Laserfiche WebLink
- EXHIBIT C <br /> <br /> RATE AND METHOD OF APPORTIONMENT <br /> REDWOOD SHORES COMMUNITY FACILITIES DISTRICT NO. 99-1 <br /> (SHORES TRANSPORTATION IMPROVEMENT PROJECT) <br /> OF THE CITY OF REDWOOD CITY <br /> <br /> Section 1. Definitions <br /> <br /> The defined terms below shall apply wherever such terms are used in <br /> this Rate and Method of Apportionment. <br /> <br />"Act" means the Mello-Roos Community Facilities Act of 1982 (Chapter 2.5, <br />Part 1, Division 2, Title 5 of the California Government Code), as amended <br />from time to time. <br /> <br />"Administrative Expenses" means the actual or estimated costs incurred by <br />the City to determine, levy and collect the Special Taxes, including salaries of <br />City employees and the fees of consultants, corporate bond paying agents, <br />fiscal agents and bond trustees; the costs of collecting installments of the <br />Special Taxes; preparation and maintenance of required records and reports; <br />preparation of financial audits; and any other costs required to administer the <br />CFD. <br /> <br />"Annual Costs" means, for each Fiscal Year, the total of 1) an amount <br />sufficient to pay Debt Service in a timely manner, 2) Administrative <br />Expenses, and 3) any amounts needed to replenish bond reserve funds and to <br />make up for any deficit caused by actual or estimated delinquencies in Special <br />Taxes for the previous or current Fiscal Year. <br /> <br />"Annual Tax Revenues" means the amount of Special Taxes collected each <br />Fiscal Year to pay the Annual Costs. <br /> <br />"Approved Commercial Parcel" means a Commercial Parcel that has been <br />approved for commercial development by the City pursuant to a vested <br />Development Agreement or a recorded final map approved by the City and is <br />not a Developed Commercial Parcel. <br /> <br />"Approved Commercial Square Feet" means the maximum amount of <br />commercial square feet that could be constructed on an Approved <br />Commercial Parcel pursuant to a vested Development Agreement or a <br />recorded final map approved by the City. If an Approved Commercial Parcel <br />is subdivided, the City Manager may assign Approved Commercial Square <br />Feet to successor Parcels provided that the total number of Approved <br />Commercial Square Feet on such successor Parcels may not exceed the <br />Approved Commercial Square Feet assigned to the predecessor Parcel. <br /> <br />"Auditor" means the Auditor for the County or his or her designee. <br /> <br />(4/27/99) C-1 13611 <br /> <br /> <br />