During each reporting annual period listed above, no refunds were made from this fund pursuant to Government Code Section 6600.1
Funding collected is to be used for building new roads to expand the city as new development occurs in previously undeveloped areas. This funding is currently supporting the projects for the Green Tree Extension to connect to Yucca Loma and the Bear Valley Bridge Widening project over the BNSF Railroad Bridge west of Industrial Blvd. The City of Victorville has established an agreement with San Bernardino County Transportation Authority to borrow funding to complete the Green Tree Extension in exchange for repayment from future DIF funding received by the City. Future financing will continue the use of this funding for the above listed projects.
As mentioned previously, and interfund loan in the amount of $7,725,000 was made from Roads Fund 352 to the Public Building Fund 350 as described above. The interest rate for the loan was established at the annualized (averaged) Local Agency Investment Fund “LAIF” rate and originally had a term ending on June 30, 2016. The loan term was subsequently extended to June 30, 2021 and a request to extend the term is being made prior to FYE 22.
Additionally, an interfund loan was made from Road Fund 352 to the Fire Fund 351 as described above. The loan in the original amount of $2,658,525 was established at the annualized (averaged) LAIF rate as simple interest. Such loan had a term ending June 30, 2021. Subsequent to this reporting period, on May 17, 2022, repayment to the Road DIF in the amount of $2,286,536 by the General Fund, on behalf of the Fire DIF, was approved by the City Council.
During each reporting annual period listed above, no refunds were made from this fund pursuant to Government Code Section 6600.1
Funding collected is to be used for facilities and equipment in connection with the expansion of police services as new development occurs. The majority of the funds are currently tied into an interfund loan receivable, and the focus of this fund is toward a new larger police facility. That project is not expected to commence until sufficient funds have been collected.
An interfund loan in the amount of $1,150,000 was made from the Public Safety Fund 353 to the Public Building Fund 350 as described above. The interest rate for the loan was established at the annualized (averaged) Local Agency Investment Fund “LAIF” rate and originally had a term ending on June 30, 2016. The loan term was subsequently extended to June 30, 2021 and a request to extend the term is being made prior to FYE 22.
During each reporting annual period listed above, no refunds were made from this fund pursuant to Government Code Section 6600.1
Funding collected is to be used for new or expanded parks, park amenities, recreational facilities, or expansions of services as new development occurs in the area. Certain City parks and community centers were pledged as security for a 2007 bond, so the city must seek approval prior to modifying or taking any action on these properties outside of routine maintenance. The encumbrance on these City facilities has made it difficult and cost prohibitive to utilize much of
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