Laserfiche WebLink
8.B. - Page 74 <br /> APPENDIX B <br /> RATE AND METHOD <br /> Section 1. Definitions <br /> The defined terms below shall apply wherever such terms are used in this Rate and <br /> Method of Apportionment. <br /> "Act" means the Mello-Roos Community Facilities Act of 1982 (Chapter 2.5, Part 1, <br /> Division 2, Title 5 of the California Government Code), as amended from time to time. <br /> "Administrative Expenses" means the actual or estimated costs incurred by the City to <br /> determine, levy and collect the Special Taxes, including salaries of City employees and the fees <br /> of consultants, corporate Bond paying agents, fiscal agents and Bond trustees; the costs of <br /> collecting installments of the Special Taxes; preparation and maintenance of required records <br /> and reports; preparation of financial audits; and any other costs required to administer the <br /> CFD. <br /> "Annual Costs" means, for each Fiscal Year, the total of 1) an amount sufficient to pay <br /> Debt Service in a timely manner, 2) Administrative Expenses, and 3) any amounts needed to <br /> replenish Bond reserve funds and to make up for any deficit caused by actual or estimated <br /> delinquencies in Special Taxes for the previous or current Fiscal Year. <br /> "Annual Tax Revenues" means the amount of Special Taxes collected each Fiscal Year <br /> to pay the Annual Costs. <br /> "Approved Commercial Parcel" means a Commercial Parcel that has been approved <br /> for commercial development by the City pursuant to a vested Development Agreement or a <br /> recorded final map approved by the City and is not a Developed Commercial Parcel. <br /> "Approved Commercial Square Feet" means the maximum amount of commercial <br /> square feet that could be constructed on an Approved Commercial Parcel pursuant to a <br /> vested Development Agreement or a recorded final map approved by the City. If an Approved <br /> Commercial Parcel is subdivided, the City Manager may assign Approved Commercial Square <br /> Feet to successor Parcels provided that the total number of Approved Commercial Square Feet <br /> on such successor Parcels may not exceed the Approved Commercial Square Feet assigned to <br /> 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 />