Common use of Collection of Special Tax Revenues Clause in Contracts

Collection of Special Tax Revenues. The School District shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June 1 of each year, the Fiscal Agent shall provide the School District and the Treasurer with a notice stating the amounts then on deposit in the Bond Fund, the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar year. The receipt of or failure to receive such notice by the School District or the Treasurer shall in no way affect the obligations of the School District under the following three paragraphs. Upon receipt of such notice, the School District shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and the Rate and Method of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District shall prepare or cause to be prepared such data as may be required to include the levy of the Special Taxes on the next real property tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment as the taxes on property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on the County’s secured tax roll. In the event that the School District determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners within the CFD, and to the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereunder.

Collection of Special Tax Revenues. The School District City shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of each June 1 of each year1, the Fiscal Agent shall provide the School District Treasurer and the Treasurer Finance Director with a notice stating the amounts amount then on deposit in the Bond Fund, Fund and the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar yearFund. The receipt of or failure to receive such notice by the School District or the Treasurer and Finance Director shall in no way affect the obligations of the School District Treasurer or Finance Director under the following three two paragraphs. Upon receipt of such notice, the School District Treasurer shall communicate with the Finance Director to ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District City shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and such that the Rate and Method computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the County Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District City shall prepare or cause to be prepared prepared, and shall transmit to the Finance Director, such data as may be required the County Auditor requires to include the levy of the Special Taxes on the next secured real property tax roll. The City shall fix and levy the amount of Special Taxes within the District required for the payment of principal of and interest on any outstanding Bonds of the District becoming due and payable during the ensuing year, including any necessary replenishment or expenditure of the Reserve Fund for the Bonds and an amount estimated to be sufficient to pay the Administrative Expenses during such year, all in accordance with the rate and method of apportionment of the Special Taxes for the District and the Ordinance. In any event, the Special Taxes so levied shall not exceed the authorized amounts as provided in the proceedings pursuant to the Resolution of Formation. The City covenants to apply the Tax Escalation Factor provided for in the rate and method of apportionment in each Fiscal Year beginning in Fiscal Year 2015-16 and continuing for each Fiscal Year thereafter through Fiscal Year 2043-44. The Special Taxes shall be payable and be collected in the same manner and at the same time and in the same installment as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property. Notwithstanding the County’s secured tax roll. In the event that the School District determines to levy all or a portion of foregoing, the Special Taxes by means of direct billing of may be collected in such other manner as the property owners within the CFD, and to the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes City shall prescribe if necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by debt service on the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereunderBonds.

Collection of Special Tax Revenues. The School District shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June 1 of each year, the Fiscal Agent shall provide the School District and the The Treasurer with a notice stating the amounts then on deposit in the Bond Fund, the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar year. The receipt of or failure to receive such notice by the School District or the Treasurer shall in no way affect the obligations of the School District under the following three paragraphs. Upon receipt of such notice, the School District shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District shall effect the levy of the Special Taxes from time to time during each Fiscal Year on the parcels the District in accordance with the Ordinance and RMA, such that the Rate and Method computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District Treasurer shall prepare or cause to be prepared prepared, and shall transmit to the Auditor, such data as may be required the Auditor requires to include the levy of the Special Taxes on the next real property secured tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment installments as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times time and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property, unless otherwise provided by the County’s secured tax rollDistrict. In the event that the School District Treasurer determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners of the parcels within the CFD, and to the extent permitted by the OrdinanceDistrict, the School District Treasurer shall, not less than forty-five (45) days prior to the first each Interest Payment Date for which the levy is being madeDate, send bills to the owners of such real property owners in located within the CFD District subject to the levy of the Special Taxes for Special Taxes in an aggregate amount necessary to meet the financial obligations of the CFD District due on the next Interest Payment Dates for which the levy is being madeDate, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related such Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District Treasurer shall fix and levy the amount of Special Taxes within the CFD District required (i) for the timely payment of principal of and interest on any outstanding Outstanding Bonds and Additional Bonds of the District becoming due and payablepayable during the ensuing year (taking into consideration anticipated delinquencies), including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient (ii) to pay the Administrative ExpensesExpenses during such year, all in accordance with the RMA and shall take into account any prepayments of Special Taxes theretofore received by the School DistrictOrdinance. The Special Taxes so levied shall not exceed the maximum authorized amounts as provided in the Rate and Method proceedings pursuant to the Resolution of ApportionmentFormation. The Superintendent of the School District Treasurer is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District Treasurer (including a charge for School City or District staff time) in conducting the School District’s its duties hereunder shall be an Administrative Expense hereunder.

Collection of Special Tax Revenues. The School District County shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June 1 of each year, the Fiscal Agent shall provide the School District and the Treasurer Auditor with a notice stating the amounts then on deposit in the Bond Fund, Fund and the Reserve Fund and in any reserve fund established for any Parity BondsFund, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar year. The receipt of or failure to receive such notice by the School District or the Treasurer Auditor shall in no way affect the obligations of the School District Auditor under the following three paragraphs. Upon receipt of such notice, the School District Auditor shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District Auditor shall take into account funds available in the Bond Fund and the Special Tax Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F4.03(G) to the Bond Fund expected to occur on such Interest Payment Date. The School District Auditor shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and the Rate and Method of Apportionment. Specifically, the School District Auditor shall compute the amount of Special Taxes to be so levied each Fiscal Year before the final date on which the Auditor County will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District Auditor shall prepare or cause to be prepared such data as may be required to include the levy of the Special Taxes on the next real property tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment as the taxes on property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on the County’s secured Auditor tax roll. In the event that the School District Auditor determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners within the CFDDistrict, and to the extent permitted by the Ordinance, the School District Auditor shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD District for Special Taxes necessary to meet the financial obligations of the CFD District due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District Auditor shall fix and levy the amount of Special Taxes within the CFD District required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by the School DistrictAuditor. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District Auditor is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District Auditor (including a charge for School District County staff time) in conducting the School DistrictAuditor’s duties hereunder shall be an Administrative Expense hereunder.

Collection of Special Tax Revenues. The School District City shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of each June 1 of each year1, the Fiscal Agent shall provide the School District and the Treasurer Finance Director with a notice stating the amounts amount then on deposit in the Bond Fund, Fund and the reserve accounts of the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar yearFund. The receipt of or failure to receive such notice by the School District or the Treasurer Finance Director shall in no way affect the obligations of the School District Finance Director under the following three two paragraphs. Upon receipt of such notice, the School District Finance Director shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District City shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and such that the Rate and Method computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the County Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District City shall prepare or cause to be prepared prepared, and shall transmit to the Finance Director, such data as may be required the County Auditor requires to include the levy of the Special Taxes on the next secured real property tax roll. The City shall fix and levy the amount of Special Taxes within the District required for the payment of principal of and interest on any outstanding Bonds of the District becoming due and payable during the ensuing Bond Year, including any necessary replenishment or expenditure of amounts in the Reserve Fund and an amount estimated to be sufficient to pay the Administrative Expenses during such year, all in accordance with the Rate and Method and the Ordinance. In any event, the Special Taxes so levied shall not exceed the authorized amounts as provided in the proceedings pursuant to the Resolution of Formation. The Special Taxes shall be payable and be collected in the same manner and at the same time and in the same installment as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property. Notwithstanding the County’s secured tax roll. In the event that the School District determines to levy all or a portion of foregoing, the Special Taxes by means of direct billing of may be collected in such other manner as the property owners within the CFD, and to the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes City shall prescribe if necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by debt service on the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereunderBonds.

Collection of Special Tax Revenues. The School District shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June 1 of each year, the Fiscal Agent shall provide the School District and the The Treasurer with a notice stating the amounts then on deposit in the Bond Fund, the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar year. The receipt of or failure to receive such notice by the School District or the Treasurer shall in no way affect the obligations of the School District under the following three paragraphs. Upon receipt of such notice, the School District shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District shall effect the levy of the Special Taxes from time to time during each Fiscal Year on the parcels within Improvement Area A of the District in accordance with the Ordinance and RMA, such that the Rate and Method computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within Improvement Area A of the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District Treasurer shall prepare or cause to be prepared prepared, and shall transmit to the Auditor, such data as may be required the Auditor requires to include the levy of the Special Taxes on the next real property secured tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment installments as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times time and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property, unless otherwise provided by the County’s secured tax rollDistrict. In the event that the School District Treasurer determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners of the parcels within Improvement Area A of the CFD, and to the extent permitted by the OrdinanceDistrict, the School District Treasurer shall, not less than forty-five (45) days prior to the first each Interest Payment Date for which the levy is being madeDate, send bills to the owners of such real property owners in located within Improvement Area A of the CFD District subject to the levy of the Special Taxes for Special Taxes in an aggregate amount necessary to meet the financial obligations of the CFD District due on the next Interest Payment Dates for which the levy is being madeDate, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related such Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District Treasurer shall fix and levy the amount of Special Taxes within Improvement Area A of the CFD District required (i) for the timely payment of principal of and interest on any outstanding Bonds of the District becoming due and payablepayable during the ensuing year (taking into consideration anticipated delinquencies), including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient (ii) to pay the Administrative ExpensesExpenses during such year, and shall take into account any prepayments of Special Taxes theretofore received by all in accordance with the School DistrictRMA. The Special Taxes so levied shall not exceed the maximum authorized amounts as provided in the Rate and Method proceedings pursuant to the Resolution of ApportionmentFormation. The Superintendent of the School District Treasurer is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District Treasurer (including a charge for School City or District staff time) in conducting the School District’s its duties hereunder shall be an Administrative Expense hereunder.

Collection of Special Tax Revenues. The School Community Facilities District shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June Prior to August 1 of each year, the Fiscal Agent shall provide the School District and the Treasurer with a notice stating the amounts then on deposit in the Bond Fund, the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar year. The receipt of or failure to receive such notice by the School District or the Treasurer shall in no way affect the obligations of the School District under the following three paragraphs. Upon receipt of such notice, the School Community Facilities District shall ascertain from the County of Los Angeles Assessor the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School Community Facilities District shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and by each August 10 that the Rate and Method Bonds are Outstanding, or otherwise such that the computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD Community Facilities District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School Community Facilities District shall prepare or cause to be prepared prepared, and shall transmit to the Auditor, such data as may be required the Auditor requires to include the levy of the Special Taxes on the next real property tax roll. The Community Facilities District shall fix and levy the amount of Special Taxes so levied within the Community Facilities District in accordance with the Rate and Method and, subject to the limitations in the Rate and Method as to the maximum Special Tax that may be levied, in an amount sufficient to yield the amount required for the payment of principal of and interest on any Outstanding Bonds becoming due and payable during the ensuing year, the amount required for any necessary replenishment of the Reserve Fund and the amount estimated to be sufficient to pay the Administrative Expenses during such year, taking into account the balances in the funds and accounts established hereunder. The Special Taxes shall be payable and be collected in the same manner and at the same time and in the same installment as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times time and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on the County’s secured tax roll. In the event that the School District determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners within the CFD, and to the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereunderreal property.

Collection of Special Tax Revenues. The School District County shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of each June 1 of each year1, the Fiscal Agent shall provide the School District and the Treasurer with a notice stating the amounts amount then on deposit in the Bond Fund and the Reserve Fund, and informing the Reserve Fund and in any reserve fund established County that the Special Taxes may need to be levied pursuant to the Ordinance as necessary to provide for any Parity Bonds, and the total amount of the scheduled principal and interest debt service to become due on the Bonds in the next calendar yearyear that commences in the Fiscal Year for which the levy is to be made, and Administrative Expenses and replenishment (if necessary) of the Reserve Fund so that the balance therein equals the Reserve Requirement. The receipt of or failure to receive such notice by the School District or the Treasurer shall in no way affect the obligations of the School District Treasurer under the following three two paragraphs. Upon receipt of such notice, the School District Treasurer shall communicate with the Auditor to ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District Treasurer shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and by each July 15 that the Rate and Method Bonds are outstanding, or otherwise such that the computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District Treasurer shall prepare or cause to be prepared prepared, and shall transmit to the Auditor, such data as may be required the Auditor requires to include the levy of the Special Taxes on the next real property tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment as the taxes on property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on the County’s secured tax roll. In the event that the School District determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners within the CFD, and to the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District Treasurer shall fix and levy the amount of Special Taxes within the CFD District required for the timely payment of principal of and interest on any outstanding Bonds of the District becoming due and payablepayable during the ensuing year, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative ExpensesExpenses (including amounts necessary to discharge any obligation under Section 5.13) during such year, and shall take taking into account any prepayments of the balances in such funds and in the Special Taxes theretofore received by the School DistrictTax Fund. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of ApportionmentApportionment of Special Taxes. The Superintendent of Special Taxes, when levied, shall be payable and be collected in the School District is hereby authorized same manner and at the same time and in the same installments as the general taxes on real property are payable, and have the same priority, become delinquent at the same time and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the ad valorem taxes on real property; provided that, pursuant to employ consultants to assist and in computing accordance with the levy of Ordinance, the Special Taxes hereunder and any reconciliation may be collected by means of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses direct billing of the School District (including a charge for School District staff time) property owners within the District, in conducting which event the School District’s duties hereunder Special Taxes shall be an Administrative Expense hereunderbecome delinquent if not paid when due pursuant to said billing.

Collection of Special Tax Revenues. The School District City shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of each June 1 of each year1, the Fiscal Agent Trustee shall provide the School District and the Treasurer CFD Administrator with a notice stating the amounts amount then on deposit in the Bond Fund and the Reserve Fund, and informing the Reserve Fund and in any reserve fund established City that the Special Taxes may need to be levied pursuant to the Ordinance as necessary to provide for any Parity Bonds, and the total amount of the scheduled principal and interest debt service to become due on the Bonds in the next calendar yearyear that commences in the Fiscal Year for which the levy is to be made, and Administrative Expenses and replenishment (if necessary) of the Reserve Fund so that the balance therein equal the Reserve Requirement. The receipt of or failure to receive such notice by the School District or the Treasurer CFD Administrator shall in no way affect the obligations of the School District CFD Administrator under the following three two paragraphs. Upon receipt of such notice, the School District CFD Administrator shall communicate with the Tax Collector to ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District CFD Administrator shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and by each July 15 that the Rate and Method Bonds are outstanding, or otherwise such that the computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the Auditor Tax Collector will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District CFD Administrator shall prepare or cause to be prepared prepared, and shall transmit to the Tax Collector, such data as may be required the Tax Collector requires to include the levy of the Special Taxes on the next real property tax roll. The CFD Administrator shall fix and levy the amount of Special Taxes within the District required for the payment of principal of and interest on any outstanding Bonds of the District becoming due and payable during the ensuing year, including any necessary replenishment or expenditure of the Reserve Fund for the Bonds and an amount estimated to be sufficient to pay the Administrative Expenses during such year, taking into account the balances in such funds and in the Special Tax Fund. The Special Taxes so levied shall not exceed the authorized amounts as provided in the proceedings pursuant to the Resolution of Formation. The Special Taxes shall be payable and be collected in the same manner and at the same time and in the same installment as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times time and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property; provided that, pursuant to and in accordance with the County’s secured tax roll. In the event that the School District determines to levy all or a portion of Ordinance, the Special Taxes may be collected by means of direct billing of the property owners within the CFDDistrict, and to in which event the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be become delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated pursuant to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereundersaid billing.

Collection of Special Tax Revenues. The School District City shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of each June 1 of each year1, the Fiscal Agent shall provide the School District Treasurer and the Treasurer Finance Director with a notice stating the amounts amount then on deposit in the Bond Fund, Fund and the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar yearFund. The receipt of or failure to receive such notice by the School District or the Treasurer and Finance Director shall in no way affect the obligations of the School District Treasurer or Finance Director under the following three two paragraphs. Upon receipt of such notice, the School District Treasurer and Finance Director shall communicate with each other and/or their designees to ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District City shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and such that the Rate and Method computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the County Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District City shall prepare or cause to be prepared prepared, and shall transmit to the Finance Director, such data as may be required the County Auditor requires to include the levy of the Special Taxes on the next secured real property tax roll. The City shall fix and levy the amount of Special Taxes within the District required for the payment of principal of and interest on any outstanding Bonds of the District becoming due and payable during the ensuing Bond Year, including any necessary replenishment or expenditure of the Reserve Fund for the Bonds and an amount estimated to be sufficient to pay the Administrative Expenses during such year, all in accordance with the rate and method of apportionment of the Special Taxes for the District and the Ordinance. In any event, the Special Taxes so levied shall not exceed the authorized amounts as provided in the proceedings pursuant to the Resolution of Formation. The Special Taxes shall be payable and be collected in the same manner and at the same time and in the same installment as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property. Notwithstanding the County’s secured tax roll. In the event that the School District determines to levy all or a portion of foregoing, the Special Taxes by means of direct billing of may be collected in such other manner as the property owners within the CFD, and to the extent permitted by the Ordinance, the School District shall, not less than forty-five (45) days prior to the first Interest Payment Date for which the levy is being made, send bills to the property owners in the CFD for Special Taxes City shall prescribe if necessary to meet the financial obligations of the CFD due on the Interest Payment Dates for which the levy is being made, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by debt service on the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereunderBonds.

Collection of Special Tax Revenues. The School District shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June 1 of each year, the Fiscal Agent shall provide the School District and the The Treasurer with a notice stating the amounts then on deposit in the Bond Fund, the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar year. The receipt of or failure to receive such notice by the School District or the Treasurer shall in no way affect the obligations of the School District under the following three paragraphs. Upon receipt of such notice, the School District shall ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District shall take into account funds available in the Bond Fund to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District shall effect the levy of the Special Taxes from time to time during each Fiscal Year on the parcels within Improvement Area No. 3 of the District in accordance with the Ordinance and RMA, such that the Rate and Method computation of Apportionment. Specifically, the School District shall compute the amount of Special Taxes to be so levied each Fiscal Year levy is complete before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within Improvement Area No. 3 of the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District Treasurer shall prepare or cause to be prepared prepared, and shall transmit to the Auditor, such data as may be required the Auditor requires to include the levy of the Special Taxes on the next real property secured tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment installments as the general taxes on real property levied on the tax roll are payable, and have the same priority, become delinquent at the same times time and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on real property, unless otherwise provided by the County’s secured tax rollDistrict. In the event that the School District Treasurer determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners of the parcels within Improvement Area No. 3 of the CFD, and to the extent permitted by the OrdinanceDistrict, the School District Treasurer shall, not less than forty-five (45) days prior to the first each Interest Payment Date for which the levy is being madeDate, send bills to the owners of such real property owners in located within Improvement Area No. 3 of the CFD District subject to the levy of the Special Taxes for Special Taxes in an aggregate amount necessary to meet the financial obligations of the CFD District due on the next Interest Payment Dates for which the levy is being madeDate, said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District shall fix and levy the amount of Special Taxes within the CFD required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by the School District. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent of the School District is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District (including a charge for School District staff time) in conducting the School District’s duties hereunder shall be an Administrative Expense hereunder.thirty

Collection of Special Tax Revenues. The School District City shall comply with all requirements of the Act so as to assure the timely collection of Special Tax Revenues, including without limitation, the enforcement of delinquent Special Taxes. On or within five (5) Business Days of June about July 1 of each year, the Fiscal Agent shall provide the School District and the Treasurer Director of Finance with a notice stating the amounts then on deposit in the Bond Fund, the Reserve Fund and in any reserve fund established for any Parity Bonds, and the total amount of the scheduled principal and interest due on the Bonds in the next calendar yearBond Fund. The receipt of or failure to receive such notice by the School District or the Treasurer Director of Finance shall in no way affect the obligations of the School District Director of Finance under the following three paragraphs. Upon receipt Also on or about July 1 of such noticeeach year, the School District Director of Finance shall communicate with the Auditor or other appropriate official of the County to ascertain the relevant parcels on which the Special Taxes are to be levied, taking into account any parcel splits during the preceding and then current year. In computing the amount of Special Taxes to be levied, the School District Director of Finance shall take into account funds available in the Bond Fund and the Special Tax Fund, and any amounts then in the Reserve Fund in excess of the Reserve Requirement, available to make the payment of debt service on the Bonds due on the Interest Payment Dates occurring in the next calendar year, along with any transfers of investment earnings pursuant to Sections 4.03(C) or 4.03(F) to the Bond Fund expected to occur on such Interest Payment Date. The School District Director of Finance shall effect the levy of the Special Taxes from time to time during each Fiscal Year in accordance with the Ordinance and the Rate and Method of Apportionment. Specifically, the School District Director of Finance shall compute the amount of Special Taxes to be so levied each Fiscal Year before the final date on which the Auditor will accept the transmission of the Special Tax amounts for the parcels within the CFD District for inclusion on the next secured or unsecured, as applicable, real property tax roll. Upon the completion of the computation of the amounts of the levy, the School District Director of Finance shall prepare or cause to be prepared prepared, and shall transmit to the Auditor, such data as may be required the Auditor requires to include the levy of the Special Taxes on the next real property tax roll. The Special Taxes so levied shall be payable and be collected in the same manner and at the same time and in the same installment as the ad valorem taxes on property levied on the tax roll are payable, and have the same priority, become delinquent at the same times and in the same proportionate amounts and bear the same proportionate penalties and interest after delinquency as do the general ad valorem taxes levied on the County’s County secured tax roll. In the event that the School District Director of Finance determines to levy all or a portion of the Special Taxes by means of direct billing of the property owners within the CFDDistrict, and to the extent permitted by the Ordinance, the School District Director of Finance shall, not less than forty-five (45) days prior to the first each Interest Payment Date for which the levy is being madeDate, send bills to the property owners in the CFD District for Special Taxes necessary to meet the financial obligations of the CFD District due on the next Interest Payment Dates for which the levy is being made, Date said bills to specify that the amounts so levied shall be due and payable in two equal installments with each installment due not less than thirty (30) days prior to the related such Interest Payment Date and each installment shall be delinquent if not paid when due. In any event, the School District City shall fix and levy the amount of Special Taxes within the CFD District required for the timely payment of principal of and interest on any outstanding Bonds becoming due and payable, including any necessary replenishment or expenditure of the Reserve Fund for the 2014 Bonds and of any reserve fund established for any Parity Bonds and an amount estimated to be sufficient to pay the Administrative Expenses, and shall take into account any prepayments of Special Taxes theretofore received by the School DistrictCity. The Special Taxes so levied shall not exceed the maximum amounts as provided in the Rate and Method of Apportionment. The Superintendent Director of the School District Finance is hereby authorized to employ consultants to assist in computing the levy of the Special Taxes hereunder and any reconciliation of amounts levied to amounts received. The fees and expenses of such consultants and the costs and expenses of the School District Director of Finance (including a charge for School District City staff time) in conducting the School District’s its duties hereunder shall be an Administrative Expense hereunder.