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When all of the CFD's Administrative Expenses and Debt Service obligations are satisfied <br />bonds authorized for issuance by the CFD remain either unissued or outstanding, the City <br />determine that the Special tax shall cease to be levied. The City Council shall then <br />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 />30, 2036. <br />Maximum Annual Special Tax Rate <br />each Taxable Pamel, the Maximum Annual Special Tax Rate shall be established for <br />Developed Commemial Square Feet and Approved Commercial Square Feet as that <br />Annual Special Tax Rate applicable.in the year in which such commercial square <br />becomes subject to taxation. The Maximum Annual Special Tax Rate applicable to a <br />Parcel with Developed or Approved Commercial Square Feet shall not increase after the <br />it is first so applied. A Taxable Parcel may have more than one Maximum Annual <br />Rate applicable to it. Maximum Annual Special Tax Rates shall be established in <br />with the following schedule. <br />beginnin9 7/1 in <br /> commercial square footage first Then for as long as the Pamel on which such commemial square feet is <br /> subject to taxation is: located is a Taxable Parcel, such commercial square feet shall thereafter be <br /> taxed at: <br /> 1999 $0.262 per square foot <br /> 2000 $0.277 per square foot <br /> 2001 $0.292 per square foot <br /> 2002 $0.308 per square foot <br /> 2003 $0.325 ~er square foot <br /> 2004 $0.343 Der square foot <br /> 2005 $0.362 Der square foot <br /> 2006 $0.382 ~er square foot <br /> 2007 $0.402 ~er square foot <br /> 2008 $0.425 ~er square foot <br /> 2009 $0.448 ~er square foot <br /> 2010 $0.473 per square foot <br /> 2011 $0.499 per square foot <br /> 2012 $0.526 per square foot <br /> 2013 $0.565 per square foot <br /> Thereafter $0.555 per square foot <br /> <br /> Parcels, Prepaid Parcels and Tax-Exempt Parcels shall not be subject to the levy of <br /> Taxes. <br /> Apportionment, Levy and Selection of Special Tax Rates <br /> Special Tax rate per Developed Commercial Square Foot or Approved Commercial <br /> allocable to each Taxable Parcel in the CFD shall be established annually by the City <br /> The Special Tax rate or rates per Developed Commercial Square Feet or Approved <br /> C-5 <br /> 13590 <br /> <br /> <br />