REDEVELOPMENT AGENCY OF THE CITY OF SAN JACINTO. Soboba Springs Project Area $965, Tax Allocation Bonds Issue Date: July 28, 1999

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1 REDEVELOPMENT AGENCY OF THE CITY OF SAN JACINTO Soboba Springs Project Area $965, Tax Allocation Bonds Issue Date: July 28, 1999 ANNUAL REPORT TO REPOSITORY March 31, 2009

2 CONTACT INFORMATION ISSUER Thomas Prill City of San Jacinto 595 S. San Jacinto Ave. San Jacinto, CA Telephone: (951) BOND COUNSEL Rutan & Tucker, LLP 611 Anton Blvd., Suite 1400 Costa Mesa, CA Telephone: (714) FINANCIAL ADVISOR Suzanne Q. Harrell Harrell & Company Advisors, LLC 333 City Boulevard West, Suite 1430 Orange, CA Telephone: (714) TRUSTEE Jennifer Earle Union Bank of California, N.A. 120 South San Pedro Street, Suite 400 Los Angeles, CA Telephone: (213)

3 CUSIP NUMBERS The information contained herein applies to Bonds with the following CUSIP number: AP4 CONTENT OF ANNUAL REPORT Pursuant to the Continuing Disclosure Certificate for the above-reference issue, the Annual Report is due no later than March 31 each year. This Annual Report contains (1) The audited Financial Statements of the Agency for the year ended June 30, 2008; (2) Updated Assessment Appeals; (3) Tax Revenues and Bond Retirement (historical coverage ratio); (4) Historical Assessed Valuations and Tax Increment Revenues; (5) Five Largest Taxpayers as a Percent of Secured Assessed Value; and (6) The Report of Independent Financial Consultant relating to the Remaining Revenues and the Redemption Amount. This Annual Report will be the final Annual Report filed for this issue. FINANCIAL STATEMENTS The audited Financial Statements of the Redevelopment Agency of the City of San Jacinto for the year ended June 30, 2008 are included herewith. Page 1

4 THE PROJECT AREA ASSESSMENT APPEALS As of January 2009, there are no pending appeals in the Project Area. TAX REVENUES AND BOND RETIREMENT Fiscal Tax Year Increment Tax Sharing SB 2557 Housing Tax Debt Coverage Ending Revenue (1) Agreements Charges Set Aside Revenues Service Ratio 2008 $536,795 ($48,933) ($4,800) ($107,359) $375,703 $63, % (1) Including supplemental revenues. HISTORICAL ASSESSED VALUATIONS AND TAX INCREMENT REVENUES 2004/ / / / /09 Secured $ 34,559,925 $ 43,731,288 $ 47,998,870 $ 52,202,865 $ 54,102,567 Unsecured 12,257 24, , , ,788 Total $ 34,572,182 $ 43,756,261 $ 48,370,297 $ 52,530,916 $ 54,293,355 Less: Base year (3,094,164) (3,094,164) (3,094,164) (3,094,164) (3,094,164) Incremental Increase $ 31,478,018 $ 40,662,097 $ 45,276,133 $ 49,436,752 $ 51,199,191 Tax Rate % % % % % Tax Increment Revenues $ 316,606 $ 408,735 $ 454,891 $ 496,593 $ 511,992 Unitary Revenues 2,288 2,681 3,441 3,879 3,900 Total Tax Revenues $ 318,894 $ 411,416 $ 458,332 $ 500,472 $ 515,892 (1) Tax Revenue is based on August 20 equalized tax roll and does not reflect adjustments for supplemental revenues. Tax Revenues for 2008/09 are estimates only. Page 2

5 FIVE LARGEST TAXPAYERS AS A PERCENT OF SECURED ASSESSED VALUE 2008/09 % of Secured Secured Taxpayer Assessed Assessed Land Value Value Use Soboba Band of Luiseno Indians $ 25,640, % Vacant Residential & Golf Course Roy & Irene Sanchez 409, % SFR William Dall Trust 388, % SFR Eileen Pfaff Trust 347, % SFR Robert Illington 265, % SFR Total $ 27,050, % THE REPORT OF INDEPENDENT FINANCIAL CONSULTANT RELATING TO THE REMAINING REVENUES AND THE REDEMPTION AMOUNT IS ATTACHED The cumulative Remaining Revenue for 2008 was $426,737 and the Redemption Amount for 2008 was $235,000. This amount represented all outstanding Bonds as of September 1, 2008, other than the scheduled sinking account payment due on September 1, 2008 of $45,000. The Agency will redeem all outstanding Bonds on September 1, ****************************************************************************************** Page 3

March 31, 2008 REPORT OF INDEPENDENT FISCAL CONSULTANT Redevelopment Agency of the City of San Jacinto Soboba Springs Project Area 1999 Tax Allocation Bonds (the Bonds ) This report ( Report ) has

6 March 31, 2008 REPORT OF INDEPENDENT FISCAL CONSULTANT Redevelopment Agency of the City of San Jacinto Soboba Springs Project Area 1999 Tax Allocation Bonds (the Bonds ) This report ( Report ) has been prepared for the purpose of calculating special mandatory redemptions and demonstrating the availability of sufficient Tax Revenues to pay debt service on all Outstanding Bonds pursuant to the Indenture of Trust dated July 1, 1999 (the Indenture ) for the above referenced issue. Harrell & Company Advisors is an Independent Fiscal Consultant within the meaning of Section 1.01 of the Indenture. We have read the pertinent provisions of the Indenture to which this report relates. We have received information regarding the tax increment revenue receipts since the date of issuance of the Bonds from the Riverside County Auditor/Controller. The calculations made within this report are based upon those figures. In our opinion, sufficient examination was made as is necessary to enable us to express an informed opinion with respect to the calculation of the Remaining Revenue, and the Redemption Amount, as defined in the Indenture, in order that sufficient Tax Revenues will be available to timely pay future debt service on all Outstanding Bonds. The Remaining Revenue, based upon the calculations on Exhibit A hereto, is $426,737. The Indenture requires that, to the extent that there is any Remaining Revenue, this Report will set forth the amount of Bonds that must be redeemed in order that sufficient Tax Revenues will be available to timely pay future annual debt service on all Outstanding Bonds. The Redemption Amount is $242,050 and the amount of Bonds to be redeemed pursuant to the Indenture is $235,000. The Remaining Revenue is sufficient to redeem all the Outstanding Bonds on September 1, 2008, other than the regularly scheduled sinking account payment due September 1, 2008 in the amount of $45,000. HARRELL & COMPANY ADVISORS, LLC The City Tower, 333 City Boulevard West, Suite 1430, Orange, California Tel: Fax:

7 EXHIBIT A Calculation of Remaining Revenue As of June 30, 2008 Actual Remaining Projected Receipts Revenue Cumulative Tax Revenues Received Since Issuance of the Bonds $ 1,006,265 (1) $ 1,873,228 (2) $ 866,963 Prior Years Remaining Revenue 440,226 Remaining Revenue as of June 30, 2008 $ 426,737 (1) From Table No 1 of the Official Statement. (2) Source: Riverside County Auditor-Controller.

SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY LA QUINTA REDEVELOPMENT PROJECT AREAS NO. 1 AND 2 SUBORDINATE TAX ALLOCATION REFUNDING BONDS

SUCCESSOR AGENCY TO THE LA QUINTA REDEVELOPMENT AGENCY LA QUINTA REDEVELOPMENT PROJECT AREAS NO. 1 AND 2 SUBORDINATE TAX ALLOCATION REFUNDING BONDS $97,190,000 2013 SERIES A $23,055,000 2013 TAXABLE SERIES