.
SECTION 2. Funding of the Escrow Fund.
(a) The City agrees that, not later than May __, 2021 (the “Closing Date”), the City
will cause to be transferred to the Escrow Agent for deposit in the Escrow Fund:
(i) from Wilmington Trust, National Association, as trustee (the
“Trustee”) under the Indenture dated as of May 1, 2021 (the “Bond Indenture”), by and between the
City and Wilmington Trust, National Association, the amount of $_________ from the proceeds of
sale of the Bonds; and
(ii) from the Prior Fiscal Agent the amount of $______ from amounts held
in the Delinquency Management Fund under the Prior Fiscal Agent Agreement with respect to the
Prior Assessment District Bonds.
(b) The Authority agrees that, not later than the Closing Date, the Authority will
cause to be transferred to the Escrow Agent for deposit in the Escrow Fund from the Prior Trustee the
sum of $__________ from amounts held under the Reserve Account of the Revenue Fund, and
$_______ from amounts held under the Cash Flow Management Fund under the Prior Indenture with
respect to the Prior Authority Bonds.
(c) The Authority and the City hereby direct the Escrow Agent to immediately
apply $_________ of such amounts to acquire, on the Closing Date, the Federal Securities set forth in
Schedule II and to hold $____ uninvested as cash.
SECTION 3. Investment of Moneys. The Escrow Agent acknowledges receipt of the
moneys described in Section 2 and agrees immediately to invest such moneys in the Federal Securities
listed on Schedule II hereto and to deposit such Federal Securities in the Escrow Fund. The Escrow
Agent shall be entitled to rely upon the conclusion of Causey Demgen & Moore P.C. (the “Verification
Agent”), that the Federal Securities listed on Schedule II hereto ma ture and bear interest payable in
such amounts and at such times as, together with cash on deposit in the Escrow Fund, will be sufficient
to pay on and prior to September 2, 2022, the principal and interest due on the Prior Authority Bonds
and to pay on September 2, 2022, the Redemption Price.
SECTION 4. Investment of Any Remaining Moneys. At the written direction of the
Authority, the Escrow Agent shall reinvest any other amount of principal and interest, or any portion
thereof, received from the Federal Securities prior to the date on which such payment is required for
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the purposes set forth herein, in noncallable Federal Securities maturing not later than the date on which
such payment or portion thereof is required for the purposes set forth in Section 6, at the w ritten
direction of the City, as verified in a report prepared by an independent certified public accountant or
firm of certified public accountants of favorable national reputation experienced in the refunding of
obligations of political subdivisions to the effect that the reinvestment described in said report will not
adversely affect the sufficiency of the amounts of securities, investments and money in the Escrow
Fund to pay on and prior to September 2, 2022, the principal and interest due on the Prior Authority
Bonds and to pay on September 2, 2022, the Redemption Price, and provided that the City has obtained
and delivered to the Escrow Agent an unqualified opinion of Stradling Yocca Carlson & Rauth, a
Professional Corporation, that such reinvestment will not adversely affect the exclusion from gross
income for federal income tax purposes or of the interest with respect to the Prior Authority Bonds.
Any interest income resulting from investment or reinvestment of moneys pursuant to this Section 4
which is not required for the purposes set forth in Section 6, as verified in the letter of the Verification
Agent originally obtained by the Authority with respect to the refunding of the Prior Bonds or in any
other report prepared by an independent certified public accountant or firm of certified public
accountants of favorable national reputation experienced in the refunding of tax -exempt obligations of
political subdivisions, shall be paid to the Authority promptly upon the receipt of such interest income
by the Escrow Agent. The determination of the Authority as to whether an accountant qualifies under
this Escrow Agreement shall be conclusive.
SECTION 5. Substitution of Securities. Upon the written request of the City, and subject to
the conditions and limitations herein set forth and applicable governmental rules and regulations, the
Escrow Agent shall sell, redeem or otherwise dispose of the Federal Securities, provided that there are
substituted therefor from the proceeds of the Federal Securities other Federal Securities, but only after
the Authority has obtained and delivered to the Escrow Agent: (i) an unqualified opinion of Stradling
Yocca Carlson & Rauth, a Professional Corporation, to the effect that the substitution of securities is
permitted under the legal documents in effect with respect to the Prior Bonds and the Prior Authority
Bonds and that such reinvestment will not adversely affect the exclusion from gross income for federal
income tax purposes of the interest with respect to the Prior Authority Bond s; and (ii) a report by a
firm of independent certified public accountants to the effect that the reinvestment described in said
report will not adversely affect the sufficiency of the amounts of securities, investments and money in
the Escrow Fund to pay on and prior to September 2, 2022, the principal and interest due on the Prior
Authority Bonds and to pay on September 2, 2022, the Redemption Price. The Escrow Agent shall not
be liable or responsible for any loss resulting from any reinvestment made pursuant to this Agreement
and in full compliance with the provisions hereof.
SECTION 6. Payment and Redemption of the Prior Authority Bonds. The City hereby
requests and irrevocably instructs the Escrow Agent to pay on and prior to September 2, 2022, f rom
the amounts on deposit in the Escrow Fund, the principal and interest due on the Prior Authority Bonds
and to pay on September 2, 2022, the Redemption Price. Upon payment in full of the Prior Authority
Bonds, the Escrow Agent shall transfer any moneys remaining in the Escrow Fund to the City and,
after provision for payment of amounts due the Prior Fiscal Agent, the Prior Trustee and the Escrow
Agent pursuant to Section 6 and 9 hereof, this Escrow Agreement shall terminate. The Authority
agrees that upon the defeasance and redemption of the Prior Authority Bonds, the Prior Assessment
District Bonds shall be simultaneously defeased and released in accordance with the terms of the Prior
Fiscal Agent Agreement. The Escrow Fund cash flow for the Escrow Fund is set forth in Schedule III
attached hereto.
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SECTION 7. Notices of Defeasance and Redemption of the Prior Authority Bonds. The
Authority hereby instructs the Escrow Agent to mail, first class, postage prepaid, a notice to the owners
of the Prior Authority Bonds in the form attached hereto as Schedule I-A stating that the defeasance of
the Prior Authority Bonds has occurred. The Authority further instructs the Escrow Agent to mail,
first class, postage prepaid, by not later than 30 days prior to the Redemption Date a notice i n
substantially the form attached hereto as Schedule I-B of redemption with respect to the Prior Authority
Bonds in accordance with the procedures set forth in Section 2.02(d) of the Prior Indenture.
The Authority hereby waives any notice requirement w ith respect to the redemption and
defeasance of the Prior Assessment District Bonds under the Prior Fiscal Agent Agreement.
SECTION 8. Notice of Possible Deficiencies. If at any time the Escrow Agent has actual
knowledge that the moneys and securities in the Escr ow Fund will not be sufficient to make all
payments required by Section 6 hereof, the Escrow Agent shall notify the Authority in writing as soon
as is reasonably practicable, of such fact, the amount of such deficiency and if known, the reason
therefor; provided, however, that the Authority and the City shall have no liability for any such
deficiency.
SECTION 9. Fees and Costs. The Escrow Agent shall receive its reasonable fees and
expenses as previously agreed to by the Escrow Agent , the Authority and the City and any other
reasonable fees and expenses of the Escrow Agent approved by the Authority and the City. The parties
hereto agree that the duties and obligations of the Escrow Agent shall be as expressly provided herein,
and no implied duties or obligations shall be read into this Escrow Agreement against the Escrow
Agent. The fees of and the costs incurred by the Escrow Agent shall in no event be deducted or payable
from, or constitute a lien against, the Escrow Fund.
SECTION 10. Merger or Consolidation. Any company into which the Escrow Agent may be
merged or converted or with which it may be consolidated or any company resulting from any merger,
conversion or consolidation to which it shall be a party or any company to which the Escrow Agent
may sell or transfer all or substantially all of its corporate trust business, provided such company shall
be eligible under this Escrow Agreement, shall be the successor of such Escrow Agent without the
execution or filing of any paper or any further act, notwithstanding anything herein to the contrary.
SECTION 11. Severability. If any section, paragraph, sentence, clause or provision of this
Escrow Agreement shall for any reason be held to be invalid or unenforceable, the invalidity or
unenforceability of such section, paragraph, sentence, clau se or provisions shall not affect any of the
remaining provisions of this Escrow Agreement.
SECTION 12. Execution of Counterparts. This Escrow Agreement may be executed in any
number of counterparts, each of which shall for all purposes be deemed to be an original and all of
which shall together constitute but one and the same instrument.
SECTION 13. Applicable Law. This Escrow Agreement shall be governed by and construed
in accordance with the laws of the State of California.
SECTION 14. Indemnification. The City agrees to indemnify, hold harmless and defend the
Escrow Agent, its officers, employees, directors, and agents, to the extent permitted by law from and
against any and all losses, damages, claims, actions, liabilities, costs and expenses of whatever nature,
kind or character (including, without limitation, attorneys’ fees, litigation and court costs, amounts
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4830-5805-8203v4/022042-0037
paid in settlement and amounts paid to discharge judgments) which may be imposed on, or incurred
by or asserted against the Escrow Agent directly or indirectly arising out of or related to any claim,
suit, investigation, proceeding or action commenced or threatened as a result the execution by the
Escrow Agent of this Escrow Agreement, the performance of its obligations hereunder, or of the
payment of the Prior Authority Bonds; provided, however, that this indemnification shall not cover
any losses or expenses incurred by the Escrow Agent as a result of its negligence or willful misconduct.
The agreements of the City and the Authority hereunder shall survive the discharge of th e Prior
Indenture and the Prior Fiscal Agent Agreement and the payment of the Redemption Price and the
resignation or removal of the Prior Fiscal Agent and the Prior Trustee.
SECTION 15. Immunities and Liability of Escrow Agent.
(a) The Escrow Agent undertakes to perform only such duties as are expressly and
specifically set forth in this Escrow Agreement, and no implied duties or obligations shall be read into
this Escrow Agreement against Escrow Agent.
(b) The Escrow Agent shall not have any liability hereunder except to the extent
of its own negligence or willful misconduct. In no event shall the Escrow Agent be liable for any
special, indirect or consequential damages, even if the Escrow Agent, the City of the Authority knows
of the possibility of such damages. The Escrow Agent shall have no duty or responsibility under this
Escrow Agreement in the case of any default in the performance of the covenants or agreements
contained in the resolutions, indenture and fiscal agent agreement relating to the Prior Bonds. The
Escrow Agent is not required to resolve conflicting demands to money or property in its possession
under this Escrow Agreement.
(c) The Escrow Agent may consult with counsel of its own choice, and the opinion
of such counsel shall be full and complete authorization to take or suffer in good faith any action
hereunder in accordance with such opinion of counsel.
(d) The Escrow Agent shall not be responsible for any of the recitals or
representations contained herein.
(e) The Escrow Agent may become the owner of, or acquire any interest in, any of
the Prior Authority Bonds with the same rights that it would have if it were not the Escrow Agent and
may engage or be interested in any financial or other transaction with the City.
(f) The Escrow Agent shall not be liable for the accurac y of any calculations
provided as to the sufficiency of the moneys and securities deposited with it to pay the prescribed Prior
Authority Bonds.
(g) The Escrow Agent shall not be liable for any action or omission of the City or
the Authority under this Escrow Agreement.
(h) Whenever in the administration of this Escrow Agreement the Escrow Agent
shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering
any action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence or willful misconduct on the part of the Escrow Agent,
be deemed to be conclusively proved and established by a certificate of any authorized representative
of the City, and such certificate shall, in the absence of negligence or willful misconduct on the part of
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the Escrow Agent, be full warrant to the Escrow Agent for any action taken or suffered in good faith
by it under the provisions of this Escrow Agreement.
(i) The Escrow Agent may conclusively rely, as to the truth and accuracy of the
statements and correctness of the opinions and the calculations provided to it in connection with this
Escrow Agreement and shall be protected in acting, or refraining from acting, upon any written notice,
instruction, request, certificate, document or opinion furnished to the Escrow Agent in compliance with
this Escrow Agreement and reasonably believed by the Escrow Agent to have been signed or presented
by the proper party, and it need not invest igate any fact or matter stated in such notice, instruction,
request, certificate or opinion.
(j) The Escrow Agent shall incur no liability for losses arising from any
investment made pursuant to this Agreement.
(k) No provision of this Agreement shall require the Escrow Agent to expend or
risk its own funds or otherwise incur any financial liability in the performance or exercise of any of its
duties hereunder, or in the exercise of its rights or powers.
(l) The liability of the Escrow Agent to make the payments requi red by this
Agreement shall be limited to the moneys and securities in the Escrow Fund.
(m) The Escrow Agent shall furnish the Authority and the City periodic cash
transaction statements which include detail for all investment transactions effected by the Escr ow
Agent or brokers selected by the Authority or the City. Upon the Authority and the City’s election,
such statements will be delivered via the Escrow Agent’s online service and upon electing such service,
paper statements will be provided only upon reque st. The City and the Authority waive the right to
receive brokerage confirmations of security transactions effected by the Escrow Agent as they occur,
to the extent permitted by law. The City and the Authority further understand that trade confirmations
for securities transactions effected by the Escrow Agent will be available upon request and at no
additional cost and other trade confirmations may be obtained from the applicable broker .
SECTION 16. Termination and Modification of Agreement. Upon final payment in full of
the principal of and interest on the Prior Authority Bonds pursuant to this Escrow Agreement, all
obligations of the Escrow Agent under this Escrow Agreement shall cease and terminate, except for
the obligation of the Escrow Agent to pay or cause to be paid to the owners of the Prior Authority
Bonds not presented for payment all sums due thereon and the obligation of the City to pay to the
Escrow Agent any amounts due and owing to the Escrow Agent hereunder. This Escrow Agreement
may not be amended or modified in any manner which is materially adverse to the Owners of the Prior
Authority Bonds without the unanimous prior written consent of the Owners of the Prior Authority
Bonds.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]
S-1
4830-5805-8203v4/022042-0037
IN WITNESS WHEREOF, the City of Lake Elsinore, the Lake Elsinore Public Financing
Authority and Wilmington Trust, National Association, as Escrow Agent, have caused this Escrow
Agreement to be executed each on its behalf by duly authorized officers as of the day and year first
above written.
CITY OF LAKE ELSINORE
By:
City Manager of the City of Lake Elsinore,
ATTEST:
City Clerk of the City of Lake Elsinore
LAKE ELSINORE PUBLIC FINANCING
AUTHORITY
By:
Executive Director
ATTEST:
Secretary of the Lake Elsinore Public
Financing Authority
[SIGNATURES CONTINUED ON NEXT PAGE.]
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4830-5805-8203v4/022042-0037
[SIGNATURE PAGE CONTINUED.]
WILMINGTON TRUST, NATIONAL
ASSOCIATION, as Escrow Agent, Prior Fiscal Agent
and Prior Trustee
By:
Authorized Officer
SCHEDULE I-A
4830-5805-8203v4/022042-0037
SCHEDULE I-A
FORM OF NOTICE OF DEFEASANCE
NOTICE OF DEFEASANCE OF
$15,345,000
LAKE ELSINORE PUBLIC FINANCING AUTHORITY
LOCAL AGENCY REVENUE BONDS (ASSESSMENT DISTRICT NO. 93-1) 2012 SERIES B
BASE CUSIP NO. 509632
CUSIP*
Maturity
(September 1) Amount
GU3 2022 $1,655,000
GV1 2030 8,905,000
Notice is hereby given to the holders of all of the outstanding $15,345,000 Lake Elsinore Public
Financing Authority Local Agency Revenue Bonds (Assessment District No. 93-1) 2012 Series B
maturing on and after September 1, 2022, as li sted above (the “Refunded Bonds”) (i) that there has
been deposited with Wilmington Trust, National Association, as Escrow Agent (the “Escrow Agent”),
moneys and securities under the Escrow Agreement, dated as of May 1, 2021 (the “Escrow
Agreement”), by and among the Lake Elsinore Public Financing Authority (the “Authority”), the City
of Lake Elsinore (the “City”) and the Escrow Agent, which will provide moneys sufficient and
available to pay on and prior to September 2, 2022, the principal and interest due on the Refunded
Bonds and to redeem on September 2, 2022 the Refunded Bonds maturing on September 2, 2030, at a
redemption price equal to the principal amount of the Refunded Bonds to be redeemed; (ii) that the
Escrow Agent has been irrevocably instructed to redeem on September 2, 2022 such Refunded Bonds;
and (iii) that the Refunded Bonds are deemed to be paid in accordance with Section 9.03 of the
Indenture of Trust by and between the Authority and Wilmington Trust, National Association, as
Trustee, dated as of November 1, 2012, pursuant to which the Refunded Bonds were issued.
* The CUSIP numbers are included solely for the convenience of the Holders of the Refunded
Bonds. Neither the Authority nor the Escrow Agent shall be responsible for any error of any nature relating
to such numbers.
Dated this day _____ of May, 2021.
LAKE ELSINORE PUBLIC FINANCING
AUTHORITY
WILMINGTON TRUST, NATIONAL ASSOCIATION
as Escrow Agent
SCHEDULE I-B-1
4830-5805-8203v4/022042-0037
SCHEDULE I-B
FORM OF NOTICE OF REDEMPTION
$15,345,000
LAKE ELSINORE PUBLIC FINANCING AUTHORITY
LOCAL AGENCY REVENUE BONDS (ASSESSMENT DISTRICT NO. 93-1) 2012 SERIES B
BASE CUSIP NO. 509632
NOTICE IS HEREBY GIVEN to the owners of the above-captioned Bonds (the “Bonds”) of the
Lake Elsinore Public Financing Authority (the “Authority”) issued on November 29, 2012, pursuant to the
Indenture of Trust, dated as of November 1, 2012 (the “Indenture”), by and between the Authority and
Wilmington Trust, National Association, as trustee (the “Trustee”), that the Bonds in the amount of
$8,905,000 have been called for redemption on September 2, 2022 (the “Redemption Date”).
CUSIP*
Maturity
(September 1) Rate Amount Price
GV1 2030 5.125% $8,905,000 100%
The Bonds will be payable on the Redemption Date at a redemption price equal to the principal
amount to be redeemed plus interest accrued to the Redemption Date (the “Redemption Price”). The
Redemption Price of the Bonds will become due and payable on the Redemption Date. Interest with respect
to the Bonds to be redeemed will cease to accrue on and after the Redemption Date, and such Bonds will
be surrendered to the Trustee.
All Bonds are required to be surrendered to the principal corporate trust office of the Trustee, on
the Redemption Date at the following location. If the Bonds are mailed, the use of registered, insured mail
is recommended:
Wilmington Trust, National Association
650 Town Center Drive, Suite 600
Costa Mesa, California 92626
If the Owner of any Bond subject to optional redemption fails to deliver such Bond to the Trustee
on the Redemption Date, such Bond shall nevertheless be deemed redeemed on the Redemption Date and
the Owner of such Bond shall have no rights in respect thereof except to receive payment of the Redemption
Price from funds held by the Trustee for such payment.
A form W-9 must be submitted with the Bonds. Failure to provide a completed form W -9 will
result in 31% backup withholding pursuant to the Interest and Dividend Tax Compliance Act of 1983.
Under the Jobs and Growth Tax Relief Reconciliation Act of 2003, 28% will be withheld if the tax
identification number is not properly certified.
* The CUSIP numbers are included solely for the convenience of the Holders of the Bonds. Neither the
Authority nor the Trustee shall be responsible for any error of any nature relating to such numbers.
Wilmington Trust, National Association, as
Trustee
SCHEDULE I-B-2
4830-5805-8203v4/022042-0037
DATED this __ day of __________, 2022.
SCHEDULE II
4830-5805-8203v4/022042-0037
SCHEDULE II
FEDERAL SECURITIES
Security Maturity
Principal
Amount
Interest
Rate Price
Exhibit A-2
4830-5805-8203v4/022042-0037
SCHEDULE III
REDEMPTION PRICE OF PRIOR AUTHORITY BONDS
Payment
Date Principal Due
Principal
Redeemed Interest Premium
Debt
Payment
Cash deposited on May __, 2021 in the Escrow Fund in the amount of $________ of which $________
will be used to purchase the Federal Securities listed in Schedule II hereto and $_____ to be held
uninvested.
CITY OF LAKE ELSINORE
Reassessment Engineer's Report
TM
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
APRIL 2021
a
s
SPICER CONSULTING
G R O U P
Table of Contents
Sections
Section I. Background 1
Section II. Bonds to be Refunded, Total Debt Service Schedule 2
Section III. Bonds to be Issued, Total Debt Service Schedule 2
Section IV. Total Estimated Cost of Refunding 2
Section V. Bonds to be Refunded—Total Debt Service Schedule Per Parcel Versus Bonds
to be Issues—Total Debt Service Schedule per Parcel 2
Section VI. Auditor's Reassessment Roll 2
Section VI I. Reassessment Diagram 2
Section VIII. Certificates 2
Exhibits
Exhibit A— Bonds to be Refunded, Total Debt Service Schedule
Exhibit B— Bonds to be Issued, Total Debt Service Schedule
Exhibit C—Total Estimated Cost of Refunding
Exhibit D— Bonds to be Refunded
Exhibit E—Auditor's Report
Exhibit F—Auditor's Reassessment Roll
Exhibit G— Reassessment Diagram
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills) Page i
AGENCY: CITY OF LAKE ELSINORE
PROJECT: REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021
CITY COUNCIL MEMBERS
Robert E. Magee
Mayor
Timothy J. Sheridan
Mayor Pro Tempore
Steve Manos
Council Member
Natasha Johnson
Council Member
Brian Tisdale
Council Member
CITY STAFF
Jason Simpson
City Manager
Barbara Leibold, Esq.
City Attorney
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills) 1
I. Background
In 1993, the City Council of the City of Lake Elsinore completed proceedings and confirmed assessments for the formation of
Assessment District No. 93-1 (Canyon Hills), (the"District"), pursuant to the Municipal Improvement Act of 1913, Division 12 of
the California Streets and Highways Code. In addition, in 1993 the City issued bonds in accordance with the Improvement Bond
Act of 1915, Division 10 of the California Streets and Highways Code.
In 2000,the City Council of the City of Lake Elsinore completed proceedings and confirmed reassessments for the Assessment
District No. 93-1 (Canyon Hills), (the Reassessment District), pursuant to the Refunding Act of 1984 for 1915 Improvement Act
Bonds (Division 11.5, Sections 9500 through 9707 of the California Streets and Highways Code) (the"Act").
The public improvements funded by the District consist of the acquisition of a portion of Railroad Canyon Road. Only the costs
identified in Area 3 of the Benefit Reimbursement Fee were determined to be the District's fair share and equitable portion of
the Railroad Canyon Road improvement. The improvements are described in greater detail in the original Engineer's Report
dated May 25, 1993, on file in the office of the Clerk of the City of Lake Elsinore.
Generally, the District is comprised of the Canyon Hills project, a planned residential community in the western portion of
Riverside County covering approximately 1,969 acres. Nearly half of the land in the District will be preserved as natural, open
space, including some existing hills and slopes, and portions of the Cottonwood Creek and San Jacinto River. The master plan
for the project calls for a balance of mixed housing types, with both single-family and condominiums, as well as community
shopping facilities, schools and parks. The boundaries of the District are described in greater detail in the Reassessment
Diagram contained in this Reassessment Report(Exhibit F).
Limited Obligation Improvement Bonds representing unpaid assessments on parcels within the District were authorized pursuant
to Resolution No. 93-23 adopted by the City Council on May 25, 1993 in the original principal amount of$18,075,000. In 2000,
the City refunded those bonds in order to achieve savings for each property owner within the District by reducing the remaining
annual debt service payments.
Limited Obligation Improvement Bonds representing unpaid assessments on parcels within the District were authorized pursuant
to Resolution No. 93-23 adopted by the City Council on May 25, 1993 in the original principal amount of$18,075,000. In 2000,
the City refunded those bonds in order to achieve savings for each property owner within the District by reducing the remaining
annual debt service payments. In 2012, the City refunded those bonds in order to achieve savings for each property owner
within the District by reducing the remaining annual debt service payments.
The City now intends to reassess and refinance all outstanding City of Lake Elsinore Assessment District No. 93-1 (Canyon
Hills)Limited Obligation Refunding Improvement Bonds,Series 2012 Series A to achieve an additional savings for each property
owner within the District by reducing the remaining annual debt service payments. The proceedings for the reassessment and
refinancing will be conducted pursuant to the Act.
The name of the Reassessment District is:
REASSESSMENT DISTRICT NO. 2021-1 (CANYON HILLS)
The proposed City of Lake Elsinore Reassessment District No.2021-1 Limited Obligation Refunding Improvement Bonds,Series
2021 representing unpaid reassessments on parcels within the District, will be issued in the manner and form as provided by
the Act. The City of Lake Elsinore Assessment District No. 93-1 (Canyon Hills) Limited Obligation Refunding Improvement
Bonds,2012 Series A and reassessments will remain in full force and effect until superseded and supplanted by reassessments
and the issuance of City of Lake Elsinore Assessment District No. 2021-1 Limited Obligation Refunding Improvement Bonds,
Series 2021 validly and legally issued pursuant to the Act.
Pursuant to the provisions of the Act, and in accordance with Resolution No. 2021-_adopted by the City Council of the City
of Lake Elsinore on April 13, 2021, in connection with the proceedings for City of Lake Elsinore Assessment District No. 2021-
1 Limited Obligation Refunding Improvement Bonds, Series 2021 the following Reassessment Report for the District,consisting
of the Sections described below.
C� City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills) 2
II. Bonds to be Refunded, Total Debt Service Schedule
The debt service schedule showing the unpaid principal and interest installments on the existing Bonds (Series 2012) to be
refunded,and the total amounts thereof, is included as Exhibit A,entitled"Bonds to be Refunded-Total Debt Service Schedule"
pursuant to the requirements of Section 9523(a)of the Streets and Highways Code.
III. Bonds to be Issued, Total Debt Service Schedule
The debt service schedule of principal and interest installments on the new Bonds (2021 Series A)to be issued, including the
total amounts thereof, is included as Exhibit B, entitled "Bonds to be Issued - Total Debt Service Schedule" pursuant to the
requirements of Section 9523 (a)of the Streets and Highways Code.
IV. Total Estimated Cost of Refunding
The schedule showing the total estimated principal amount of the reassessment and of the Refunding Bonds and the maximum
interest rate thereon,together with an estimate of the costs of the reassessment and of issuing the Refunding Bonds, including
all costs of issuing the Refunding Bonds, is included as Exhibit D, entitled "Total Estimated Cost of Refunding" pursuant to the
requirements of Section 9523(b)of the Streets and Highway Code.
V. Bonds to be Refunded—Total Debt Service Schedule Per Parcel Versus Bonds to be Issues—Total Debt Service
Schedule per Parcel
The debt service schedule (auditor's record) showing the schedule of principal and interest installments on all unpaid
assessments to be refunded and the total amounts thereof for each parcel versus the debt service schedule showing the
proposed principal and interest installments to be issued and the total amounts thereof for each parcel, is included as Exhibit E,
entitled "Bonds to be Issued - Debt Service Schedule per Parcel versus Bonds to be Refunded - Debt Service Schedule per
Parcel" pursuant to the requirements of Section 9523(c)of the Streets and Highway Code.
VI. Auditor's Reassessment Roll
A Reassessment Roll, listing the estimated amount of each reassessment by its corresponding Reassessment Number as
shown on the Reassessment Diagram, is included as Exhibit F, entitled "Auditor's Reassessment Roll" pursuant to the
requirements of Section 9523 (d) of the Streets and Highway Code. The Reassessment Roll also lists the Assessor's Parcel
Number(APN), as shown on the Assessor's Maps of the County of Riverside, for each reassessed parcel and the proposed
reassessment.
VII. Reassessment Diagram
The Reassessment Diagram showing the Assessment District, including the boundaries and dimensions of the subdivisions of
land within the District, is included as Exhibit G, entitled"Reassessment Diagram"pursuant to the requirements of Section 9523
(e)of the Streets and Highway Code. Each parcel has an individual number on the Diagram.
VIII. Certifications
Whereas, the City Council of the City of Lake Elsinore, California, adopted, pursuant to the Act, its Resolution of Intention No.
2021- , on April 21, 2021 for the refinancing of all outstanding City of Lake Elsinore Assessment District No. 93-1 (Canyon
Hills)Limited Obligation Refunding Improvement Bonds,Series 2021,in a Special Reassessment District known and designated
as:
ASSESSMENT DISTRICT NO. 2021-1
LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021
Whereas, said Resolution of Intention, as required by law, directed Spicer Consulting Group. (the"Reassessment Engineer)to
make and file a"Report"with the City Clerk.
Now,therefore, I, Shane Spicer.,authorized representative of Spicer Consulting Group., and the duly appointed Reassessment
Engineer, submit herewith the"Report"for the District, and hereby submit the following:
(a) Notice is given that bonds will be issued in accordance with Act, to represent all unpaid assessments, and the last
installment of said bonds shall mature on the 2nd day of September,2030.Said bonds shall bear interest at a rate not to exceed
the current legal maximum rate of seven (7) percent per annum.
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills) 3
(b) By virtue of the authority contained in the Act and by further direction and order of the legislative body, I hereby make
the following Reassessment to cover the costs and expenses of the works of improvement as initially authorized,and as revised
for these proceedings, for the District based on costs and expenses as set forth in this "Report." The following conditions
necessary for compliance under the Refunding Act have been satisfied:
(1) That each estimated annual installment of principal and interest on the reassessment, is
less than the corresponding annual installment of principal and interest on the portion of the
original assessment being superseded, by the same percentage for all subdivisions of land
within the district.
(2) That the number of years to maturity of all refunding bonds is not more than the number of
years to the last maturity of the bonds being refunded.
(3) That the principal amount of the reassessment on each subdivision of land within the district
is less than the unpaid principal amount of the portion of the reassessment being
superseded and supplanted by the same percentage for each subdivision of land within the
district.
(c) An annual administration charge will remain at an amount not to exceed five percent 5.0% of the annual debt service
per lot or parcel per installment which may be made to cover reasonable collection and administrative costs of the District, not
otherwise reimbursed.
(d) The"Method of Spread of Reassessment"is proportional to the original principal assessment for each parcel.
(e) For particulars as to the individual reassessments and their descriptions, reference is made to the Exhibit attached
hereto, being Exhibit F, entitled "Auditor's Reassessment Roll".
Date: April 13, 2021 SPICER CONSULTING GROUP, LLC
REASSESSMENT ENGINEER FOR
CITY OF LAKE ELSINORE
RIVERSIDE COUNTY
STATE OF CALIFORNIA
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills) 4
I, Candace Alvarez, MMC, City Clerk of the City of Lake Elsinore, California hereby certify that the foregoing Reassessment
Report, together with the Reassessment Roll and Reassessment Diagram,was filed in the Off of the City Clerk on day of
12021.
Candace Alvarez, MMC
City Clerk
I, Candace Alvarez, MMC, City Clerk of the City of Lake Elsinore, California hereby certify that the foregoing Reassessment
Report, received approval by the City Council of the City of Lake Elsinore, California, on day of , 2021.
Candace Alvarez, MMC
City Clerk
I,the Superintendent of Streets of the City of Lake Elsinore, California, hereby certify that this Reassessment,together with the
Reassessment Diagram thereto attached,was recorded in my office on day of , 2021.
Superintendent of Streets
A Notice of Reassessment was recorded and the Reassessment Diagram was filed in the office of the County Recorder of the
County of Riverside, California, on day of , 2021.
Candace Alvarez, MMC
City Clerk
City of Lake Elsinore
<GO, Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
EXHIBIT A
Bonds to be Refunded — Total Debt
Service Schedule
1$0�
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT A
Bonds to be Refunded—Total Debt Service Schedule
City of Lake Elsinore
Reassessment District No. 93-1
Limited Obligation Refunding Bonds
Summary of Refunded Bonds' Debt Service Schedule
Dated Date: 11/14/2012 Total Interest $ 2,954,025.00
Issue Date: 11/29/2012 Total Principal $ 10,560,000.00
First Maturity: 09/02/2013 Total Debt Service $ 13,514,025.00
Last Maturity: 09/02/2030
First Coupon:
Payment Prinicipal Interest Interest Semi-Annual Total Annual
Due Due Rate Due Payment Payment
09/02/2021 $805,000.00 4.375% $264,393.75 $ 1,069,393.75 $ 1,069,393.75
03/02/2022 $246,784.38 $246,784.38
09/02/2022 $850,000.00 4.375% $246,784.38 $ 1,096,784.38 $ 1,343,568.75
03/02/2023 $228,190.63 $228,190.63
09/02/2023 $895,000.00 5.125% $228,190.63 $ 1,123,190.63 $ 1,351,381.25
03/02/2024 $205,256.25 $205,256.25
09/02/2024 $950,000.00 5.125% $205,256.25 $ 1,155,256.25 $ 1,360,512.50
03/02/2025 $ 180,912.50 $ 180,912.50
09/02/2025 $ 1,010,000.00 5.125% $ 180,912.50 $ 1,190,912.50 $ 1,371,825.00
03/02/2026 $ 155,031.25 $ 155,031.25
09/02/2026 $ 1,070,000.00 5.125% $ 155,031.25 $ 1,225,031.25 $ 1,380,062.50
03/02/2027 $ 127,612.50 $ 127,612.50
09/02/2027 $ 1,135,000.00 5.125% $ 127,612.50 $ 1,262,612.50 $ 1,390,225.00
03/02/2028 $98,528.13 $98,528.13
09/02/2028 $ 1,205,000.00 5.125% $98,528.13 $ 1,303,528.13 $ 1,402,056.25
03/02/2029 $67,650.00 $67,650.00
09/02/2029 $ 1,280,000.00 5.125% $67,650.00 $ 1,347,650.00 $ 1,415,300.00
03/02/2030 $34,850.00 $34,850.00
09/02/2030 $ 1,360,000.00 5.125% $34,850.00 $ 1,394,850.00 $ 1,429,700.00
Total $ 10,560,000.00 $2,954,025.00 $13,514,025.00 $13,514,025.00
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
EXHIBIT B
Bonds to be Issued — Total Debt
Service Schedule
O
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT B
Bonds to be Issued-Total Debt Service Schedule
City of Lake Elsinore
Reassessment District No. 2021-1
Limited Obligation Refunding Bonds
Refunding Bonds' Debt Service Schedule
Dated Date: 11/14/2012 Total Interest $ 1,340,198.78
Issue Date: 11/29/2012 Total Principal $ 10,555,000.00
First Maturity: 09/02/2013 Total Debt Service $ 11,895,198.78
Last Maturity: 09/02/2030
First Coupon:
Payment Prinicipal Interest Interest Semi-Annual Total Annual
Due Due Rate Due Payment Payment
09/02/2021 $990,000.00 0.740% $77,626.78 $ 1,067,626.78 $ 1,067,626.78
03/02/2022 $ 102,999.75 $ 102,999.75
09/02/2022 $960,000.00 0.940% $ 102,999.75 $ 1,062,999.75 $ 1,165,999.50
03/02/2023 $98,487.75 $98,487.75
09/02/2023 $975,000.00 1.090% $98,487.75 $ 1,073,487.75 $ 1,171,975.50
03/02/2024 $93,174.00 $93,174.00
09/02/2024 $995,000.00 1.350% $93,174.00 $ 1,088,174.00 $ 1,181,348.00
03/02/2025 $86,457.75 $86,457.75
09/02/2025 $ 1,020,000.00 1.850% $86,457.75 $ 1,106,457.75 $ 1,192,915.50
03/02/2026 $77,022.75 $77,022.75
09/02/2026 $ 1,045,000.00 2.150% $77,022.75 $ 1,122,022.75 $ 1,199,045.50
03/02/2027 $65,789.00 $65,789.00
09/02/2027 $ 1,080,000.00 2.550% $65,789.00 $ 1,145,789.00 $ 1,211,578.00
03/02/2028 $52,019.00 $52,019.00
09/02/2028 $ 1,120,000.00 2.800% $52,019.00 $ 1,172,019.00 $ 1,224,038.00
03/02/2029 $36,339.00 $36,339.00
09/02/2029 $ 1,160,000.00 2.990% $36,339.00 $ 1,196,339.00 $ 1,232,678.00
03/02/2030 $ 18,997.00 $ 18,997.00
09/02/2030 $ 1,210,000.00 3.140% $ 18,997.00 $ 1,228,997.00 $ 1,247,994.00
Total $ 10,555,000.00 $1,340,198.78 $11,895,198.78 $11,895,198.78
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
EXHIBIT C
Total Refunded vs Refunding
Bonds
O
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT C
Total Refunded vs Refunding Bonds
City of Lake Elsinore
Reassessment District No. 2021-1
Limited Obligation Refunding Bonds
Refunded vs. Refunding Bonds
Payment Existing Proposed Total
Due Payment Payment Savings
2021 $ 1,069,393.75 $ 1,067,626.78 $ 1,766.97
2022 $ 1,343,568.75 $ 1,165,999.50 $ 177,569.25
2023 $ 1,351,381.25 $ 1,171,975.50 $ 179,405.75
2024 $ 1,360,512.50 $ 1,181,348.00 $ 179,164.50
2025 $ 1,371,825.00 $ 1,192,915.50 $ 178,909.50
2026 $ 1,380,062.50 $ 1,199,045.50 $ 181,017.00
2027 $ 1,390,225.00 $ 1,211,578.00 $ 178,647.00
2028 $ 1,402,056.25 $ 1,224,038.00 $ 178,018.25
2029 $ 1,415,300.00 $ 1,232,678.00 $ 182,622.00
2030 $ 1,429,700.00 $ 1,247,994.00 $ 181,706.00
Total $13,514,025.00 $11,895,198.78 $1,618,826.22
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
EXHIBIT D
Total Estimated Cost of
Refunding
O
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT D
Total Estimated Cost of Refunding
City of Lake Elsinore
Reassessment District No. 2021-1
Limited Obligation Refunding Bonds
Estimated Schedule of Sources and Uses
Dated Date: 4/21/2021
Delivery Date: 4/21/2021
Sources:
Bond Proceeds:
Par Amount $ 10,555,000.00
Premium $0.00
$ 10,555,000.00
Other Sources of Funds:
Existing Reserve Fund $ 1,429,893.28
Delinquency Management Fund $219,878.23
Cashflow Management Fund $496,464.59
$2,146,236.10
Total Sources $ 12,701,236.10
Uses:
Refunding Escrow Deposits:
Cash Deposit $0.74
SLGS Purchases $ 11,305,545.00
$ 11,305,545.03
Other Fund Deposits:
Debt Service Reserve
Fund $ 1,055,500.00
Cost of Issuance:
Cost of Issuance $339,550.00
Rounding $641.07
$340,191.07
Total Uses $12,701,236.10
City of Lake Elsinore
Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
EXHIBIT E
Auditor's Report
O
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT E
Bonds to be Refunded-Total Debt Service Schedule
Per Parcel Versus Bonds to be Issued -Total Debt
Service Schedule Per Parcel
The Auditor's Report showing the bonds to be refunded versus the bonds to be issued for each parcel within the Assessment
District is shown on the following pages.The Auditor's Report for parcels having a zero assessment(e.g., sliver parcels, open
space parcels, common area parcels, parcels which have had their assessment paid in full, etc) are not included on the
following pages since they have no assessment. The Auditor's Report has been submitted to and is on file with the City Clerk.
City of Lake Elsinore
460, Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
EXHIBIT F
Auditor's Assessment Roll
61 44
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT F
Auditor's Reassessment Roll
The Auditor's Reassessment Roll showing the estimated amount of each reassessment, identified by reassessment number
corresponding to the reassessment number on the reassessment diagram is shown on the following pages.
City of Lake Elsinore
460, Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1 358-120-053 $717,151.18 $493,523.39 $493,289.72 ($233.68)
2 358-250-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
3 358-250-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
4 358-250-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
5 358-250-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
6 358-250-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
7 358-250-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
8 358-250-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
9 358-250-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
10 358-250-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
11 358-250-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
12 358-250-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
13 358-250-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
14 358-250-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
15 358-250-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
16 358-250-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
17 358-250-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
18 358-250-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
19 358-250-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
20 358-250-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
21 358-250-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
22 358-250-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
23 358-250-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
24 358-250-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
25 358-250-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
26 358-250-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
27 358-250-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
28 358-250-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
29 358-250-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
30 358-250-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
31 358-250-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
32 358-250-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
33 358-250-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
34 358-250-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
35 358-250-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
36 358-250-039 $4,260.13 $2,931.70 $2,930.31 ($1.39)
37 358-250-040 $4,260.13 $2,931.70 $2,930.31 ($1.39)
38 358-250-041 $4,260.13 $2,931.70 $2,930.31 ($1.39)
39 358-250-042 $4,260.13 $2,931.70 $2,930.31 ($1.39)
40 358-250-043 $4,260.13 $2,931.70 $2,930.31 ($1.39)
41 358-250-044 $4,260.13 $2,931.70 $2,930.31 ($1.39)
42 358-250-045 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-1
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
43 358-250-046 $4,260.13 $2,931.70 $2,930.31 ($1.39)
44 358-250-047 $4,260.13 $2,931.70 $2,930.31 ($1.39)
45 358-250-048 $4,260.13 $2,931.70 $2,930.31 ($1.39)
46 358-250-049 $4,260.13 $2,931.70 $2,930.31 ($1.39)
47 358-250-050 $4,260.13 $2,931.70 $2,930.31 ($1.39)
48 358-250-051 $4,260.13 $2,931.70 $2,930.31 ($1.39)
49 358-250-052 $4,260.13 $2,931.70 $2,930.31 ($1.39)
50 358-250-053 $4,260.13 $2,931.70 $2,930.31 ($1.39)
51 358-250-054 $4,260.13 $2,931.70 $2,930.31 ($1.39)
52 358-250-055 $4,260.13 $2,931.70 $2,930.31 ($1.39)
53 358-250-056 $4,260.13 $2,931.70 $2,930.31 ($1.39)
54 358-250-057 $4,260.13 $2,931.70 $2,930.31 ($1.39)
55 358-250-058 $4,260.13 $2,931.70 $2,930.31 ($1.39)
56 358-250-059 $4,260.13 $2,931.70 $2,930.31 ($1.39)
57 358-250-060 $4,260.13 $2,931.70 $2,930.31 ($1.39)
58 358-250-061 $4,260.13 $2,931.70 $2,930.31 ($1.39)
59 358-250-062 $4,260.13 $2,931.70 $2,930.31 ($1.39)
60 358-250-063 $4,260.13 $2,931.70 $2,930.31 ($1.39)
61 358-251-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
62 358-251-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
63 358-251-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
64 358-251-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
65 358-251-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
66 358-251-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
67 358-251-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
68 358-251-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
69 358-251-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
70 358-251-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
71 358-251-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
72 358-251-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
73 358-251-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
74 358-251-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
75 358-251-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
76 358-251-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
77 358-251-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
78 358-251-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
79 358-260-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
80 358-260-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
81 358-260-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
82 358-260-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
83 358-260-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
84 358-260-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-2
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
85 358-260-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
86 358-260-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
87 358-260-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
88 358-260-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
89 358-260-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
90 358-260-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
91 358-260-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
92 358-260-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
93 358-260-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
94 358-260-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
95 358-260-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
96 358-260-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
97 358-261-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
98 358-261-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
99 358-261-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
100 358-261-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
101 358-261-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
102 358-261-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
103 358-261-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
104 358-261-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
105 358-261-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
106 358-261-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
107 358-261-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
108 358-261-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
109 358-261-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
110 358-261-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
111 358-261-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
112 358-261-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
113 358-261-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
114 358-261-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
115 358-261-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
116 358-261-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
117 358-261-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
118 358-261-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
119 358-261-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
120 358-261-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
121 358-261-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
122 358-261-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
123 358-261-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
124 358-261-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
125 358-261-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
126 358-261-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-3
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
127 358-261-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
128 358-261-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
129 358-261-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
130 358-261-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
131 358-261-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
132 358-261-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
133 358-270-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
134 358-270-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
135 358-270-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
136 358-270-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
137 358-270-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
138 358-270-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
139 358-270-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
140 358-270-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
141 358-270-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
142 358-270-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
143 358-270-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
144 358-271-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
145 358-271-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
146 358-271-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
147 358-272-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
148 358-272-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
149 358-272-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
150 358-272-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
151 358-272-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
152 358-272-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
153 358-272-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
154 358-272-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
155 358-272-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
156 358-272-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
157 358-272-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
158 358-272-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
159 358-272-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
160 358-272-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
161 358-272-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
162 358-272-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
163 358-272-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
164 358-272-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
165 358-272-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
166 358-272-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
167 358-273-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
168 358-273-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-4
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
169 358-273-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
170 358-273-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
171 358-273-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
172 358-273-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
173 358-273-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
174 358-273-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
175 358-273-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
176 358-273-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
177 358-273-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
178 358-274-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
179 358-274-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
180 358-274-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
181 358-274-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
182 358-280-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
183 358-280-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
184 358-280-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
185 358-280-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
186 358-280-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
187 358-280-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
188 358-280-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
189 358-280-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
190 358-280-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
191 358-280-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
192 358-280-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
193 358-280-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
194 358-280-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
195 358-280-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
196 358-280-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
197 358-280-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
198 358-280-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
199 358-280-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
200 358-280-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
201 358-280-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
202 358-280-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
203 358-280-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
204 358-280-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
205 358-280-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
206 358-280-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
207 358-280-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
208 358-280-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
209 358-280-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
210 358-280-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-5
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
211 358-280-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
212 358-280-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
213 358-280-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
214 358-280-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
215 358-280-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
216 358-280-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
217 358-280-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
218 358-280-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
219 358-280-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
220 358-281-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
221 358-281-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
222 358-281-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
223 358-281-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
224 358-281-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
225 358-281-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
226 358-281-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
227 358-281-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
228 358-281-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
229 358-281-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
230 358-281-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
231 358-281-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
232 358-281-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
233 358-290-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
234 358-290-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
235 358-290-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
236 358-290-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
237 358-290-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
238 358-290-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
239 358-290-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
240 358-290-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
241 358-290-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
242 358-290-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
243 358-290-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
244 358-290-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
245 358-290-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
246 358-290-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
247 358-290-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
248 358-290-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
249 358-290-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
250 358-290-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
251 358-290-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
252 358-290-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-6
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
253 358-290-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
254 358-290-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
255 358-290-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
256 358-290-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
257 358-291-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
258 358-291-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
259 358-291-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
260 358-291-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
261 358-291-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
262 358-291-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
263 358-291-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
264 358-291-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
265 358-291-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
266 358-291-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
267 358-291-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
268 358-291-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
269 358-291-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
270 358-291-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
271 358-291-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
272 358-291-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
273 358-291-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
274 358-291-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
275 358-291-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
276 358-300-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
277 358-300-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
278 358-301-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
279 358-301-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
280 358-301-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
281 358-301-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
282 358-301-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
283 358-301-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
284 358-301-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
285 358-301-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
286 358-301-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
287 358-301-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
288 358-301-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
289 358-301-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
290 358-301-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
291 358-301-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
292 358-301-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
293 358-301-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
294 358-301-017 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-7
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
295 358-301-018 $4,976.83 $3,424.92 $3,423.29 ($1.62)
296 358-301-019 $4,976.83 $3,424.92 $3,423.29 ($1.62)
297 358-301-020 $4,976.83 $3,424.92 $3,423.29 ($1.62)
298 358-301-021 $4,976.83 $3,424.92 $3,423.29 ($1.62)
299 358-301-022 $4,976.83 $3,424.92 $3,423.29 ($1.62)
300 358-301-023 $4,976.83 $3,424.92 $3,423.29 ($1.62)
301 358-301-024 $4,976.83 $3,424.92 $3,423.29 ($1.62)
302 358-302-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
303 358-302-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
304 358-302-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
305 358-302-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
306 358-302-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
307 358-302-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
308 358-302-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
309 358-302-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
310 358-302-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
311 358-302-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
312 358-302-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
313 358-302-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
314 358-310-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
315 358-310-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
316 358-310-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
317 358-310-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
318 358-310-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
319 358-310-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
320 358-310-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
321 358-310-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
322 358-310-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
323 358-310-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
324 358-310-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
325 358-310-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
326 358-310-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
327 358-310-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
328 358-310-017 $4,976.83 $3,424.92 $3,423.29 ($1.62)
329 358-310-018 $4,976.83 $3,424.92 $3,423.29 ($1.62)
330 358-310-019 $4,976.83 $3,424.92 $3,423.29 ($1.62)
331 358-310-020 $4,976.83 $3,424.92 $3,423.29 ($1.62)
332 358-310-021 $4,976.83 $3,424.92 $3,423.29 ($1.62)
333 358-310-022 $4,976.83 $3,424.92 $3,423.29 ($1.62)
334 358-310-023 $4,976.83 $3,424.92 $3,423.29 ($1.62)
335 358-310-024 $4,976.83 $3,424.92 $3,423.29 ($1.62)
336 358-310-025 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-8
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
337 358-310-026 $4,976.83 $3,424.92 $3,423.29 ($1.62)
338 358-310-029 $4,976.83 $3,424.92 $3,423.29 ($1.62)
339 358-310-030 $4,976.83 $3,424.92 $3,423.29 ($1.62)
340 358-310-031 $4,976.83 $3,424.92 $3,423.29 ($1.62)
341 358-310-032 $4,976.83 $3,424.92 $3,423.29 ($1.62)
342 358-310-033 $4,976.83 $3,424.92 $3,423.29 ($1.62)
343 358-310-034 $4,976.83 $3,424.92 $3,423.29 ($1.62)
344 358-310-035 $4,976.83 $3,424.92 $3,423.29 ($1.62)
345 358-310-036 $4,976.83 $3,424.92 $3,423.29 ($1.62)
346 358-311-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
347 358-320-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
348 358-320-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
349 358-320-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
350 358-320-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
351 358-320-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
352 358-320-006 $3,317.88 $2,283.27 $2,282.19 ($1.08)
353 358-320-007 $3,317.88 $2,283.27 $2,282.19 ($1.08)
354 358-320-008 $3,317.88 $2,283.27 $2,282.19 ($1.08)
355 358-320-009 $3,317.88 $2,283.27 $2,282.19 ($1.08)
356 358-320-010 $3,317.88 $2,283.27 $2,282.19 ($1.08)
357 358-320-011 $3,317.88 $2,283.27 $2,282.19 ($1.08)
358 358-320-012 $3,317.88 $2,283.27 $2,282.19 ($1.08)
359 358-320-013 $3,317.88 $2,283.27 $2,282.19 ($1.08)
360 358-320-014 $3,317.88 $2,283.27 $2,282.19 ($1.08)
361 358-320-015 $3,317.88 $2,283.27 $2,282.19 ($1.08)
362 358-320-016 $3,317.88 $2,283.27 $2,282.19 ($1.08)
363 358-320-017 $3,317.88 $2,283.27 $2,282.19 ($1.08)
364 358-320-018 $3,317.88 $2,283.27 $2,282.19 ($1.08)
365 358-320-019 $3,317.88 $2,283.27 $2,282.19 ($1.08)
366 358-320-020 $3,317.88 $2,283.27 $2,282.19 ($1.08)
367 358-320-021 $3,317.88 $2,283.27 $2,282.19 ($1.08)
368 358-320-022 $3,317.88 $2,283.27 $2,282.19 ($1.08)
369 358-320-023 $3,317.88 $2,283.27 $2,282.19 ($1.08)
370 358-321-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
371 358-321-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
372 358-321-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
373 358-321-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
374 358-321-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
375 358-321-006 $3,317.88 $2,283.27 $2,282.19 ($1.08)
376 358-321-007 $3,317.88 $2,283.27 $2,282.19 ($1.08)
377 358-321-008 $3,317.88 $2,283.27 $2,282.19 ($1.08)
378 358-321-009 $3,317.88 $2,283.27 $2,282.19 ($1.08)
F-9
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
379 358-321-010 $3,317.88 $2,283.27 $2,282.19 ($1.08)
380 358-321-011 $3,317.88 $2,283.27 $2,282.19 ($1.08)
381 358-321-012 $3,317.88 $2,283.27 $2,282.19 ($1.08)
382 358-321-013 $3,317.88 $2,283.27 $2,282.19 ($1.08)
383 358-321-017 $3,317.88 $2,283.27 $2,282.19 ($1.08)
384 358-321-018 $3,317.88 $2,283.27 $2,282.19 ($1.08)
385 358-321-019 $3,317.88 $2,283.27 $2,282.19 ($1.08)
386 358-321-020 $3,317.88 $2,283.27 $2,282.19 ($1.08)
387 358-321-021 $3,317.88 $2,283.27 $2,282.19 ($1.08)
388 358-321-022 $3,317.88 $2,283.27 $2,282.19 ($1.08)
389 358-321-023 $3,317.88 $2,283.27 $2,282.19 ($1.08)
390 358-321-024 $3,317.88 $2,283.27 $2,282.19 ($1.08)
391 358-321-025 $3,317.88 $2,283.27 $2,282.19 ($1.08)
392 358-321-026 $3,317.88 $2,283.27 $2,282.19 ($1.08)
393 358-321-027 $3,317.88 $2,283.27 $2,282.19 ($1.08)
394 358-321-028 $3,317.88 $2,283.27 $2,282.19 ($1.08)
395 358-321-029 $3,317.88 $2,283.27 $2,282.19 ($1.08)
396 358-321-030 $3,317.88 $2,283.27 $2,282.19 ($1.08)
397 358-321-031 $3,317.88 $2,283.27 $2,282.19 ($1.08)
398 358-321-032 $3,317.88 $2,283.27 $2,282.19 ($1.08)
399 358-321-033 $3,317.88 $2,283.27 $2,282.19 ($1.08)
400 358-321-037 $3,317.88 $2,283.27 $2,282.19 ($1.08)
401 358-321-038 $3,317.88 $2,283.27 $2,282.19 ($1.08)
402 358-321-039 $3,317.88 $2,283.27 $2,282.19 ($1.08)
403 358-330-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
404 358-330-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
405 358-330-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
406 358-330-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
407 358-330-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
408 358-330-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
409 358-330-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
410 358-330-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
411 358-330-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
412 358-330-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
413 358-330-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
414 358-330-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
415 358-330-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
416 358-330-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
417 358-330-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
418 358-330-017 $4,976.83 $3,424.92 $3,423.29 ($1.62)
419 358-330-018 $4,976.83 $3,424.92 $3,423.29 ($1.62)
420 358-331-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-10
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
421 358-331-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
422 358-331-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
423 358-331-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
424 358-331-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
425 358-331-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
426 358-331-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
427 358-340-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
428 358-340-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
429 358-340-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
430 358-340-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
431 358-340-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
432 358-340-006 $3,317.88 $2,283.27 $2,282.19 ($1.08)
433 358-340-007 $3,317.88 $2,283.27 $2,282.19 ($1.08)
434 358-340-008 $3,317.88 $2,283.27 $2,282.19 ($1.08)
435 358-340-009 $3,317.88 $2,283.27 $2,282.19 ($1.08)
436 358-340-010 $3,317.88 $2,283.27 $2,282.19 ($1.08)
437 358-340-011 $3,317.88 $2,283.27 $2,282.19 ($1.08)
438 358-340-012 $3,317.88 $2,283.27 $2,282.19 ($1.08)
439 358-340-013 $3,317.88 $2,283.27 $2,282.19 ($1.08)
440 358-340-014 $3,317.88 $2,283.27 $2,282.19 ($1.08)
441 358-340-015 $3,317.88 $2,283.27 $2,282.19 ($1.08)
442 358-340-016 $3,317.88 $2,283.27 $2,282.19 ($1.08)
443 358-340-017 $3,317.88 $2,283.27 $2,282.19 ($1.08)
444 358-340-018 $3,317.88 $2,283.27 $2,282.19 ($1.08)
445 358-340-019 $3,317.88 $2,283.27 $2,282.19 ($1.08)
446 358-340-020 $3,317.88 $2,283.27 $2,282.19 ($1.08)
447 358-340-021 $3,317.88 $2,283.27 $2,282.19 ($1.08)
448 358-340-022 $3,317.88 $2,283.27 $2,282.19 ($1.08)
449 358-340-023 $3,317.88 $2,283.27 $2,282.19 ($1.08)
450 358-340-024 $3,317.88 $2,283.27 $2,282.19 ($1.08)
451 358-340-025 $3,317.88 $2,283.27 $2,282.19 ($1.08)
452 358-340-026 $3,317.88 $2,283.27 $2,282.19 ($1.08)
453 358-340-027 $3,317.88 $2,283.27 $2,282.19 ($1.08)
454 358-340-028 $3,317.88 $2,283.27 $2,282.19 ($1.08)
455 358-340-029 $3,317.88 $2,283.27 $2,282.19 ($1.08)
456 358-340-030 $3,317.88 $2,283.27 $2,282.19 ($1.08)
457 358-341-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
458 358-341-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
459 358-341-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
460 358-341-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
461 358-341-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
462 358-341-006 $3,317.88 $2,283.27 $2,282.19 ($1.08)
F-11
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
463 358-341-007 $3,317.88 $2,283.27 $2,282.19 ($1.08)
464 358-341-008 $3,317.88 $2,283.27 $2,282.19 ($1.08)
465 358-341-009 $3,317.88 $2,283.27 $2,282.19 ($1.08)
466 358-341-010 $3,317.88 $2,283.27 $2,282.19 ($1.08)
467 358-341-011 $3,317.88 $2,283.27 $2,282.19 ($1.08)
468 358-341-012 $3,317.88 $2,283.27 $2,282.19 ($1.08)
469 358-341-013 $3,317.88 $2,283.27 $2,282.19 ($1.08)
470 358-341-014 $3,317.88 $2,283.27 $2,282.19 ($1.08)
471 358-341-015 $3,317.88 $2,283.27 $2,282.19 ($1.08)
472 358-341-016 $3,317.88 $2,283.27 $2,282.19 ($1.08)
473 358-341-017 $3,317.88 $2,283.27 $2,282.19 ($1.08)
474 358-341-018 $3,317.88 $2,283.27 $2,282.19 ($1.08)
475 358-341-019 $3,317.88 $2,283.27 $2,282.19 ($1.08)
476 358-341-020 $3,317.88 $2,283.27 $2,282.19 ($1.08)
477 358-341-023 $3,317.88 $2,283.27 $2,282.19 ($1.08)
478 358-341-024 $3,317.88 $2,283.27 $2,282.19 ($1.08)
479 358-341-025 $3,317.88 $2,283.27 $2,282.19 ($1.08)
480 358-341-026 $3,317.88 $2,283.27 $2,282.19 ($1.08)
481 358-341-027 $3,317.88 $2,283.27 $2,282.19 ($1.08)
482 358-341-028 $3,317.88 $2,283.27 $2,282.19 ($1.08)
483 358-341-029 $3,317.88 $2,283.27 $2,282.19 ($1.08)
484 358-341-030 $3,317.88 $2,283.27 $2,282.19 ($1.08)
485 358-341-031 $3,317.88 $2,283.27 $2,282.19 ($1.08)
486 358-341-032 $3,317.88 $2,283.27 $2,282.19 ($1.08)
487 358-341-033 $3,317.88 $2,283.27 $2,282.19 ($1.08)
488 358-341-034 $3,317.88 $2,283.27 $2,282.19 ($1.08)
489 358-341-035 $3,317.88 $2,283.27 $2,282.19 ($1.08)
490 358-341-038 $3,317.88 $2,283.27 $2,282.19 ($1.08)
491 358-342-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
492 358-342-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
493 358-342-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
494 358-342-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
495 358-342-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
496 358-342-006 $3,317.88 $2,283.27 $2,282.19 ($1.08)
497 358-342-007 $3,317.88 $2,283.27 $2,282.19 ($1.08)
498 358-342-008 $3,317.88 $2,283.27 $2,282.19 ($1.08)
499 358-342-009 $3,317.88 $2,283.27 $2,282.19 ($1.08)
500 358-342-010 $3,317.88 $2,283.27 $2,282.19 ($1.08)
501 358-342-011 $3,317.88 $2,283.27 $2,282.19 ($1.08)
502 358-342-012 $3,317.88 $2,283.27 $2,282.19 ($1.08)
503 358-342-013 $3,317.88 $2,283.27 $2,282.19 ($1.08)
504 358-342-014 $3,317.88 $2,283.27 $2,282.19 ($1.08)
F-12
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
505 358-342-015 $3,317.88 $2,283.27 $2,282.19 ($1.08)
506 358-342-016 $3,317.88 $2,283.27 $2,282.19 ($1.08)
507 358-342-017 $3,317.88 $2,283.27 $2,282.19 ($1.08)
508 358-350-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
509 358-350-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
510 358-350-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
511 358-350-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
512 358-350-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
513 358-350-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
514 358-350-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
515 358-350-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
516 358-350-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
517 358-350-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
518 358-350-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
519 358-350-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
520 358-350-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
521 358-351-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
522 358-351-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
523 358-351-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
524 358-351-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
525 358-351-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
526 358-351-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
527 358-351-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
528 358-351-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
529 358-351-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
530 358-351-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
531 358-351-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
532 358-351-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
533 358-351-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
534 358-351-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
535 358-351-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
536 358-351-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
537 358-351-017 $4,976.83 $3,424.92 $3,423.29 ($1.62)
538 358-351-018 $4,976.83 $3,424.92 $3,423.29 ($1.62)
539 358-351-019 $4,976.83 $3,424.92 $3,423.29 ($1.62)
540 358-351-020 $4,976.83 $3,424.92 $3,423.29 ($1.62)
541 358-351-021 $4,976.83 $3,424.92 $3,423.29 ($1.62)
542 358-351-022 $4,976.83 $3,424.92 $3,423.29 ($1.62)
543 358-351-023 $4,976.83 $3,424.92 $3,423.29 ($1.62)
544 358-360-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
545 358-360-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
546 358-360-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
F-13
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
547 358-360-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
548 358-360-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
549 358-360-006 $3,317.88 $2,283.27 $2,282.19 ($1.08)
550 358-360-007 $3,317.88 $2,283.27 $2,282.19 ($1.08)
551 358-360-008 $3,317.88 $2,283.27 $2,282.19 ($1.08)
552 358-360-009 $3,317.88 $2,283.27 $2,282.19 ($1.08)
553 358-360-010 $3,317.88 $2,283.27 $2,282.19 ($1.08)
554 358-360-011 $3,317.88 $2,283.27 $2,282.19 ($1.08)
555 358-360-012 $3,317.88 $2,283.27 $2,282.19 ($1.08)
556 358-360-013 $3,317.88 $2,283.27 $2,282.19 ($1.08)
557 358-360-014 $3,317.88 $2,283.27 $2,282.19 ($1.08)
558 358-360-015 $3,317.88 $2,283.27 $2,282.19 ($1.08)
559 358-360-019 $4,976.83 $3,424.92 $3,423.29 ($1.62)
560 358-360-020 $4,976.83 $3,424.92 $3,423.29 ($1.62)
561 358-360-021 $4,976.83 $3,424.92 $3,423.29 ($1.62)
562 358-360-022 $4,976.83 $3,424.92 $3,423.29 ($1.62)
563 358-360-023 $4,976.83 $3,424.92 $3,423.29 ($1.62)
564 358-360-024 $4,976.83 $3,424.92 $3,423.29 ($1.62)
565 358-360-025 $4,976.83 $3,424.92 $3,423.29 ($1.62)
566 358-360-026 $4,976.83 $3,424.92 $3,423.29 ($1.62)
567 358-360-027 $4,976.83 $3,424.92 $3,423.29 ($1.62)
568 358-360-028 $4,976.83 $3,424.92 $3,423.29 ($1.62)
569 358-361-001 $3,317.88 $2,283.27 $2,282.19 ($1.08)
570 358-361-002 $3,317.88 $2,283.27 $2,282.19 ($1.08)
571 358-361-003 $3,317.88 $2,283.27 $2,282.19 ($1.08)
572 358-361-004 $3,317.88 $2,283.27 $2,282.19 ($1.08)
573 358-361-005 $3,317.88 $2,283.27 $2,282.19 ($1.08)
574 358-361-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
575 358-361-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
576 358-361-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
577 358-361-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
578 358-361-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
579 358-361-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
580 358-361-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
581 358-362-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
582 358-362-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
583 358-362-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
584 358-362-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
585 358-362-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
586 358-362-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
587 358-362-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
588 358-370-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-14
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
589 358-370-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
590 358-370-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
591 358-370-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
592 358-370-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
593 358-370-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
594 358-370-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
595 358-370-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
596 358-370-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
597 358-370-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
598 358-370-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
599 358-370-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
600 358-370-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
601 358-370-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
602 358-370-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
603 358-371-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
604 358-371-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
605 358-371-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
606 358-371-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
607 358-371-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
608 358-371-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
609 358-371-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
610 358-371-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
611 358-371-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
612 358-371-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
613 358-371-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
614 358-371-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
615 358-371-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
616 358-371-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
617 358-371-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
618 358-371-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
619 358-371-027 $4,976.83 $3,424.92 $3,423.29 ($1.62)
620 358-371-028 $4,976.83 $3,424.92 $3,423.29 ($1.62)
621 358-371-029 $4,976.83 $3,424.92 $3,423.29 ($1.62)
622 358-371-030 $4,976.83 $3,424.92 $3,423.29 ($1.62)
623 358-371-031 $4,976.83 $3,424.92 $3,423.29 ($1.62)
624 358-371-032 $4,976.83 $3,424.92 $3,423.29 ($1.62)
625 358-372-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
626 358-372-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
627 358-372-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
628 358-372-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
629 358-372-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
630 358-372-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-15
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
631 358-372-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
632 358-372-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
633 358-372-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
634 358-372-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
635 358-372-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
636 358-372-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
637 358-372-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
638 358-372-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
639 358-380-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
640 358-380-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
641 358-380-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
642 358-380-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
643 358-380-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
644 358-380-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
645 358-380-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
646 358-380-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
647 358-380-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
648 358-380-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
649 358-380-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
650 358-380-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
651 358-380-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
652 358-380-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
653 358-380-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
654 358-380-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
655 358-380-017 $4,976.83 $3,424.92 $3,423.29 ($1.62)
656 358-380-018 $4,976.83 $3,424.92 $3,423.29 ($1.62)
657 358-380-019 $4,976.83 $3,424.92 $3,423.29 ($1.62)
658 358-380-020 $4,976.83 $3,424.92 $3,423.29 ($1.62)
659 358-380-021 $4,976.83 $3,424.92 $3,423.29 ($1.62)
660 358-380-022 $4,976.83 $3,424.92 $3,423.29 ($1.62)
661 358-380-023 $4,976.83 $3,424.92 $3,423.29 ($1.62)
662 358-380-024 $4,976.83 $3,424.92 $3,423.29 ($1.62)
663 358-380-025 $4,976.83 $3,424.92 $3,423.29 ($1.62)
664 358-380-026 $4,976.83 $3,424.92 $3,423.29 ($1.62)
665 358-380-027 $4,976.83 $3,424.92 $3,423.29 ($1.62)
666 358-380-028 $4,976.83 $3,424.92 $3,423.29 ($1.62)
667 358-380-029 $4,976.83 $3,424.92 $3,423.29 ($1.62)
668 358-380-030 $4,976.83 $3,424.92 $3,423.29 ($1.62)
669 358-380-031 $4,976.83 $3,424.92 $3,423.29 ($1.62)
670 358-380-032 $4,976.83 $3,424.92 $3,423.29 ($1.62)
671 358-380-033 $4,976.83 $3,424.92 $3,423.29 ($1.62)
672 358-380-034 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-16
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
673 358-380-037 $4,976.83 $3,424.92 $3,423.29 ($1.62)
674 358-380-038 $4,976.83 $3,424.92 $3,423.29 ($1.62)
675 358-380-039 $4,976.83 $3,424.92 $3,423.29 ($1.62)
676 358-380-040 $4,976.83 $3,424.92 $3,423.29 ($1.62)
677 358-380-041 $4,976.83 $3,424.92 $3,423.29 ($1.62)
678 358-380-042 $4,976.83 $3,424.92 $3,423.29 ($1.62)
679 358-381-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
680 358-381-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
681 358-381-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
682 358-381-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
683 358-381-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
684 358-381-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
685 358-381-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
686 358-381-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
687 358-381-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
688 358-381-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
689 358-381-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
690 358-381-013 $4,976.83 $3,424.92 $3,423.29 ($1.62)
691 358-381-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
692 358-381-015 $4,976.83 $3,424.92 $3,423.29 ($1.62)
693 358-381-016 $4,976.83 $3,424.92 $3,423.29 ($1.62)
694 358-381-017 $4,976.83 $3,424.92 $3,423.29 ($1.62)
695 358-381-018 $4,976.83 $3,424.92 $3,423.29 ($1.62)
696 358-381-019 $4,976.83 $3,424.92 $3,423.29 ($1.62)
697 358-382-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
698 358-382-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
699 358-382-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
700 358-382-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
701 358-382-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
702 358-382-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
703 358-382-007 $4,976.83 $3,424.92 $3,423.29 ($1.62)
704 358-382-008 $4,976.83 $3,424.92 $3,423.29 ($1.62)
705 358-382-009 $4,976.83 $3,424.92 $3,423.29 ($1.62)
706 358-382-010 $4,976.83 $3,424.92 $3,423.29 ($1.62)
707 358-382-011 $4,976.83 $3,424.92 $3,423.29 ($1.62)
708 358-382-012 $4,976.83 $3,424.92 $3,423.29 ($1.62)
709 358-383-001 $4,976.83 $3,424.92 $3,423.29 ($1.62)
710 358-383-002 $4,976.83 $3,424.92 $3,423.29 ($1.62)
711 358-383-003 $4,976.83 $3,424.92 $3,423.29 ($1.62)
712 358-383-004 $4,976.83 $3,424.92 $3,423.29 ($1.62)
713 358-383-005 $4,976.83 $3,424.92 $3,423.29 ($1.62)
714 358-383-006 $4,976.83 $3,424.92 $3,423.29 ($1.62)
F-17
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
715 358-390-001 $3,700.77 $2,546.77 $2,545.56 ($1.21)
716 358-390-002 $3,700.77 $2,546.77 $2,545.56 ($1.21)
717 358-390-003 $3,700.77 $2,546.77 $2,545.56 ($1.21)
718 358-390-004 $3,700.77 $2,546.77 $2,545.56 ($1.21)
719 358-390-005 $3,700.77 $2,546.77 $2,545.56 ($1.21)
720 358-390-006 $3,700.77 $2,546.77 $2,545.56 ($1.21)
721 358-390-007 $3,700.77 $2,546.77 $2,545.56 ($1.21)
722 358-390-008 $3,700.77 $2,546.77 $2,545.56 ($1.21)
723 358-390-009 $3,700.77 $2,546.77 $2,545.56 ($1.21)
724 358-390-010 $3,700.77 $2,546.77 $2,545.56 ($1.21)
725 358-390-011 $3,700.77 $2,546.77 $2,545.56 ($1.21)
726 358-390-012 $3,700.77 $2,546.77 $2,545.56 ($1.21)
727 358-390-013 $3,700.77 $2,546.77 $2,545.56 ($1.21)
728 358-390-014 $3,700.77 $2,546.77 $2,545.56 ($1.21)
729 358-390-015 $3,700.77 $2,546.77 $2,545.56 ($1.21)
730 358-390-016 $3,700.77 $2,546.77 $2,545.56 ($1.21)
731 358-390-017 $3,700.77 $2,546.77 $2,545.56 ($1.21)
732 358-390-018 $3,700.77 $2,546.77 $2,545.56 ($1.21)
733 358-390-019 $3,700.77 $2,546.77 $2,545.56 ($1.21)
734 358-390-020 $3,700.77 $2,546.77 $2,545.56 ($1.21)
735 358-390-021 $3,700.77 $2,546.77 $2,545.56 ($1.21)
736 358-390-022 $3,700.77 $2,546.77 $2,545.56 ($1.21)
737 358-390-023 $3,700.77 $2,546.77 $2,545.56 ($1.21)
738 358-390-024 $3,700.77 $2,546.77 $2,545.56 ($1.21)
739 358-390-025 $3,700.77 $2,546.77 $2,545.56 ($1.21)
740 358-390-026 $3,700.77 $2,546.77 $2,545.56 ($1.21)
741 358-390-027 $3,700.77 $2,546.77 $2,545.56 ($1.21)
742 358-390-028 $3,700.77 $2,546.77 $2,545.56 ($1.21)
743 358-390-029 $3,700.77 $2,546.77 $2,545.56 ($1.21)
744 358-390-030 $3,700.77 $2,546.77 $2,545.56 ($1.21)
745 358-390-031 $3,700.77 $2,546.77 $2,545.56 ($1.21)
746 358-390-032 $3,700.77 $2,546.77 $2,545.56 ($1.21)
747 358-390-033 $3,700.77 $2,546.77 $2,545.56 ($1.21)
748 358-390-034 $3,700.77 $2,546.77 $2,545.56 ($1.21)
749 358-390-035 $3,700.77 $2,546.77 $2,545.56 ($1.21)
750 358-390-036 $3,700.77 $2,546.77 $2,545.56 ($1.21)
751 358-390-037 $3,700.77 $2,546.77 $2,545.56 ($1.21)
752 358-390-038 $3,700.77 $2,546.77 $2,545.56 ($1.21)
753 358-390-039 $3,700.77 $2,546.77 $2,545.56 ($1.21)
754 358-390-040 $3,700.77 $2,546.77 $2,545.56 ($1.21)
755 358-390-041 $3,700.77 $2,546.77 $2,545.56 ($1.21)
756 358-390-042 $3,700.77 $2,546.77 $2,545.56 ($1.21)
F-18
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
757 358-390-043 $3,700.77 $2,546.77 $2,545.56 ($1.21)
758 358-390-044 $3,700.77 $2,546.77 $2,545.56 ($1.21)
759 358-390-045 $3,700.77 $2,546.77 $2,545.56 ($1.21)
760 358-390-046 $3,700.77 $2,546.77 $2,545.56 ($1.21)
761 358-390-047 $3,700.77 $2,546.77 $2,545.56 ($1.21)
762 358-390-048 $3,700.77 $2,546.77 $2,545.56 ($1.21)
763 358-390-049 $3,700.77 $2,546.77 $2,545.56 ($1.21)
764 358-390-050 $3,700.77 $2,546.77 $2,545.56 ($1.21)
765 358-390-051 $3,700.77 $2,546.77 $2,545.56 ($1.21)
766 358-390-052 $3,700.77 $2,546.77 $2,545.56 ($1.21)
767 358-390-053 $3,700.77 $2,546.77 $2,545.56 ($1.21)
768 358-390-054 $3,700.77 $2,546.77 $2,545.56 ($1.21)
769 358-390-055 $3,700.77 $2,546.77 $2,545.56 ($1.21)
770 358-400-001 $3,700.77 $2,546.77 $2,545.56 ($1.21)
771 358-400-002 $3,700.77 $2,546.77 $2,545.56 ($1.21)
772 358-400-003 $3,700.77 $2,546.77 $2,545.56 ($1.21)
773 358-400-004 $3,700.77 $2,546.77 $2,545.56 ($1.21)
774 358-400-005 $3,700.77 $2,546.77 $2,545.56 ($1.21)
775 358-400-006 $3,700.77 $2,546.77 $2,545.56 ($1.21)
776 358-400-007 $3,700.77 $2,546.77 $2,545.56 ($1.21)
777 358-400-008 $3,700.77 $2,546.77 $2,545.56 ($1.21)
778 358-400-011 $3,700.77 $2,546.77 $2,545.56 ($1.21)
779 358-400-012 $3,700.77 $2,546.77 $2,545.56 ($1.21)
780 358-400-013 $3,700.77 $2,546.77 $2,545.56 ($1.21)
781 358-400-014 $3,700.77 $2,546.77 $2,545.56 ($1.21)
782 358-400-015 $3,700.77 $2,546.77 $2,545.56 ($1.21)
783 358-400-016 $3,700.77 $2,546.77 $2,545.56 ($1.21)
784 358-400-017 $3,700.77 $2,546.77 $2,545.56 ($1.21)
785 358-400-018 $3,700.77 $2,546.77 $2,545.56 ($1.21)
786 358-400-019 $3,700.77 $2,546.77 $2,545.56 ($1.21)
787 358-400-020 $3,700.77 $2,546.77 $2,545.56 ($1.21)
788 358-400-021 $3,700.77 $2,546.77 $2,545.56 ($1.21)
789 358-400-022 $3,700.77 $2,546.77 $2,545.56 ($1.21)
790 358-400-023 $3,700.77 $2,546.77 $2,545.56 ($1.21)
791 358-400-024 $3,700.77 $2,546.77 $2,545.56 ($1.21)
792 358-400-025 $3,700.77 $2,546.77 $2,545.56 ($1.21)
793 358-400-026 $3,700.77 $2,546.77 $2,545.56 ($1.21)
794 358-400-027 $3,700.77 $2,546.77 $2,545.56 ($1.21)
795 358-400-028 $3,700.77 $2,546.77 $2,545.56 ($1.21)
796 358-400-029 $3,700.77 $2,546.77 $2,545.56 ($1.21)
797 358-400-030 $3,700.77 $2,546.77 $2,545.56 ($1.21)
798 358-400-031 $3,700.77 $2,546.77 $2,545.56 ($1.21)
F-19
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
799 358-400-032 $3,700.77 $2,546.77 $2,545.56 ($1.21)
800 358-400-033 $3,700.77 $2,546.77 $2,545.56 ($1.21)
801 358-400-034 $3,700.77 $2,546.77 $2,545.56 ($1.21)
802 358-400-035 $3,700.77 $2,546.77 $2,545.56 ($1.21)
803 358-400-039 $3,700.77 $2,546.77 $2,545.56 ($1.21)
804 358-400-040 $3,700.77 $2,546.77 $2,545.56 ($1.21)
805 358-410-001 $3,700.77 $2,546.77 $2,545.56 ($1.21)
806 358-410-002 $3,700.77 $2,546.77 $2,545.56 ($1.21)
807 358-410-003 $3,700.77 $2,546.77 $2,545.56 ($1.21)
808 358-410-004 $3,700.77 $2,546.77 $2,545.56 ($1.21)
809 358-410-005 $3,700.77 $2,546.77 $2,545.56 ($1.21)
810 358-410-006 $3,700.77 $2,546.77 $2,545.56 ($1.21)
811 358-410-007 $3,700.77 $2,546.77 $2,545.56 ($1.21)
812 358-410-008 $3,700.77 $2,546.77 $2,545.56 ($1.21)
813 358-410-009 $3,700.77 $2,546.77 $2,545.56 ($1.21)
814 358-410-010 $3,700.77 $2,546.77 $2,545.56 ($1.21)
815 358-410-011 $3,700.77 $2,546.77 $2,545.56 ($1.21)
816 358-410-012 $3,700.77 $2,546.77 $2,545.56 ($1.21)
817 358-410-013 $3,700.77 $2,546.77 $2,545.56 ($1.21)
818 358-410-014 $4,976.83 $3,424.92 $3,423.29 ($1.62)
819 358-411-001 $3,700.77 $2,546.77 $2,545.56 ($1.21)
820 358-411-002 $3,700.77 $2,546.77 $2,545.56 ($1.21)
821 358-411-003 $3,700.77 $2,546.77 $2,545.56 ($1.21)
822 358-411-004 $3,700.77 $2,546.77 $2,545.56 ($1.21)
823 358-411-005 $3,700.77 $2,546.77 $2,545.56 ($1.21)
824 358-411-006 $3,700.77 $2,546.77 $2,545.56 ($1.21)
825 358-411-007 $3,700.77 $2,546.77 $2,545.56 ($1.21)
826 358-411-008 $3,700.76 $2,546.76 $2,545.55 ($1.21)
827 358-411-011 $3,700.76 $2,546.76 $2,545.55 ($1.21)
828 358-411-012 $3,700.76 $2,546.76 $2,545.55 ($1.21)
829 358-411-013 $3,700.76 $2,546.76 $2,545.55 ($1.21)
830 358-411-014 $3,700.76 $2,546.76 $2,545.55 ($1.21)
831 358-411-015 $3,700.76 $2,546.76 $2,545.55 ($1.21)
832 358-411-016 $3,700.76 $2,546.76 $2,545.55 ($1.21)
833 358-411-017 $3,700.76 $2,546.76 $2,545.55 ($1.21)
834 358-411-018 $3,700.76 $2,546.76 $2,545.55 ($1.21)
835 358-411-019 $3,700.76 $2,546.76 $2,545.55 ($1.21)
836 358-411-020 $3,700.76 $2,546.76 $2,545.55 ($1.21)
837 358-411-021 $3,700.76 $2,546.76 $2,545.55 ($1.21)
838 358-411-024 $3,700.76 $2,546.76 $2,545.55 ($1.21)
839 358-411-025 $3,700.76 $2,546.76 $2,545.55 ($1.21)
840 358-411-026 $3,700.76 $2,546.76 $2,545.55 ($1.21)
F-20
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
841 358-411-027 $3,700.76 $2,546.76 $2,545.55 ($1.21)
842 358-411-028 $3,700.76 $2,546.76 $2,545.55 ($1.21)
843 358-411-029 $3,700.76 $2,546.76 $2,545.55 ($1.21)
844 358-411-034 $3,700.76 $2,546.76 $2,545.55 ($1.21)
845 358-411-035 $3,700.76 $2,546.76 $2,545.55 ($1.21)
846 358-411-038 $3,700.76 $2,546.76 $2,545.55 ($1.21)
847 358-411-039 $3,700.76 $2,546.76 $2,545.55 ($1.21)
848 358-570-001 $5,337.94 $3,673.42 $3,671.68 ($1.74)
849 358-570-002 $5,337.94 $3,673.42 $3,671.68 ($1.74)
850 358-570-003 $5,337.94 $3,673.42 $3,671.68 ($1.74)
851 358-570-004 $5,337.94 $3,673.42 $3,671.68 ($1.74)
852 358-570-005 $5,337.94 $3,673.42 $3,671.68 ($1.74)
853 358-570-006 $5,337.94 $3,673.42 $3,671.68 ($1.74)
854 358-570-007 $5,337.94 $3,673.42 $3,671.68 ($1.74)
855 358-570-008 $5,337.94 $3,673.42 $3,671.68 ($1.74)
856 358-570-009 $5,337.94 $3,673.42 $3,671.68 ($1.74)
857 358-570-010 $5,337.94 $3,673.42 $3,671.68 ($1.74)
858 358-570-011 $5,337.94 $3,673.42 $3,671.68 ($1.74)
859 358-570-012 $5,337.94 $3,673.42 $3,671.68 ($1.74)
860 358-570-013 $5,337.94 $3,673.42 $3,671.68 ($1.74)
861 358-570-014 $5,337.94 $3,673.42 $3,671.68 ($1.74)
862 358-570-015 $5,337.94 $3,673.42 $3,671.68 ($1.74)
863 358-570-016 $5,337.94 $3,673.42 $3,671.68 ($1.74)
864 358-570-017 $5,337.94 $3,673.42 $3,671.68 ($1.74)
865 358-570-018 $5,337.94 $3,673.42 $3,671.68 ($1.74)
866 358-570-019 $5,337.94 $3,673.42 $3,671.68 ($1.74)
867 358-570-020 $5,337.94 $3,673.42 $3,671.68 ($1.74)
868 358-570-021 $5,337.94 $3,673.42 $3,671.68 ($1.74)
869 358-570-022 $5,337.94 $3,673.42 $3,671.68 ($1.74)
870 358-570-023 $5,337.94 $3,673.42 $3,671.68 ($1.74)
871 358-570-024 $5,337.94 $3,673.42 $3,671.68 ($1.74)
872 358-570-025 $5,337.94 $3,673.42 $3,671.68 ($1.74)
873 358-570-026 $5,337.94 $3,673.42 $3,671.68 ($1.74)
874 358-570-027 $5,337.94 $3,673.42 $3,671.68 ($1.74)
875 358-570-028 $5,337.94 $3,673.42 $3,671.68 ($1.74)
876 358-570-029 $5,337.94 $3,673.42 $3,671.68 ($1.74)
877 358-570-030 $5,337.94 $3,673.42 $3,671.68 ($1.74)
878 358-570-031 $5,337.94 $3,673.42 $3,671.68 ($1.74)
879 358-570-032 $5,337.94 $3,673.42 $3,671.68 ($1.74)
880 358-570-033 $5,337.94 $3,673.42 $3,671.68 ($1.74)
881 358-570-034 $5,337.94 $3,673.42 $3,671.68 ($1.74)
882 358-570-035 $5,337.94 $3,673.42 $3,671.68 ($1.74)
F-21
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
883 358-570-036 $5,337.94 $3,673.42 $3,671.68 ($1.74)
884 358-570-037 $5,337.94 $3,673.42 $3,671.68 ($1.74)
885 358-570-038 $5,337.94 $3,673.42 $3,671.68 ($1.74)
886 358-570-039 $5,337.94 $3,673.42 $3,671.68 ($1.74)
887 358-570-040 $5,337.94 $3,673.42 $3,671.68 ($1.74)
888 358-570-041 $5,337.94 $3,673.42 $3,671.68 ($1.74)
889 358-570-042 $5,337.94 $3,673.42 $3,671.68 ($1.74)
890 358-570-043 $5,337.94 $3,673.42 $3,671.68 ($1.74)
891 358-570-044 $5,337.94 $3,673.42 $3,671.68 ($1.74)
892 358-570-045 $5,337.94 $3,673.42 $3,671.68 ($1.74)
893 358-570-046 $5,337.94 $3,673.42 $3,671.68 ($1.74)
894 358-570-047 $5,337.94 $3,673.42 $3,671.68 ($1.74)
895 358-570-048 $5,337.94 $3,673.42 $3,671.68 ($1.74)
896 358-570-049 $5,337.94 $3,673.42 $3,671.68 ($1.74)
897 358-570-050 $5,337.94 $3,673.42 $3,671.68 ($1.74)
898 358-570-051 $5,337.94 $3,673.42 $3,671.68 ($1.74)
899 358-570-052 $5,337.94 $3,673.42 $3,671.68 ($1.74)
900 358-570-053 $5,337.94 $3,673.42 $3,671.68 ($1.74)
901 358-580-001 $5,337.94 $3,673.42 $3,671.68 ($1.74)
902 358-580-002 $5,337.94 $3,673.42 $3,671.68 ($1.74)
903 358-580-003 $5,337.94 $3,673.42 $3,671.68 ($1.74)
904 358-580-004 $5,337.94 $3,673.42 $3,671.68 ($1.74)
905 358-580-005 $5,337.94 $3,673.42 $3,671.68 ($1.74)
906 358-580-006 $5,337.94 $3,673.42 $3,671.68 ($1.74)
907 358-580-007 $5,337.94 $3,673.42 $3,671.68 ($1.74)
908 358-580-008 $5,337.94 $3,673.42 $3,671.68 ($1.74)
909 358-580-009 $5,337.94 $3,673.42 $3,671.68 ($1.74)
910 358-580-010 $5,337.94 $3,673.42 $3,671.68 ($1.74)
911 358-580-011 $5,337.94 $3,673.42 $3,671.68 ($1.74)
912 358-580-012 $5,337.94 $3,673.42 $3,671.68 ($1.74)
913 358-580-013 $5,337.94 $3,673.42 $3,671.68 ($1.74)
914 358-580-014 $5,337.94 $3,673.42 $3,671.68 ($1.74)
915 358-580-015 $5,337.94 $3,673.42 $3,671.68 ($1.74)
916 358-580-016 $5,337.94 $3,673.42 $3,671.68 ($1.74)
917 358-580-017 $5,337.94 $3,673.42 $3,671.68 ($1.74)
918 358-580-018 $5,337.94 $3,673.42 $3,671.68 ($1.74)
919 358-580-019 $5,337.94 $3,673.42 $3,671.68 ($1.74)
920 358-580-020 $5,337.94 $3,673.42 $3,671.68 ($1.74)
921 358-580-021 $5,337.94 $3,673.42 $3,671.68 ($1.74)
922 358-580-022 $5,337.94 $3,673.42 $3,671.68 ($1.74)
923 358-580-023 $5,337.94 $3,673.42 $3,671.68 ($1.74)
924 358-580-024 $5,337.94 $3,673.42 $3,671.68 ($1.74)
F-22
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
925 358-580-025 $5,337.94 $3,673.42 $3,671.68 ($1.74)
926 358-580-026 $5,337.94 $3,673.42 $3,671.68 ($1.74)
927 358-580-027 $5,337.94 $3,673.42 $3,671.68 ($1.74)
928 358-580-028 $5,337.94 $3,673.42 $3,671.68 ($1.74)
929 358-580-029 $5,337.94 $3,673.42 $3,671.68 ($1.74)
930 358-580-030 $5,337.94 $3,673.42 $3,671.68 ($1.74)
931 358-580-031 $5,337.94 $3,673.42 $3,671.68 ($1.74)
932 358-580-032 $5,337.94 $3,673.42 $3,671.68 ($1.74)
933 358-580-033 $5,337.95 $3,673.43 $3,671.69 ($1.74)
934 358-580-034 $5,337.95 $3,673.43 $3,671.69 ($1.74)
935 358-590-001 $5,737.21 $3,948.19 $3,946.32 ($1.87)
936 358-590-002 $5,737.21 $3,948.19 $3,946.32 ($1.87)
937 358-590-003 $5,737.21 $3,948.19 $3,946.32 ($1.87)
938 358-590-004 $5,737.21 $3,948.19 $3,946.32 ($1.87)
939 358-590-005 $5,737.21 $3,948.19 $3,946.32 ($1.87)
940 358-590-006 $5,737.21 $3,948.19 $3,946.32 ($1.87)
941 358-590-007 $5,737.21 $3,948.19 $3,946.32 ($1.87)
942 358-590-008 $5,737.21 $3,948.19 $3,946.32 ($1.87)
943 358-590-009 $5,737.21 $3,948.19 $3,946.32 ($1.87)
944 358-590-010 $5,737.21 $3,948.19 $3,946.32 ($1.87)
945 358-590-011 $5,737.21 $3,948.19 $3,946.32 ($1.87)
946 358-590-012 $5,737.21 $3,948.19 $3,946.32 ($1.87)
947 358-590-013 $5,737.21 $3,948.19 $3,946.32 ($1.87)
948 358-590-014 $5,737.21 $3,948.19 $3,946.32 ($1.87)
949 358-590-015 $5,737.21 $3,948.19 $3,946.32 ($1.87)
950 358-590-016 $5,737.21 $3,948.19 $3,946.32 ($1.87)
951 358-590-017 $5,737.21 $3,948.19 $3,946.32 ($1.87)
952 358-590-018 $5,737.21 $3,948.19 $3,946.32 ($1.87)
953 358-590-019 $5,737.21 $3,948.19 $3,946.32 ($1.87)
954 358-590-020 $5,737.21 $3,948.19 $3,946.32 ($1.87)
955 358-590-021 $5,737.21 $3,948.19 $3,946.32 ($1.87)
956 358-590-022 $5,737.21 $3,948.19 $3,946.32 ($1.87)
957 358-590-023 $5,737.21 $3,948.19 $3,946.32 ($1.87)
958 358-590-024 $5,737.21 $3,948.19 $3,946.32 ($1.87)
959 358-590-025 $5,737.21 $3,948.19 $3,946.32 ($1.87)
960 358-590-026 $5,737.21 $3,948.19 $3,946.32 ($1.87)
961 358-590-027 $5,737.21 $3,948.19 $3,946.32 ($1.87)
962 358-590-028 $5,737.21 $3,948.19 $3,946.32 ($1.87)
963 358-590-029 $5,737.21 $3,948.19 $3,946.32 ($1.87)
964 358-590-030 $5,737.21 $3,948.19 $3,946.32 ($1.87)
965 358-591-001 $5,737.21 $3,948.19 $3,946.32 ($1.87)
966 358-591-002 $5,737.21 $3,948.19 $3,946.32 ($1.87)
F-23
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
967 358-591-003 $5,737.21 $3,948.19 $3,946.32 ($1.87)
968 358-591-004 $5,737.21 $3,948.19 $3,946.32 ($1.87)
969 358-591-012 $11,474.42 $7,896.38 $7,892.64 ($3.74)
970 358-600-003 $5,737.21 $3,948.19 $3,946.32 ($1.87)
971 358-600-004 $5,737.21 $3,948.19 $3,946.32 ($1.87)
972 358-600-005 $5,737.21 $3,948.19 $3,946.32 ($1.87)
973 358-600-006 $5,737.21 $3,948.19 $3,946.32 ($1.87)
974 358-600-007 $5,737.21 $3,948.19 $3,946.32 ($1.87)
975 358-600-014 $5,737.21 $3,948.19 $3,946.32 ($1.87)
976 358-600-015 $5,737.21 $3,948.19 $3,946.32 ($1.87)
977 358-600-016 $5,737.21 $3,948.19 $3,946.32 ($1.87)
978 358-600-017 $5,737.21 $3,948.19 $3,946.32 ($1.87)
979 358-600-018 $5,737.21 $3,948.19 $3,946.32 ($1.87)
980 358-600-019 $5,737.21 $3,948.19 $3,946.32 ($1.87)
981 358-600-020 $5,737.21 $3,948.19 $3,946.32 ($1.87)
982 358-600-021 $5,737.21 $3,948.19 $3,946.32 ($1.87)
983 358-600-022 $5,737.21 $3,948.19 $3,946.32 ($1.87)
984 358-600-023 $5,737.21 $3,948.19 $3,946.32 ($1.87)
985 358-600-024 $5,737.21 $3,948.19 $3,946.32 ($1.87)
986 358-600-025 $5,737.21 $3,948.19 $3,946.32 ($1.87)
987 358-600-026 $5,737.21 $3,948.19 $3,946.32 ($1.87)
988 358-600-027 $5,737.21 $3,948.19 $3,946.32 ($1.87)
989 358-600-028 $5,737.21 $3,948.19 $3,946.32 ($1.87)
990 358-600-029 $5,737.21 $3,948.19 $3,946.32 ($1.87)
991 358-600-030 $5,737.21 $3,948.19 $3,946.32 ($1.87)
992 358-600-031 $5,737.21 $3,948.19 $3,946.32 ($1.87)
993 358-600-032 $5,737.21 $3,948.19 $3,946.32 ($1.87)
994 358-600-033 $5,737.21 $3,948.19 $3,946.32 ($1.87)
995 358-600-044 $11,474.42 $7,896.38 $7,892.64 ($3.74)
996 358-600-047 $5,737.21 $3,948.19 $3,946.32 ($1.87)
997 358-600-051 $5,737.21 $3,948.19 $3,946.32 ($1.87)
998 358-600-053 $5,737.21 $3,948.19 $3,946.32 ($1.87)
999 358-600-054 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1000 358-600-055 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1001 358-600-056 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1002 358-601-002 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1003 358-601-003 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1004 358-601-004 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1005 358-601-005 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1006 358-601-006 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1007 358-601-007 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1008 358-601-008 $5,737.21 $3,948.19 $3,946.32 ($1.87)
F-24
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1009 358-601-009 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1010 358-601-010 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1011 358-601-011 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1012 358-601-012 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1013 358-601-013 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1014 358-601-014 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1015 358-601-015 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1016 358-601-016 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1017 358-601-017 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1018 358-601-018 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1019 358-601-019 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1020 358-601-020 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1021 358-601-021 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1022 358-601-022 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1023 358-601-023 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1024 358-601-024 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1025 358-601-025 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1026 358-601-026 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1027 358-601-027 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1028 358-601-028 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1029 358-601-029 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1030 358-601-030 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1031 358-601-031 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1032 358-601-032 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1033 358-601-033 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1034 358-601-034 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1035 358-601-035 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1036 358-601-037 $5,737.21 $3,948.19 $3,946.32 ($1.87)
1037 358-610-002 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1038 358-610-003 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1039 358-610-004 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1040 358-610-005 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1041 358-610-006 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1042 358-610-007 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1043 358-610-008 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1044 358-610-009 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1045 358-610-010 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1046 358-610-011 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1047 358-611-002 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1048 358-611-003 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1049 358-611-004 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1050 358-611-005 $3,824.80 $2,632.12 $2,630.87 ($1.25)
F-25
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1051 358-611-006 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1052 358-611-007 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1053 358-611-008 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1054 358-611-009 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1055 358-611-010 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1056 358-611-011 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1057 358-611-012 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1058 358-611-013 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1059 358-611-014 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1060 358-611-015 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1061 358-611-016 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1062 358-611-017 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1063 358-611-018 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1064 358-611-019 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1065 358-611-020 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1066 358-611-021 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1067 358-611-022 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1068 358-611-023 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1069 358-611-024 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1070 358-611-025 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1071 358-611-026 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1072 358-611-027 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1073 358-611-028 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1074 358-611-029 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1075 358-611-030 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1076 358-611-031 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1077 358-611-032 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1078 358-611-033 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1079 358-611-034 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1080 358-611-035 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1081 358-611-036 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1082 358-611-037 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1083 358-611-038 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1084 358-611-039 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1085 358-611-040 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1086 358-611-041 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1087 358-611-042 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1088 358-611-043 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1089 358-611-044 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1090 358-611-045 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1091 358-611-046 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1092 358-611-047 $3,824.80 $2,632.12 $2,630.87 ($1.25)
F-26
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1093 358-611-048 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1094 358-611-050 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1095 358-612-001 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1096 358-612-002 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1097 358-612-003 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1098 358-612-004 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1099 358-612-005 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1100 358-612-006 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1101 358-612-007 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1102 358-612-008 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1103 358-612-009 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1104 358-612-010 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1105 358-612-011 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1106 358-612-012 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1107 358-612-014 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1108 358-612-015 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1109 358-612-016 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1110 358-612-017 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1111 358-612-018 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1112 358-612-021 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1113 358-612-022 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1114 358-612-023 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1115 358-612-024 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1116 358-612-025 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1117 358-612-026 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1118 358-612-027 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1119 358-612-028 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1120 358-612-029 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1121 358-612-030 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1122 358-612-031 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1123 358-612-032 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1124 358-612-033 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1125 358-612-034 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1126 358-612-035 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1127 358-612-036 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1128 358-612-037 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1129 358-612-038 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1130 358-612-040 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1131 358-620-001 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1132 358-620-002 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1133 358-620-003 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1134 358-620-004 $3,824.80 $2,632.12 $2,630.87 ($1.25)
F-27
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1135 358-620-005 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1136 358-620-006 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1137 358-620-007 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1138 358-620-008 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1139 358-620-009 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1140 358-620-010 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1141 358-620-011 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1142 358-620-012 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1143 358-620-013 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1144 358-620-014 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1145 358-620-015 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1146 358-620-016 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1147 358-620-017 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1148 358-620-018 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1149 358-620-019 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1150 358-620-020 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1151 358-620-021 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1152 358-620-022 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1153 358-620-023 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1154 358-620-024 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1155 358-620-025 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1156 358-620-026 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1157 358-620-027 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1158 358-620-028 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1159 358-620-029 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1160 358-620-030 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1161 358-620-031 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1162 358-620-032 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1163 358-620-033 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1164 358-620-034 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1165 358-620-035 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1166 358-620-036 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1167 358-620-037 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1168 358-620-038 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1169 358-620-039 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1170 358-620-040 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1171 358-620-041 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1172 358-620-042 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1173 358-620-043 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1174 358-620-044 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1175 358-620-045 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1176 358-620-046 $3,824.80 $2,632.12 $2,630.87 ($1.25)
F-28
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1177 358-620-047 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1178 358-621-001 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1179 358-621-002 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1180 358-621-003 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1181 358-621-004 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1182 358-621-005 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1183 358-621-006 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1184 358-621-007 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1185 358-621-008 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1186 358-621-009 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1187 358-621-010 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1188 358-621-011 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1189 358-621-012 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1190 358-621-013 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1191 358-621-014 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1192 358-621-015 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1193 358-621-016 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1194 358-621-017 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1195 358-621-018 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1196 358-621-019 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1197 358-621-020 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1198 358-621-021 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1199 358-621-022 $3,824.80 $2,632.12 $2,630.87 ($1.25)
1200 358-630-004 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1201 358-630-005 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1202 358-630-006 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1203 358-630-007 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1204 358-630-008 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1205 358-630-009 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1206 358-630-010 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1207 358-630-011 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1208 358-630-012 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1209 358-630-013 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1210 358-630-014 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1211 358-630-015 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1212 358-630-016 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1213 358-630-017 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1214 358-630-018 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1215 358-630-019 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1216 358-630-020 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1217 358-630-021 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1218 358-630-022 $3,824.81 $2,632.13 $2,630.88 ($1.25)
F-29
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1219 358-630-023 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1220 358-630-024 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1221 358-630-025 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1222 358-630-026 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1223 358-630-027 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1224 358-630-028 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1225 358-630-029 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1226 358-630-030 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1227 358-630-031 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1228 358-630-032 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1229 358-630-033 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1230 358-630-034 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1231 358-630-035 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1232 358-630-036 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1233 358-630-037 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1234 358-630-038 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1235 358-630-039 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1236 358-630-040 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1237 358-630-041 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1238 358-630-042 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1239 358-630-045 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1240 358-630-047 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1241 358-630-049 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1242 358-640-001 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1243 358-640-002 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1244 358-640-003 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1245 358-640-004 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1246 358-640-005 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1247 358-640-006 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1248 358-640-007 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1249 358-640-008 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1250 358-640-009 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1251 358-640-010 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1252 358-640-011 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1253 358-640-012 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1254 358-640-013 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1255 358-640-014 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1256 358-640-015 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1257 358-640-016 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1258 358-640-017 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1259 358-640-018 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1260 358-640-019 $3,824.81 $2,632.13 $2,630.88 ($1.25)
F-30
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1261 358-640-020 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1262 358-640-021 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1263 358-640-022 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1264 358-640-023 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1265 358-640-024 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1266 358-640-025 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1267 358-640-026 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1268 358-640-027 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1269 358-640-028 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1270 358-640-029 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1271 358-640-030 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1272 358-640-031 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1273 358-640-032 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1274 358-640-033 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1275 358-640-034 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1276 358-650-001 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1277 358-650-002 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1278 358-650-003 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1279 358-650-004 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1280 358-650-005 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1281 358-650-006 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1282 358-650-007 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1283 358-650-008 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1284 358-650-009 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1285 358-650-010 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1286 358-650-011 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1287 358-650-012 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1288 358-650-013 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1289 358-650-014 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1290 358-650-015 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1291 358-650-016 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1292 358-650-017 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1293 358-650-018 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1294 358-650-019 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1295 358-650-020 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1296 358-650-021 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1297 358-650-022 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1298 358-650-023 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1299 358-650-024 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1300 358-650-025 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1301 358-650-026 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1302 358-650-027 $3,824.81 $2,632.13 $2,630.88 ($1.25)
F-31
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1303 358-650-028 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1304 358-650-029 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1305 358-650-030 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1306 358-650-031 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1307 358-650-032 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1308 358-650-033 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1309 358-650-034 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1310 358-650-035 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1311 358-650-036 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1312 358-650-037 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1313 358-650-038 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1314 358-650-039 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1315 358-650-040 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1316 358-650-041 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1317 358-650-042 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1318 358-650-043 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1319 358-650-044 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1320 358-650-045 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1321 358-650-046 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1322 358-650-047 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1323 358-650-048 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1324 358-650-049 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1325 358-650-050 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1326 358-651-001 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1327 358-651-002 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1328 358-651-003 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1329 358-651-004 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1330 358-651-005 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1331 358-651-006 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1332 358-651-007 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1333 358-651-008 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1334 358-651-009 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1335 358-651-010 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1336 358-651-011 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1337 358-651-012 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1338 358-651-013 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1339 358-651-014 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1340 358-651-015 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1341 358-651-016 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1342 358-651-017 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1343 358-651-018 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1344 358-651-019 $3,824.81 $2,632.13 $2,630.88 ($1.25)
F-32
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1345 358-651-020 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1346 358-651-021 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1347 358-651-022 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1348 358-651-023 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1349 358-651-024 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1350 358-651-025 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1351 358-651-026 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1352 358-651-027 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1353 358-651-028 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1354 358-651-029 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1355 358-651-030 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1356 358-651-031 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1357 358-651-032 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1358 358-651-033 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1359 358-651-034 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1360 358-651-035 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1361 358-651-036 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1362 358-651-037 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1363 358-651-038 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1364 358-651-039 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1365 358-651-040 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1366 358-651-041 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1367 358-651-042 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1368 358-651-043 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1369 358-651-044 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1370 358-651-045 $3,824.81 $2,632.13 $2,630.88 ($1.25)
1371 363-210-017 $8,840.36 $6,083.69 $6,080.81 ($2.88)
1372 363-210-018 $7,301.54 $5,024.72 $5,022.34 ($2.38)
1373 363-210-019 $8,416.39 $5,791.92 $5,789.18 ($2.74)
1374 363-210-020 $9,562.66 $6,580.76 $6,577.64 ($3.12)
1375 363-210-021 $8,369.30 $5,759.52 $5,756.79 ($2.73)
1376 363-210-022 $16,471.65 $11,335.33 $11,329.96 ($5.37)
1377 363-210-023 $15,184.06 $10,449.25 $10,444.30 ($4.95)
1378 363-210-024 $9,075.89 $6,245.77 $6,242.82 ($2.96)
1379 363-210-025 $9,562.66 $6,580.76 $6,577.64 ($3.12)
1380 363-210-026 $3,674.32 $2,528.56 $2,527.37 ($1.20)
1381 363-210-027 $28,735.10 $19,774.69 $19,765.33 ($9.36)
1382 363-210-028 $7,756.91 $5,338.09 $5,335.56 ($2.53)
1383 363-210-029 $8,008.14 $5,510.98 $5,508.37 ($2.61)
1384 363-210-030 $39,130.00 $26,928.17 $26,915.42 ($12.75)
1385 363-210-051 $70,377.43 $48,431.78 $48,408.85 ($22.93)
1386 363-471-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-33
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1387 363-471-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1388 363-471-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1389 363-471-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1390 363-471-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1391 363-471-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1392 363-471-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1393 363-471-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1394 363-471-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1395 363-471-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1396 363-471-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1397 363-471-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1398 363-471-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1399 363-471-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1400 363-471-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1401 363-471-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1402 363-471-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1403 363-471-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1404 363-471-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1405 363-471-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1406 363-471-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1407 363-471-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1408 363-471-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1409 363-471-028 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1410 363-472-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1411 363-472-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1412 363-472-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1413 363-472-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1414 363-472-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1415 363-472-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1416 363-472-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1417 363-472-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1418 363-472-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1419 363-472-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1420 363-472-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1421 363-472-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1422 363-472-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1423 363-472-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1424 363-472-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1425 363-472-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1426 363-472-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1427 363-472-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1428 363-472-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-34
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1429 363-472-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1430 363-472-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1431 363-472-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1432 363-472-025 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1433 363-472-026 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1434 363-472-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1435 363-472-028 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1436 363-472-029 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1437 363-472-032 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1438 363-472-033 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1439 363-472-034 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1440 363-472-035 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1441 363-472-036 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1442 363-472-037 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1443 363-472-038 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1444 363-472-039 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1445 363-472-040 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1446 363-472-041 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1447 363-472-042 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1448 363-472-043 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1449 363-473-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1450 363-473-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1451 363-473-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1452 363-473-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1453 363-473-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1454 363-473-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1455 363-473-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1456 363-473-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1457 363-473-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1458 363-473-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1459 363-473-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1460 363-473-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1461 363-473-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1462 363-473-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1463 363-473-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1464 363-473-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1465 363-473-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1466 363-473-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1467 363-473-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1468 363-473-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1469 363-473-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1470 363-473-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-35
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1471 363-473-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1472 363-473-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1473 363-473-025 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1474 363-473-026 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1475 363-473-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1476 363-473-030 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1477 363-473-031 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1478 363-473-032 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1479 363-473-033 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1480 363-473-034 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1481 363-473-035 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1482 363-473-036 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1483 363-473-037 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1484 363-473-040 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1485 363-561-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1486 363-561-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1487 363-561-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1488 363-561-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1489 363-561-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1490 363-561-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1491 363-561-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1492 363-561-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1493 363-561-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1494 363-561-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1495 363-561-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1496 363-561-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1497 363-561-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1498 363-561-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1499 363-561-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1500 363-561-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1501 363-561-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1502 363-561-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1503 363-562-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1504 363-562-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1505 363-562-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1506 363-562-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1507 363-562-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1508 363-562-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1509 363-562-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1510 363-562-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1511 363-562-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1512 363-562-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-36
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1513 363-562-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1514 363-562-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1515 363-562-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1516 363-562-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1517 363-562-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1518 363-562-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1519 363-562-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1520 363-562-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1521 363-562-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1522 363-562-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1523 363-562-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1524 363-562-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1525 363-562-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1526 363-562-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1527 363-563-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1528 363-563-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1529 363-563-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1530 363-563-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1531 363-563-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1532 363-563-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1533 363-563-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1534 363-563-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1535 363-571-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1536 363-571-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1537 363-571-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1538 363-571-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1539 363-571-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1540 363-571-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1541 363-571-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1542 363-571-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1543 363-571-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1544 363-571-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1545 363-571-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1546 363-571-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1547 363-571-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1548 363-571-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1549 363-571-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1550 363-571-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1551 363-571-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1552 363-571-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1553 363-571-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1554 363-571-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-37
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1555 363-571-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1556 363-571-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1557 363-571-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1558 363-571-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1559 363-571-025 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1560 363-571-026 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1561 363-571-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1562 363-571-028 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1563 363-571-029 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1564 363-571-030 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1565 363-571-031 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1566 363-571-032 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1567 363-571-033 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1568 363-571-034 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1569 363-571-035 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1570 363-571-036 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1571 363-571-037 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1572 363-571-038 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1573 363-571-039 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1574 363-571-040 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1575 363-571-041 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1576 363-571-042 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1577 363-571-043 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1578 363-571-044 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1579 363-572-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1580 363-572-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1581 363-572-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1582 363-572-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1583 363-572-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1584 363-572-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1585 363-572-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1586 363-572-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1587 363-572-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1588 363-572-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1589 363-572-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1590 363-572-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1591 363-572-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1592 363-573-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1593 363-573-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1594 363-573-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1595 363-573-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1596 363-573-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-38
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1597 363-573-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1598 363-573-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1599 363-573-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1600 363-573-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1601 363-581-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1602 363-581-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1603 363-581-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1604 363-581-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1605 363-581-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1606 363-581-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1607 363-581-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1608 363-581-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1609 363-581-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1610 363-581-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1611 363-581-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1612 363-581-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1613 363-581-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1614 363-581-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1615 363-581-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1616 363-581-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1617 363-582-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1618 363-582-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1619 363-582-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1620 363-582-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1621 363-582-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1622 363-582-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1623 363-582-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1624 363-582-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1625 363-582-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1626 363-582-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1627 363-582-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1628 363-582-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1629 363-582-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1630 363-582-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1631 363-582-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1632 363-582-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1633 363-582-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1634 363-582-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1635 363-582-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1636 363-582-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1637 363-582-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1638 363-582-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-39
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1639 363-582-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1640 363-582-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1641 363-582-025 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1642 363-582-026 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1643 363-582-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1644 363-582-028 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1645 363-582-029 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1646 363-590-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1647 363-590-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1648 363-590-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1649 363-590-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1650 363-590-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1651 363-590-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1652 363-590-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1653 363-590-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1654 363-590-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1655 363-590-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1656 363-590-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1657 363-590-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1658 363-590-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1659 363-590-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1660 363-590-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1661 363-590-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1662 363-590-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1663 363-590-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1664 363-590-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1665 363-590-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1666 363-590-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1667 363-590-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1668 363-590-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1669 363-590-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1670 363-590-025 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1671 363-590-026 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1672 363-590-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1673 363-590-028 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1674 363-590-029 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1675 363-590-030 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1676 363-590-031 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1677 363-590-032 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1678 363-590-033 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1679 363-590-034 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1680 363-590-035 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-40
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1681 363-590-036 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1682 363-590-037 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1683 363-590-038 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1684 363-590-039 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1685 363-590-040 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1686 363-590-041 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1687 363-590-042 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1688 363-590-043 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1689 363-590-044 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1690 363-590-045 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1691 363-590-046 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1692 363-590-047 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1693 363-590-048 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1694 363-590-049 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1695 363-590-050 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1696 363-590-051 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1697 363-590-052 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1698 363-590-053 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1699 363-601-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1700 363-601-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1701 363-601-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1702 363-601-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1703 363-601-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1704 363-601-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1705 363-601-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1706 363-601-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1707 363-601-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1708 363-601-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1709 363-601-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1710 363-601-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1711 363-601-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1712 363-601-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1713 363-601-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1714 363-601-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1715 363-601-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1716 363-601-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1717 363-602-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1718 363-602-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1719 363-602-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1720 363-602-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1721 363-602-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1722 363-602-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-41
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1723 363-602-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1724 363-602-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1725 363-602-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1726 363-602-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1727 363-602-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1728 363-602-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1729 363-602-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1730 363-602-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1731 363-602-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1732 363-602-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1733 363-602-017 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1734 363-602-018 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1735 363-602-019 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1736 363-602-020 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1737 363-602-021 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1738 363-602-022 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1739 363-602-023 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1740 363-602-024 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1741 363-602-025 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1742 363-602-026 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1743 363-602-027 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1744 363-602-028 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1745 363-602-029 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1746 363-602-030 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1747 363-602-031 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1748 363-602-032 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1749 363-602-033 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1750 363-602-034 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1751 363-602-035 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1752 363-602-036 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1753 363-602-037 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1754 363-602-038 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1755 363-602-039 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1756 363-602-040 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1757 363-602-041 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1758 363-602-042 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1759 363-602-043 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1760 363-602-044 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1761 363-602-045 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1762 363-602-046 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1763 363-602-047 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1764 363-602-048 $5,492.07 $3,779.49 $3,777.70 ($1.79)
F-42
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1765 363-602-049 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1766 363-603-001 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1767 363-603-002 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1768 363-603-003 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1769 363-603-004 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1770 363-603-005 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1771 363-611-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1772 363-611-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1773 363-611-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1774 363-611-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1775 363-611-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1776 363-611-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1777 363-611-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1778 363-611-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1779 363-611-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1780 363-611-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1781 363-612-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1782 363-612-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1783 363-612-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1784 363-612-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1785 363-612-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1786 363-612-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1787 363-612-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1788 363-612-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1789 363-612-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1790 363-612-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1791 363-612-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1792 363-612-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1793 363-612-013 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1794 363-612-014 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1795 363-612-015 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1796 363-612-016 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1797 363-612-017 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1798 363-612-018 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1799 363-612-019 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1800 363-612-020 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1801 363-612-021 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1802 363-612-022 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1803 363-612-023 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1804 363-612-024 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1805 363-612-025 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1806 363-612-026 $5,492.07 $3,779.49 $3,777.70 ($1.79)
F-43
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1807 363-612-027 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1808 363-612-028 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1809 363-612-029 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1810 363-612-030 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1811 363-612-031 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1812 363-612-032 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1813 363-612-033 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1814 363-612-034 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1815 363-612-035 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1816 363-621-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1817 363-621-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1818 363-621-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1819 363-621-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1820 363-621-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1821 363-621-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1822 363-621-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1823 363-621-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1824 363-621-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1825 363-621-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1826 363-621-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1827 363-621-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1828 363-621-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1829 363-621-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1830 363-621-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1831 363-621-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1832 363-621-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1833 363-621-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1834 363-621-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1835 363-621-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1836 363-621-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1837 363-621-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1838 363-621-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1839 363-621-024 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1840 363-621-025 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1841 363-621-026 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1842 363-621-027 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1843 363-621-028 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1844 363-621-029 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1845 363-621-030 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1846 363-621-031 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1847 363-621-032 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1848 363-621-033 $5,492.07 $3,779.49 $3,777.70 ($1.79)
F-44
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1849 363-621-034 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1850 363-621-035 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1851 363-621-036 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1852 363-622-001 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1853 363-622-002 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1854 363-622-003 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1855 363-630-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1856 363-630-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1857 363-630-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1858 363-630-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1859 363-630-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1860 363-630-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1861 363-630-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1862 363-630-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1863 363-630-009 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1864 363-630-010 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1865 363-630-011 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1866 363-630-012 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1867 363-630-013 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1868 363-630-014 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1869 363-630-015 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1870 363-630-016 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1871 363-630-017 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1872 363-630-018 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1873 363-630-019 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1874 363-630-020 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1875 363-630-021 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1876 363-630-022 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1877 363-630-023 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1878 363-630-024 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1879 363-630-025 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1880 363-630-026 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1881 363-630-027 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1882 363-630-028 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1883 363-630-029 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1884 363-630-030 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1885 363-630-031 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1886 363-630-032 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1887 363-630-033 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1888 363-630-034 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1889 363-630-035 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1890 363-640-001 $3,661.38 $2,519.66 $2,518.47 ($1.19)
F-45
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1891 363-640-002 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1892 363-640-003 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1893 363-640-004 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1894 363-640-005 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1895 363-640-006 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1896 363-640-007 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1897 363-640-008 $3,661.38 $2,519.66 $2,518.47 ($1.19)
1898 363-651-001 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1899 363-651-002 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1900 363-651-003 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1901 363-651-004 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1902 363-651-005 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1903 363-651-006 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1904 363-651-007 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1905 363-651-008 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1906 363-651-009 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1907 363-651-010 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1908 363-651-011 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1909 363-651-012 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1910 363-651-013 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1911 363-651-014 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1912 363-652-001 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1913 363-652-002 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1914 363-652-003 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1915 363-652-004 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1916 363-652-005 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1917 363-652-006 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1918 363-652-007 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1919 363-652-008 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1920 363-652-009 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1921 363-652-010 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1922 363-652-011 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1923 363-652-012 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1924 363-652-013 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1925 363-652-014 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1926 363-652-015 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1927 363-652-016 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1928 363-652-017 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1929 363-652-018 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1930 363-652-019 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1931 363-652-020 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1932 363-652-021 $5,492.07 $3,779.49 $3,777.70 ($1.79)
F-46
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1933 363-652-022 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1934 363-652-023 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1935 363-652-024 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1936 363-652-025 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1937 363-652-026 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1938 363-652-027 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1939 363-652-028 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1940 363-652-029 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1941 363-652-030 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1942 363-652-031 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1943 363-652-032 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1944 363-652-033 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1945 363-652-034 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1946 363-652-035 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1947 363-652-036 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1948 363-652-037 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1949 363-652-038 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1950 363-652-039 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1951 363-652-040 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1952 363-652-041 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1953 363-652-042 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1954 363-652-043 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1955 363-652-044 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1956 363-652-045 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1957 363-652-046 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1958 363-652-047 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1959 363-652-048 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1960 363-652-049 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1961 363-652-050 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1962 363-652-051 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1963 363-652-052 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1964 363-661-001 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1965 363-661-002 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1966 363-661-003 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1967 363-661-004 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1968 363-661-005 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1969 363-661-006 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1970 363-661-007 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1971 363-661-008 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1972 363-661-009 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1973 363-661-010 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1974 363-661-011 $5,492.07 $3,779.49 $3,777.70 ($1.79)
F-47
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
1975 363-662-001 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1976 363-662-002 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1977 363-662-004 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1978 363-662-005 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1979 363-662-006 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1980 363-662-007 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1981 363-662-008 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1982 363-662-009 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1983 363-662-010 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1984 363-662-011 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1985 363-662-012 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1986 363-662-013 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1987 363-662-014 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1988 363-662-015 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1989 363-662-016 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1990 363-662-017 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1991 363-662-018 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1992 363-662-019 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1993 363-662-020 $5,492.07 $3,779.49 $3,777.70 ($1.79)
1994 363-680-007 $5,960.72 $4,102.00 $4,100.06 ($1.94)
1995 363-680-008 $5,960.72 $4,102.00 $4,100.06 ($1.94)
1996 363-680-009 $6,632.04 $4,563.98 $4,561.82 ($2.16)
1997 363-680-010 $6,632.04 $4,563.98 $4,561.82 ($2.16)
1998 363-680-011 $6,632.04 $4,563.98 $4,561.82 ($2.16)
1999 363-680-012 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2000 363-680-013 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2001 363-680-014 $5,960.72 $4,102.00 $4,100.06 ($1.94)
2002 363-681-006 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2003 363-681-007 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2004 363-681-008 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2005 363-681-009 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2006 363-681-010 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2007 363-681-011 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2008 363-681-012 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2009 363-681-013 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2010 363-681-014 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2011 363-681-015 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2012 363-681-016 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2013 363-681-017 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2014 363-681-018 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2015 363-681-019 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2016 363-681-020 $6,632.04 $4,563.98 $4,561.82 ($2.16)
F-48
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2017 363-681-021 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2018 363-681-022 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2019 363-681-023 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2020 363-681-024 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2021 363-681-025 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2022 363-682-001 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2023 363-682-002 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2024 363-682-003 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2025 363-682-004 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2026 363-682-005 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2027 363-682-006 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2028 363-682-007 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2029 363-683-001 $5,960.72 $4,102.00 $4,100.06 ($1.94)
2030 363-683-002 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2031 363-683-003 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2032 363-683-004 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2033 363-683-005 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2034 363-683-006 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2035 363-683-007 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2036 363-683-008 $5,960.72 $4,102.00 $4,100.06 ($1.94)
2037 363-683-009 $5,960.72 $4,102.00 $4,100.06 ($1.94)
2038 363-683-010 $5,960.72 $4,102.00 $4,100.06 ($1.94)
2039 363-683-011 $6,632.04 $4,563.98 $4,561.82 ($2.16)
2040 363-690-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2041 363-690-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2042 363-690-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2043 363-690-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2044 363-690-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2045 363-690-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2046 363-690-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2047 363-690-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2048 363-690-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2049 363-690-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2050 363-690-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2051 363-690-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2052 363-690-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2053 363-690-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2054 363-690-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2055 363-690-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2056 363-690-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2057 363-690-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2058 363-690-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-49
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2059 363-690-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2060 363-690-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2061 363-690-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2062 363-690-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2063 363-690-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2064 363-690-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2065 363-690-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2066 363-690-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2067 363-690-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2068 363-690-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2069 363-690-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2070 363-690-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2071 363-690-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2072 363-690-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2073 363-690-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2074 363-690-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2075 363-690-039 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2076 363-690-040 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2077 363-690-041 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2078 363-690-042 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2079 363-690-043 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2080 363-690-044 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2081 363-690-045 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2082 363-690-046 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2083 363-690-047 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2084 363-690-048 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2085 363-690-049 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2086 363-690-050 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2087 363-700-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2088 363-700-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2089 363-700-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2090 363-700-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2091 363-701-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2092 363-701-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2093 363-701-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2094 363-701-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2095 363-701-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2096 363-701-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2097 363-701-007 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2098 363-701-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2099 363-701-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2100 363-701-010 $6,390.20 $4,397.56 $4,395.47 ($2.08)
F-50
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2101 363-701-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2102 363-701-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2103 363-702-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2104 363-702-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2105 363-702-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2106 363-702-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2107 363-702-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2108 363-702-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2109 363-702-007 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2110 363-702-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2111 363-702-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2112 363-702-010 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2113 363-702-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2114 363-702-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2115 363-702-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2116 363-702-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2117 363-702-015 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2118 363-702-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2119 363-702-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2120 363-702-018 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2121 363-702-019 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2122 363-702-020 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2123 363-702-021 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2124 363-702-022 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2125 363-702-023 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2126 363-702-024 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2127 363-702-025 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2128 363-702-026 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2129 363-702-027 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2130 363-710-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2131 363-710-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2132 363-710-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2133 363-710-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2134 363-710-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2135 363-710-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2136 363-710-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2137 363-710-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2138 363-710-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2139 363-710-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2140 363-710-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2141 363-710-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2142 363-710-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-51
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2143 363-710-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2144 363-710-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2145 363-710-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2146 363-710-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2147 363-710-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2148 363-710-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2149 363-710-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2150 363-710-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2151 363-710-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2152 363-720-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2153 363-720-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2154 363-720-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2155 363-720-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2156 363-720-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2157 363-720-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2158 363-720-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2159 363-720-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2160 363-720-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2161 363-720-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2162 363-720-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2163 363-720-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2164 363-720-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2165 363-720-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2166 363-720-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2167 363-720-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2168 363-720-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2169 363-720-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2170 363-720-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2171 363-720-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2172 363-720-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2173 363-720-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2174 363-720-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2175 363-720-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2176 363-720-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2177 363-720-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2178 363-720-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2179 363-720-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2180 363-720-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2181 363-720-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2182 363-720-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2183 363-720-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2184 363-720-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-52
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2185 363-720-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2186 363-720-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2187 363-720-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2188 363-720-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2189 363-720-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2190 363-720-039 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2191 363-721-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2192 363-721-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2193 363-721-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2194 363-721-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2195 363-721-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2196 363-721-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2197 363-721-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2198 363-721-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2199 363-721-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2200 363-721-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2201 363-721-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2202 363-721-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2203 363-721-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2204 363-721-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2205 363-721-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2206 363-721-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2207 363-721-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2208 363-721-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2209 363-722-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2210 363-722-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2211 363-722-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2212 363-722-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2213 363-722-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2214 363-722-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2215 363-722-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2216 363-722-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2217 363-722-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2218 363-722-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2219 363-722-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2220 363-722-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2221 363-722-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2222 363-722-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2223 363-722-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2224 363-722-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2225 363-722-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2226 363-722-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-53
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2227 363-722-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2228 363-722-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2229 363-723-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2230 363-723-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2231 363-723-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2232 363-723-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2233 363-723-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2234 363-723-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2235 363-723-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2236 363-723-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2237 363-723-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2238 363-723-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2239 363-723-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2240 363-723-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2241 363-730-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2242 363-730-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2243 363-730-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2244 363-730-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2245 363-730-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2246 363-730-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2247 363-730-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2248 363-730-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2249 363-730-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2250 363-730-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2251 363-730-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2252 363-730-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2253 363-730-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2254 363-730-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2255 363-730-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2256 363-730-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2257 363-730-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2258 363-730-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2259 363-730-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2260 363-730-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2261 363-730-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2262 363-730-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2263 363-730-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2264 363-730-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2265 363-730-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2266 363-730-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2267 363-730-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2268 363-730-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-54
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2269 363-730-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2270 363-730-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2271 363-730-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2272 363-730-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2273 363-730-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2274 363-730-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2275 363-730-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2276 363-730-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2277 363-730-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2278 363-730-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2279 363-730-039 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2280 363-730-040 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2281 363-730-041 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2282 363-730-042 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2283 363-730-043 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2284 363-730-044 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2285 363-730-045 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2286 363-730-046 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2287 363-730-047 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2288 363-730-051 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2289 363-730-052 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2290 363-730-053 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2291 363-730-054 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2292 363-730-055 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2293 363-730-056 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2294 363-730-057 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2295 363-730-058 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2296 363-730-059 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2297 363-730-060 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2298 363-730-061 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2299 363-730-062 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2300 363-730-063 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2301 363-730-064 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2302 363-730-065 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2303 363-730-066 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2304 363-730-067 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2305 363-730-068 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2306 363-730-069 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2307 363-730-070 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2308 363-730-071 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2309 363-730-072 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2310 363-730-073 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-55
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2311 363-730-074 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2312 363-730-075 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2313 363-730-076 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2314 363-730-077 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2315 363-730-078 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2316 363-730-079 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2317 363-730-080 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2318 363-730-081 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2319 363-730-082 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2320 363-730-083 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2321 363-790-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2322 363-790-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2323 363-790-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2324 363-790-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2325 363-790-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2326 363-790-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2327 363-790-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2328 363-790-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2329 363-790-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2330 363-790-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2331 363-790-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2332 363-790-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2333 363-790-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2334 363-790-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2335 363-790-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2336 363-790-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2337 363-790-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2338 363-790-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2339 363-790-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2340 363-790-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2341 363-790-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2342 363-790-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2343 363-790-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2344 363-790-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2345 363-790-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2346 363-791-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2347 363-791-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2348 363-791-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2349 363-791-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2350 363-791-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2351 363-791-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2352 363-791-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-56
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2353 363-791-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2354 363-791-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2355 363-791-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2356 363-791-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2357 363-791-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2358 363-791-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2359 363-791-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2360 363-791-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2361 363-791-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2362 363-791-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2363 363-791-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2364 363-791-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2365 363-791-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2366 363-791-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2367 363-791-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2368 363-800-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2369 363-800-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2370 363-800-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2371 363-800-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2372 363-800-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2373 363-800-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2374 363-800-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2375 363-800-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2376 363-800-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2377 363-800-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2378 363-800-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2379 363-800-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2380 363-800-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2381 363-800-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2382 363-800-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2383 363-800-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2384 363-800-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2385 363-800-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2386 363-800-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2387 363-800-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2388 363-800-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2389 363-800-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2390 363-800-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2391 363-800-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2392 363-800-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2393 363-800-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2394 363-800-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-57
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2395 363-800-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2396 363-800-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2397 363-800-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2398 363-800-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2399 363-800-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2400 363-800-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2401 363-800-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2402 363-800-039 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2403 363-800-040 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2404 363-800-041 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2405 363-800-042 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2406 363-800-043 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2407 363-800-044 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2408 363-800-045 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2409 363-800-046 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2410 363-800-047 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2411 363-800-048 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2412 363-800-049 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2413 363-800-050 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2414 363-801-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2415 363-801-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2416 363-801-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2417 363-801-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2418 363-801-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2419 363-801-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2420 363-801-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2421 363-801-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2422 363-801-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2423 363-801-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2424 363-801-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2425 363-801-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2426 363-801-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2427 363-801-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2428 363-801-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2429 363-801-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2430 363-801-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2431 363-801-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2432 363-801-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2433 363-801-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2434 363-801-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2435 363-801-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2436 363-802-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-58
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2437 363-802-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2438 363-802-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2439 363-802-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2440 363-802-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2441 363-802-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2442 363-803-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2443 363-803-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2444 363-803-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2445 363-803-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2446 363-810-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2447 363-810-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2448 363-810-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2449 363-810-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2450 363-810-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2451 363-810-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2452 363-810-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2453 363-810-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2454 363-810-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2455 363-810-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2456 363-810-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2457 363-810-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2458 363-810-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2459 363-810-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2460 363-810-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2461 363-810-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2462 363-810-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2463 363-810-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2464 363-810-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2465 363-810-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2466 363-810-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2467 363-810-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2468 363-810-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2469 363-810-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2470 363-810-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2471 363-810-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2472 363-810-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2473 363-810-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2474 363-810-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2475 363-810-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2476 363-810-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2477 363-810-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2478 363-810-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-59
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2479 363-810-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2480 363-810-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2481 363-820-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2482 363-820-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2483 363-820-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2484 363-820-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2485 363-820-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2486 363-820-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2487 363-820-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2488 363-820-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2489 363-820-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2490 363-820-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2491 363-820-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2492 363-820-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2493 363-820-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2494 363-820-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2495 363-820-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2496 363-820-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2497 363-820-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2498 363-820-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2499 363-820-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2500 363-820-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2501 363-820-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2502 363-820-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2503 363-820-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2504 363-820-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2505 363-820-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2506 363-820-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2507 363-820-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2508 363-820-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2509 363-820-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2510 363-820-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2511 363-820-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2512 363-820-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2513 363-820-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2514 363-820-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2515 363-820-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2516 363-820-036 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2517 363-820-037 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2518 363-820-038 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2519 363-820-039 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2520 363-820-040 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-60
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2521 363-820-041 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2522 363-820-042 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2523 363-820-043 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2524 363-820-044 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2525 363-820-045 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2526 363-820-046 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2527 363-820-047 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2528 363-820-048 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2529 363-820-049 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2530 363-820-050 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2531 363-820-051 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2532 363-820-052 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2533 363-820-053 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2534 363-820-054 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2535 363-820-055 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2536 363-820-056 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2537 363-820-057 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2538 363-820-058 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2539 363-820-059 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2540 363-820-060 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2541 363-820-061 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2542 363-820-062 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2543 363-820-063 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2544 363-820-064 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2545 363-820-065 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2546 363-820-066 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2547 363-820-067 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2548 363-820-068 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2549 363-820-069 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2550 363-820-070 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2551 363-820-071 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2552 363-820-072 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2553 363-820-073 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2554 363-830-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2555 363-830-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2556 363-830-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2557 363-830-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2558 363-830-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2559 363-830-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2560 363-830-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2561 363-830-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2562 363-830-010 $6,390.20 $4,397.56 $4,395.47 ($2.08)
F-61
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2563 363-830-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2564 363-830-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2565 363-830-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2566 363-830-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2567 363-830-015 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2568 363-830-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2569 363-830-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2570 363-831-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2571 363-831-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2572 363-831-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2573 363-831-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2574 363-831-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2575 363-831-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2576 363-831-007 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2577 363-831-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2578 363-831-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2579 363-831-010 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2580 363-831-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2581 363-831-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2582 363-831-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2583 363-831-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2584 363-831-015 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2585 363-831-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2586 363-831-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2587 363-831-018 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2588 363-831-019 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2589 363-832-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2590 363-832-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2591 363-832-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2592 363-832-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2593 363-832-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2594 363-832-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2595 363-832-007 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2596 363-832-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2597 363-832-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2598 363-832-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2599 363-832-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2600 363-832-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2601 363-832-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2602 363-832-015 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2603 363-832-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2604 363-832-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
F-62
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2605 363-832-018 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2606 363-832-019 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2607 363-832-020 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2608 363-833-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2609 363-833-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2610 363-833-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2611 363-833-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2612 363-833-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2613 363-833-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2614 363-833-007 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2615 363-833-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2616 363-833-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2617 363-833-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2618 363-833-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2619 363-833-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2620 363-833-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2621 363-833-015 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2622 363-833-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2623 363-833-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2624 363-833-018 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2625 363-833-019 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2626 363-840-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2627 363-840-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2628 363-840-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2629 363-840-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2630 363-840-005 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2631 363-840-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2632 363-840-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2633 363-840-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2634 363-840-010 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2635 363-840-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2636 363-840-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2637 363-840-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2638 363-840-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2639 363-840-015 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2640 363-840-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2641 363-840-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2642 363-840-018 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2643 363-840-019 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2644 363-840-020 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2645 363-840-021 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2646 363-840-022 $6,390.20 $4,397.56 $4,395.47 ($2.08)
F-63
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2647 363-840-023 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2648 363-840-024 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2649 363-840-025 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2650 363-840-026 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2651 363-840-027 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2652 363-840-028 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2653 363-840-029 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2654 363-840-030 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2655 363-840-031 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2656 363-840-032 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2657 363-840-033 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2658 363-840-038 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2659 363-840-039 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2660 363-840-040 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2661 363-840-041 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2662 363-840-042 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2663 363-840-043 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2664 363-840-044 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2665 363-840-045 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2666 363-840-046 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2667 363-840-047 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2668 363-840-048 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2669 363-840-049 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2670 363-840-050 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2671 363-840-051 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2672 363-840-052 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2673 363-840-053 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2674 363-840-054 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2675 363-840-055 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2676 363-840-056 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2677 363-840-057 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2678 363-841-001 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2679 363-841-002 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2680 363-841-003 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2681 363-841-004 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2682 363-841-006 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2683 363-841-007 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2684 363-841-008 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2685 363-841-009 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2686 363-841-010 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2687 363-841-011 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2688 363-841-012 $6,390.20 $4,397.56 $4,395.47 ($2.08)
F-64
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2689 363-841-013 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2690 363-841-014 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2691 363-841-016 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2692 363-841-017 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2693 363-841-018 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2694 363-841-019 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2695 363-841-020 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2696 363-841-021 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2697 363-841-022 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2698 363-841-023 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2699 363-841-024 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2700 363-841-025 $6,390.20 $4,397.56 $4,395.47 ($2.08)
2701 363-850-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2702 363-850-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2703 363-850-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2704 363-850-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2705 363-850-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2706 363-850-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2707 363-850-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2708 363-850-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2709 363-850-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2710 363-850-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2711 363-850-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2712 363-850-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2713 363-850-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2714 363-851-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2715 363-851-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2716 363-851-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2717 363-851-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2718 363-851-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2719 363-851-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2720 363-852-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2721 363-852-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2722 363-852-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2723 363-852-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2724 363-852-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2725 363-852-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2726 363-852-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2727 363-852-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2728 363-852-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2729 363-852-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2730 363-852-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-65
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2731 363-852-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2732 363-852-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2733 363-852-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2734 363-852-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2735 363-852-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2736 363-852-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2737 363-852-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2738 363-852-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2739 363-852-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2740 363-852-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2741 363-852-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2742 363-852-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2743 363-852-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2744 363-852-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2745 363-852-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2746 363-852-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2747 363-852-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2748 363-852-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2749 363-852-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2750 363-852-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2751 363-860-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2752 363-860-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2753 363-860-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2754 363-860-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2755 363-860-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2756 363-860-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2757 363-860-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2758 363-860-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2759 363-860-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2760 363-860-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2761 363-861-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2762 363-861-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2763 363-861-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2764 363-861-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2765 363-861-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2766 363-861-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2767 363-861-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2768 363-861-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2769 363-861-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2770 363-861-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2771 363-861-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2772 363-862-001 $4,260.13 $2,931.70 $2,930.31 ($1.39)
F-66
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2773 363-862-002 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2774 363-862-003 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2775 363-862-004 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2776 363-862-005 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2777 363-862-006 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2778 363-862-007 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2779 363-862-008 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2780 363-862-009 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2781 363-862-010 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2782 363-862-011 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2783 363-862-012 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2784 363-862-013 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2785 363-862-014 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2786 363-862-015 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2787 363-862-016 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2788 363-862-017 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2789 363-862-018 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2790 363-862-019 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2791 363-862-020 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2792 363-862-021 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2793 363-862-022 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2794 363-862-023 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2795 363-862-024 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2796 363-862-025 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2797 363-862-026 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2798 363-862-027 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2799 363-862-028 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2800 363-862-029 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2801 363-862-030 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2802 363-862-031 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2803 363-862-032 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2804 363-862-033 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2805 363-862-034 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2806 363-862-035 $4,260.13 $2,931.70 $2,930.31 ($1.39)
2807 363-921-001 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2808 363-921-002 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2809 363-921-003 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2810 363-921-004 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2811 363-921-005 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2812 363-921-006 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2813 363-921-007 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2814 363-921-008 $2,846.90 $1,959.16 $1,958.23 ($0.93)
F-67
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2815 363-921-009 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2816 363-921-010 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2817 363-921-011 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2818 363-921-013 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2819 363-921-014 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2820 363-921-015 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2821 363-921-016 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2822 363-921-017 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2823 363-921-018 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2824 363-921-019 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2825 363-921-020 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2826 363-921-021 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2827 363-921-022 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2828 363-921-023 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2829 363-921-024 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2830 363-921-025 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2831 363-921-026 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2832 363-921-027 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2833 363-921-028 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2834 363-921-030 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2835 363-921-031 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2836 363-921-032 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2837 363-921-033 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2838 363-921-034 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2839 363-921-035 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2840 363-921-037 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2841 363-921-038 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2842 363-921-039 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2843 363-921-041 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2844 363-921-042 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2845 363-921-043 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2846 363-921-045 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2847 363-921-046 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2848 363-921-047 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2849 363-921-048 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2850 363-921-049 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2851 363-921-050 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2852 363-921-052 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2853 363-921-053 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2854 363-921-054 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2855 363-921-055 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2856 363-921-056 $2,846.90 $1,959.16 $1,958.23 ($0.93)
F-68
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2857 363-921-057 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2858 363-921-058 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2859 363-921-060 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2860 363-921-061 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2861 363-921-062 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2862 363-921-063 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2863 363-921-064 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2864 363-921-065 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2865 363-921-066 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2866 363-921-067 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2867 363-921-068 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2868 363-921-069 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2869 363-921-070 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2870 363-921-071 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2871 363-921-073 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2872 363-921-074 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2873 363-921-075 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2874 363-921-076 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2875 363-921-077 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2876 363-921-079 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2877 363-921-080 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2878 363-921-081 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2879 363-921-082 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2880 363-922-001 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2881 363-922-002 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2882 363-922-003 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2883 363-922-004 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2884 363-922-005 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2885 363-922-006 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2886 363-922-007 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2887 363-922-008 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2888 363-922-010 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2889 363-922-011 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2890 363-922-012 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2891 363-922-013 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2892 363-922-014 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2893 363-922-015 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2894 363-922-016 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2895 363-922-017 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2896 363-922-018 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2897 363-922-020 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2898 363-922-021 $2,846.90 $1,959.16 $1,958.23 ($0.93)
F-69
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2899 363-922-022 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2900 363-922-023 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2901 363-922-024 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2902 363-922-025 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2903 363-922-026 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2904 363-922-027 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2905 363-922-028 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2906 363-922-030 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2907 363-922-031 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2908 363-922-032 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2909 363-922-033 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2910 363-922-034 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2911 363-922-035 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2912 363-922-036 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2913 363-922-037 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2914 363-922-038 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2915 363-922-040 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2916 363-922-041 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2917 363-922-042 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2918 363-922-043 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2919 363-922-044 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2920 363-922-045 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2921 363-922-046 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2922 363-922-047 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2923 363-922-048 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2924 363-922-049 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2925 363-922-051 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2926 363-922-052 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2927 363-922-053 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2928 363-922-054 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2929 363-922-055 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2930 363-922-056 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2931 363-922-057 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2932 363-922-058 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2933 363-922-059 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2934 363-922-060 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2935 363-922-061 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2936 363-922-062 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2937 363-922-063 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2938 363-922-064 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2939 363-922-065 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2940 363-922-066 $2,846.90 $1,959.16 $1,958.23 ($0.93)
F-70
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2941 363-922-067 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2942 363-922-068 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2943 363-922-069 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2944 363-922-070 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2945 363-922-071 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2946 363-922-072 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2947 363-922-073 $2,846.90 $1,959.16 $1,958.23 ($0.93)
2948 363-922-075 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2949 363-922-076 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2950 363-922-077 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2951 363-922-078 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2952 363-922-079 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2953 363-922-080 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2954 363-922-081 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2955 363-922-082 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2956 363-922-083 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2957 363-922-084 $2,846.91 $1,959.16 $1,958.24 ($0.93)
2958 363-931-001 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2959 363-931-002 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2960 363-931-003 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2961 363-931-004 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2962 363-931-005 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2963 363-931-006 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2964 363-931-007 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2965 363-931-008 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2966 363-931-009 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2967 363-931-010 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2968 363-931-011 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2969 363-931-012 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2970 363-931-013 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2971 363-931-014 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2972 363-931-015 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2973 363-931-016 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2974 363-931-017 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2975 363-931-018 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2976 363-931-020 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2977 363-931-021 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2978 363-931-022 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2979 363-931-023 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2980 363-931-024 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2981 363-931-025 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2982 363-931-026 $3,340.52 $2,298.85 $2,297.76 ($1.09)
F-71
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
2983 363-931-027 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2984 363-931-028 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2985 363-931-029 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2986 363-931-030 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2987 363-931-031 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2988 363-931-032 $3,340.52 $2,298.85 $2,297.76 ($1.09)
2989 363-931-033 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2990 363-931-034 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2991 363-931-035 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2992 363-931-036 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2993 363-931-037 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2994 363-931-038 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2995 363-931-039 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2996 363-931-041 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2997 363-931-042 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2998 363-931-043 $3,340.51 $2,298.85 $2,297.76 ($1.09)
2999 363-931-044 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3000 363-931-045 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3001 363-931-046 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3002 363-931-047 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3003 363-931-048 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3004 363-931-049 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3005 363-931-050 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3006 363-931-051 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3007 363-931-052 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3008 363-931-053 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3009 363-931-054 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3010 363-931-055 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3011 363-931-056 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3012 363-931-057 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3013 363-931-059 $3,340.50 $2,298.84 $2,297.75 ($1.09)
3014 363-931-060 $3,340.50 $2,298.84 $2,297.75 ($1.09)
3015 363-931-061 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3016 363-931-062 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3017 363-931-063 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3018 363-931-064 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3019 363-931-065 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3020 363-932-001 $3,340.50 $2,298.84 $2,297.75 ($1.09)
3021 363-932-002 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3022 363-932-003 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3023 363-932-004 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3024 363-932-005 $3,340.51 $2,298.85 $2,297.76 ($1.09)
F-72
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3025 363-932-006 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3026 363-932-007 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3027 363-932-008 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3028 363-932-009 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3029 363-932-010 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3030 363-932-011 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3031 363-932-012 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3032 363-932-013 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3033 363-932-014 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3034 363-932-015 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3035 363-932-016 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3036 363-932-017 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3037 363-932-018 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3038 363-932-019 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3039 363-932-021 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3040 363-932-022 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3041 363-932-023 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3042 363-932-024 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3043 363-932-025 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3044 363-932-026 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3045 363-932-027 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3046 363-932-028 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3047 363-932-029 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3048 363-932-030 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3049 363-932-031 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3050 363-932-032 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3051 363-932-033 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3052 363-932-034 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3053 363-932-035 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3054 363-932-036 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3055 363-932-037 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3056 363-932-038 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3057 363-932-039 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3058 363-932-040 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3059 363-932-041 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3060 363-932-043 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3061 363-932-044 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3062 363-932-045 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3063 363-932-046 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3064 363-932-047 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3065 363-932-048 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3066 363-932-049 $3,340.51 $2,298.85 $2,297.76 ($1.09)
F-73
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3067 363-932-050 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3068 363-932-051 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3069 363-932-052 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3070 363-932-053 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3071 363-932-054 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3072 363-932-055 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3073 363-932-056 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3074 363-932-057 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3075 363-932-058 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3076 363-932-059 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3077 363-932-060 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3078 363-932-061 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3079 363-932-062 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3080 363-932-064 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3081 363-932-065 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3082 363-932-066 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3083 363-932-067 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3084 363-932-068 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3085 363-932-069 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3086 363-932-070 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3087 363-932-071 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3088 363-933-001 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3089 363-933-002 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3090 363-933-003 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3091 363-933-004 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3092 363-933-005 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3093 363-933-006 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3094 363-933-007 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3095 363-933-008 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3096 363-933-009 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3097 363-933-010 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3098 363-933-011 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3099 363-933-012 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3100 363-933-013 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3101 363-933-014 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3102 363-933-015 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3103 363-933-016 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3104 363-933-017 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3105 363-933-018 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3106 363-933-019 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3107 363-933-020 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3108 363-933-021 $3,340.51 $2,298.85 $2,297.76 ($1.09)
F-74
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3109 363-933-022 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3110 363-933-024 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3111 363-933-025 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3112 363-933-026 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3113 363-933-027 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3114 363-933-028 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3115 363-933-029 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3116 363-933-030 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3117 363-933-031 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3118 363-933-032 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3119 363-933-033 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3120 363-933-034 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3121 363-933-035 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3122 363-933-036 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3123 363-933-037 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3124 363-933-038 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3125 363-933-039 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3126 363-933-040 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3127 363-933-041 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3128 363-933-042 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3129 363-933-043 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3130 363-933-045 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3131 363-933-046 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3132 363-933-047 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3133 363-933-048 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3134 363-933-049 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3135 363-933-050 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3136 363-933-051 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3137 363-933-052 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3138 363-933-053 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3139 363-933-054 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3140 363-933-055 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3141 363-933-056 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3142 363-933-057 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3143 363-933-058 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3144 363-933-059 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3145 363-933-060 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3146 363-933-061 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3147 363-933-062 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3148 363-940-011 $110,043.07 $75,728.56 $75,692.71 ($35.86)
3149 363-941-001 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3150 363-941-002 $2,672.41 $1,839.08 $1,838.21 ($0.87)
F-75
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3151 363-941-003 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3152 363-941-004 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3153 363-941-005 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3154 363-941-006 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3155 363-941-007 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3156 363-941-008 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3157 363-941-009 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3158 363-941-010 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3159 363-941-011 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3160 363-941-012 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3161 363-941-013 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3162 363-941-014 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3163 363-941-015 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3164 363-941-016 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3165 363-941-017 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3166 363-941-018 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3167 363-941-019 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3168 363-941-020 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3169 363-941-021 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3170 363-941-023 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3171 363-941-024 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3172 363-941-025 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3173 363-941-026 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3174 363-941-027 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3175 363-941-028 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3176 363-941-029 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3177 363-941-030 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3178 363-941-031 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3179 363-941-032 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3180 363-941-033 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3181 363-941-034 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3182 363-941-035 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3183 363-941-036 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3184 363-941-037 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3185 363-941-038 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3186 363-941-039 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3187 363-941-040 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3188 363-941-041 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3189 363-941-042 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3190 363-941-043 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3191 363-941-044 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3192 363-941-045 $2,672.41 $1,839.08 $1,838.21 ($0.87)
F-76
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3193 363-941-047 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3194 363-941-048 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3195 363-941-049 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3196 363-941-050 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3197 363-941-051 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3198 363-941-052 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3199 363-941-053 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3200 363-941-054 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3201 363-941-055 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3202 363-941-056 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3203 363-941-057 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3204 363-941-058 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3205 363-941-059 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3206 363-941-060 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3207 363-941-061 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3208 363-941-062 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3209 363-941-063 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3210 363-941-064 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3211 363-941-065 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3212 363-941-066 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3213 363-941-067 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3214 363-941-068 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3215 363-941-069 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3216 363-941-070 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3217 363-941-071 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3218 363-941-073 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3219 363-941-074 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3220 363-941-075 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3221 363-941-076 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3222 363-941-077 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3223 363-941-078 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3224 363-942-001 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3225 363-942-002 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3226 363-942-003 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3227 363-942-004 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3228 363-942-005 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3229 363-942-006 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3230 363-942-007 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3231 363-942-008 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3232 363-942-009 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3233 363-942-010 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3234 363-942-011 $2,672.41 $1,839.08 $1,838.21 ($0.87)
F-77
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3235 363-942-012 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3236 363-942-013 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3237 363-942-014 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3238 363-942-015 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3239 363-942-016 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3240 363-942-017 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3241 363-942-018 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3242 363-942-019 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3243 363-942-020 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3244 363-942-021 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3245 363-942-022 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3246 363-942-023 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3247 363-942-024 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3248 363-942-025 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3249 363-942-026 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3250 363-942-028 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3251 363-942-029 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3252 363-942-030 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3253 363-942-031 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3254 363-942-032 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3255 363-942-033 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3256 363-942-034 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3257 363-942-035 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3258 363-942-036 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3259 363-942-037 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3260 363-942-038 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3261 363-942-039 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3262 363-942-040 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3263 363-942-041 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3264 363-942-042 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3265 363-942-043 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3266 363-942-044 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3267 363-942-045 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3268 363-942-046 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3269 363-942-047 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3270 363-942-048 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3271 363-942-049 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3272 363-942-050 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3273 363-942-051 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3274 363-942-052 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3275 363-942-054 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3276 363-942-055 $2,672.41 $1,839.08 $1,838.21 ($0.87)
F-78
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3277 363-942-056 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3278 363-942-057 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3279 363-942-058 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3280 363-942-059 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3281 363-942-060 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3282 363-942-061 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3283 363-942-062 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3284 363-942-063 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3285 363-942-064 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3286 363-942-065 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3287 363-942-066 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3288 363-942-067 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3289 363-942-068 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3290 363-942-069 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3291 363-942-070 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3292 363-942-071 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3293 363-942-072 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3294 363-942-073 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3295 363-942-074 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3296 363-943-001 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3297 363-943-002 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3298 363-943-003 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3299 363-943-004 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3300 363-943-005 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3301 363-943-006 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3302 363-943-007 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3303 363-943-008 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3304 363-943-009 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3305 363-943-010 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3306 363-943-011 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3307 363-943-012 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3308 363-943-013 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3309 363-943-014 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3310 363-943-015 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3311 363-943-016 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3312 363-943-017 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3313 363-943-018 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3314 363-943-019 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3315 363-943-020 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3316 363-943-021 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3317 363-943-022 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3318 363-943-023 $3,340.51 $2,298.85 $2,297.76 ($1.09)
F-79
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3319 363-943-025 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3320 363-943-026 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3321 363-943-027 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3322 363-943-028 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3323 363-943-029 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3324 363-943-030 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3325 363-943-031 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3326 363-943-032 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3327 363-943-033 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3328 363-943-034 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3329 363-943-035 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3330 363-943-037 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3331 363-943-038 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3332 363-943-039 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3333 363-943-040 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3334 363-943-041 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3335 363-943-042 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3336 363-943-043 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3337 363-943-044 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3338 363-943-045 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3339 363-943-046 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3340 363-943-047 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3341 363-943-049 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3342 363-943-050 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3343 363-943-051 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3344 363-943-052 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3345 363-943-053 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3346 363-943-054 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3347 363-943-055 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3348 363-943-056 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3349 363-943-057 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3350 363-943-058 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3351 363-943-059 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3352 363-943-060 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3353 363-943-061 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3354 363-943-062 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3355 363-943-063 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3356 363-943-064 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3357 363-943-065 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3358 363-943-066 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3359 363-943-067 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3360 363-943-068 $3,340.51 $2,298.85 $2,297.76 ($1.09)
F-80
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3361 363-943-069 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3362 363-943-071 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3363 363-943-072 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3364 363-943-073 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3365 363-943-074 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3366 363-943-075 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3367 363-943-076 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3368 363-943-077 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3369 363-943-078 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3370 363-943-079 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3371 363-943-080 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3372 363-943-081 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3373 363-943-082 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3374 363-943-083 $3,340.51 $2,298.85 $2,297.76 ($1.09)
3375 363-944-001 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3376 363-944-002 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3377 363-944-003 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3378 363-944-004 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3379 363-944-005 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3380 363-944-006 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3381 363-944-007 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3382 363-944-008 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3383 363-944-009 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3384 363-944-010 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3385 363-944-011 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3386 363-944-012 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3387 363-944-013 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3388 363-944-014 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3389 363-944-015 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3390 363-944-016 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3391 363-944-017 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3392 363-944-018 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3393 363-944-019 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3394 363-944-020 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3395 363-944-022 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3396 363-944-023 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3397 363-944-024 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3398 363-944-025 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3399 363-944-026 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3400 363-944-027 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3401 363-944-028 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3402 363-944-029 $2,672.41 $1,839.08 $1,838.21 ($0.87)
F-81
City of Lake Elsinore
Reassessment District No.2021-1
Limited Obligation Refunding Bonds
Auditor's Reassessment Roll
Original Remaining
New Reassesssment Assessor Parcel Original Principal Remaining Revised Remaining Principal
Number Number Amount Principal Principal Difference
3403 363-944-030 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3404 363-944-031 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3405 363-944-032 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3406 363-944-033 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3407 363-944-035 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3408 363-944-036 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3409 363-944-037 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3410 363-944-038 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3411 363-944-039 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3412 363-944-040 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3413 363-944-041 $2,672.41 $1,839.08 $1,838.21 ($0.87)
3414 363-944-042 $2,672.41 $1,839.08 $1,838.21 ($0.87)
Total 3,414 $15,345,000.00 $10,560,000.00 $10,555,000.00 ($5,000.00)
F-82
EXHIBIT G
Reassessment Diagram
O
SPICER CONSULTING
G R O U P
Reassessment District No. 2021-1(Canyon Hills)
EXHIBIT G
Reassessment Diagram
The Reassessment Diagram showing the Assessment District and the boundaries and dimensions of the subdivisions of land
within the District is shown on the following pages.
City of Lake Elsinore
416s�>� Reassessment Engineer's Report
SPICER CONSULTING
G R O U P
I HEREBY CERTIFY THAT THE WITHIN MAP SHOWING REASSESSMENT DIAGRAM SHEET 1 OF 24 SHEETS
PROPOSED BOUNDARIES OF REASSESSMENT DISTRICT
NO. (CANYON HILLS), CITY OF LAKE REASSESSMENT DISTRICT NO. 2021-1
COUNTYTY O OF RIVERSIDE, STATE OF CALIFORNIA,IA WAS
APPROVED BY THE CITY COUNCIL OF THE CITY OF (CANYON HILLS)
LAKE ELSINORE AT A REGULAR MEETING THEREOF,HELD ON DAY OF 20- BY (LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
RESOLUTION NO. CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
CITY CLERK
CITY OF LAKE ELSINORE
FILED IN THE OFFICE OF THE CITY CLERK, CITY OF LAKE
ELSINORE,
THIS DAY OF 20
CITY CLERK
CITY OF LAKE ELSINORE
RECORDED THIS_DAY OF .20 AT SHEET 3 SHEET 9 SHEET 16
THE HOUR OF O'CLOCK _M IN BOOK
PAGE_OF MAPS OF ASSESSMENT AND COMMUNITY 0ffi SHEET 11
FACILITIES DISTRICTS IN THE OFFICE OF THE COUNTY SHEET4 SHEET I4
RECORDER, IN THE COUNTY OF RIVERSIDE, STATE OF j , ® SHEET 15
CALIFORNIA. SHEET 2
FEE: NO.:
1tAi:L-Tt-OA SHEET 10
PETER ALDANA, ASSESSOR, COUNTY CLERK, RECORDER SHEET7 SHEET I3
SHEET8 /V
BY: SHEET 17
DEPUTY �®
_ v SHEET 5 SHEET 1
ti, i SHEET 6
"i
LAKE ELSINORE
a,
RAD 2021-1
'4. •4E r � i...
LEGEND
PROPOSED REASSESSMENT DISTRICT N
THIS ASSESSMENT DIAGRAM CORRECTY SHOWS THE
C PARCEL BOUNDARY
BOUNDARIES OF THE ASSESSMENT DISTRICT. FOR WE
DETAILS CONCERNING THE LINES AND DIMENSIONS OF V
SPICER CONSULTING LOTS OR PARCELS REFER TO THE COUNTY ASSESSOR'S -----• CITY BOUNDARY
c B o u P MAPS FOR FISCAL YEAR 2020-21. S
SHEET 2 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
SHEET 3
319
.12
.311
3— 3340
17
3370
MW
3193
31.
.17
. a+
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.173
31.
SHEET 4
P�
�O
a+m 3231
LEGEND
PROPOSED REASSESSMENT DISTRICT N
C& PARCEL BOUNDARY W^a E
SPICER CONSULTING -----• CITY BOUNDARY
G R O U P S
SHEET 3 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
3 110 311i
3- 312a
3121
009
3 2 3122
3001
9007 3113 23 3130
3131
BB9 3127 3132
3010 3126 3133
2.7 11
089 3146
04 , 0i
2 0
31.
3012 3066 5 3106 1
2980 3109 3144 3145
] 2 306i 13ie
3�i6 9086 3099 3
100
5 31ol 3— 3103
143 3130 �O
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3005 07 3199
Q=
2- 2- 5 1377
mi 30Bi 3096 3095 3091 309 3045
2992 972 —33063 3020 2 30d4
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2 2999 3040 g
03.7 3023
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301 .17 3095 33033
3024 13.
29]6
3— 1373
3080
30153014 3020 302] 3025 3050 13i5
1372
/ SHEET 2 SHEET 5
LEGEND
PROPOSED REASSESSMENT DISTRICT N
C& PARCEL BOUNDARY W+Ej
SPICER CONSULTING -----• CITY BOUNDARY S
G R O U P
SHEET 4 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
1379
SHEET 3
1382
1380
0
Q� 1383 4+
O$
Ve 1381
Q
4
1384
1385
V
LEGEND
/y PROPOSED REASSESSMENT DISTRICT N
4>0 �\~ PARCEL BOUNDARY W+
SPICERCODNSULTING /� -----• CITY BOUNDARY G R p S
SHEET 5 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA y
v V' P4
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LEGEND
PROPOSED REASSESSMENT DISTRICT N
C& PARCEL BOUNDARY W+Ej
SPICER CONSULTING -----• CITY BOUNDARY S
G R O U P
SHEET 6 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
q Efl'`� C I I I I I JJ� zCEDAR1�CREE�CC
,�. REEK LN
SHEET 8
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LEGEND
PROPOSED REASSESSMENT DISTRICT N
C& PARCEL BOUNDARY W+E
SPICER CONSULTING -----• CITY BOUNDARY S
G R O U P
SHEET 7 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
'V � ^N 1397
�V 1395 1398E 1390
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N
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cn PROPOSED REASSESSMENT DISTRICT N
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4>0 [A PARCEL BOUNDARY �i E
z
SPICEIR c o p NSULTING H -----• CITY BOUNDARY S
SHEET 8 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
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2256 0 'rlLG 2246 2297 2305 2500
�� 2247 2296 2306 2499
`4py1 ti ryp0h 01 '1?�y`L 2248 �� Q4' 2307 2498 hbyp ryb� bU
ti0� ryh yy `� 2294 2908 2497 [.V
�yh ,yp pyy 2251 2249 2289 �Q 2309 2496 2539 ^ lAlp- 2463
'Lp� 9 ti �ry 9 2250 2292 0� 2310 2495 `1h rybh b`tf RRY 2484
`�y yti 22921 04V 2311 2494 2503 h rybhh b LN 2485
,y ry o,`h5
�i 2290 2452 2466
o� R 2289 2313 2492 ry hh ryy�yo 2451 2467
h� V� 2288 231514 249091 2519 2450
2468
LO��Ary ryy�ryh�ti
V4V yo4i 2318 2489 �v ^y m 2511 2448
2468 N h 2512 2447 2468
ph1 kd9R 2520 a � 2514 2513 2446 2470
m
w w CREEk v`N' 2473
v ^�
CEDAR CRBEK 2474
N 2475
m u N > 2476
�N�N eicis Po w LEGEND
Pb
CO SHEETC PROPOSED REASSESSMENT DISTRICT N
PARCEL BOUNDARY W+
SPICERCODNSULTING U ____.. CITY BOUNDARY G R P
S
SHEET 9 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
B,I�...�GEEE UR
DESERT ROSE WAY
m5 ze,s zws mas�� zss.
zew mm zws:eaa zem"`s zsm f was
ze>z zw, zm� zem zmz
zses
u SU O
a o s zsss NCREST DR
s � s,s zs,z zs,z za„ ze,o PALMS �
's REDBERRY
GO`t
G`t
mz O`O�`yy0 znoQ¢ Q4
anaa���yS1Q4' O-41
�O�S
SHEET10
LEGEND
PROPOSED REASSESSMENT DISTRICT N
C& PARCEL BOUNDARY W+Ej
SPICER CONSULTING -----• CITY BOUNDARY S
G R O U P
SHEET 10 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
SHEET 9
2866 296]2-2e69 28]0 290) 7 2386 2374 2373
882 2863 2gg4 28a5 2800 2888 _12385 2393 2392 2381
CANYON RIM CIF 2e+o .12 23ee z3]5 23)2 °61 zado 2
2916 a 2639 2437
2859 T84 2015 2013
2859 2gg0 28a1 2818 2399 � 2304 23]1 2d3fi
—1 All
2a5) 23
2848 285o T851 2285 2844 2.1 20]6 2b)+ 2390 2.3 2— 2370
2865 2- 28]] ze]2 JQ`�w 2 23)0 Q� P 2394 2385 2396 23
2a 3
9] 2398 y,yy 2408 2401 2402
2855 283
20]8
zaze S DR
2846 284]2- 2854 2031 28]8 2874 .10 —1 23)9 4(V NAP BLOSSOM
203]2839 288 2853 2982 2828 29)5 2d15 2380 (��4 —9 2d0a 2405 2�6 2403
2852 2833 2827 2816 2352 2618 ' 10 z409 2408
.1] 2 240) fx~"1
2819
2351 358 41 2412 2°1 24 O
2410
2836 2835 2834 82o 2
23532— �[yl RD 2435
202a 024 2d19 CANYON SHEET 11
2823 2822 2.1Q4' 2428 2432 2433 2434 G"
2945 29d8 294] 28252
2882 2954 2 80 2421 2428 2428 z°30 2431
2803 2gg4 2e8 208a CV2- 2422 2625 2428
.27
2355 2423
2867 [., 2— 2385 213 2 )2 ]1
2944 V CJ 7
6 )d ]3
2943 295] 2915 2910 289) 2900 2358 234] 2366 2362 ]8 88 89 6) fib BS 86 63 of )0 )+
2959 2916 235)
2942 2913 2890 zeal z34e z3e) z361 DEERGRASS WAY
2— .1]
2.159 50
2912 2899 2808 2358 .� U 1B 31 32 54 55 56
54 2919 W 2331 2.2
+] 33
2860 2911 2800 2e89 W 2345 2 9 30
2953 2919 2359 9 1fi 19 9 34 50 09 4]
2838 2910 2901 2890 2330 2333 O 3 29 51
2— 2920 23°° 20
2838 9 2802 2881 23a0 � � 15 � 28 35
-1 2.1 908 2903 2329 2334 ¢ 2343 4 21 CHAPAROSSA DR
293) g
2950 2922
293a 2893
) 2996 PARKVIEW LN z32e 2335 234z 13
2848 2823 280 6 3) 4fi
2908 2905 2— 2321 �.i36 � 23 26 4+ 42 d4 45
2968 2926 2- 2.130 39
2934 2895 .22 8 26 25
2.6 233]
2833 2896 2823 2340 10
2932 2931 2838 2829 292a 292]2926 2925 2339 2338 8 —_
zaz4 z3zs HILLS RD
CANYON
LEGEND 3,
PROPOSED REASSESSMENT DISTRICT LJi `V
4>0 PARCEL BOUNDARY �^
s C'
SPICER CONSULTING -----• CITY BOUNDARY
G R O P
SHEET 11 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
2.
255 2d0
254 242 241
253 247 246 245 241 -1238
2. 251 2. 249 248 218 215
230 214
BLOSSOMS DR 217
2468 1]9 210 T13
286 ZB] 270 1]d 1B -lCV4 212
x 2444 20] 280 2oo
171 S-
X
23] �.A`� C� 211 250 259 2fi1 262 263 271 2. 1]5 `VV'' mo
210
CANYON RIM RD zada n2 2. m ,w zo, `l•
"� C„ 169 15B
8 E .2
c' -21zz 121 120 ns 3 2. Y no RD z3o zae
RIDGB
123 1. 2.
121
SHEET 10 Z 129 128 1 26 120 118 274 23 n r1 HEATHER 2. 22] 220 2. 231 pa 1. 2. 207
132 131 130
„] 1fi5 9
2]5 1.1fi2 22. "�' 20.5
WAY 109 161 208
DEERGRASS 16 160 1]0 ,58 159
108 „o
5]
10] 1,5 ' 225
79 'm 'u 105 fob B 151 150 169 1 147 2. 223 222 �1 220 ,95 181
Ill ,53 ,52
00 114 160 '� 155 ,56 ,83
81 112 „3
101
02 102 loll 100 99 B8 9] 9 ,92
GHAPAROSSA DR ,a4 145 146 1e2 lea ,aa 5 186
e]
p � 1. 141 ,dz
CT an ,a] 1' ' ,eo
[,1 133 1-
85 � � � �
H HILLS RD
c CANYON
7y
SHEET14 /�
LEGEND
PROPOSED REASSESSMENT DISTRICT `Y
4>0 PARCEL BOUNDARY
s
SPICER CONSULTING -----• CITY BOUNDARY
G R O P
SHEET 12 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
CAMELINA ST
331
332
SHEET 13
395
336
] z]e HILLSIDE DR
a] 81 Zee
3W 639 690 fi41 643 fifi3 fi64 694 BBs 693 89p 695 696
585
314 286 289 V 289 eM 665
17
205 a 290 2% fi61
F 880 601 ] 691 e80 888 660 a �p 5e1
316 zed ZINNIA z97 fiw 64e a au ws ans " fi37 Sea sae
SILKTASSEL RD
283 2. SDNDEW 859
321 292 293 294 295 6 '�
282 851
8]2 e]5 5]4
656 5]5 5]8 550
492 401 652 856 855 85 5]0 509
5 32(I 281 383 653 5]6 5P
40Dqq] 5]1
338 341 343 343 38p 4s1 0 q49 .8
a a� 445 H3 4p2 p40 439 4 6 63]436 p 4 433 632 5]2 555 558
318 2 901
Sae za0 4. DIANTHUS LN
AGALIYA � 3n 3 z]e aes �DYFERN �a]e a]a
.4 330 30] 377 p53 459 471 462 493 48p 685 4 Is] 460 de 28 420
309 2 4]9 R1
326 3] 320 329 454
325
2 ME`'P 39] 360 391 � 3]5 550 548
AR as
CED 393 3B2 3)4 058 1 3]0 4 e 400 40] 486 485 483 4 4e0 4P
490 518
aaa a49 CORKTREE RD
350 514
353
54]
351 �
352 359 3 381 383 yfiq 365 3 a 368 p 545
356 355 35a �] 493 494g5 498 p 498 d 500 501 502 500 505
A
LEGEND
PROPOSED REASSESSMENT DISTRICT N
C PARCEL BOUNDARY 'vi L
SPICEGR BCONSULTING --— CITY BOUNDARY S
SHEET 13 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
y r\� SHEET14
A� ]31 ]85
]09
]32 7.]8]
]39 74o Bycop9 789]99
_qS 9 F 741 '91
q3'" ]za ENNEL 99 ]99 Cr
]2 ]22 M1]p ]e
SHEET10
],9
710 ]BB ]99
^C � ]1]]18 ]15 a� ]95
-1 819
9G�,o C> 1y5 am
A Q.~ e21
�9 /l, O3 812 813 814 816
l 923 �
CARAWAY CT
w
404
4. 809 V ax E29 820 8z7 095
40] 800 :5
4ae 531 530 832 033 034 836
80] � 93]g4g
4. 532 TULSI
410 y3 B05 CT
411 8 3 8 3
623 534 52B a+7 84,840
09
413 535 `�^ 529 818 830 B0
425424 � 536 92Q 52] 628 624 823 822 821
414 428 422 .y9 6� 6� a 620 SHEET17
�P Mg e,9
4,s }A 4z1 �]s3e ub ez] ROg�
416 4p �i �e 810 8
Of] Q 513 5a2 539
-II 524 029 it 812
419 .1 510 2 521 ] 636 813 1�.
419 3 635 634 633 832 831 630 829 fi09 814
408
508 60] 815 CAMELINA ST fi06
5oe
510 811
fi05 010
512 513 514 515 516 81] 51a 519 520 500 509 590 591 592 593 584 595 596 59] 390 fiO4 fit]
348 �9 81a
000
313 E03
312 601
311
310 309 300 307 900 305 304 -3 302 ]OB ]0] ]OB 705 ] 703 ]02 ]01 ]00 099 698 69] 802 714 3 ]1] 711 710 ]09 568
56]
566
HILLSIDE DR sas
SHEET12 .3 LEGEND
� 362
,Fj 56, PROPOSED REASSESSMENT DISTRICT N
� ZINNIA
s>o s�
C SUNDEW $ TASSEi�R 5� � PARCEL BOUNDARY E
SPICE�RROO U pLTIN (�4 �� -----• CITY BOUNDARY S
SHEET 14 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
49 eoe
9,9 908
912 911 ^C 90]
rif� �OV<V 913 QVNx 908
O
914 92]
"'�4- 928 BOs
915
�4VP 40 szs 90d
9.
Q�9tt 916 903
�P yS azd
BL SSQ COL .2
D�0 Q4o tti 918 923 93, 03
OR (i,Q' yO� 912 932 901 Oy� O
V z
920 921 836 933 Q� F�
870
�P
eas
e, sa, ead
egg eea
093
8 800 ]Y
083 895 BEe
OYg e]9 � 892 09fi
A 886
�YCF q. W 814 8]8 891 897
875 �5 890 �0 BB3
d^ .Q'V= 888 099 2
•( 'Ci 876 089
.1
860 88]
Sae 880 9.
.o
050
4N�E as1 WAXEN RD as9
]se � p e5z
]so ��,5 A no m e Osn gss g as] ese
]ef ]82 763 ]� ]� 768 O`f ]]2
.7
88774
T]s
750 SORREL LN ]e4 ]ve 71
5 ]Sfi
]55 ]g2
J7�- °� 817. LEGEND
]d]
46
803 PROPOSED REASSESSMENT DISTRICT N
C PARCEL BOUNDARY W+E
SPICEGR�OODNSUPLTIN -----• CITY BOUNDARY S
SHEET 15 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
290 a
1288
+ 1302� G1
F 129]
ca
Ivy +� m + 1288 1289 1295 F
"ILLS
,a,0 ', PGPVE ,ass ,3e] pf� t2w ,z9,,z9z t
m N G 1283 12]6 $L O
13251324 3 �' ��+ c 9 + 1358 11fi383 '1369 1282 N� l"P
134] 1349� 1383 13]0 � 1281 �f�
1112 1w9 � ,358 9f 9
tz
1113 �"1 1345� ,353 1381 1328
9 350 a 9�y SHEET 16
ta4 '� ,3sz
1109
''] 2 1340 u 1330,33]m DIP
' 123]m 1245 N
'R,o 11
flOS w 1248
rz. p1NM 1zo] ,T36 0
1,,, nw g t,oe 'coo GfiRA r R ,zaa
11021103 ,118 1.2 �3 1T01 1209
SHEET 14
A � ' 1123 „zo ,684 � 1w0 1w1 1Ti1 l 1233
.Gp � 11 W' ,005 ,�, 1w6 103] 1039 1w2 121 � �ry �
',J, F 1099 1124 1008 1080 9 1030 1w3 1T1121 q ^ry� 1229
0961 OB] 1126
` f008 10]8 n f05] 1216
�� Q� 11 t00B ,ol] 1003 1062 ? 5 ,210 �j 122]
1 ,�0 f0]8 5 1�51080 ,w 1131 12t] t219 V 122fi
]y 1095 1128n ,t32 � 1225
1129 1091 10]5 .��1088 1055 ,�8 11� 1224
1OBT 10]6 108] 1052 10531004 x
10]3 f051 it% V 1223
1093 1060 t050
p� ,0]2 1068 iw9 pW � 1'89 f` 1135
C'Q , P 1191'1� 'J� 1138
q1p ,o]o n9a n9z
to], 1w] 1190 118]i88 138
3{ Q^ „96
31184 1188 1140
1188 1182" RQ 116]
1181 _` 1189
,`P '1142
q�
,100 +W 11]2 N 11fi6 11a3
9 83
11]8 11]4
1175 1,80 1181 CT 1145
117B 11� pSS� 11w 1153
48
11]] 1158 ,y` "� 1137 LEGEND
1,56 „52 11.
1,5]
11
51 PROPOSED REASSESSMENT DISTRICT N
1149
50
& PARCEL BOUNDARY W E
SPICEGR RCONSULTING �` -----• CITY BOUNDARY S
SHEET 16 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
- I
R
'stiffs 950 951
co
949 952
985
A 953 964
948 9 %6
N C 983 I
947 F; 954 967
U F
z 955 962
946 C
988
935
NG v 936 910 941 942 943 944 945 958 95] 958 959 960 961 Q
969
939
938
ELINA RD
937
o
s
991 1014 1015 1016 1017 1018 1019 CC 995
1020 1021 1022
992
993 990 1013
9f. 1275 994 1027 970
1012 1026 1025 1024 1023
1254 1255 12]4 986 989 971 I
R zs3 9� 1273 loll 1028 DAUBEN CT 972
Q 1256 1272
987
i
1257 �'f' 1271 9 1010 1029 973
125
G� N 1030 1031 1032 1033 1034 1035
8 12]0 988 1009
1259 985 974
� 1269 1008
1280 �' 1268 989 1007 1006 1005 10o4 1003 1002 1036
996
1281 1261 983 !
WAY
'J 1262 1266 982 981
1263
980 979 979 977 978 975 998 999 997 1000 1001
I. 1264
4 •
9p
TANSYCT 1265 ..� .._. COBS.ON• AVE........................
-n7T-�
LEGEND
PROPOSED REASSESSMENT DISTRICT NN
C& PARCEL BOUNDARY W+E
SPICER CONSULTING -----• CITY BOUNDARY S
G R O U P
SHEET 17 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
gyCOpq PfFO���,(�
0*21
Off,
CARAWAy CT
0
x
V
z
y TULSI CT
AMgR0s'9
9
HILLSIDE
SILKT SSEL
D
DIANTHUS
N
CORKTREE LEGEND
GARBANI RD PROPOSED REASSESSMENT DISTRICT NN
C& PARCEL BOUNDARY W+E
SPICER CONSULTING -----• CITY BOUNDARY S
G R O U P
SHEET 18 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssm No. APN ReAssmlNo. APN ReAssmtNo. APN ReAssmtNo. APN ReAssmtNO. APN ReAssmlNo. APN ReAssmtNo. APN ReAssmtNo. APN ReAssmlNo. APN ReAssmtNo. APN
1 35B-120-053 51 358-250-054 101 358-261-005 151 358-272-005 201 35B-280-020 251 358-290-019 301 358-301-024 351 358-320-005 401 358-321-038 451 358-340-025
2 356-250-001 52 358-250-055 102 35&261-006 152 35&272-006 202 356-280-021 252 358-290-020 302 35&302-001 352 35&320-006 402 356-321-039 452 358-340-026
3 358-250-002 53 358-250-056 103 358-261-007 153 358-272-007 203 358-280-022 253 358-290-021 303 358-302-002 353 358-320-007 403 358-330-001 453 358-340-027
4 356-250-003 54 358-250-057 104 358-261-008 154 35&272-008 204 356-280-023 254 358-290-022 304 35&302-003 354 M-320-008 404 356-330-002 454 358-340-028
5 358.250-004 55 358.250.058 105 35&261.009 155 358-272-009 205 358-280-024 255 358-290.023 305 358-302-004 355 358-320-009 405 358-330-003 455 358-340.029
6 356-250-005 56 358-250-059 106 35&261-010 156 358-272-010 206 358-280-025 256 358-290-024 306 358-302-005 356 358-320-010 406 35B-330-004 456 358-340-030
7 358.250-006 57 358.250-060 107 358-261.011 157 358-272-011 207 358-280-026 257 358-291-001 307 358-302-006 357 358-320-011 407 358-330-006 457 358-341.001
8 35B-250-007 58 358-250-061 108 35&261-012 158 358-272-012 208 35B-280-027 258 358-291-002 308 35&302-007 358 358-320-012 408 358-330-007 458 358-341-002
9 358-250-008 59 358-250-062 109 358-261-013 159 358-272-013 209 358-280-028 259 358-291-003 309 358-302-008 359 358,320-013 409 358-330-008 459 358-341-003
10 358.25NO09 60 358.25M63 110 35&261.014 160 358-272-014 210 358.280-029 260 358-291-004 310 35&302.009 360 358-320-014 410 358.330-009 460 358-341.004
11 358-250-010 61 358-251-001 111 358-261-015 161 358-272-015 211 358-280-030 261 358-291-005 311 358-302-010 361 358-320-015 411 358-330-010 461 358-341-005
12 358.250-011 62 358.251-002 112 358-261.016 162 358-272-016 212 358.280-031 262 358-291-006 312 358-302.011 362 358-320-016 412 358.330-011 462 358-341.006
13 35B-250-012 63 358-251-003 113 358-261-017 163 358-272-017 213 358-280-032 263 358-291-007 313 358-302-012 363 358-320-017 413 358-330-012 463 358-341-007
14 358-250-013 64 358-251-004 114 358-261-018 164 358-272-018 214 358-280-033 264 358-291-008 314 358-310-001 364 358-320-018 414 358-330-013 464 358-341-008
15 358-250-014 65 358-251-005 115 358-261-019 165 358-272-019 215 358-280-034 265 358-291-009 315 358-310-002 365 358-320-019 415 358-330-014 465 358-341-009
16 358-250-015 66 358-251-006 116 358-261-020 166 358-272-020 216 358-280-035 266 358-291-010 316 358-310-003 366 358-320-020 416 358-330-015 466 358-341-010
17 358.250-016 67 358.251-007 117 358261.021 167 358-273-001 217 358.280-036 267 358-291-011 317 358-310.004 367 358-320-021 417 358.330-016 467 358-341.011
18 358-250-017 68 358-251-008 118 358-261-022 168 358-273-002 218 358-280-037 268 358-291-012 318 358-310-005 368 358-320-022 418 358-330-017 468 358-341-012
19 358.250-018 69 358.251-009 119 358-261.023 169 358-273-003 219 358.280-038 269 358-291-013 319 358-310.006 369 358-320-023 419 358.330-018 469 358-341.013
20 35B-250-019 70 358-251-010 120 358-261-024 170 358-273-004 220 358-281-001 270 358-291-014 320 358-310-007 370 358-321-001 420 358-331-001 470 358-341-014
21 358-250-020 71 358-251-011 121 358-261-025 171 358-273-005 221 358-281-002 271 358-291-015 321 358-310-008 371 358-321-002 421 358-331-002 471 358-341-015
22 358.25NO21 72 358.251-012 122 35&261.026 172 358-273-006 222 358.281-003 272 358-291-016 322 35&310.009 372 358-321-003 422 358.331-003 472 358-341.016
23 358-250-022 73 358-251-013 123 358-261-027 173 358-273-007 223 358-281-004 273 358-291-017 323 358-310-010 373 358-321-004 423 358-331-004 473 358-341-017
24 358.250-023 74 358.251-014 124 358-261.028 174 358-273-008 224 358.281-005 274 358-291-018 324 358-310.013 374 358-321-005 424 358.331-005 474 358-341.018
25 35B-250-024 75 358-251-015 125 358-261-029 175 358-273-009 225 358-281-006 275 358-291-019 325 358-310-014 375 358-321-006 425 358-331-007 475 358-341-019
26 358.250-025 76 358.251-016 126 358-261.030 176 35&273-010 226 358.281-007 276 358-300-001 326 358-310.015 376 358-321-007 426 358.331-008 476 358-341-020
27 358-250-026 77 358-251-017 127 358-261-031 177 358-273-011 227 358-281-008 277 358-300-002 327 358-310-016 377 358-321-008 427 358-340-001 477 358-341-023
28 358-250-027 78 358-251-018 128 358-261-032 178 358-274-001 228 358-281-009 278 358-301-001 328 358-310-017 378 358-321-009 428 358-340-002 478 358-341-024
29 358.250-028 79 358.26M01 129 35&261.033 179 358-274-002 229 358.281-010 279 358-301-002 329 358-310.018 379 358-321-010 429 358.340-003 479 358-341.025
30 358-250-029 80 358-260-002 130 358-261-034 180 358-274-003 230 358-281-011 280 358-301-003 330 358-310-019 380 358-321-011 430 358-340-004 480 358-341-026
31 358.250-030 81 358.260-003 131 358-261.035 181 358-274-004 231 358.281-012 281 358-301-004 331 358-310.020 381 358-321-012 431 358.340-005 481 358-341.027
32 35B-250-035 82 358-260-004 132 358-261-036 182 358-280-001 232 358-281-013 282 358-301-005 332 358-310-021 382 358-321-013 432 358-340-006 482 358-341-028
33 358-250-036 83 358-260-005 133 358-270-001 183 358-280-002 233 358-290-001 283 358-301-006 333 358-310-022 383 358-321-017 433 358-340-007 483 358-341-029
34 358.250-037 B4 358.260.006 134 358-270.002 194 358-280-003 234 358.290-002 284 358-301-007 334 35&310.023 384 358-321-018 434 358.340-008 484 358-341.030
35 358-250-038 85 358-260-007 135 358-270-003 185 358-280-004 235 358-290-003 285 358-301-008 335 358-310-024 385 358-321-019 435 358-340-009 485 358-341-031
36 358.250-039 86 358.260-008 136 358-270.004 186 358-280-005 236 358.290-004 286 358-301-009 336 358-310.025 386 358-321-020 436 358.340-010 486 358-341.032
37 35B-250-040 87 358-260-009 137 358-270-005 187 358-280-006 237 35B-290-005 287 358-301-010 337 358-310-026 387 358-321-021 437 358-340-011 487 358-341-033
38 358.250-041 88 358.260-010 138 358-270.006 188 35&280-007 238 358.290-006 288 358-301-011 338 358-310.029 388 358-321-022 438 358.340-012 488 358-341.034
39 358-250-042 89 358-260-011 139 358-270-007 189 358-280-008 239 358-290-007 289 358-301-012 339 358-310-030 389 358-321-023 439 358-340-013 489 358-341-035
40 358-250-043 90 358-260-012 140 358-270-008 190 358-280-009 240 358-290-008 290 358-301-013 340 358-310-031 390 358-321-024 440 358-340-014 490 358-341-038
41 358.250-044 91 358.26M13 141 35&270.009 191 35&280-010 241 358.290-009 291 358-301-014 341 35&310.032 391 358-321-025 441 358.340-015 491 358-342.001
42 35B-250-045 92 358-260-014 142 358-270-010 192 358-280-011 242 358-290-010 292 358-301-015 342 358-310-033 392 358-321-026 442 358-340-016 492 358-342-002
43 358.250-046 93 358.260-015 143 358-270.011 193 358-280-012 243 358.290-011 293 358-301-016 343 358-310.034 393 358-321-027 443 358.340-017 493 358-342.003
44 35B-250-047 94 358-260-016 144 358-271-001 194 358-280-013 244 358-290-012 294 358-301-017 344 358-310-035 394 358-321-028 444 358-340-018 494 358-342-004
45 358-250-048 95 358-260-017 145 358-271-002 195 358-280-014 245 358-290-013 295 358-301-018 345 358-310-036 395 358-321-029 445 358-340-019 495 358-342-005
46 358-250-049 96 358-260-018 146 358-271-003 196 358-280-015 246 358-290-014 296 358-301-019 346 358-311-001 396 358-321-030 446 358-340-020 496 358-342.006
47 358-250-050 97 358-261-001 147 358-272-001 197 358-280-016 247 358-290-015 297 358-301-020 347 358-320-001 397 358-321-031 447 358-340-021 497 358-342-007
48 358.250-051 98 358.261-002 148 358-272.002 198 358-280-017 248 358.290-016 298 358-301-021 348 358-320.002 398 358-321-032 448 358.340-022 498 358-342.008
C 49 358-250-052 99 358-261-003 149 35&272-003 199 358-280-018 249 35B-290-017 299 358-301-022 349 358-320-003 399 358-321-033 449 358-340-023 499 358-342-009
50 358.250-053 100 358.261-004 160 35&272.004 200 35&M-M 250 356.290-018 IN358-301.023 3. 35&320.004 400 35&3N-037 450 351-341,024 500 358-342.010
SPICER CONSULTING
G R O U P
SHEET 19 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssmtNo. APN RBA-Mo. APN ReAssmtNo. APN ReA-fflo. APN ReAssmlNo. APN RBAssmtNo. APN WssmMo. APN R.A-fflo. APN ReAssmlNo. APN RBAssmtNo. APN
501 358-342-011 551 358-360-008 601 358-370-014 651 358-380-013 701 358-382-005 751 358-390-037 801 358-400-034 851 358-570-004 901 358-580-001 951 358-590-017
502 358-342-012 552 358-360-009 602 358-370-015 652 358-380-014 702 358-382-OOG 752 358-390-038 802 358-400-035 852 358-570-005 902 358-580-002 952 358-590-018
503 358-342-013 553 358-360-010 603 35&371-001 653 358-380-015 703 358-382-007 753 358-390-039 803 358-400-039 853 358-570-006 903 358-580-003 953 358-590-019
504 358-342.014 554 35&360.011 604 358-371-002 654 358.38NO16 704 358.382-008 754 358-390.040 804 35&400.040 854 35&570-007 904 358.580-004 954 358-590.020
505 358-342-015 555 358-360-012 605 358-371-003 655 358-380-017 705 358-382-009 755 358-390-041 805 358-410-001 855 358-570-008 905 358-580-005 955 358-590-021
506 358-342.016 556 358.360.013 606 358-371-004 656 358.380-018 706 358.382-010 756 358-390.042 806 358-410.002 856 358-570-009 906 358.580,006 956 358-590.022
507 358-342-017 557 358-360-014 607 358-371-005 657 35B-380-019 707 358-382-011 757 358-390-043 807 358-410-003 857 358-570-010 907 35B-580-007 957 358-590-023
508 358-350-001 558 358-360-015 608 35&371-006 658 358-380-020 708 358-382-012 758 358-390-044 808 358-410-004 858 35&570-011 908 358-580-008 958 358-590-024
509 358-350-002 559 358-360-019 609 358-371-007 659 358-380-021 709 358-383-001 759 358-390-045 809 358-410-005 859 358-570-012 909 358-580-009 959 358-590-025
510 358-350-003 560 358-360-020 610 35&371-008 660 358-380-022 710 358-383-002 760 358-390-046 810 358-410-006 860 35&570-013 910 358-580-010 960 358-590-026
511 358-350.004 561 35&360.021 611 358.371-009 661 358.380-023 711 358.383-003 761 358-390.047 811 35&410.007 861 35&570-014 911 358.580-011 961 358-590.027
512 358-350-005 562 358-360-022 612 358-371-010 662 358-380-024 712 358-383-004 762 358-390-048 812 358-410-008 862 358-570-015 912 358-580 012 962 358-590-028
513 358-350.006 563 358.360.023 613 358-371-011 663 358.380-025 713 358.383-005 763 358-390.049 813 358-410.009 863 358-570-016 913 358-580-013 963 358-590.029
514 358-350-007 564 358-360-024 614 358-371-012 664 358-380-026 714 358-383-006 764 358-390-050 814 358-410-010 864 358-570-017 914 358-580-014 964 358-590-030
515 358-350-008 565 358-360-025 615 35&371-013 665 358-380-027 715 358-390-001 765 358-390-051 815 358-410-011 865 35&570-018 915 358-580-015 965 358-591-001
516 358-350-009 566 358-360-026 616 358-371-014 666 358-380-028 716 358-390-002 766 358-390-052 816 358-410-012 866 358-570-019 916 358-580-016 966 358-591-002
517 358-350-010 567 358-360-027 617 358-371-015 667 358-380-029 717 358-390-003 767 358-390-053 817 358-410-013 867 35&570-020 917 358-580-017 967 358-591-003
518 358-350.011 568 358-360.028 618 358-371-016 668 358-380-030 718 358-390-004 768 358-390-054 818 358.410.014 868 358-570-021 918 358.580-018 968 358-591.004
519 358-350-012 569 358-361-001 619 358-371-027 669 358-380-031 719 358-390-005 769 358-390-055 819 358-411-001 869 358-570-022 919 358-580-019 969 358-591-012
520 358-350.013 570 358-361.002 620 358-371-028 670 358.380-032 720 358.390-006 770 358.400.001 820 358-411.002 870 358-570-023 920 358.580-020 970 358-600.003
521 358-351-001 571 358-361-003 621 358-371-029 671 358-380-033 721 358-390-007 771 358400-002 821 358-411-003 871 358-570-024 921 358-580-021 971 358-fi00-004
522 358-351-002 572 358-361-004 622 35&371-030 672 358-380-034 722 358-390-008 772 3584DO-003 822 358-411-004 872 35&570-025 922 358-580-022 972 358-600-005
523 358-351-003 573 358-361-005 623 358-371-031 673 358-380-037 723 358-390-009 773 3584GO-004 823 358-411-005 873 358-570-026 923 358-580-023 973 358-600-006
524 358-351-004 574 358-361-006 624 35&371-032 674 358-380-038 724 358-390-010 774 358400-005 824 358-411-006 874 358-570-027 924 356-580-024 974 358-600-007
525 358-351-005 575 358-361.007 625 35&372-002 675 358.380-039 725 358.390-011 775 358400.006 825 358.411.007 875 358-570-028 925 358-580-025 975 358-600.014
526 358-351-006 576 358-361-008 626 358-372-003 676 358-380-040 726 358-390-012 776 358400-007 826 358-411-008 876 358-570-029 926 358-580-026 976 358-600-015
527 358-351-007 577 358-361.009 627 358-372-004 677 358.380-041 727 358.390-013 777 358400.008 827 358-411.011 877 358-570-030 927 358.580-027 977 358-600.016
528 358-351-008 578 358-361-010 628 358-372-005 678 35B-380-042 728 358-390-014 778 358400-011 828 358-411-012 878 358-570-031 928 358-580-028 978 358-600-017
529 358-351-009 579 358-361-011 629 35&372-006 679 358-381-001 729 358-390-015 779 3584DO-012 829 358-411-013 879 35&570-032 929 358-580-029 979 358-600-018
530 358-351.010 580 358-361.012 630 358.372-007 680 358-381-002 730 358-390-016 780 3584GO.013 830 35&411.014 880 358-570-033 930 358-580-030 980 358.600.019
531 358-351-011 581 358-362-001 631 35&372-008 681 358-381-003 731 358-390-017 781 358400-014 831 358-411-015 881 358-570-034 931 358-580-031 981 358-600-020
532 358-351.012 582 358-362.002 632 358-372-009 682 358-381-004 732 358-390-018 782 3584DO.015 832 358.411.016 882 358-570-035 932 358-580-032 982 358-600.021
533 358-351-013 583 358-362-003 633 358-372-010 6B3 35B-381-005 733 358-390-019 783 358400-016 833 358-411-017 883 358-570-036 933 358-580-033 983 358-600-022
534 358-351.014 584 358-362.004 634 358-372-011 694 358.381-006 734 358.390-020 784 358400.017 834 358-411.018 884 358-570-037 934 358.580,034 984 358-600.023
535 358-351-015 585 358-362-005 635 358-372-012 685 358-381-007 735 358-390-021 785 358400-018 835 358-411-019 885 358-570-038 935 358-590-001 985 358-600-024
536 358-351-016 586 358-362-006 636 35&372-013 686 358-381-009 736 358-390-022 786 3584DO-019 836 358-411-020 886 35&570-039 936 358-590-002 986 358-600-025
537 358-351.017 587 358-362.007 637 358.372-014 687 358.381-010 737 358.390-023 787 358400.020 837 358.411.021 887 358-570-040 937 358.590-003 987 358-600.026
538 358-351-018 588 358-370-001 638 358-372-015 688 358-381-011 738 358-390-024 788 358400-021 838 358-411-024 888 358-570-041 938 358-590-004 988 358-600-027
539 358-351.019 589 358.370.002 639 358-380-001 689 358.381-012 739 358.390.025 789 3584DO.022 839 358-411.025 889 358-570-042 939 358.590-005 989 358-600.028
540 358-351-020 590 358-370-003 640 358-380-002 690 35B-381-013 740 358-390-026 790 358400-023 840 358-411-026 890 358-570-043 940 358-590-006 990 358-600-029
541 358-351.021 591 358-370.004 641 358-380-003 691 358.381-014 741 358.390-027 791 358400.024 841 358-411.027 891 358-570-044 941 358.590-007 991 358-600.030
542 358-351-022 592 358-370-005 642 358-380-004 692 358-381-015 742 358-390-028 792 358400-025 842 358-411-028 892 358-570-045 942 358-590-008 992 358-600-031
543 358-351-023 593 358-370-006 643 35&380-005 693 358-381-016 743 358-390-029 793 3584DO-026 843 358-411-029 893 35&570-046 943 358-590-009 993 358-600-032
544 358-360.001 594 358-370.007 644 358-380-006 694 358.381-017 744 358.390.030 794 358400.027 844 35&411.034 894 358-570-047 99 358.590-010 994 358-600.033
545 358-360-002 595 358-370-008 645 358-380-007 695 358-381-018 745 358-390-031 795 358400-028 845 358-411-035 895 358-570-048 945 358-590-011 995 358-600-044
546 358-360.003 596 358.370.009 646 358-380-008 696 358.381-019 746 356-390-032 796 3584DO.029 846 358-411.038 896 358-570-049 946 358.590-012 996 358-600.047
547 358-360-004 597 358-370-010 647 358-380-009 697 35B-382-001 747 358-390-033 797 358400-030 847 358-411-039 897 358-570-050 947 356-590-013 997 358-600-051
OC& 548 358-360-005 598 358-370-011 648 35&380-010 698 358-382-002 748 358-390-034 798 358400-031 848 358-570-001 898 35&570-051 948 358-590-014 998 358-600-053
549 358-360-006 599 358-370-012 649 358-380-011 699 358-382-003 749 358-390-035 799 358400-032 849 358-570-002 899 358-570-052 949 358-590-015 999 358-600-054
550 358-360-007 600 358-370-013 650 358-380-012 700 358-382-004 750 358-390-036 800 358400-033 850 358-570-003 900 358-570-053 950 358-590-016 1000 358-600-055
SPICER CONSULTING
G R O U P
SHEET 20 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssmtNo. APN RBA-Mo. APN Rok mtNo. APN ReksmtNo. APN ReksmtNo. APN R.MsmtNo. APN R.AssmtNo. APN RBAssmtNo. APN ReAssmtNo. APN ReAssmtNo. APN
1001 358-600-056 1051 358-611-006 1101 358-612.007 1151 358-620.021 1201 358-630-005 1251 358-640.010 1301 358-650.026 1351 358451.026 1401 363-471-018 1451 363-473-003
1002 358-601-002 1052 358-611-007 1102 358-612-008 1152 358-620-022 1202 358-630-006 1252 358-640-011 1302 358-650-027 1352 358-651-027 1402 363-471-019 1452 363-473-004
1003 358-601-003 1053 358-611-008 1103 358-612-009 1153 358-620-023 1203 358-630-007 1253 358-640-012 1303 358-650-028 1353 358-651-028 1403 363-471-020 1453 363-473-005
1004 358-601-004 1054 358-611-009 1104 358-612-010 1154 358-620-024 1204 358-630-008 1254 358-640-013 1304 358-650-029 1354 358-651-029 1404 363-471-021 1454 363-473-006
1005 358-601-005 1055 358-611-010 1105 358-612-011 1155 358-620-025 1205 358-630-009 1255 358-640-014 1305 358-650-030 1355 358-651-030 1405 363-471-022 1455 363-473-007
1006 358-601-006 1056 358-611-011 1106 358-612.012 1156 358-620.026 1206 358-630-010 1256 358-640.015 1306 358-650-031 1356 358-651.031 1406 363-471-023 1456 363.473-008
1007 358-601-007 1057 358-611-012 1107 358-612-014 1157 358-620-027 1207 358-630-011 1257 358-640-016 1307 358-650-032 1357 358-651-032 1407 363-471-024 1457 363-473-009
1008 358-601-008 1058 358-611-013 1108 358-612.015 1158 358-620.028 1208 358-630.012 1258 358-640.017 1308 358-650.033 1358 358.651.033 1408 363.471-027 1458 363.473-010
1009 358-601-009 1059 358-611-014 1109 358-612-016 1159 358-620-029 1209 358-630-013 1259 358-640-018 1309 358-650-034 1359 358-651-034 1409 363-471-028 1459 363-473-011
1010 358-601-010 1060 358-611-015 1110 358-612.017 1160 358-620.030 1210 358-630.014 1260 358-640.019 1310 358-650.035 1360 35&651.035 1410 363.472-001 1460 363.473-012
1011 358-601-011 1061 358-611-016 1111 358-612-018 1161 358-620-031 1211 358-630-015 1261 358-640-020 1311 358-650-036 1361 358-651-036 1411 363-472-002 1461 363-473-013
1012 358-601-012 1062 358-611-017 1112 358-612-021 1162 358-620-032 1212 358-630-016 1262 358-640-021 1312 358-650-037 1362 358-651-037 1412 363-472-003 1462 363-473-014
1013 358-601-013 1063 358-611.018 1113 358-612.022 1163 358-620.033 1213 358-630.017 1263 358-640-022 1313 358-650-038 1363 35&651.038 1413 363.472-004 1463 363.473-015
1014 358-601-014 1064 358-611-019 1114 358-612-023 1164 358-620-034 1214 358-630-018 1264 358-640-023 1314 358-650-039 1364 358-651-039 1414 363-472-005 1464 363-473-016
1015 358-601-015 1065 358-611-020 1115 358-612.024 1165 358-620-035 1215 358-630.019 1265 358-640-024 1315 358-650-040 1365 358-651.040 1415 363-472-006 1465 363.473-017
1016 358-601-016 1066 358-611-021 1116 358-612-025 1166 358-620-036 1216 358-630-020 1266 358-640-025 1316 358-650-041 1366 358-651-041 1416 363-472-007 1466 363-473-018
1017 358-601-017 1067 358-611-022 1117 358-612.026 1167 358-620.037 1217 358-630.021 1267 358-640.026 1317 358-650.042 1367 358.651.042 1417 363.472-008 1467 363.473-019
1018 358-601-018 1068 358-611-023 1118 358-612-027 1168 358-620-038 1218 358-630-022 1268 358-640-027 1318 358-650-043 1368 358-651-043 1418 363-472-009 1468 363-473-020
1019 358-601-019 1069 358-611-024 1119 358-612-028 1169 358-620-039 1219 358-630-023 1269 358-640-028 1319 358-650-044 1369 358-651-044 1419 363-472-012 1469 363-473-021
1020 358-601-020 1070 358-611-025 1120 358-612-029 1170 358-620-040 1220 358-630-024 1270 358-640-029 1320 358-650-045 1370 358-651-045 1420 363-472-013 1470 363-473-022
1021 358-601-021 1071 358-611-026 1121 358-612-030 1171 358-620-041 1221 358-630-025 1271 358-640-030 1321 358-650-046 1371 363-210-017 1421 363-472-014 1471 363-473-023
1022 358-601-022 1072 358-611-027 1122 358-612.031 1172 358-620.042 1222 358-630-026 1272 358-640.031 1322 35&650.047 1372 363210.018 1422 363.472-015 1472 363.473-024
1023 358-601-023 1073 358-611-028 1123 358-612-032 1173 358-620-043 1223 358-630-027 1273 358-640-032 1323 358-650-048 1373 363-210-019 1423 363-472-016 1473 363-473-025
1024 358-601-024 1074 358-611-029 1124 358-612.033 1174 358-620-044 1224 358-630-028 1274 358-640-033 1324 358-650.049 1374 363-210-020 1424 363.472-017 1474 363.473-026
1025 358-601-025 1075 358-611-030 1125 358-612-034 1175 358-620-045 1225 358-630-029 1275 358-640-034 1325 358-650-050 1375 363-210-021 1425 363-472-018 1475 363-473-027
1026 358-601-026 1076 358-611-031 1126 358-612.035 1176 358-620.046 1226 358-630.030 1276 358-650-001 1326 358-651.001 1376 363-210-022 1426 363-472-019 1476 363.473-030
1027 358-601-027 1077 358-611-032 1127 358-612-036 1177 358-620-047 1227 358-630-031 1277 358-650-002 1327 358-651-002 1377 363-210-023 1427 363-472-020 1477 363-473-031
1028 358-601-028 1078 358-611-033 1128 358-612-037 1178 358-621-001 1228 358-630-032 1278 358-650-003 1328 358-651-003 1378 363-210-024 1428 363-472-021 1478 363-473-032
1029 358-601-029 1079 358-611-034 1129 358-612-038 1179 358-621-002 1229 358-630-033 1279 358-650-004 1329 358-651-004 1379 363-210-025 1429 363-472-022 1479 363-473-033
1030 358-601-030 1080 358-611-035 1130 358-612-040 1180 358-621-003 1230 358-630-034 1280 358-650-005 1330 358-651-005 1380 363-210-026 1430 363-472-023 1480 363-473-034
1031 358-601-031 1081 358-611-036 1131 358-620.001 1181 358-621.004 1231 358-630-035 1281 358-650.006 1331 35&651.006 1381 363210.027 1431 363.472-024 1481 363.473-035
1032 358-601-032 1082 358-611-037 1132 358-620-002 1182 358-621-005 1232 358-630-036 1282 358-650-007 1332 358-651-007 1382 363-210-028 1432 363-472-025 1482 363-473-036
1033 358-601-033 1083 358-611-038 1133 358-620.003 1183 358-621.006 1233 358-630.037 1283 358-650.008 1333 358-661.008 1383 363-210.029 1433 363.472-026 1483 363.473-037
1034 358-601-034 1084 358-611-039 1134 358-620-004 1184 358-621-007 1234 358-630-038 1284 358-650-009 1334 358-651-009 1384 363-210-030 1434 363-472-027 1484 363-473-040
1035 358-601-035 1085 358-611-040 1135 358-620.005 1185 358-621.008 1235 358-630.039 1285 358-650.010 1335 358-651.010 1385 363-210.051 1435 363-472-028 1485 363-561-001
1036 358-601-037 1086 358-611-041 1136 358-620-006 1186 358-621-009 1236 358-630-040 1286 358-650-011 1336 358-651-011 1386 363471-001 1436 363-472-029 106 363-561-002
1037 358-610-002 1087 358-611-042 1137 358-620-007 1187 358-621-010 1237 358-630-041 1287 358-650-012 1337 358-651-012 1387 363-471-002 1437 363-472-032 1487 363-561-003
1038 358-610-003 1088 358-611-043 1138 358-620-008 1188 358-621-011 1238 358-630-042 1298 358-650-013 1338 358-651-013 1388 363471-003 1438 363-472-033 1488 363-561-004
1039 358-610-004 1089 358-611-044 1139 358-620-009 1189 358-621-012 1239 358-630-045 1289 358-650-014 1339 358-651-014 1389 363-471-004 1439 363-472-034 1489 363-561-005
1040 358-610.005 1090 358-611-045 1140 358-620.010 1190 358-621.013 1240 358-630.047 1290 358-650.015 1340 35&651.015 1390 363471.005 1440 363.472-035 1490 363.561-006
1041 358-610-006 1091 358-611-046 1141 358-620-011 1191 358-621-014 1241 358-630-049 1291 358-650-016 1341 358-651-016 1391 363471-008 1441 363-472-036 1491 363-561-007
1042 358-610-007 1092 358-611-047 1142 358-620.012 1192 358-621-015 1242 358-640-001 1292 358-650-017 1342 358-651.017 1392 363-471.009 1442 363.472-037 1492 363-561-008
1043 358-610-008 1093 358-611-048 1143 358-620-013 1193 358-621-016 1243 358-640-002 1293 358-650-018 1343 358-651-018 1393 363471-010 1443 363-472-038 1493 363-561-009
1044 358-610-009 1094 358-611-050 1144 358-620.014 1194 358-621.017 1244 358-640.003 1294 358-650.019 1344 358-651.019 1394 363471.011 1444 363-472-039 1494 363-561-010
1045 358-610-010 1095 358-612-001 1145 358-620-015 1195 358-621-018 1245 358-640-004 1295 358-650-020 1345 358-651-020 1395 363471-012 1445 363-472-040 1495 363-561-011
1046 358-610-011 1096 358-612-002 1146 358-620-016 1196 358-621-019 1246 358-640-005 1296 358-650-021 1346 358-651-021 1396 363-471-013 1446 363-472-041 1496 363-561-012
1047 358-611-002 1097 358-612-003 1147 358-620-017 1197 358-621-020 1247 358-640-006 1297 358-650-022 1347 358-651-022 1397 363471-014 1447 363-472-042 1497 363-561-013
CO 1048 358-611-003 1098 358-612-004 1148 358-620-018 1198 358-621-021 1248 358-640-007 1298 358-650-023 1348 358-651-023 1398 363-471-015 1448 363-472-043 1498 363-561-014
1049 358-611-004 1099 358-612-005 1149 358-620.019 1199 358-621.022 1249 358-640.008 1299 358-650.024 1349 35&651.024 1399 363-471.016 1449 363.473-001 1499 363.561-015
1050 358-611-005 1100 358-612-006 1150 358-620-020 1200 358-630-004 1250 358-640-009 1300 358-650-025 1350 358-651-025 1400 363-471-017 1450 363-473-002 1500 363-561-016
SPICER CONSULTING
G R O U P
SHEET 21 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssmtNo. APN ReA-Mo. APN RBAssmtNo. APN ReAss Oo. APN ReAssmlNo. APN RBAnn M.. APN R.AssmtNo. APN R.AssmtNo. APN ReAssmlNo. APN RBAssmtNo. APN
1501 363-561-017 1551 363-571-017 1601 363-581-001 1651 363-590-006 1701 363-601-003 1751 363-602-035 1801 363-612-021 1851 363-621-036 1901 363-651-004 1951 363-652-040
1502 363-561-018 1552 363-571-018 1602 363-581-002 1652 363-590-007 1702 363-601-004 1752 363-602-036 1802 363-612-022 1852 363-622-001 1902 363-651-005 1952 363-652-041
1503 363-562-001 1553 363-571-019 1603 363-581-003 1653 363-590-008 1703 363-601-005 1753 363-602-037 1803 363-612-023 1853 363-622-002 1903 363-651-006 1953 363-652-042
1504 363-562.002 1554 363-571.020 1604 363.581-004 1654 363.59NO09 1704 363.601-006 1754 363-602.038 1804 363.612.024 1854 36M22-003 1904 363.651-007 1954 363-652.043
1505 363-562-003 1555 363-571-021 1605 363-581-005 1655 363-590-010 1705 363-601-007 1755 363-602-039 1805 363-612-025 1855 363-630-001 1905 363-651-008 1955 363-652-044
1506 363-562.004 1556 363-671.022 1606 363.581-006 1656 363.590-011 1706 363.601-008 1756 363-602.040 1806 363.612.026 1856 363-630-002 1906 363.651-009 1956 363-652.045
1507 363-562-005 1557 363-571-023 1607 363-5B1-007 1657 363-590-012 1707 363-601-009 1757 363-602-041 1807 363-612-027 1857 363-630-003 1907 363-651-010 1957 363-652-046
1508 363-562-006 1558 363-571-024 1608 363-581-008 1658 363-590-013 1708 363-601-010 1758 363-602-042 1808 363-612-028 1858 363-630-004 1908 363-651-011 1958 363-652-047
1509 363-562-007 1559 363-571-025 1609 363-581-009 1659 363-59M14 1709 363-601-011 1759 363-602-043 1809 363-612-029 1859 363-630-005 1909 363-651-012 1959 363-652-048
1510 363-562-008 1560 363-571-026 1610 363-581-010 1660 363-590-015 1710 363-601-012 1760 363-602-044 1810 363-612-030 1860 363-630-006 1910 363-651-013 1960 363-652-049
1511 363-562.009 1561 363-571.027 1611 363.581-011 1661 363.590-016 1711 363.601-013 1761 363-602.045 1811 363.612.031 1861 363.630-007 1911 363.651-014 1961 363-652.050
1512 363-562-010 1562 363-571-028 1612 363-581-012 1662 363-590-017 1712 363-601-014 1762 363-602-046 1812 363-612-032 1862 363-630-008 1912 363-652-001 1962 363-652-051
1513 363-562.011 1563 363-571.029 1613 363-581-013 1663 363.590-018 1713 363.601-015 1763 363-602.047 1813 363.612.033 1863 363.630-009 1913 363.652-002 1963 363-652.052
1514 363-562-012 1564 363-571-030 1614 363-581-014 1664 363-590-019 1714 363-601-016 1764 363-602-048 1814 363-612-034 1864 363-630-010 1914 363-652-003 1964 363-661-001
1515 363-562-013 1565 363-571-031 1615 363-581-015 1665 363-590-020 1715 363-601-017 1765 363-602-049 1815 363-612-035 1865 363-630-011 1915 363-652-004 1965 363-661-002
1516 363-562-014 1566 363-571-032 1616 363-581-016 1666 363-590-021 1716 363-601-018 1766 363-603-001 1816 363-621-001 1866 363-630-012 1916 363-652-005 1966 363-661-003
1517 363-562-015 1567 363-571-033 1617 363-582-001 1667 363-590-022 1717 363-602-001 1767 363-603-002 1817 363-621-002 1867 363-630-013 1917 363-652-006 1967 363-661-004
1518 363-562.016 1568 363-571.034 1618 363.582-002 1668 363.590-023 1718 363-602-002 1768 363-603.003 1818 363.621.003 1868 363.630-014 1918 363.652-007 1968 363-661.005
1519 363-562-017 1569 363-571-035 1619 363-582-003 1669 363-590-024 1719 363-602-003 1769 363-603-004 1819 363-621-004 1869 363-630-015 1919 363-652-008 1969 363-661-006
1520 363-562.018 1570 363-571.036 1620 363.582-004 1670 363.590-025 1720 363-602-004 1770 363-603.005 1820 363-621.005 1870 363-630-016 1920 363.652-009 1970 363-661.007
1521 363-562-019 1571 363-571-037 1621 363-582-005 1671 363-590-026 1721 363-602-005 1771 363-611-001 1821 363-621-006 1871 363-630-017 1921 363-652-010 1971 363-661-008
1522 363-562-020 1572 363-571-038 1622 363-582-006 1672 363-590-027 1722 363-602-006 1772 363-611-002 1822 363-621-007 1872 363-630-018 1922 363-652-011 1972 363-661-009
1523 363-562-021 1573 363-571-039 1623 363-582-007 1673 363-590-028 1723 363-602-007 1773 363-611-003 1823 363-621-008 1873 363-630-019 1923 363-652-012 1973 363-661-010
1524 363-562-022 1574 363-571-040 1624 363-582-008 1674 363-590-029 1724 363-602-008 1774 363-611-004 1824 363-621-009 1874 363-630-020 1924 363-652-013 1974 363-661-011
1525 363-562.023 1575 363-571.041 1625 363.582-009 1675 363.590-030 1725 363.602-009 1775 363-611.005 1825 363.621.010 1875 363-630-021 1925 363.652-014 1975 363-662.001
1526 363-562-024 1576 363-571-042 1626 363-582-010 1676 363-590-031 1726 363-602-010 1776 363-611-006 1826 363-621-011 1876 363-630-022 1926 363-652-015 1976 363-662-002
1527 363-563.001 1577 363-571.043 1627 363.582-011 1677 363.590-032 1727 363.602-011 1777 363-611.007 1827 363-621.012 1877 363-630-023 1927 363.652-016 1977 363-662.004
1528 363-563-002 1578 363-571-044 1628 363-5B2-012 1678 363-590-033 1728 363-602-012 1778 363-611-008 1828 363-621-013 1878 363-630-024 1928 363-652-017 1978 363-662-005
1529 363-563-003 1579 363-572-001 1629 363-582-013 1679 363-590-034 1729 363-602-013 1779 363-611-009 1829 363-621-014 1879 363-630-025 1929 363-652-018 1979 363-662-006
1530 363-563.004 1580 363-572.002 1630 363.582-014 1680 363.590-035 1730 363.602-014 1780 363-611-010 1830 363.621.015 1880 363-630-026 1930 363-652-019 1980 363-662.007
1531 363-563-005 1581 363-572-003 1631 363-582-015 1681 363-590-036 1731 363-602-015 1781 363-612-001 1831 363-621-016 1881 363-630-027 1931 363-652-020 1981 363-662-008
1532 363-563.006 1582 363-572.004 1632 363.582-016 1682 363.590-037 1732 363.602-016 1782 363-612-002 1832 363.621.017 1882 363-630-028 1932 363-652-021 1982 363-662.009
1533 363-563-007 1583 363-572-005 1633 363-5B2-017 1683 363-590-038 1733 363-602-017 1783 363-612-003 1833 363-621-018 18B3 363-630-029 1933 363-652-022 1983 363-662-010
1534 363-563.008 1584 363-572.006 1634 363.582-018 1684 363.590-039 1734 363.602-018 1784 363-612.004 1834 363-621.019 1894 363-630-030 1934 363.652-023 1984 363-662.011
1535 363-571-001 1585 363-572-007 1635 363-582-019 1685 363-590-040 1735 363-602-019 1785 363-612-005 1835 363-621-020 1885 363-630-031 1935 363-652-024 1985 363-662-012
1536 363-571-002 1586 363-572-008 1636 363-582-020 1686 363-590-041 1736 363-602-020 1786 363-612-006 1836 363-621-021 1886 363-630-032 1936 363-652-025 1986 363-662-013
1537 363-571.003 1587 363-572.009 1637 363.582-021 1687 363.59NO42 1737 363-602-021 1787 363-612.007 1837 363.621.022 1887 363-630-033 1937 363.652-026 1987 363-662.014
1538 363-571-004 1588 363-572-010 1638 363-582-022 1688 363-590-043 1738 363-602-022 1788 363-612-008 1838 363-621-023 1888 363-630-034 1938 363-652-027 1988 363-662-015
1539 363-571.005 1589 363-572.011 1639 363.582-023 1689 363.590-044 1739 363.602-023 1789 363-612.009 1839 363.621.024 1889 363.630-035 1939 363.652-028 1989 363-662.016
1540 363-571-006 1590 363-572-012 1640 363-582-024 1690 363-590-045 1740 363-602-024 1790 363-612-010 1840 363-621-025 1890 363-640-001 1940 363-652-029 1990 363-662-017
1541 363-571.007 1591 363-572.013 1641 363.582-025 1691 363.590-046 1741 363.602-025 1791 363-612.011 1841 363-621.026 1891 36&640-002 1941 363.652-030 1991 363-662.018
1542 363-571-008 1592 363-573-001 1642 363-582-026 1692 363-590-047 1742 363-602-026 1792 363-612-012 1842 363-621-027 1892 363-640-003 1942 363-652-031 1992 363-662-019
1543 363-571-009 1593 363-573-002 1643 363-582-027 1693 363-590-048 1743 363-602-027 1793 363-612-013 1843 363-621-028 1893 363-640-004 1943 363-652-032 1993 363-662-020
1544 363-571.010 1594 363-573.003 1644 363.582-028 1694 363.590-049 1744 363.602-028 1794 363-612.014 1844 363.621.029 1894 363.640-005 1944 363.652-033 1994 363-680.007
1545 363-571-011 1595 363-573-004 1645 363-582-029 1695 363-590-050 1745 363-602-029 1795 363-612-015 1845 363-621-030 1895 363-640-006 1945 363-652-034 1995 363-680-008
1546 363-571.012 1596 363-673.005 1646 363.590-001 1696 363.590-051 1746 363.602-030 1796 363-612.016 1846 363.621.031 1896 363.640-007 1946 363-652-035 1996 363-680.009
1547 363-571-013 1597 363-573-006 1647 363-590-002 1697 363-590-052 1747 363-602-031 1797 363-612-017 1847 363-621-032 1897 363-640-008 1947 363-652-036 1997 363-680-010
O 1548 363-571-014 1598 363-573-007 1648 363-590-003 1698 363-590-053 1748 363-602-032 1798 363-612-018 1848 363-621-033 1898 363-651-001 1948 363-652-037 1998 363-680-011
C 1549 383-571-015 1599 363-573-008 1649 363-590-004 1699 363-601-001 1749 363-602-033 1799 363-612-019 1849 363-621-034 1899 363-651-002 1949 363-652-038 1999 363-680-012
1550 363-571-016 1600 363-573-009 1650 363-590-005 1700 363-601-002 1750 363-602-034 1800 363-612-020 1850 363-621-035 1900 363-651-003 1950 363-652-039 2000 363-680-013
SPICER CONSULTING
G R O U P
SHEET 22 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssmtNo. APN RBA-Mo. APN ReAssmtNo. APN ReA-.tNo. APN ReAssmlNo. APN ReMsmtNo. APN WssmtNo. APN R.AssmtNo. APN ReAssmlNo. APN lleksmtNo. APN
2001 363-680-014 2051 363-690-015 2101 363-701-011 2151 363-710-023 2201 363-721-011 2251 363-730-011 2301 363-730-064 2351 363-791-006 2401 363-800-038 2451 363-810-006
2002 363-681-006 2052 363-690-016 2102 363-701-012 2152 363-720-001 2202 363-721-012 2252 363-730-012 2302 363-730-065 2352 363-791-007 2402 363-800-039 2452 363-810-007
2003 363-681-007 2053 363-690-017 2103 363-702-001 2153 363-720-002 2203 363-721-013 2253 363-730-013 2303 363-730-066 2353 363-791-008 2403 363-800-040 2453 363-810-008
2004 363-681-008 2054 363-690.018 2104 363.702-002 2154 363.72NO03 2204 363.721-014 2254 363-730-014 2304 363-730.067 2354 363.791-009 2404 363.800.041 2454 363.810.009
2005 363-681-009 2055 363-690-019 2105 363-702-003 2155 363-720-004 2205 363-721-015 2255 363-730-015 2305 363-730-068 2355 363-791-010 2405 363-800-042 2455 363-810-010
2006 363-681.010 2056 363.690.020 2106 363-702-004 2156 363.720-005 2206 363.721-016 2256 363-730.016 2306 363.730.069 2356 363-791-011 2406 363.800-043 2456 363-810.011
2007 363-681-011 2057 363-690-021 2107 363-702-005 2157 363-720-006 2207 363-721-017 2257 363-730-017 2307 363-730-070 2357 363-791-012 2407 363-800-044 2457 363-810-012
2008 363-681-012 2058 363-690-022 2108 363-702-006 2158 363-720-007 2208 363-721-018 2258 363-730-018 2308 363-730-071 2358 363-791-013 2408 363-800-045 2458 363-810-013
2009 363-681-013 2059 363-690-023 2109 363-702-007 2159 363-720-008 2209 363-722-001 2259 363-730-019 2309 363-730-072 2359 363-791-014 2409 363-800-046 2459 363-810-014
2010 363-681-014 2060 363-690-024 2110 363-702-008 2160 363-720-009 2210 363-722-002 2260 363-730-020 2310 363-730-073 2360 363-791-015 2410 363-800-047 2460 363-810-015
2011 363-681.015 2061 363-690.025 2111 363.702-009 2161 363.720-010 2211 363.722-003 2261 363-730.021 2311 363430.074 2361 363.791-018 2411 363.800-048 2461 363-810.016
2012 363-681-016 2062 363-690-026 2112 363-702-010 2162 363-720-011 2212 363-722-004 2262 363-730-022 2312 363-730-075 2362 363-791-019 2412 363-800-049 2462 363-810-017
2013 363-681.017 2063 363.690.027 2113 363-702-011 2163 363.720-012 2213 363-722-005 2263 363-730.023 2313 363-730-076 2363 363-791-020 2413 363.800-050 2463 363-810.018
2014 363-681-018 2064 363-690-028 2114 363-702-012 2164 363-720-013 2214 363-722-GDG 2264 363-730-024 2314 363-730-077 2364 363-791-021 2414 363-801-001 2464 363-810-019
2015 363-681-019 2065 363-690-029 2115 363-702-013 2165 363-720-014 2215 363-722-007 2265 363-730-025 2315 363-730-078 2365 363-791-022 2415 363-801-002 2465 363-810-020
2016 363-681-020 2066 363-690-030 2116 363-702-014 2166 363-720-015 2216 363-722-008 2266 363-730-026 2316 363-730-079 2366 363-791-023 2416 363-801-003 2466 363-810-021
2017 363-681-021 2067 363-690-031 2117 363-702-015 2167 363-720-016 2217 363-722-009 2267 363-730-027 2317 363-730-080 2367 363-791-024 2417 363-801-004 2467 363-810-022
2018 363-681.022 2068 363.690.032 2118 363.702-016 2168 363.720-017 2218 363-722-010 2268 363-730-028 2318 363-730-081 2358 36&800-001 2418 363.801-005 2468 363-810.023
2019 363-681-023 2069 363-690-033 2119 363-702-017 2169 363-720-018 2219 363-722-011 2269 363-730-029 2319 363-730-082 2369 363-800-002 2419 363-801-006 2469 363-810-024
2020 363-681.024 2070 363-690.034 2120 363-702-018 2170 363.720-019 2220 363.722-012 2270 363-730.030 2320 363-730.083 2370 363-800-005 2420 363.801-007 2470 363-810.025
2021 363-681-025 2071 363-690-035 2121 363-702-019 2171 363-720-020 2221 363-722-013 2271 363-730-031 2321 363-790-001 2371 363-800-006 2421 363-801-008 2471 363-810-026
2022 363-682-001 2072 363-690-036 2122 363-702-020 2172 363-720-021 2222 363-722-014 2272 363-730-032 2322 363-790-002 2372 363-800-007 2422 363-801-009 2472 363-810-027
2023 363-682-002 2073 363-690-037 2123 363-702-021 2173 363-720-022 2223 363-722-015 2273 363-730-033 2323 363-790-003 2373 363-800-008 2423 363-801-010 2473 363-810-028
2024 363-682-003 2074 363-690-038 2124 363-702-022 2174 363-720-023 2224 363-722-016 2274 363-730-034 2324 363-790-004 2374 363-800-009 2424 363-801-011 2474 363-810-029
2025 363-682.004 2075 363.690.039 2125 363-702-023 2175 363.720-024 2225 363.722-017 2275 363-730.035 2325 363.790.005 2375 363-800-010 2425 363.801-012 2475 363-810.030
2026 363-682-005 2076 363-690-040 2126 363-702-024 2176 363-720-025 2226 363-722-018 2276 363-730-036 2326 363-790-006 2376 363-800-011 2426 363-801-013 2476 363-810-031
2027 363-682.006 2077 363-690.041 2127 363-702-025 2177 363.720-026 2227 363.722-019 2277 363-730.037 2327 363-790.007 2377 363-800-012 2427 363.801-014 2477 363-810.032
2028 363-682-007 2078 363-690-042 2128 363-702-026 2178 363-720-027 2228 363-722-020 2278 363-730-038 2328 363-790-008 2378 363-800-013 2428 363-801-015 2478 363-810-033
2029 363-683-001 2079 363-690-043 2129 363-702-027 2179 363-720-028 2229 363-723-001 2279 363-730-039 2329 363-790-009 2379 363-800-014 2429 363-801-016 2479 363-810-034
2030 363-683.002 2080 363490.044 2130 363.710-001 2180 363.720-029 2230 363.723.002 2280 363-730-040 2330 363.790.010 2380 363.800-015 2430 363.801-017 2480 363-810.035
2031 363-683-003 2081 363-690-045 2131 363-710-002 2181 363-720-030 2231 363-723-003 2281 363-730-041 2331 363-790-011 2381 363-800-016 2431 363-801-018 2481 363-820-001
2032 363-683.004 2082 363.690.046 2132 363-710-003 2182 363.720-031 2232 363.723-004 2282 363-730-042 2332 363.790.014 2352 36&800-017 2432 363.801-019 2482 363-820.002
2033 363-683-005 2083 363-690-047 2133 363-710-004 2183 363-720-032 2233 363-723-005 2283 363-730-043 2333 363-790-015 2383 363-800-018 2433 363-801-020 2483 363-820-003
2034 363-683.006 2084 363-690.048 2134 363-710-005 2184 363.720-033 2234 363.723.006 2284 363-730.044 2334 363-790.016 2394 363-800-019 2434 363.801-021 2484 363-820.004
2035 363-683-007 2085 363-690-049 2135 363-710-007 2185 363-720-034 2235 363-723-007 2285 363-730-045 2335 363-790-017 2385 363-800-020 2435 363-801-022 2485 363-820-005
2036 363-683-008 2086 363-690-050 2136 363-710-008 2186 363-720-035 2236 363-723-008 2286 363-730-046 2336 363-790-018 2386 363-800-021 2436 363-802-001 2486 363-820-006
2037 363-683.009 2087 363-700.001 2137 363.710-009 2187 363.72NO36 2237 363-723-009 2287 363-730-047 2337 363-790-019 2357 363.800-022 2437 363.802-002 2487 363-820.007
2038 363-683-010 2088 363-700-002 2138 363-710-010 2188 363-720-037 2238 363-723-010 2288 363-730-051 2338 363-790-020 2388 363-800-023 2438 363-802-003 2488 363-820-008
2039 363-683.011 2089 363.700.003 2139 363-710-011 2189 363.720-038 2239 363.723.011 2289 363-730.052 2339 363.790.021 2389 363-800-024 2439 363.802-004 2489 363-820.009
2040 363-690-001 2090 363-700-004 2140 363-710-012 2190 363-720-039 2240 363-723-012 2290 363-730-053 2340 363-790-022 2390 363-800-025 2440 363-802-005 2490 363-820-010
2041 363-690.002 2091 363-701.001 2141 363-710-013 2191 363.721-001 2241 363.730.001 2291 363-730.054 2341 363-790.023 2391 363-800-028 2441 363.802-006 2491 363-820.011
2042 363-690-003 2092 363-701-002 2142 363-710-014 2192 363-721-002 2242 363-730-002 2292 363-730-055 2342 363-790-024 2392 363-800-029 2442 363-803-001 2492 363-820-012
2043 363-690-004 2093 363-701-003 2143 363-710-015 2193 363-721-003 2243 363-730-003 2293 363-730-056 2343 363-790-025 2393 363-800-030 2443 363-803-002 2493 363-820-013
2044 363-690.005 2094 363-701.004 2144 363.710-016 2194 363.721-004 2244 363.730.004 2294 363-730.057 2344 363.790.026 2394 36&800-031 2444 363.803-003 2494 363-820.014
2045 363-690-006 2095 363-701-005 2145 363-710-017 2195 363-721-005 2245 363-730-005 2295 363-730-058 2345 363-790-027 2395 363-800-032 2445 363-803-004 2495 363-820-015
2046 363-690.007 2096 363.701.006 2146 363.710-018 2196 363.721-006 2246 363.730.006 2296 363-730.059 2346 363.791.001 2396 363-800-033 2446 363.810.001 2496 363-820.016
2047 363-690-008 2097 363-701-007 2147 363-710-019 2197 363-721-007 2247 363-730-007 2297 363-730-060 2347 363-791-002 2397 363-800-034 2447 363-810-002 2497 363-820-017
O 2048 363-690-009 2098 363-701-008 2148 363-710-020 2198 363-721-008 2248 363-730-008 2298 363-730-061 2346 363-791-003 2398 363-800-035 2448 363-810-003 2498 363-820-018
C 2049 363-690-010 2099 363-701-009 2149 363-710-021 2199 363-721-009 2249 363-730-009 2299 363-730-062 2349 363-791-004 2399 363-800-036 2449 363-810-004 2499 363-820-019
2050 363-690-014 2100 363-701-010 2150 363-710-022 2200 363-721-010 2250 363-730-010 2300 363-730-063 2350 363-791-005 2400 363-800-037 2450 363-810-005 2500 363-820-020
SPICER CONSULTING
G R O U P
SHEET 23 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssmtNo. APN ReAssmtNo. APN ReAss ft. APN 110-ft. APN WuneNo. APN ReAssmtNo. APN ReA-dNo. APN ReAssmtNo. APN R.A-MN.. APN RBAss Wft APN
2501 363-820.021 2551 363.820.071 2601 36&832-014 2651 363.840-027 2701 363.85HOI 2751 363-860.001 2801 363.862.030 2851 363.921-050 2901 363.922-024 2951 363-922.078
2502 363-820-022 2552 363-820-072 2602 363-832-015 2652 363-840-028 2702 363-850-002 2752 363-860-002 2802 363-862-031 2852 363-921-052 2902 363-922-025 2952 363-922-079
2503 363-820.023 2553 363-820.073 2603 363.832-016 2653 363.840-029 2703 363.850.003 2753 363-860.003 2803 363-862.032 2853 363-921-053 2903 363.922-026 2953 363-922.080
2504 363-820-024 2554 363-830-001 2604 363-832-017 2654 363-840-030 2704 363-850-004 2754 363-860-004 2804 363-862-033 2854 363-921-054 2904 363-922-027 2954 363-922-081
2505 363-820-025 2555 363-830-002 2605 363-832-018 2655 363-840-031 2705 363-850-005 2755 363-860-005 2805 363-862-034 2855 363-921-055 2905 363-922-028 2955 363-922-082
2506 363-820.026 2556 363-830.003 2606 36&832-019 2656 363.840-032 2706 363.850-006 2756 363-860-006 2806 363-862.035 2856 363.921-056 2906 363.922-030 2956 363.922.083
2507 363-820-027 2557 363-830-004 2607 363-832-020 2657 363-840-033 2707 363-850-007 2757 363-860-007 2807 363-921-001 2857 363-921-057 2907 363-922-031 2957 363-922-084
2508 363-820.028 2558 363.830.005 2608 363.833-001 2658 363.840-038 2708 363.850.008 2758 363-860.008 2808 363.921.002 2858 363-921-058 2908 363.922-032 2958 363-931.001
2509 363-820-029 2559 363-830-006 2609 363-833-002 2659 363-840-039 2709 363-850-009 2759 363-860-009 2809 363-921-003 2859 363-921-060 2909 363-922-033 2959 363-931-002
2510 363-820-030 2560 363-830-008 2610 363-833-003 2660 363-840-040 2710 363-850-010 2760 363-860-010 2810 363-921-004 2860 363-921-061 2910 363-922-034 2960 363-931-003
2511 363-820-031 2561 363-830-009 2611 363-833-004 2661 363-840-041 2711 363-850-011 2761 363-861-001 2811 363-921-005 2861 363-921-062 2911 363-922-035 2961 363-931-004
2512 363-820-032 2562 363-830-010 2612 363-833-005 2662 363-840-042 2712 363-850-012 2762 363-861-002 2812 363-921-006 2862 363-921-063 2912 363-922-036 2962 363-931-005
2513 363-820.033 2563 363-830.011 2613 363-833-006 2663 363.840-043 2713 363.850.013 2763 363-861.004 2813 363-921.007 2863 363.921-064 2913 363.922-037 2963 363-931.006
2514 363-820-034 2564 363-830-012 2614 363-833-007 2664 363-840-044 2714 363-851-001 2764 363-861-005 2814 363-921-008 2864 363-921-065 2914 363-922-038 2964 363-931-007
2515 363-820.035 2565 363.830.013 2615 363-833-008 2665 363.840-045 2715 363.851-002 2765 363-861.006 2815 363.921.009 2865 363-921-066 2915 363.922-040 2965 363-931.008
2516 363-820-036 2566 363-830-014 2616 363-833-009 2666 363-840-046 2716 363-851-003 2766 363-861-007 2816 363-921-010 2866 363-921-067 2916 363-922-041 2966 363-931-009
2517 363-820-037 2567 363-830-015 2617 363-833-011 2667 363-840-047 2717 363-851-004 2767 363-861-008 2817 363-921-011 2867 363-921-068 2917 363-922-042 2967 363-931-010
2518 363-820-038 2568 363-830-016 2618 363-833-012 2668 363-940-048 2718 363-851-005 2768 363-861-009 2818 363-921-013 2868 363-921-069 2918 363-922-043 2968 363-931-011
2519 363-820-039 2569 363-830-017 2619 363-833-013 2669 363-840-049 2719 363-851-006 2769 363-861-010 2819 363-921-014 2869 363-921-070 2919 363-922-044 2969 363-931-012
2520 363-820.040 2570 363-831.001 2620 36&833-014 2670 363.840-050 2720 363-852-001 2770 363-861.011 2820 363.921.015 2870 363.921-071 2920 363.922-045 2970 363-931.013
2521 363-820-041 2571 363-831-002 2621 363-833-015 2671 363-840-051 2721 363-852-002 2771 363-861-012 2821 363-921-016 2871 363-921-073 2921 363-922-046 2971 363-931-014
2522 363-820.042 2572 363-831.003 2622 363.833-016 2672 363.840-052 2722 363-852-003 2772 363-862.001 2822 363-921.017 2872 363-921-074 2922 363.922-047 2972 363-931.015
2523 363-820-043 2573 363-831-004 2623 363-833-017 2673 363-840-053 2723 363-852-004 2773 363-862-002 2823 363-921-018 2873 363-921-075 2923 363-922-048 2973 363-931-016
2524 363-820-044 2574 363-831-005 2624 363-833-018 2674 363-840-054 2724 363-852-005 2774 363-862-003 2824 363-921-019 2874 363-921-076 2924 363-922-049 2974 363-931-017
2525 363-820-045 2575 363-831-006 2625 363-833-019 2675 363-840-055 2725 363-852-006 2775 363-862-004 2825 363-921-020 2875 363-921-077 2925 363-922-051 2975 363-931-018
2526 363-820-046 2576 363-831-007 2626 363-840-001 2676 363-840-056 2726 363-852-007 2776 363-862-005 2826 363-921-021 2876 363-921-079 2926 363-922-052 2976 363-931-020
2527 363-820.047 2577 363-831.008 2627 363-840-002 2677 363.840-057 2727 363-852-008 2777 363-862-006 2827 363.921.022 2877 363.921-080 2927 363-922-053 2977 363-931.021
2528 363-820-048 2578 363-831-009 2628 363-840-003 2678 363-841-001 2728 363-852-009 2778 363-862-007 2828 363-921-023 2878 363-921-081 2928 363-922-054 2978 363-931-022
2529 363-820.049 2579 363-831.010 2629 363-840-004 2679 363.841-002 2729 363.852-010 2779 363-862.008 2829 363-921.024 2879 363-921-082 2929 363.922-055 2979 363-931.023
2530 363-820-050 2580 363-831-011 2630 363-840-005 2680 363-841-003 2730 363-852-011 2780 363-862-009 2830 363-921-025 2880 363-922-001 2930 363-922-056 2980 363-931-024
2531 363-820-051 2581 363-831-012 2631 363-840-006 2681 363-841-004 2731 363-852-012 2781 363-862-010 2831 363-921-026 2881 363-922-002 2931 363-922-057 2981 363-931-025
2532 363-820.052 2582 363-831.013 2632 363-940-008 2682 363.841-006 2732 363-852.013 2782 363-862.011 2832 36M21.027 2882 363-922-003 2932 363.922-058 2982 363-931.026
2533 363-820-053 2583 363-831-014 2633 363-840-009 2683 363-941-007 2733 363-852-014 2783 363-862-012 2833 363-921-028 2883 363-922-004 2933 363-922-059 2983 363-931-027
2534 363-820.054 2584 363-831.015 2634 363-840-010 2684 363.841-008 2734 363-852.015 2784 363-862-013 2834 363.921.030 2884 363-922-005 2934 363.922-060 2984 363-931.028
2535 363-820-055 2585 363-831-016 2635 363-840-011 2685 363-841-009 2735 363-852-016 27&5 363-862-014 2835 363-921-031 2885 363-922-006 2935 363-922-061 2985 363-931-029
2536 363-820.056 2586 363-831.017 2636 363-840-012 2686 363.841-010 2736 363.852-017 2786 363-862.015 2836 363-921.032 2886 363.922-007 2936 363.922-062 2986 363-931.030
2537 363-820-057 2587 363-831-018 2637 363-840-013 2687 363-841-011 2737 363-852-018 2787 363-862-016 2837 363-921-033 2887 363-922-008 2937 363-922-063 2987 363-931-031
2538 363-820-058 2586 363-831-019 2638 363-840-014 2668 363-841-012 2738 363-852-019 2788 363-862-017 2836 363-921-034 2888 363-922-010 2938 363-922-064 2988 363-931-032
2539 363-820.059 2589 363-832.001 2639 363.840-015 2689 363.841-013 2739 363.852-020 2789 363-862.018 2839 36M21.035 2889 363.922-011 2939 363.922-065 2989 363-931.033
2540 363-820-060 2590 363-832-002 2640 363-840-016 2690 363-841-014 2740 363-852-021 2790 363-862-019 2840 363-921-037 2890 363-922-012 2940 363-922-066 2990 363-931-034
2541 363-820.061 2591 363-832.003 2641 363-840-017 2691 363.841-016 2741 363.852-022 2791 363-862.020 2841 363.921.038 2891 363.922-013 2941 363.922-067 2991 363-931.035
2542 363-820-062 2592 363-832-004 2642 363-840-018 2692 363-841-017 2742 363-852-023 2792 363-862-021 2842 363-921-039 2892 363-922-014 2942 363-922-068 2992 363-931-036
2543 363-820.063 2593 363-832.005 2643 363-840-019 2693 363.841-018 2743 363.852-024 2793 363-862.022 2863 363-921.041 2893 363.922-015 2943 363.922-069 2993 363-931.037
2544 363-820-064 2594 363-832-006 2644 363-840-020 2694 363-941-019 2744 363-852-025 2794 363-862-023 2844 363-921-042 2894 363-922-016 2944 363-922-070 2994 363-931-038
2545 363-820-065 2595 363-832-007 2645 363-840-021 2695 363-841-020 2745 363-852-026 2795 363-862-024 2845 363-921-043 2895 363-922-017 2945 363-922-071 2995 363-931-039
2546 363-820.066 2596 363-832.008 2646 36M40-022 2696 363.841-021 2746 363.852-027 2796 363-862-025 2846 363-921.045 2896 363.922-018 2946 363.922-072 2996 363-931.041
2547 363-820-067 2597 363-832-009 2647 363-840-023 2697 363-841-022 2747 363-852-028 2797 363-862-026 2847 363-921-046 2897 363-922-020 2947 363-922-073 2997 363-931-042
2548 363-820.068 2598 363.832.011 2648 363.840-024 2698 363.841-023 2748 363.852-029 2798 363-862.027 2848 363.921.047 2898 363.922-021 2948 363.922-075 2998 363-931.043
C 2549 363-820-069 2599 363-832-012 2649 363-840-025 2699 363-841-024 2749 363-852-030 2799 363-862-028 2849 363-921-048 2899 363-922-022 2949 363-922-076 2999 363-931-044
2550 363-820-070 2600 363-832-013 2650 363-840-026 2700 363-841-025 2750 363-852-031 2800 363-862-029 2850 363-921-049 2900 363-922-023 2950 363.922-077 3000 363-931.045
SPICER CONSULTING
G R O U P
SHEET 24 OF 24 SHEETS
REASSESSMENT DIAGRAM
REASSESSMENT DISTRICT NO. 2021-1
(CANYON HILLS)
(LIMITED OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 2021)
CITY OF LAKE ELSINORE
COUNTY OF RIVERSIDE
STATE OF CALIFORNIA
ReAssmlNo. APN ReAssmtNo. APN ReAssmlNo. APN ReAssm No. APN ReAssmlNo. APN ReksmtNo. APN ReAssmlNo. APN ReMsmlNo. APN ReAssmlNo. APN
3001 363-931-046 3051 363-932-033 3101 363-933-014 3151 363-941-003 3201 363-941-055 3251 363-942-029 3301 363-943-006 3351 363-943-059 3401 363-944-028
3002 363-931.047 3052 363-932.034 3102 363.933-015 3152 363.941-004 3202 363.941-056 3252 363-942.030 3302 363-943.007 3352 363.943-060 3402 363-944-029
3003 363-931-048 3053 363-932-035 3103 363-933-016 3153 363-941-005 3203 363-941-057 3253 363-942-031 3303 363-943-008 3353 363-943-061 3403 363-944-030
3004 363-931-049 3054 363-932-036 3104 363-933-017 3154 363-941-006 3204 363-941-058 3254 363-942-032 3304 363-943-009 3354 363-943-062 3404 363-944-031
3005 363-931.050 3055 363-932.037 3105 363-933-018 3155 363.941-007 3205 363.941-059 3255 363-942.033 3305 363-943.010 3355 363.943-063 3405 363.944-032
3006 363-931-051 3056 363-932-038 3106 363-933-019 3156 363-941-008 3206 363-941-060 3256 363-942-034 3306 363-943-011 3356 363-943-064 3406 363-944-033
3007 363-931.052 3057 363.932.039 3107 363-933-020 3157 363.941-009 3207 363.941-061 3257 363-942.035 3307 363.943.012 3357 363.943-065 3407 363.9"035
3008 363-931-053 3058 363-932-040 3108 363-933-021 3158 363-941-010 3208 363-941-062 3258 363-942-036 3308 363-943-013 3358 363-943-066 3408 363-944-036
3009 363-931-054 3059 363-932-041 3109 363-933-022 3159 363-941-011 3209 363-941-063 3259 363-942-037 3309 363-943-014 3359 363-943-067 3409 363-944-037
3010 363-931-055 3060 363-932-043 3110 363-933-024 3160 363-941-012 3210 363-941-064 3260 363-942-038 3310 363-943-015 3360 363-943-068 3410 363-944-038
3011 363-931-056 3061 363-932-044 3111 363-933-025 3161 363-941-013 3211 363-941-065 3261 363-942-039 3311 363-943-016 3361 363-943-069 3411 363-944-039
3012 363-931.057 3062 363-932.045 3112 363.933-026 3162 363.941-014 3212 363.941-066 3262 363-942.040 3312 363-943.017 3362 363.943-071 3412 363.944-040
3013 363-931-059 3063 363-932-046 3113 363-933-027 3163 363-941-015 3213 363-941-067 3263 363-942-041 3313 363-943-018 3363 363-943-072 3413 363-944-041
3014 363-931.060 3064 363.932.047 3114 363.933-028 3164 363.941-016 3214 363.941-068 3264 363-942.042 3314 363.943.019 3364 363.943-073 3414 363.9W42
3015 363-931-061 3065 363-932-048 3115 363-933-029 3165 363-941-017 3215 363-941-069 3265 363-942-043 3315 363-943-020 3365 363-943-074
3016 363-931-062 3066 363-932-049 3116 363-933-030 3166 363-941-018 3216 363-941-070 3266 363-942-044 3316 363-943-021 3366 363-943-075
3017 363-931-063 3067 363-932-050 3117 363-933-031 3167 363-941-019 3217 363-941-071 3267 363-942-045 3317 363-943-022 3367 363-943-076
3018 363-931-064 3068 363-932-051 3118 363-933-032 3168 363-941-020 3218 363-941-073 3268 363-942-046 3318 363-943-023 3368 363-943-077
3019 363-931.065 3069 363.932.052 3119 363.933-033 3169 363.941-021 3219 363.941-074 3269 363-942.047 3319 363-943.025 3369 363.943-078
3020 363-932-001 3070 363-932-053 3120 363-933-034 3170 363-941-023 3220 363-941-075 3270 363-942-048 3320 363-943-026 3370 363-943-079
3021 363-932.002 3071 363-932.054 3121 363.933-035 3171 363.941-024 3221 363.941-076 3271 363-942.049 3321 363-943.027 3371 363.943-080
3022 363-932-003 3072 363-932-055 3122 363-933-036 3172 363-941-025 3222 363-941-077 3272 363-942-050 3322 363-943-028 3372 363-943-081
3023 363-932-004 3073 363-932-056 3123 363-933-037 3173 363-941-026 3223 363-941-078 3273 363-942-051 3323 363-943-029 3373 363-943-082
3024 363-932-005 3074 363-932-057 3124 363-933-038 3174 363-941-027 3224 363-942-001 3274 363-942-052 3324 363-943-030 3374 363-943-083
3025 363-932-006 3075 363-932-058 3125 363-933-039 3175 363-941-028 3225 363-942-002 3275 363-942-054 3325 363-943-031 3375 363-944-001
3026 363-932.007 3076 363.932.059 3126 363.933-040 3176 363.941-029 3226 363.942-003 3276 363-942.055 3326 363.943.032 3376 363.944-002
3027 363-932-008 3077 363-932-060 3127 363-933-041 3177 363-941-030 3227 363-942-004 3277 363-942-056 3327 363-943-033 3377 363-944-003
3028 363-932.009 3078 363-932.061 3128 363.933-042 3178 363.941-031 3228 363.942-005 3278 363-942.057 3326 363-943.034 3378 363.944-004
3029 363-932-010 3079 363-932-062 3129 363-933-043 3179 363-941-032 3229 363-942-00fi 3279 363-942-058 3329 363-943-035 3379 363-944-005
3030 363-932-011 3080 363-932-064 3130 363-933-045 3180 363-941-033 3230 363-942-007 3280 363-942-059 3330 363-943-037 3380 363-944-006
3031 363-932.012 3081 363432.065 3131 363.933-046 3181 363.941-034 3231 363.942-008 3281 363-942.060 3331 363-943.038 3381 363.944-007
3032 363-932-013 3082 363-932-066 3132 363-933-047 3182 363-941-035 3232 363-942-009 3282 363-942-061 3332 363-943-039 3382 363-944-008
3033 363-932.014 3083 363.932.067 3133 363.933-048 3183 363.941-036 3233 363.942-010 3283 363-942.062 3333 363-943.040 3383 363.944-009
3034 363-932-015 3084 363-932-068 3134 363-933-049 3194 363-941-037 3234 363-942-011 3284 363-942-063 3334 363-943-041 3394 363-944-010
3035 363-932.016 3085 363-932.069 3135 363.933-050 3185 363.941-038 3235 363.942-012 3265 363-942.064 3335 363-943.042 3385 363.944-011
3036 363-932-017 3086 363-932-070 3136 363-933-051 3186 363-941-039 3236 363-942-013 3286 363-942-065 3336 363-943-043 3386 363-944-012
3037 363-932-018 3087 363-932-071 3137 363-933-052 3187 363-941-040 3237 363-942-014 3287 363-942-066 3337 363-943-044 3387 363-944-013
3038 363-932.019 3088 363-933.001 3138 363-933-053 3188 363.941-041 3238 363.942-015 3288 363-942.067 3338 363-943.045 3388 363.944-014
3039 363-932-021 3089 363-933-002 3139 363-933-054 3189 363-941-042 3239 363-942-016 3289 363-942-068 3339 363-943-046 3389 363-944-015
3040 363-932.022 3090 363.933.003 3140 363-933-055 3190 363.941-043 3240 363.942-017 3290 363-942.069 3340 363.943.047 3390 363.944-016
3041 363-932-023 3091 363-933-004 3141 363-933-056 3191 363-941-044 3241 363-942-018 3291 363-942-070 3341 363-943-049 3391 363-944-017
3042 363-932.024 3092 363-933.005 3142 363.933-057 3192 363.941-045 3242 363.942-019 3292 363-942.071 3342 363-943.050 3392 363-944-018
3043 363-932-025 3093 363-933-006 3143 363-933-058 3193 363-941-047 3243 363-942-020 3293 363-942-072 3343 363-943-051 3393 363-944-019
3044 363-932-026 3094 363-933-007 3144 363-933-059 3194 363-941-048 3244 363-942-021 3294 363-942-073 3344 363-943-052 3394 363-944-020
3045 363-932.027 3095 363-933.008 3145 363-933-060 3195 363.941-049 3245 363.942-022 3295 363-942.074 3345 363-943.053 3395 363.944-022
3046 363-932-028 3096 363-933-009 3146 363-933-061 3196 363-941-050 3246 363-942-023 3296 363-943-001 3346 363-943-054 3396 363-944-023
3047 363-932.029 3097 363.933.010 3147 363-933-062 3197 363.941-051 3247 363.942-024 3297 363-943.002 3347 363.943.055 3397 363.944-024
3048 363-932-030 3098 363-933-011 3148 363-940-011 3198 363-941-052 3248 363-942-025 3298 363-943-003 3346 363-943-056 3398 363-944-025
C WO 363-932-031 3099 363-933-012 3149 363-941-001 3199 363-941-053 3249 363-942-026 3299 363-943-004 3349 363-943-057 3399 363-944-026
3050 363-932-032 3100 363-933-013 3150 363-941-002 3200 363-941-054 3250 363-942-028 3300 363-943-005 3350 363-943-058 3400 363-99-027
SPICER CONSULTING
G R O U P
r-
TM
SPICER CONSULTING
G R O U P