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Redwood City CFD 200 1 <br /> <br />Special Tax Levy <br /> <br />Special Taxes of $2,046,502.24 will be levied on 11 parcels totaling 1,588,000 of taxable <br />commercial square footage for Fiscal Year (FY) 2002/03. The Applied Special Tax <br />represents an applied rate of 79.06% of the Maximum Special Tax Rate on ali taxable <br />property. <br /> <br />Delinquencies <br /> <br />Fiscal year 2002/2003 will be the first year the District will be le~4ed. <br /> <br />Prepayments of the Special Tax Obligation <br /> <br />No parcels have prepaid theix special tax obligation in the District. <br /> <br />Reserve Fund <br /> <br />The Reserve Fund balance as at March 31, 2002 was $2,102,595.12. This is $26,360.12 <br />above the Reserve Requirement of $2,076,235. <br /> <br />Action Items <br /> <br />Funds remaining in the Capit, liTed Interest Account after the payment of the September <br />1, 2002 Debt Service should be transferred to the Improvement Fund (funds remaining <br />estimated at $219,639.34). <br /> <br />Funds in the Special Tax Fund originating from the Cost of Issuance Fund should be <br />transferred to the Expense Fund ($22,350.66 as at March 31, 2002). <br /> <br /> <br />