Res00 13849 - Laserfiche WebLink

Browse Search

EXHIBIT C RATE AND METHOD OF APPORTIONMENT CITY OF REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2000-1 (PACIFIC SHORES PROJECT) Section 1. Definitions The defined terms below shall apply wherever such terms are used in this Rate and Method of Apportionment. "Accessory Parcel" means the lots numbered 11 through 16 as shown on Exhibit B -1 to the Development Agreement, or as they may be modified from time to time, and any other parcel (other than a Common Parcel) used exclusively for purposes accessory to commercial /office development, including but not limited to fitness, multi- media, day care /education, marina resources, aquatic, conference, restaurant/cafe, retreat, grounds and building maintenance, or public rest rooms. "Act" means the Mello -Roos Community Facilities Act of 1982 (Chapter 2.5, Part 1, Division 2, Title 5 of the California Government Code), as amended from time to time. "Administrative Expenses" means the actual or estimated costs incurred by the City on behalf of itself or the CFD to determine, levy and collect the Special Taxes, including salaries of City employees and the fees of consultants, bond paying agents, fiscal agents and bond trustees; the costs of collecting installments of the Special Taxes; preparation and maintenance of required records and reports; preparation of financial audits; and any other costs required to administer the CFD or any bonds of the CFD. "Annual Costs" means, for each Fiscal Year, the total of 1) an amount sufficient to pay Debt Service, 2) Administrative Expenses, and 3) any amounts needed to replenish bond reserve funds and to make up for any deficit caused by actual or estimated delinquencies in Special Taxes for the previous or current Fiscal Year. "Annual Tax Revenues" means the amount of Special Taxes collected each Fiscal Year to pay the Annual Costs. "Assessor" means the Assessor for the County or his or her designee. Auditor" means the Auditor for the County or his or her designee. "Building Parcel" means, initially, the numbered lots 1 through 10 and the lettered lots 1P through 6P and 10P as shown on Exhibit B -I to the Development Agreement, and subsequently, any parcels into which such initial Building Parcels may be subdivided that are assigned Commercial Square Feet or Parking Units pursuant to Section 3 hereof. "CFD" means City of Redwood City Community Facilities District No. 2000 -1 (Pacific Shores Project). 3/13/00 13849 Draft 2128100 C -1