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_._ 6.3.A. - Page 11 "�repaid Parcel" means any Parcel that has prepaid in full pursuant to this Rate and Method of Apportionment the Special �'axes #a be levied against such Parcel ir� satisfaction of its pro rata share of Annual Casts. "Rrincipal Prepayment Amounk" means the amount of unpaid outstanding bond principa! and authorized but unissued bond principal allocable to each Taxable Parcel as af the date af such calculatian. "Public Parcel" means any Parcel that is, ar is intended to be, pubficly owned and wi�ich is narmally exempt from ad valarem taxes under Califarnia law, including public streets, schools, schao! district adm�nistrative offices, police and fire facilities, pa�CS, and public drainage ways, righks-of- way, landscaping, greenbelts and open space. "Residential Parcel" means any Parcel zoned for single or multi-family reside�►tial use. "Special Tax" ar "Speciai Taxes" means any #ax levy with respect ta the CFD under the Act or� Taxable Parcels. "Special Tax Repork" means khe report prepared annually pursuant to Section 3 hereof. "Tax Collection ScheduEe" means the document prepared by the City Manager for use by #he Auditor ir� collecting the Special Taxes each Fiscal Year pursuant to Sectio� 6 hereof. "Taxable Classi#ication Dake" means the date on which a Parcel is first classified as a Taxabl� 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, �axable Parcels that are acquired by a �ublic enti�y shall remain subject to the applicable Special Tax pursuant to Section 53317.4 of the Act. Section 2. Basis of Special Tax Ler►y A Special Tax under the Act applicabl� to each Taxable �arcel 5hall be levied and collected according to the tax liability determined by t�e City through the applicatian of the procedures described below. Section 3. Determination and CEassification of Parcels Subject to Special Tax Prior to the first issuance of bonds, and the�eafter prior to July 1 of each Fiscal Year, the City Manager shall cause to �e prepared a Special Tax Report setting forth: 1} the classification as of the Classification Date applicable for such Fiscal Year of each Parcel within khe baundaries af 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 attr�butable to Developed Cammercial Parcels and A-3 2150