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ATTAC Page 31 <br /> in the Improvement Fund and with the proceeds of any proposed series of Parity Bonds, as <br /> determined by reference to (i) an appraisal performed within 90 days of the date of issuance of <br /> any proposed Parity Bonds by an MAI appraiser selected by the City, which appraisal shall <br /> reflect nationally recognized appraisal standards including, to the extent appropriate, the <br /> Appraisal Standards for Land - Secured Financings provided by the California Debt and <br /> Investment Advisory Commission and which utilizes a methodology of valuation that is <br /> consistent with appraisal originally provided in connection with issuance of the Bonds, or (ii), in <br /> the alternative, the assessed value of all such non-delinquent parcels and improvements <br /> thereon as shown on the then current County real property tax roll available to the Director of <br /> Finance. Neither the City nor any officer thereof shall be liable to the Owners, the Original <br /> Purchaser or any other person or entity in respect of any appraisal provided for purposes of this <br /> definition or by reason of any exercise of discretion made by any Appraiser pursuant to this <br /> definition. <br /> (iii) The City shall obtain a certificate of a Tax Consultant to the effect that (i) <br /> the amount of the maximum Special Taxes that may be levied in each Fiscai Year shall be at <br /> least one hundred ten percent (110%) of the total Annual Debt Service for each such Fiscal <br /> Year on the Bonds and the proposed Parity Bonds plus estimated Administrative Expenses, and <br /> (ii) based upon the Special Taxes that may be levied under the Rate and Method of <br /> Apportionment of the Special Taxes for the District at the time when there is no longer any <br /> Undeveloped Property (as defined in said rate and method of apportionment) in the District, and <br /> taking into account the status of the then and expected Developed Property (as defined in said <br /> rate and method of apportionment) in the District, (a) the estimated maximum Special Taxes <br /> that may then be levied in the District on the then existing and expected Developed Property in <br /> each Fiscal Year are reasonably expected to exceed one hundred ten percent (110%) of the <br /> total Annual Debt Service for each Fiscal Year on the Bonds and the proposed Parity Bonds, <br /> and (b) the aggregate Special Tax Prepayments that could occur after the issuance of the Parity <br /> Bonds is not less than the aggregate Mandatory Redemptions from Prepayments that occur <br /> after the issuance of the Parity Bonds. <br /> -17- <br />