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Commercial Square Feet allocable to each Taxable Parcel shall then be multiplied by such Developed Commercial Square Foot or Approved Commercial Square Foot on each such Taxable Parcel to determine the Special Tax applicable to each such Taxable Parcel. Pdor July 1 of each Fiscal Year for which Annual Costs are payable, the Special Tax rate per Developed Commercial Square Foot or Approved Commercial Square Foot allocable to each Taxable Parcel in the CFD shall be established as follows: Step 1 The total Annual Costs for such Fiscal Year shall be determined. Step 2 The sum of unexpended fund balances (including amounts collected in the prior Fiscal Year to be applied to Debt Service in such Fiscal Year) held under the fiscal agent agreement securing outstapding bonds that is available to pay Debt Service in such Fiscal Year shall be determined. Step 3 The amount of Debt Service due in such Fiscal Year payable from Annual Tax Revenues collected in the prior Fiscal Year shall be determined. Step 4 The amounts calculated in steps 1 and 3 above shall be added together and the amount determined in step 2 above shall be subtracted from such sum to arrive at the Annual Tax Revenues to be collected in such Fiscal Year. Step 5 The Maximum Annual Special Tax Rate (or rates, as the case may be) applicable to each Taxable Parcel shall be multiplied by the taxable commercial square feet corresponding to such rate(s). Step 6 If the total of the amounts calculated in Step 5 is greater than the Annual Costs, all Special Tax rates shall be decreased by equal proportions of the applicable Maximum Annual Special Tax Rates until the Special Tax rates on all Taxable Parcels produces Annual Tax Revenue equal to the Annual Costs. Step 7 An annual Special Tax shall be determined for each Taxable Parcel by multiplying the Special Tax rate(s) identified in Step 6 above times the number of commercial square feet taxable at such Special Tax rate(s) on each such Taxable Parcel. After each Parcel has been annually classified, the annual Special Tax and Principa[ Prepayment Amount for each Taxable Parcel has been ~:alculated and a Special Tax Report for such Fiscal Year has been approved by resolution of the City Council in July of each Fiscal Year, the City Manager shall forward a Tax Collection Schedule showing the annual Special Tax liability for each Taxable Parcel to the County Auditor, requesting that the Tax Collection Schedule be placed on the secured property tax roll for the applicable Fiscal Year. The Tax Collection Schedule shall be sent not later than August 10 or such other date required by the County Auditor for such placement. The City shall make every effort to correctly assign the Special Tax rates and calculate the annual Special Tax liability for each Taxable Parcel and the annual Principal Prepayment Amount for each Taxable Parcel. It shall be the burden of the taxpayer to correct any errors in the C-6 13590