R-114-22Calling a Special Election and Submitting to the Qualified Electors of Territory Proposed to be Annexed to the City of Colton Community Facilities District No. 2021-2 (Maintenance Services)

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2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 "Proportionately" means in a manner such that the ratio of the actual Special Tax levy to the Maximum Special Tax is equal for all Assessor's Parcels within each Land Use Class. "Public Property" means any property that is owned by, dedicated or irrevocably dedicated to a city, the federal government, the State of California, the County, or any other public agency (each, a "Public Entity"); provided, however, that any such property is leased by such a Public Entity to a private entity and is thereby subject to taxation pursuant to Section 53340.1 of the Act, such leasehold estate shall be classified and taxed according to the use thereof. "Maintenance Services" means those authorized services that may be funded by CFD 2021-2 pursuant to the Act, as amended including but not limited to graffiti abatement and maintenance, operations, servicing and periodic replacement of park facilities. "Residential Property" means all Assessor's Parcels of Developed Property within CFD 2021-2 for which a Building Permit has been issued for purposes of constructing one or more Residential Unit(s). "Residential Unit" means any residence in which a person or persons may live, which is not considered to be used for non-residential purposes. "Single Family Residential Property" means all Assessor's Parcels of Residential Property not classified as Multi -Family Residential Property. "Special Tax" means the special tax authorized to be levied within CFD 2021-2 pursuant to the Act, to fund the Special Tax Requirement. "Special Tax Requirement" means the amount, as determined by the CFD Administrator, for any Fiscal Year to: (i) pay the costs of providing the Maintenance Services during such Fiscal Year, (ii) pay Administrative Expenses associated with the Special Tax, (iii) establish or replenish any operational reserve fund established for Maintenance Services, (iv) pay incidental expenses related to the Maintenance Services as authorized pursuant to the Act, (v) fund an amount equal to a reasonable estimate of delinquencies expected to occur in the Fiscal Year in which the Special Tax will be levied ("Estimated Special Tax Delinquency Amount") and (vi) fund the shortfall, if any, in the Special Tax revenues collected in the preceding Fiscal Year necessary to fund the Special Tax Requirement for such Fiscal Year where such shortfall resulted from delinquencies in the payment of the Special Tax in such Fiscal Year that exceeded the Estimated Special Tax Delinquency Amount included in the Special Tax Requirement for such Fiscal Year. "Taxable Property" means all Assessor's Parcels that are not exempt from the Special Tax pursuant to the Act or Section F. "Undeveloped Property" means an Assessor's Parcel of Taxable Property which is not classified as Developed Property. B. CLASSIFICATION OF ASSESSOR'S PARCELS Each Fiscal Year, beginning with Fiscal Year 2022-23, using the definitions above, each Assessor's Parcel within CFD 2021-2 shall be classified by the CFD Administrator as Taxable Property or Exempt Property. In addition, each such Fiscal Year, each Assessor's Parcel of Taxable Property shall be further classified by the CFD Administrator as Developed Property or Undeveloped Property. Commencing with Fiscal Year 2022-23 and for each. subsequent Fiscal Year, all Taxable Property shall be assigned a Land Use Type and subject to the levy of the Special Tax pursuant to Section C below. C. SPECIAL TAX RATES RVPUBUVIXMN666167.1 - 8 -