1987 RES R-154-87 - Laserfiche WebLink

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1 2 31 4 5, 6 7 8I1 9i 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Section 5. Special Taxes. Except where funds are otherwise available, special taxes sufficient to finance the cost of providing the Services within the Community Facilities District and to pay the principal of and interest on the bonds of the Community Facilities District and the annual administra- tive expenses of the City and the Community Facilities District in determining, apportioning, levying and collecting such special taxes and in paying the principal of and interest on such bonds and the costs of registering, exchanging and trans- ferring such bonds, if such bonds are authorized and sold, shall be annually levied within the Community Facilities District. The rates and method of apportionment of said special taxes shall be as set forth in Exhibit "B" attached hereto and by this [reference made a part hereof. The special taxes to be levied within the Community Facilities District may be levied to replenish any reserve fund Ifor the bonds, to pay the annual costs associated with the bonds to be issued to finance the construction and acquisition of the Facilities, including, but not limited to, remarketing, credit enhancement, trustee and other fees, and to pay any "incidental expenses" of the Community Facilities District, as such term is defined in the Act, including those specified in Section 4 hereof. The City Council finds that the methodology for deter- imining and apportioning annual amounts of special taxes, and maximum annual amounts of special taxes set forth in Exhibit "B" hereto are based on the benefit received by the lots and parcels of real property within the Community Facilities District from