[quote=CA renter]Thanks for highlighting these bond issues, xgliu. That’s exactly why some of us would prefer to pay off the Mello-Roos ASAP. IMHO, they should never be allowed to extend or expand these bonds.[/quote]
EXACTLY. The thing that bothered me so much is it’s all very murky and hard to really understand. Even for people that have extensive experience in law or accounting or finance….. it seems like there are so many ways they can potentially screw you in the future.
On that KPBS article, I asked the reporter to address other Mello-Roos issues including in which cases the CFD’s can legally extend these bonds out past their ORIGINAL pay off dates. She said that they are working on more stories about Mello Roos.
I REALLY hope they address some specific things like:
1) When is the original expected/planned pay off date of these Mello-Roos taxes in each area?
2) In what specific circumstances can these CFD taxes be extended out from their original targeted/planned pay off dates?
3) Which CFD areas have refinanced the bonds at today’s record low interest rates? To note the CFD’s that HAVE refinanced at today’s record low interest rates? And list specifically why the ones that haven’t refinanced at today’s record low interest rates haven’t done so already? If they haven’t, is there any legal reason why they can’t refinance at today’s record low rates?
4) I’d love to see the original balance of each CFD tax along with a year by year balance of how much has been paid down each year and what the current balance is?
5) Are there any CFD areas where they can already project out that they will need to be extended past their ORIGINAL pay off dates?
There are probably other interesting things to note but I’d love to see them address these questions above in future stories.
