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12/03/2012 "Commercial Parcel" means a Parcel which is designated for commercial use pursuant to the land use approved for such Parcel by the Redwood Shores Specific Plan or other land use planning document approved by the City. In the event the City has no official land use designation for a Parcel, the land use code on the secured tax rolls of the County may be used to classify such Parcel. "County" means County of San Mateo, California. "Coverage Factor" means a percentage rate equal to ten (10) percent. "Debt Service" means the total amount of principal and interest due on outstanding Bonds of the CFD that must be collected by the County in any Fiscal Year in order to make timely payments of principal and interest on such outstanding Bonds. "Developed Commercial Parcel" means any Commercial Parcel for which a building permit has been issued by the City. "Developed Commercial Square Feet" means the number of square feet approved for construction as shown on a building permit that has been issued by the City for any Developed Commercial Parcel. "Development Agreement" means a development agreement approved by the City which allows commercial development of one or more Parcels within the boundaries of the CFD. "Fiscal Year" means the period beginning July 1 and ending the following June 30. "Inactive Parcel" means a Parcel which is not classified as a Developed Commercial Parcel, Approved Commercial Parcel, Residential Parcel, or Public Parcel. "Maximum Annual Special Tax Rate" means the maximum amount of Special Taxes per Approved Commercial Square Foot and Developed Commercial Square Foot that may be levied against a Taxable Parcel. "Net Taxable Square Feet" means the total amount of Developed Commercial Square Feet and Approved Commercial Square Feet subject to taxation in any given Fiscal Year. "Parcel" means any Parcel within the boundaries of the CFD 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 each Fiscal Year. "Parcel Classification" means the placement of each Parcel into its respective classification as such parcel exists each Classification Date. "Prepaid. Parcel" means any Parcel that has prepaid in full pursuant to this Rate and Method of Apportionment the Special Taxes to be levied against such Parcel in satisfaction of its pro rata share of Annual Costs. "Principal Prepayment Amount" means the amount of unpaid outstanding Bond principal and authorized but unissued Bond principal allocable to each Taxable Parcel as of the date of such calculation. "Public Parcel" means any Parcel that is, or is intended to be, publicly owned and which is normally exempt from ad valorem taxes under California law, including public B-2 61 RESO. # 15237 MUFF # 505