Draw on Reserve or Default Report
Western Hills Water District CFD No 1 Mello-Roos Community Facilities Districts
This report is based on unaudited information reported to the California Debt and Investment Advisory Commission pursuant to Government Code Section 53359.5(c) from sources considered to be reliable. The Commission is not liable for inadvertent errors or omissions that are reported as part of these reports.
Issuer: Western Hills Water District CFD No 1
County: Stanislaus
Project: Diablo Grande
Original Sale Date: 7/26/2001
CDIAC Number: 2000-1743
Type of Event: Draw on Reserves
Date of Event: 3/2/2008
Amount Withdrawn: $89,764.58
Contact: Robert Martz, Westhoff, Cone & Holmstedt
Phone Number: (925) 472-8746
Comments:
The Draw on Reserve was due to high delinquencies in the District by the Developer. The total Draw, $89,764.58 is the cumulative total drawn on the 2001, 2002, 2004 & 2005 Bond Series.
The Draw was made from excess monies available in the Reserve Fund, and the Reserve Fund remains OVER-funded subsequent to the draw. Therefore, this is NOT an Event of Default, NOR is it a Technical Default.
Date Received: 4/4/2008
Date posted to this website:
Friday, April 25, 2008
Issuer: Western Hills Water District CFD No 1
County: Stanislaus
Project: Diablo Grande
Original Sale Date: 12/13/2002
CDIAC Number: 2002-1904
Type of Event: Draw on Reserves
Date of Event: 3/2/2008
Amount Withdrawn: $89,764.58
Contact: Robert Martz, Westhoff, Cone & Holmstedt
Phone Number: (925) 472-8746
Comments:
The Draw on Reserve was due to high delinquencies in the District by the Developer. The total Draw, $89,764.58 is the cumulative total drawn on the 2001, 2002, 2004 & 2005 Bond Series.
The Draw was made from excess monies available in the Reserve Fund, and the Reserve Fund remains OVER-funded subsequent to the draw. Therefore, this is NOT an Event of Default, NOR is it a Technical Default.
Date Received: 4/4/2008
Date posted to this website:
Friday, April 25, 2008
Issuer: Western Hills Water District CFD No 1
County: Stanislaus
Project: Diablo Grande
Original Sale Date: 4/27/2004
CDIAC Number: 2004-0373
Type of Event: Draw on Reserves
Date of Event: 3/2/2008
Amount Withdrawn: $89,764.58
Contact: Robert Martz, Westhoff, Cone & Holmstedt
Phone Number: (925) 472-8746
Comments:
The Draw on Reserve was due to high delinquencies in the District by the Developer. The total Draw, $89,764.58 is the cumulative total drawn on the 2001, 2002, 2004 & 2005 Bond Series.
The Draw was made from excess monies available in the Reserve Fund, and the Reserve Fund remains OVER-funded subsequent to the draw. Therefore, this is NOT an Event of Default, NOR is it a Technical Default.
Date Received: 4/4/2008
Date posted to this website:
Friday, April 25, 2008
Issuer: Western Hills Water District CFD No 1
County: Stanislaus
Project: Diablo Grande
Original Sale Date: 1/13/2005
CDIAC Number: 2005-0066
Type of Event: Draw on Reserves
Date of Event: 3/2/2008
Amount Withdrawn: $89,764.58
Contact: Robert Martz, Westhoff, Cone & Holmstedt
Phone Number: (925) 472-8746
Comments:
The Draw on Reserve was due to high delinquencies in the District by the Developer. The total Draw, $89,764.58 is the cumulative total drawn on the 2001, 2002, 2004 & 2005 Bond Series.
The Draw was made from excess monies available in the Reserve Fund, and the Reserve Fund remains OVER-funded subsequent to the draw. Therefore, this is NOT an Event of Default, NOR is it a Technical Default.
Date Received: 4/4/2008
Date posted to this website:
Friday, April 25, 2008