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8.B. - Page 52 Table 7 Projected Debt Service Coverage on Bonds Projected Debt Net Maximum Debt Service Service Coverage Bond Year Special Tax�l� on the Bonds on the Bonds 2012-13 $974,533.91 % 2013-14 973,899.79 2014-15 973,252.99 2015-16 972,593.25 2016-17 971,920.32 2017-18 971,233.93 2018-19 970,533.81 2019-20 969,819.68 2020-21 969,091.28 2021-22 968,348.31 2022-23 967,590.48 2023-24 966,817.49 2024-25 966,029.04 2025-26 965,224.82 2026-27 964,404.52 2027-28 963,567.81 2028-29 962,714.37 2029-30 961,843.86 2030-31 960,955.94 2031-32 960,050.26 2032-33 959,126.46 (1) Reflects projected Maximum Possible Annual Special Tax(see"SECURITY FOR THE BONDS—Summary of Rate and Method–Maximum Annual Special Tax Rate°),less the Annual Administrative Expense Deposit for the applicable Bond Year. Sources: Net Maximum Special Tax–Willdan Financial Services;Debt Service and Projected Coverage–the Underwriter. SPECIAL RISK FACTORS The following is a description of certain risk factors affecting the District, the property owners in the District, the Taxable Parcels and the payment of and security for the Bonds. The following discussion of risks is not meant to be a complete list of the risks associated with the purchase of the Bonds and does not necessarily reflect the relative importance of the various risks. Potential investors are advised to consider the following factors along with all other information in this Official Statement in evaluating the investment quality of the Bonds. There can be no assurance that other risk factors will not become material in the future. Concentration of Property Ownership Failure of any significant owner of the Taxable Parcels to pay the annual Special Taxes when due could result in the rapid, total depletion of the Reserve Fund prior to replenishment from the resale of the property upon a foreclosure or otherwise or prior to delinquency redemption after a foreclosure sale, if any. See, however, "SECURITY FOR THE BONDS— County Teeter Plan." In that event, there could be a default in payments of the principal of and interest on the Bonds. The 55 Taxable Parcels in the District are currently owned by only 25 different owners (some of which are related entities), with one owner's 3 Taxable Parcels (Westport Office Park LLC) responsible for 22.31% of the Fiscal Year 2012-2013 Special Tax levy, and another owner's 3 Taxable Parcels (Electronic Arts Inc.) responsible for 17.11% of the Fiscal Year 2012- 2013 Special Tax levy. See "THE DISTRICT—Land Ownership and Current Special Tax Levy." While there is an ability to increase the Special Tax levied on any particular Taxable Parcel up to the maximum Special Tax rate allowed under the Rate and Method (see -30-