EMWD authorizes bond issuance for Willow Springs CFD

In 2018, the Eastern Municipal Water District formed a community facilities district for what is now the Willow Springs development. An EMWD board action on March 19 approved the issuance of bonds to reimburse past expenses related to water and sewer improvements within the development area.The 5-0 vote approves the issuance of up to $15,000,000 of bonds. The board also approved the form of the trust indenture, bond purchase agreement, continuing disclosure certificate, and preliminary official statement while authorizing EMWD General Manager Joe Mouawad or his designee to provide the necessary services for the issuance of the bonds.A community facilities district includes a special tax (sometimes known as Mello-Roos taxes due to the state legislators who authored the option for se
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