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Redwood City CFD 2000-1 <br />2. SPECIAL TAX RATES & CREDIT CALCULATION <br />Spec'iai Tax Rates <br />The Specia! Taxes, r,':~ch were applied at 79.06% of the Maximum Special Tax Rate, <br />were levied to the 11 taxable parcels as follows: <br /> <br /> MAXIMUM APPLIED PARCELS COMMERCIAL TOTAL <br /> SPECIAL SPECIAL TAX LEVIED SQUARE DOLLARS <br /> TAX RATE RATE FOOTAGE LEVIED <br /> LEVIED <br /> $1.63 $1.2887 11 1,588,000 $2,046,502.24 <br /> <br /> The slight difference between the Spec'mi Tax Requirement and the total dollars to be <br /> levied is due to rounding. <br /> <br /> Credit Calculation <br /> <br /> The calendar year 2002 interest payments are made from the Capir~liTed Interest Fund. <br /> Funds available after the September 2002 debt service payment are calculated below: <br /> <br /> DESCRIPTION AMOUNT <br /> Reserve Fund Balance as of March 31, 2002 $2,102,595.12 <br /> Reserve Fund Requkement (2,076,235.00) <br /> 26,360.12 <br /> <br /> Special Tax Fund Balance as of March 31, 2002 22,350.66 <br /> Transfer to Expense Fund (22,350.66) <br /> 0.00 <br /> <br /> Administrative Expense Account as of March 31,2002 48,834.00 <br /> Transfer from Special Tax Fund 22,350.66 <br /> Administrative Expenses through September 2002 (2,314.69) <br /> Remain in Administrative Expense Account for future credit (61,922.47) <br /> 6,947.50 <br /> <br /> Capitalized Interest Account as of March 31, 2002 766,120.59 <br /> Amounts Due from County as of March 31, 2002 0.00 <br /> September 1, 2002 Debt Ser~tce Payment (546,481.25) <br /> Transfer to Improvement Fund (219,639.34) <br /> 0.00 <br /> <br /> Bond Fund Balance as of March 31, 2002 99.99 <br /> Total Credit/(Debit) to Levy $33,407.61 <br /> <br /> <br />