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( monimom )

Comments made by monimom

Poway Schools Rely On Mello-Roos Tax Machine For Lunches, Signs And Old School Repairs

So did Poway adopt "Local Goals & Policies"?

See page 20 of the following:

http://www.orrick.com/Events-and-Publ...

August 20, 2013 at 1:04 a.m. ( | suggest removal )

Poway Schools Rely On Mello-Roos Tax Machine For Lunches, Signs And Old School Repairs

Legislation should be enacted to require oversight, independent audits, and funds to be held with the County Treasurer.

Mello Roos funds are restricted and should only be used for the purpose set forth by agreement and pursuant to the disclosures made to Mello Roos bond investors in Official Statements. For example, see:

http://emma.msrb.org/ER622759-ER48285...

Someone should make a records request for the "School Impact Mitigation Agreement" and any supplements/amendments made thereto, which were executed by the district and developer (in the form of a general partnership). For example, the district entered into an agreement with "KS Kelwood General Partnership".

Lastly, the taxpayers may have a valid claim to challenge the Mello Roos tax under Proposition 218 given that the district is modifying the tax each year to include fees such as "administrative fees", which are above and beyond the amount necessary to pay off the Mello Roos bonds. Also, it appears that using the "surplus" funds to pay for improvements outside of the Community Facilities District, may be illegal...however, one needs to read the Mitigation Agreement to make this determination.

August 20, 2013 at 12:54 a.m. ( | suggest removal )