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APPENDIX B <br />_ RATE AND METHOD OF APPORTIONMENT FOR DISTRICT NO. 99-1 <br />The defined terms below shall apply wherever such terms are used in this Rate <br />and Method of Apportionment <br />"Act" means the Mello -Roos Community Facilities Act of 1982 (Chapter 2.5, <br />Part 1, Division 2, Title 5 of the California Government Code), as amended from time to <br />time. <br />"Administrative Expenses" means the actual or estimated costs incurred by the <br />City to determine, levy and collect the Special Taxes, including salaries of City <br />employees and the fees of consultants, corporate Bond paying agents, fiscal agents and <br />Bond trustees; the costs of collecting installments of the Special Taxes; preparation and <br />maintenance of required records and reports; preparation of financial audits; and any <br />other costs required to administer the CID. <br />"Annual Costs" means, for each Fiscal Year, the total of 1) an amount sufficient <br />to pay Debt Service in a timely manner, 2) Administrative Expenses, and 3) any <br />amounts needed to replenish Bond reserve funds and to make up for any deficit caused <br />by actual or estimated delinquencies in Special Taxes for the previous or current Fiscal <br />Year. <br />"Annual Tax Revenues" means the amount of Special Taxes collected each Fiscal <br />Year to pay the Annual Costs. <br />"Approved Commercial Parcel" means a Commercial Parcel that has been <br />approved for commercial development by the City pursuant to a vested Development <br />Agreement or a recorded final map approved by the City and is not a Developed <br />Commercial Parcel. <br />"Approved Commercial Square Feet" means the mardmurn amount of <br />commercial square feet that could be constructed on an Approved Commercial Parcel <br />pursuant to a vested Development Agreement or a recorded final map approved by the <br />City. If an Approved Commercial Parcel is subdivided, the City Manager may assign <br />Approved Commercial Square Feet to successor Parcels provided that the total number <br />of Approved Commercial Square Feet on such successor Parcels may not exceed the <br />Approved Commercial Square Feet assigned to the predecessor Parcel. <br />"Auditor" means the Auditor for the County or his or her designee. <br />"CFD" means Redwood Shores Community Facilities District No. 99 -1 (Shores <br />Transportation Improvement Project) of the City of Redwood City. <br />"Classification Date" means each June 1. <br />"City" means the City of Redwood City, California. <br />"City Council" means the elected legislative body of the City. <br />"City Manager" means the city manager of the City. <br />B -1 <br />