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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 Tax for <br /> the Assessor' s Parcel to be prepaid. For Assessor' s Parcels of Undeveloped Property for <br /> which a building permit has been issued after May 1 of the Fiscal Year preceding the <br /> Fiscal Year for which the Special Taxes are being levied, compute the Maximum Special <br /> Tax for that Assessor's Parcel as though it was already designated as Developed Property, <br /> based upon the building permit 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 Property <br /> Special Taxes which could be levied in the current Fiscal Year on all expected <br /> development assuming Buildout of CFD No. 2010 -1, excluding any Assessor's Parcels <br /> which have been prepaid. <br /> 4. Multiply the quotient computed pursuant to paragraph 3 by the Previously Issued Bonds <br /> to compute the amount of Previously Issued Bonds to be retired and prepaid (the "Bond <br /> 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 determined <br /> pursuant to paragraph 6 to compute the amount of Future Facilities Costs to be prepaid <br /> (the "Future Facilities Amount "). <br /> 8. Compute the amount needed to pay interest on the Bond Redemption Amount from the <br /> first bond interest and/or principal payment date following the current Fiscal Year until <br /> the redemption date for the Previously Issued Bonds specified in the report of the Special <br /> Tax Prepayment Amount. <br /> 9. Determine the Special Tax levied on the Assessor's Parcel in the current Fiscal Year <br /> which has not yet been paid. <br /> 10. Compute the minimum amount the CFD Administrator reasonably expects to derive from <br /> the reinvestment of the Special Tax Prepayment Amount, less any interest earnings <br /> attributed to the Future Facilities Amount, and less any interest earnings attributed to the <br /> Administrative Fees and Expenses (defined below), from the date of prepayment until the <br /> redemption date for the Previously Issued Bonds to be redeemed with the prepayment. <br /> B -17 <br /> 302108_1.doc <br />