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the sale of a first bond issue that causes the Acreage of Public Property and /or Property Owner <br /> Association Property to exceed such 23.6 Acreage limit shall not be exempt from the Special <br /> Tax and shall instead require a prepayment of the Special Tax pursuant to Section J.3 herein, <br /> unless the CFD Administrator determines that such transfer will not reduce the amount of <br /> Special Taxes that may be levied on Taxable Property within CFD No. 2010 -1 in all Fiscal Years <br /> to below the sum of (i) 1.10 times the debt service necessary to support the remaining <br /> Outstanding Bonds, and (ii) the Administrative Expenses as defined in this Section A. The <br /> prepayment of the Special Tax for Assessor's Parcels, or portion thereof, requiring such <br /> prepayment shall occur prior to the transfer of the Assessor's Parcel to a public agency or <br /> property owner association. Should the excess Public Property and /or Property Owner <br /> Association Property be transferred without such Special Tax being prepaid, a One Time <br /> Special Tax equivalent to the appropriate Prepayment Amount as calculated under Section J.3 <br /> herein shall be imposed on the public agency or property owner association that now owns the <br /> Assessor's Parcel, to be paid within 30 days of receipt of a demand letter from the CFD <br /> Administrator for payment. <br /> G. RELEASE OF PROPERTY <br /> Upon recordation of a map which creates separate legal lots for such property, all property within <br /> the Future Excluded Area shall be removed from the boundaries of CFD No. 2010 -1 and the City <br /> shall cause (i) an amended boundary map to be recorded in compliance with the Act to indicate <br /> that such property is not in CFD No. 2010 -1, and (ii) a suitable notice to be recorded in <br /> compliance with the Act to indicate the release of the Special Tax lien on such property. <br /> p p <br /> H. APPEALS AND INTERPRETATIONS <br /> Any landowner or resident who feels that the amount of the Special Tax levied on his Assessor's <br /> Parcel is in error may submit a written appeal to the CFD Administrator. The CFD <br /> Administrator shall review the appeal and if the CFD Administrator concurs, the amount of the <br /> Special Tax levied shall be appropriately modified through an adjustment to the Special Tax levy <br /> in the following Fiscal Year. No refunds shall be given. The CFD Administrator may interpret <br /> this First Amended Rate and Method of Apportionment for purposes of clarifying any ambiguity <br /> and make determinations relative to the annual administration of the Special Tax and any <br /> landowner or resident appeals. <br /> I. MANNER OF COLLECTION <br /> The Special Tax will be collected in the same manner and at the same time as ordinary ad <br /> valorem property taxes; provided, however, that CFD No. 2010 -1 may directly bill the Special <br /> Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet <br /> its financial obligations, and may covenant to foreclose and may actually foreclose on delinquent <br /> Assessor's Parcels as permitted by the Act. <br /> J. PREPAYMENT OF SPECIAL TAX <br /> Under this First Amended Rate and Method of Apportionment, an Assessor's Parcel within CFD <br /> No. 2010 -1 is permitted to prepay the Special Tax. The obligation of the Assessor's Parcel to <br /> pay the Special Tax may be fully or partially prepaid and permanently satisfied as described <br /> Community Facilities District No. 2010 -1 February 16, 2011 <br /> City of Redwood City (One Marina) Page 13 <br />