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12/03/2012 streets, schools, school district administrative offices, police and fire facilities, parks, and public drainage ways, rights-of-way, landscaping, greenbelts and open space. "Residential Parcel" means any Parcel zoned for single or multi -family residential use. "Special Tax" or "Special Taxes" means any tax levy with respect to the CPD under the Act on Taxable Parcels. "Special Tax Report" means the report prepared annually pursuant to Section 3 hereof. "Tax Collection Schedule" means the document prepared by the City Manager for use by the Auditor in collecting the Special Taxes each Fiscal Year pursuant to Section 6 hereof. "Taxable Classification Date" means the date on which a Parcel is first classified as a Taxable Parcel. "Taxable Parcel" means any Developed Commercial Parcel or Approved Commercial Parcel which is not a Prepaid Parcel. "Tax -Exempt Parcel" means any Parcel that is a Public Parcel or Residential Parcel. However, Taxable Parcels that are acquired by a public entity shall remain subject to the applicable Special Tax pursuant to Section 53317.4 of the Act. Section 2. (iasis of Special Tax Levy A Special Tax under the Act applicable to each Taxable Parcel shall be levied and collected according to the tax liability determined by the City through the application of the procedures described below. Section 3. Determination and Classification of Parcels Subject to Special Tax Prior to the first issuance of Bonds, and thereafter prior to July 1 of each Fiscal Year, the City Manager shall cause to be prepared a Special Tax Report setting forth: 1) the classification as of the Classification. Date applicable for such Fiscal Year of each Parcel within the boundaries of the CFD, 2) a projected sources and uses of funds for the CFD in such Fiscal Year showing that projected Annual Tax Revenues are sufficient to pay projected Annual Costs, 3) the total number of Developed Commercial Square Feet attributable to Developed Commercial Parcels and Approved Commercial Square Feet attributable to Approved Commercial Parcels for such Fiscal Year and, in each case, the Maximum Annual Special Tax Rate applicable to such commercial square feet 4) the total number of Developed Commercial Square Feet and Approved Commercial Square Feet allocable to Prepaid Parcels, 5) the net taxable Developed. Commercial Square Feet and Approved Commercial Square Feet allocable to Taxable Parcels for such Fiscal Year, 6) the Special Tax rate necessary to satisfy Annual Costs applicable to such Developed Commercial Square Feet and Approved Commercial Square Feet allocable to each Taxable Parcel for such Fiscal Year, 7) the amount of Special Taxes to be levied on each Taxable Parcel in the next ensuing Fiscal Year, S) the annual Principal Prepayment Amount allocable to each Taxable Parcel, and 9) a Tax Collection Schedule. Parcels shall be classified as of their status applicable in the next Fiscal Year on each Classification Date. The secured property tax roll, land use codes and plot map books maintained by the County Assessor of the County, in combination with official records maintained by the City regarding Development Agreements, recorded final maps, building permits issued, and other changes in parcel development status, will be the basis for B-3 62 RESO. # 15237 MUFF # 505