[quote=sdnerd]
Perhaps I’m missing something, but the way I interpret everything thus far:
Right now they charge me $5,600/year.
They can, have, and presumably will continue to increase this amount annually by 2% until the last possible second. Behind the scenes they can pile on more debt, etc.
So my final annual payments will be approximately $9,500/year after factoring in annual 2% increases.
Temecula’s question is a good one.. whether or not that payout amount truly removes that entire bill (there’s not some fixed school fee/etc that would still remain).
Perhaps I’ll call again today and try to clarify.[/quote]
I guess PUSD board could decide that they don’t need the money?
Once you pay it off you should be free of any future obligations. Here is what I received from the CFD administrator two years ago:
When the School District receives the prepayment, the School District will then send a copy of check and accompanying paperwork Dolinka Group so that the
parcel can be removed from the Special Tax levy for the following Fiscal Year.
The School District will then send the prepayment to Joni D’Amico at Zions Bank to be deposited for the purpose of calling bonds, or to be used by the School District at a later date to construct facilities.
And from the annual report:
With respect to an Annual Special Tax obligation that has been prepaid, the Assistant Superintendent shall reasonably indicate in the records of CFD No. 6 that there has been a prepayment of the Annual Special Tax and shall reasonably cause a suitable notice to be recorded in compliance with the Act within thirty (30) days of receipt of such prepayment of Annual Special Taxes, to indicate reasonably the prepayment of Annual Special Taxes and the release of the Annual Special Tax lien on such Assessor’s Parcel, and the obligation of such Assessor’s Parcel to pay such Annual Special Tax shall cease.
