Laserfiche WebLink
08/09/2010 <br />EXHIBIT C <br />Bond Redemption Amount <br />plus Redemption Premium <br />plus Future Facilities Amount <br />plus Defeasance Amount <br />plus Administrative Fees and Expenses <br />less Reserve Fund Credit <br />less Capitalized Interest Credit <br />Total: equalsSpecial Tax Prepayment Amount <br />ATTACHMENT 2 <br />As of the proposed date of prepayment, the Special Tax Prepayment Amount shall be <br />calculated according to the following paragraphs: <br />1. Confirm that no Special Tax delinquencies apply to such Assessor's Parcel. <br />2. For Assessor's Parcels of Developed Property, compute the Maximum Special <br />Tax for the Assessor's Parcel to be prepaid. For Assessor's Parcels of <br />Undeveloped Property for which a building permit has been issued after May 1 of <br />the Fiscal Year preceding the Fiscal Year for which the Special Taxes are being <br />levied, compute the Maximum Special Tax for that Assessor's Parcel as though it <br />was already designated as Developed Property, based upon the building permit <br />which has already been issued for that Assessor's Parcel. <br />3. Divide the Maximum Special Tax computed pursuant to paragraph 2 by the total <br />estimated Maximum Special Taxes for CFD No. 2010 -1 based on the Developed <br />Property Special Taxes which could be levied in the current Fiscal Year on all <br />expected development assuming Buildout of CFD No. 2010 -1, excluding any <br />Assessor's Parcels which have been prepaid. <br />4. Multiply the quotient computed pursuant to paragraph 3 by the Previously Issued <br />Bonds to compute the amount of Previously Issued Bonds to be retired and <br />prepaid (the "Bond Redemption Amount"). <br />5. Multiply the Bond Redemption Amount computed pursuant to paragraph 4 by the <br />applicable redemption premium (e.g., the redemption price - 100 %), if any, on the <br />Previously Issued Bonds to be redeemed (the "Redemption Premium "). <br />6. Compute the current Future Facilities Costs. <br />7. Multiply the quotient computed pursuant to paragraph 3 by the amount <br />determined pursuant to paragraph 6 to compute the amount of Future Facilities <br />Costs to be prepaid (the "Future Facilities Amount'). <br />8. Compute the amount needed to pay interest on the Bond Redemption Amount <br />from the first bond interest and /or principal payment date following the current <br />Fiscal Year until the redemption date for the Previously Issued Bonds specified in <br />the report of the Special Tax Prepayment Amount. <br />#15048 <br />MUFF # 506 <br />