AgdaPkt 2012-01-09 - Laserfiche WebLink

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8.A. - Page 36 replenish bond reserve funds and to make up for any deficit caused by actual or estimated delinquencies in Special Taxes for the previous or current Fiscal Year. "Annual Tax Revenues" means the amount of Special Taxes collected each Fiscal Year to pay the Annual Costs. "Building Parcel" melns, initially, the numbered lots 1 through 10 1nd the lettered lots 1P through 6P and 10P as shown on Exhibit B-1 to the Development Agreement, and subsequently, any parcels into whicll such initial Building Parcels may be subdivided that are assigned Commercial Square Feet or Parking Units pursuant to Section 3 of the R1te and Method. "Classification Date" means for Fiscal Year 2000-01, May 1, 2000, and for each Fiscal Year thereafter, each June 1 of the prior Fiscal Year. "Commercial Square Feet" or "Commercial Square Foot" means the commercial square feet allocated to a Building Parcel pursuant to the schedule set forth in the Rate and Method, as such schedule may be modified by the City Manager pursuant to Section 3 of the R1te and Method. "Common Parcel" means those parcels designated as lettered lots A through I on Exhibit B-1 to the Development Agreement, as they may be modified from time to time, including roads and parcels used to provide open space and recreational uses, along with complementary facilities, including but not limited to parks, playfields, berms, trails and paths. "Debt Service" melns the total amount that must be collected in any Fisc11 Year in order to mal�e timely payments of principal and interest on outstanding bonds of the District. "Development Agreement" means that certain development agreement by and between the City and Pacific Shores Center Limited Partnership dated October 26, 1998 recorded August 6, 1999 as instrument #1999-134701 in the official records of the County, as it may be amended from time to time. "Maximum Annual Special Tax Rate" means the maximum amount of Special Taxes per Commercial Square Foot that may be levied against a Taxable Parcel. For each Taxable Parcel, the Maximum Annual Special Tax Rate is $1.63. "Net Taxable Square Feet" means the total amount of Commercial Square Feet subject to the levy of Special Taxes in any given Fiscal Year. "Parking Unit" means the number of parking spaces lssigned to 1 Building Parcel to serve Commercial Square Feet on a different Building Parcel pursuant to the Development Agreement, or a Final Development Plan when applicable. "Parcel" means any Parcel within the boundlries of the District that is identified by an Assessor's parcel number on the secured tax rolls of the County as of the January 1 lien date (or such other lien date as may be established by the Assessor) of the prior Fiscal Year. "Prepaid Parcel" means any Parcel that has prepaid in full pursuant to the Rate and Method to be levied against such Parcel in satisfaction of its pro rata share of Annual Costs. -12-