Reso 2000-084 - Laserfiche WebLink

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s 9. Add the amounts computed pursuant to paragraphs 5 and 7 and subtract the amount computed pursuant to paragraph 8 (the "Defeasance Amount "). 10. Verify the Administrative Expenses of CFD No.1, including the costs of computation of the prepayment, the costs to invest the prepayment proceeds, the costs of redeeming Bonds, and the costs of recording any notices to evidence the prepayment and the redemption (the "Administrative Fees and Expenses "). 11. The reserve fund credit (the "Reserve Fund Credit ") shall equal the lesser of: (a) the expected reduction in the Reserve Requirement (as defined in the Fiscal Agent Agreement), if any, associated with the redemption of Outstanding Bonds as a result of the prepayment, or (b) the amount derived by subtracting the new Reserve Requirement (as defined in the Fiscal Agent Agreement) in effect after the redemption of Outstanding Bonds as a result of the prepayment from the balance in the reserve fund on the prepayment date, but in no event shall such amount be Tess than zero. 12. The Prepayment Amount_is equal to the suns of the amounts computed pursuant to paragraphs 3, 4, 9, and 10, less the amounts computed pursuant to paragraph 11 (the "Prepayment Amount "). 13. From the Prepayment Amount, the amounts computed pursuant to paragraphs 3, 4, 9, andl 1, shall be deposited into the appropriate fund as established under the Fiscal Agent Agreement and be used to retire Outstanding Bonds or make debt service payments. The amount computed pursuant to paragraph 10 shall be retained by the City. The Prepayment Amount may be sufficient to redeem other than a 55,000 increment of Bonds. In such cases, the increment above 55,000 or integral multiple thereof will be retained in the appropriate fund established under the Fiscal Agent Agreement to be used for the purposes thereof. As a result of the payment of the current Fiscal Year's Special Tax levy as detemrined under paragraph 7 above, the CFD Administrator shall remove the current Fiscal Year's Special Tax levy for such Assessor's Parcel from the County tax rolls. Notwithstanding the foregoing, no Special Tax prepayment shall be allowed unless the amount of Maximum Annual Special Taxes that may be levied on Taxable Property within CFD No.1 both prior to and after the proposed prepayment is at least 1.1 times the maximum annual debt service on all Outstanding Bonds. J. TERM OF MAXIMUM ANNUAL SPECIAL TAX FOR FACILITIES The Maximum Annual Special Tax for Facilities shall be levied commencing in Fiscal Year 2000 -2001 to the extent necessary to fully satisfy the Facilities Special Tax Requirement for a period necessary to retire the bond indebtedness. City of San Leandro May 23. 2000 Community Facilities District No. l Page 1 l