Notice of Special Lien Tax Community Facilities District No 2022-1

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provided that any property leased by a public agency to a private entity shall be taxed and classified according to its use. "Single Family Residential Property" means all Taxable Property that is Developed Property for which a Building Permit permitting the construction of a residential structure intended for a single Dwelling Unit. "Special Tax(es)" means the special tax or special taxes to be levied in each Fiscal Year on Taxable Property within CFD No. 2022-1 to fund the Special Tax Requirement. "Special Tax Requirement" means that amount required in any Fiscal Year for CFD No. 2022-1 to (1) pay Debt Service on all Outstanding CFD No. 2022-1 Bonds which is due in the Debt Year that commences in such Fiscal Year; (2) pay for Authorized Services; (3) pay Administrative Expenses; (4) provide any amount required to establish or replenish a reserve fund in connection with any CFD No. 2022-1 Bonds; (5) provide any amount required to establish or replenish any operating reserve held by the City for Administrative Expenses; (6) and amounts needed for Pay -As -You -Go Expenditures eligible to be funded by CFD No. 2022- 1 under the Act; (7) provide an amount equal to reasonably anticipated Special Tax delinquencies based on the delinquency rate for Special Taxes levied in the previous Fiscal Year as determined by the CFD Administrator, as limited by the Act, and without duplicating any amounts described in clauses (4) or (5). The amounts referred to in clauses (1) through (7) of the preceding sentence may be reduced in any Fiscal Year (in the City's sole discretion) by (i) interest earnings on or surplus balances in funds and accounts for CFD No. 2022-1 Bonds to the extent that such earnings or balances are available to apply against Debt Service pursuant to the Indenture, (ii) proceeds from the collection of penalties associated with delinquent Special Tax, and (iii) any other revenues available to pay Debt Service on the Outstanding CFD No. 2022-1 Bonds or other indebtedness as determined by the CFD Administrator. "State" means the State of California. "Tax Zone" means the assignment of Taxable Property to a zone as shown on Attachment A within which the Special Tax may be levied pursuant to this Rate and Method of Apportionment. All the Taxable Property within CFD No. 2022-1 at the time of its formation is within Tax Zone A and Tax Zone B. Additional Tax Zones may be created when property is annexed to CFD No. 2022-1, and a separate Maximum Special Tax shall be identified for property within each new Tax Zone at the time of such annexation. The Taxable Property included within a new Tax Zone when such Parcels are annexed to CFD No. 2022-1 shall be identified by Assessor's Parcel number in the annexation documents at the time of annexation. "Tax Zone B Lease Event" means the execution of a lease or written contract related to Taxable Property in Tax Zone B which includes a statement that the property interest may be subject to special taxation pursuant to Section 53340.1 of the Act. "Taxable Property" means all the Assessor's Parcels or Leasehold Interests within the boundaries of CFD No. 2022-1 which are not exempt from the Special Tax pursuant to law or Section E below. For each Fiscal Year for which the Special Tax is levied, the CFD Administrator shall determine the Assessor's Parcels or Leasehold Interests which are subject to the Special Tax pursuant to this Rate and Method of Apportionment of Special Taxes, and such determination shall be conclusive. "Taxable Property Owner Association Property" means all Taxable Property of Property Owner City of San Leandro July 8, 2022 CFD No. 2022-1 (Monarch Bay Shoreline Facilities & Services) Page B-5