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"CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Facilities Special Tax Requirement and the Services Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD No.1" means City of San Leandro Community Facilities District No.1 (Cherry wood). "City" means the City of San Leandro, California. "Consumer Price Index " means the U.S. Department of Labor Bureau of Labor Statistics reported changes in thc Consumer Price Index, without Housing, commencing with the February 2001 report and every year thereafter for the San Francisco /Oakland /San Jose arca. "Council" means the City Council of the City, acting as thc legislative body of CFD No.1. "County" means the County of Alameda. "Developed Property" means, for each Fiscal Year, all Taxable Property, exclusive of Property Owner Association Property, for which a building permit for new construction was issued prior to March 1 of the prior Fiscal Year. "Development Projection" means an annual calculation for CFD No.l of: (i) the number of existing dwelling units of Residential Property by land use category, and (ii) a projection of all future development by land use category, including the acreage, projected number of residential dwelling units, and an absorption schedule for all future development by land • use category within CFD No.l . The Development Projection shall be dated as of March 1 and prepared each Fiscal Year by the Master Developer and submitted to the City prior to April 1 of that year. "Facilities" means public capital improvements within CFD No. 1 as described in the Resolution of Formation. "Facilities Special Tax" means (i) annual special tax to be levied in each Fiscal Year on each Assessor's Parcel of Taxable Property to fund the Facilities Special Tax Requirement pursuant to Section D, and (ii) the portion of the Backup Special Tax that may be required as a result of changes in development that relates to Facilities. "Facilities Special Tax Requirement" means that amount required in any Fiscal Year for CFD No.1 to: (i) pay annual debt service on all Outstanding Bonds (ii) pay periodic costs on the Bonds, including but not limited to, credit enhancement and rebate payments on the Bonds; (iii) pay any amounts required to establish or replenish any reserve funds for all Outstanding Bonds in accordance with the Fiscal Agent Agreement; (iv) and pay directly for acquisition and/or construction of Facilities. City of San Leandro • May 23, 2000 . Community Facilities District No.1 Page 2