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1 <br /> which, as of the May 1 preceding the Fiscal Year for which the Special Tax is being levied, has <br /> been conveyed, irrevocably dedicated, or irrevocably offered to a property owner's association, <br /> including any master or sub - association, provided such conveyance, dedication, or offer is <br /> submitted to the CFD Administrator by May 1 preceding the Fiscal Year for which the Special <br /> Tax is being levied. <br /> "Proportionately" means, for Developed Property, that the ratio of the actual Special Tax levy <br /> to the Maximum Special Tax is equal for all Assessor's Parcels of Developed Property. For <br /> Undeveloped Property, "Proportionately" means that the ratio of the actual Special Tax levy per <br /> acre to the Maximum Special Tax per acre for such property is equal for all Assessor's Parcels of <br /> Undeveloped Property. <br /> "Public Property" means, for each Fiscal Year, any property within the boundaries of CFD No. <br /> 2010 -1 that is (i) owned by, irrevocably offered or dedicated to the federal government, the State, <br /> the County, the City, or any local government or other public agency, provided that any property <br /> leased by a public agency to a private entity and subject to taxation under Section 53340.1 of the <br /> Act shall be taxed and classified according to its use; or (ii) encumbered by a public utility <br /> easement making impractical its use for any purpose other than that set forth in the easement. <br /> "First Amended Rate and Method of Apportionment" means this First Amended Rate and <br /> Method of Apportionment for CFD No. 2010 -1. <br /> "Residential Floor Area" means all of the square footage of living area within the perimeter of <br /> a residential structure, not including any carport, walkway, garage, overhang, patio, enclosed <br /> patio, or similar area. The determination of Residential Floor Area for an Assessor's Parcel shall <br /> be made by reference to the building permit(s) issued for such Assessor's Parcel and/or to the <br /> appropriate records kept by the Building Inspection Division, or other applicable City <br /> department, as reasonably determined by the CFD Administrator. Such determination shall be <br /> final following the issuance of a Certificate of Occupancy for the residential dwelling unit. <br /> "Residential Property" means all Assessor's Parcels of Developed Property for which a <br /> building permit permitting the construction thereon of one or more residential dwelling units has <br /> been issued by the City. <br /> "Special Tax" means the special tax to be levied in each Fiscal Year on each Assessor's Parcel <br /> of Taxable Property within CFD No. 2010 -1 to fund the Special Tax Requirement. <br /> "Special Tax Requirement" means that amount required in any Fiscal Year for CFD No. 2010- <br /> 1 to: (i) pay debt service on all Outstanding Bonds due in the calendar year commencing in such <br /> Fiscal Year; (ii) pay periodic costs on the CFD No. 2010 -1 Bonds, including but not limited to, <br /> credit enhancement and rebate payments on the CFD No. 2010 -1 Bonds due in the calendar year <br /> commencing in such Fiscal Year; (iii) pay Administrative Expenses; (iv) pay any amounts <br /> required to establish or replenish any reserve funds for all Outstanding Bonds; (v) pay directly <br /> for acquisition or construction of Authorized Facilities to the extent that the inclusion of such <br /> amount does not increase the Special Tax levy on Undeveloped Property; (vi) pay for reasonably <br /> anticipated Special Tax delinquencies based on the delinquency rate for the Special Tax levy in <br /> the previous Fiscal Year; less (vii) a credit for funds available to reduce the annual Special Tax, <br /> as determined by the CFD Administrator pursuant to the Indenture. <br /> Community Facilities District No. 2010 -1 February 16, 2011 <br /> City of Redwood City (One Marina) Page 5 <br />