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8.A-44 <br />platform, tools, and Internet- enabled applications, along with related consulting. education and <br />support services, in more than 145 countries around the world. <br />Potent'al Debt Service Coverage fiom Special Taxes <br />Tne table below shows the total Developed Commercial Square Feet for Renabxhlg Taxable <br />Parcels in the District, the Maximum Annual Special Tax Rate, and the total annual taxes that could be <br />levied, based on the Developed Commercial Square Feet of Remaining Taxable Parcels as of June 1, <br />2003, estimated annual debt service on Bonds in the amount of $11,970,000. <br />Table 4 <br />COMMUNNY FACIITPIFS DISTRICT NO. 99-1 <br />Estimated Debt Service Coverage <br />2001 Fsdnaw <br />Maximum Estimated Bonds & 20Pi Annual Debt <br />Property Total Maximum Gross Administration Maxim= Net Bonds Debt service <br />2= saueeFee TaxBAte Revenue fali=1 Revenues Service (2) Someran(3) <br />Developed (1) 4,339,611 0.732 1 ,445,1$4 aim 841,790 892.536 1.10 <br />Total 4.339,611 1,006.790 25,000 961,790 692,536 <br />(1) All properties subject to the lien of special taxes are developed. <br />(2) Band on the amount of Bonds estimated as necessary to complete Phase 1 and Phm 2 of the Project. <br />(3) Net Revenues divided by debt service on Bonds. The District has covenanted in the Fiscal Agent Agreement to provide debt <br />service coverage of not lees then 1.1 times. <br />Source: Comity Assessor's Oilos. Oryal Redwood C1tyBu1k1hW Department WBBem EuphtatMLakipalEhance , Inc <br />Delinquencies <br />No parcels in the District are delinquent in the payment of secured taxes as of the date of this <br />Official Statement. <br />Although the County bills for special taxes along with general taxes and will not accept a <br />partial payment of taxes, there is no assurance that property owners will pay future special taxes <br />regardless of the historical record of the payment of general taxes. See "BONDOWNER'S RISKS - <br />Levy and Collection of Special Tax" herein. <br />Direct and Overlapping G . - ".:,1 Obltgations <br />Overlapping local agencies provide public services within the District, and such agencies have <br />issued general obligation Bonds and other types of indebtedness. Direct and overlapping governmental <br />obligations as of June 30, 2003 are shown in the following table. This table does not include the Oracle <br />Parcels. The assessed valuation figure shown below includes land, improvements and personal <br />assessed valuation. <br />-27- <br />