Mello Roo

Mello Roo

A form of financing allowing a municipality or other local government such as a county or school district to issue bonds for very expensive projects. The municipality pays for Mello Roo bonds with a special tax levied exclusively for that purpose. In order for a municipality to become eligible to issue Mello Roo bonds, its residents must approve a measure by a two-thirds margin.
References in periodicals archive ?
Your article on the Lang Ranch Dam missed one very important point: Residents in Lang Ranch are paying a Mello Roos tax that, we are told, is for the beautification of our parks, streets, etc.
Why must our Mello Roos pay for problems totally unassociated with our development?
The county needs to be accountable to the residents of Lang Ranch and use our Mello Roos tax to put the basin out of view and out of the ancient oak grove.
A new law significantly expanding the scope of existing Mello Roos disclosure requirements took effect Jan.
The Mello Roos Community Facilities Act was passed in 1982 as a response to Proposition 13, which taxpayers approved in an effort to limit homeowner taxes.
However, negative publicity associated with Mello Roos caused an increase in the use of alternative financing as permitted by the 1915 Bond Improvement Act.
Additionally, properties located within 1915 Act Special Assessment districts are subject to the same accelerated foreclosure proceedings as Mello Roos districts.