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Council shall determine that the Special Tax shall cease to be levied. The City Council shall then <br />direct the City Clerk to record a Notice of Cessation of Special Tax as provided by law. <br />Notwithstanding the foregoing, in no event shall the Special Tax be levied after the Fiscal Year <br />ending June 30, 2036. <br />Section 5. Maximum Annual Special Tax Rate <br />For each Taxable Parcel, the Maximum Annual Special Tax Rate shall be established for <br />both Developed Commercial Square Feet and Approved Commercial Square Feet as that <br />Maximum Annual Special Tax Rate applicable in the year in which such commercial square <br />footage first becomes subject to taxation. The Maximum Annual Special Tax Rate applicable to <br />particular Developed Commercial Square Feet or Approved Commercial Square Feet shall not <br />increase after the year in which it is first so applied. A Taxable Parcel may have more than one <br />Maximum Annual Special Tax Rate applicable to it. Maximum Annual Special Tax Rates shall be <br />established in accordance with the following schedule. <br />If the fiscal year beginning 7/1 in <br />which commercial square footage first Then for as long as the Parcel on which such commercial square feet is <br />becomes subject to taxation is: <br />located is a Taxable Parcel, such commercial square feet shall thereafter be <br />taxed at: <br />1999 <br />$0.232 <br />per square foot <br />2000 <br />$0.244 <br />per square foot <br />2001 <br />$0.258 <br />per square foot <br />2002 <br />$0.272 <br />per square foot <br />2003 <br />$0.287 <br />per square foot <br />2004 <br />$0.303 <br />per square foot <br />2005 <br />$0.319 <br />per square foot <br />2006 <br />$0.337 <br />per square foot <br />2007 <br />$0.355 <br />per square foot <br />2008 <br />$0.375 <br />per square foot <br />2009 <br />$0.395 <br />per square foot <br />2010 <br />$0.417 <br />per square foot <br />2011 <br />$0.440 <br />per square foot <br />2012 <br />$0.464 <br />per square foot <br />2013 <br />$0.490 <br />per square foot <br />Thereafter <br />$0.490 <br />per square foot <br />Inactive Parcels, Prepaid Parcels and Tax -Exempt Parcels shall not be subject to the levy of <br />Special Taxes. <br />Section 6. Apportionment, Levy and Selection of Special Tax Rates <br />A Special Tax rate per Developed Commercial Square Foot or Approved Commercial <br />Square Foot allocable to each Taxable Parcel in the CFD shall be established annually by the City <br />Council. The Special Tax rate or rates per Developed Commercial Square Foot or Approved <br />Commercial Square Foot allocable to each Taxable Parcel shall then be multiplied by the <br />IN <br />