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1. Recitals Correct. The foregoing recitals are true and correct. <br /> 2. No Majority Protest. The proposed special tax to be Levied within the CFD has <br /> not been precluded by majority protest pursuant to section 53324 of the Act. <br /> 3. Prior Proceedings Valid. All prior proceedings taken by this City Council in <br /> connection with the establishment of the CFD and the levy of the special tax have been duly <br /> considered and are hereby found and determined to be valid and in conformity with the Act. <br /> 4. Name of CFD. The community facilities district designated "Community <br /> Facilities District No. 1 (Cherrywood)" of the City is hereby established pursuant to the Act. <br /> 5. Boundaries of CFD. The boundaries of the CFD, remain as set forth in the map <br /> of the CFD heretofore recorded in the Alameda County Recorder's Office on June 13, 2000 in <br /> Book 14 at Page 55 of Maps of Assessment and Community Facilities Districts. <br /> 6. Description of Facilities and Services. The type of public facilities and services <br /> proposed to be financed by the CFD and pursuant to the Act shall consist of those items listed <br /> as facilities and as services in Exhibit A hereto and by this reference incorporated herein (the <br /> "Facilities" and the "Services "). <br /> • 7. Special Tax. <br /> a. Except to the extent that funds are otherwise available to the CFD to pay <br /> for the Facilities and Services and /or the principal and interest as it becomes due on <br /> bonds of the CFD issued to finance the Facilities, a special tax (the "Special Tax ") <br /> sufficient to pay the costs thereof, secured by the recordation of a continuing lien against <br /> all non - exempt real property in the CFD, is intended to be levied annually within the <br /> CFD, and collected in the same manner as ordinary ad valorem property taxes or in.such <br /> other manner as may be prescribed by this Council. <br /> b. The proposed rate and method of apportionment of the Special .Tax <br /> among the parcels of real property within the CFD, in sufficient detail to allow each <br /> landowner within the proposed CFD to estimate the maximum amount such owner will <br /> have to pay, are shown in Exhibit B attached hereto and by this reference incorporated <br /> herein. <br /> c. In the case of any Special Tax to pay for the Facilities and to be levied <br /> against any parcel used for private residential purposes: (i) the maximum special tax <br /> shall be specified as a dollar amount which shall be calculated and thereby established <br /> not later than the date on which the parcel is first subject to the tax because of its use <br /> for private residential purposes and which amount shall not be increased over time over <br /> two percent per year; (ii) the tax year after which no further Special Tax subject to this <br /> sentence shall be levied or collected shall be as set forth in Exhibit B hereto; and (iii) <br /> under no circumstances will the Special Tax levied against any parcel subject to this <br /> sentence be increased as a consequence of delinquency or default by the owner of any <br /> other parcel within the CFD by more than ten percent. For the purposes hereof, a parcel <br /> is used for "private residential purposes" not later than the date on which an occupancy <br /> permit for private residential use is issued. <br /> S. Increased Demands. It is hereby found and determined that the Facilities and <br /> Services are necessary to meet increased demands placed upon local agencies as the result of <br /> development occurring in the CFD. <br /> • <br /> 2 <br />