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8.A. - Page 40 and Method and Sections 53317.3 and 53317.5 of the Act.�'� Prepaid Parcels, for which the respective owner has prepaid and satisfied the Special Tax, are also exempt from further Special Taxes. See "SPECIAL RISK FACTORS —Exempt Properties." Termination. When all of the District's Administrative Expenses and Debt Service obligations are satisfied and no bonds authorized for issuance by the District remain either unissued or outstanding, the City Council is required to determine that the Specill Tax shall cease to be levied. Notwithstanding the foregoing, in no event shall the Special Tax be levied after the Fiscal Year ending June 30, 2022. County Teeter Plan The County of San Mateo and the other political subdivisions within its boundaries operate under the provisions of Sections 4701 through 4717, inclusive, of the Revenue and Taxation Code of the State of California, commonly referred to as the "Teeter Plan," with respect to property tax collection and disbursement procedures. These sections provide an alternative method of apportioning secured taxes whereby agencies levying taxes through the County roll may receive from the County 100% of their taxes at the time they are levied. The County treasury's cash position (from taxes) is insured by a special tax loss reserve fund accumulated from delinquent penalties. The Board of Supervisors of the County may discontinue the procedures under the Teeter Plan altogether, or with respect to any tax or assessment levying agency in the County, if the rate of secured tax and assessment deliilquency in that agency in any year exceeds 3% of the total of all taxes and assessments levied on the secured rolls for that agency. The Special Taxes have been and are expected to continue to be collected pursuant to the procedures described above. Thus, so long as the County maintains its policy of collecting taxes pursuant to said procedures and the City meets the Teeter Plan requirements, the City will receive 100% of the annual Special Taxes levied without regard to actual collections; however, there is no assurance that the County Board of Supervisors will maintlin its policy of apportioning taxes pursuant to the aforementioned procedures. �'� Section 53317.3 and 53317.5 of the Act read as follows: 53317.3. If pro�erty not otherwise exempt from 1 special t1x levied purs��lnt to [the Act] is 1cq��ued by 1 public entity through a negotiated t�ansaction, or by gift or devise, the special tax shall ... continue to be levied on fl1e property acquired and shall be enforceable against the public entity Ehat acqtured fl1e property. However, even if the resolt�tion of formation that authorized creation of the district did not specify conditions under which the obligation to pay a special tax inay be �repaid and permanently satisfied, the legislative body of the local agency that created the district may specify conditions under which the public agency that acquires the property may prepay and satisfy the obligation to pay the tax. The conditions may be specified only if the local agency that created the district finds and determines that the prepayment arrangement will fully protect the interests of the owners of the district's b onds. 53317.5. If property st�bject to a special tax levied pursuant to this chapter is acquired by a public entity thro��gh emuzent domauz proceedings, the obligation to �ay flze special tax shall be trelted, pursuant to Section 1265.250 of the Code of Civil Proced�ue, as if it were a special annt�al assessnlent. For this p�upose, the present value of the obligation to pay a special tax to pay the principal and interest on any indebtedness inc2ured by the dist�ict prior to the date of apportionment determined ptusuant to Section 5082 of the Revenue and Taxation Code shall be trelted the saine as a fixed lien special assessment. -16-