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• • <br /> "Previously Issued Bonds" means, for any Fiscal Year, all Outstanding Bonds that are <br /> outstanding under the Indenture after the first interest and/or principal payment date following <br /> the current Fiscal Year. <br /> 1. Prepayment in Full <br /> The Special Tax Prepayment Amount (defined below) shall be calculated as summarized below <br /> (capitalized terms as defined below): <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: equals Special Tax Prepayment Amount <br /> As of the proposed date of prepayment, the Special Tax Prepayment Amount shall be calculated <br /> 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 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 <br /> Property, based upon the building permit which has already been issued for that <br /> 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 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 /> Community Facilities District No. 2010 -1 February 16, 2011 <br /> City of Redwood City (One Marina) Page 15 <br />