REPORT OF SPECIAL TAX LEVY FOR THE CITY OF LAKE ELSINORE CITY OF LAKE ELSINORE CFD 98-1 (Summerhill Public Improvements) Fiscal Year 2004-05 Submitted to: City of Lake Elsinore Riverside County, California Submitted by: December 2004
CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 98-1 (Summerhill Public Improvements) TABLE OF CONTENTS Introduction... 1 I. Facilities Financed by the District... 1 II. Rate and Method of Apportionment of the Special Tax... 1 III. Special Tax Levy... 2 IV. Special Tax Roll... 4 APPENDIX Exhibit A Exhibit B Exhibit C Exhibit D Boundary Map Amended and Restated Rate and Method of Apportionment of Special Taxes Debt Service Schedule Special Tax Roll
City of Lake Elsinore December 2004 Community Facilities District No. 98-1 Page 1 INTRODUCTION The City Council of the City of Lake Elsinore established Community Facilities District No. 98-1 (Summerhill Public Improvements) for the purpose of constructing and acquiring certain public improvements needed to meet increased demand upon the City of Lake Elsinore as a result of development within the boundaries of Community Facilities District No. 98-1. A map showing the boundaries of CFD No. 98-1 is included in the Appendix of this report as Exhibit A. In compliance with the proceedings governing the formation of CFD No. 98-1, the special tax has been levied on each assessable parcel within the District according to the provisions of the Amended and Restated Rate and Method of Apportionment of Special Taxes as shown in the Appendix of this report in Exhibit B. The special tax has been levied on all of the property within CFD No. 98-1, except those exempted by law or the express provisions set forth in the Amended and Restated Rate and Method of Apportionment for the District. Bonds for this district were refunded in 2002. At the direction of the bond council, 40 s were removed from CFD No. 98-1 during the refunding process. I. FACILITIES FINANCED BY THE DISTRICT The public facilities financed by CFD No. 98-1 are described in detail in the Community Facilities District Report (CFD Report) for CFD No. 98-1 and include grading, street improvements, domestic water, sanitary sewer and parks and recreation facilities. Grading includes the grading for the public streets, public access roads and public utilities within and for the District. The street improvements consist of the curbs, gutters, sidewalks, paving, street lights, storm drain and utilities in the public streets within and in the vicinity of the District. The domestic water system consists of a reservoir, pumping station, distribution mains and appurtenances in the public streets and public easements within and in the vicinity of the District. The sanitary sewer system consists of the gravity sewers, manholes and appurtenances in the public streets and public utility easements within and in the vicinity of the District. The parks and recreation facilities within and for the District consist of the grading, landscaping, irrigation, walkways, apparatus, facilities and appurtenances in Lot A and Lot C of Tract 20704 and Lot A of Tract 20705. II. RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX The Rate and Method of Apportionment of the Special Tax for CFD No. 98-1 establishes specific categories for the apportionment of Special Taxes which are collected annually, in the same manner and at the same time as ordinary ad valorem property taxes. On or about July 1, each parcel of land within the District was categorized either as Category I, Category II or Category III. The parcels subject to levy were determined based upon the records of the County Assessor as of the previous March 1, and the Tax Category for each parcel was determined based upon the status of the parcel as of the previous May 1. The parcel classifications for Fiscal Year 2004-05 are summarized in Table 1 below. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc
City of Lake Elsinore December 2004 Community Facilities District No. 98-1 Page 2 TABLE 1 PARCEL DISTRIBUTION BY CATEGORY Total s Total s Percent Change Special Tax Classification FY 2003-04 FY 2004-05 FY 2003-04 Category III 402 422 5.0% Category II 20 0-100.0% Category I 4 0-100.0% Exempt Property 60 73 21.7% Total 486 495 1.9% III. SPECIAL TAX LEVY FOR FISCAL YEAR 2004-05 The annual special taxes for Fiscal Year 2004-05 have been levied as provided in the Rate and Method of Apportionment for each Special Tax Category described below: Category III - Developed Property Category III includes all parcels and dwelling units within CFD No. 98-1 for which building permits have been issued. The maximum special tax for Category III and the special tax levy for parcels classified as Category III for Fiscal Year 2004-05 are shown in Table 2. TABLE 2 SPECIAL TAX LEVY - CATEGORY III (Developed Property) Annual Special Tax Per Square Foot Shown on Building Permit Maximum Actual Total Tract Tract Number 20704 Rate per Sq. Foot $0.79 Rate per Sq. Foot $0.79 Square Footage 411,257 Funds Generated $325,959.88 20705 $0.79 $0.79 646,121 $512,111.15 1,057,378 $838,071.03 Annual Special Tax Per on s with Building Permits Maximum Actual Tract Number 20704 Rate per $663.94 Rate per $663.66 Number of s 189 Funds Generated $125,431.79 20705 $663.94 $663.66 233 $154,632.84 422 $280,064.63 CATEGORY III SPECIAL TAX $1,118,135.66 q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc
City of Lake Elsinore December 2004 Community Facilities District No. 98-1 Page 3 Category II - Approved Undeveloped Property Category II includes any parcel within CFD No. 98-1 for which a final tract map has been recorded. The FY 2004-05 maximum special tax for Category II is shown in Table 3. There were no Category II parcels in FY 2004-05. TABLE 3 SPECIAL TAX LEVY - CATEGORY II (Approved Undeveloped Property) Maximum Tract Special Tax Number Rate per 20704 $3,203.68 20705 $3,257.67 The maximum special tax rates for parcels in Category II have increased by 2% over the maximum special tax rates for Fiscal Year 2003-04. Category I - Raw Undeveloped Property Category I includes all Taxable Property in CFD No. 98-1 not subject to a special tax under Category II or Category III. The maximum special tax rates for Category I for Fiscal Year 2004-05 are shown in Table 4. Per the Special Tax Settlement and Development Agreement between Community Facilities District No. 98-1, Assessment District No. 90-1A, the City of Lake Elsinore, the Lake Elsinore Public Financing Authority and Abbacy Holding Corporation, no further special taxes shall be levied by the District on commercial property (lots 238 and 239). TABLE 4 SPECIAL TAX LEVY - CATEGORY I (Raw Undeveloped Property) Maximum Tract Special Tax Number Rate per Acre 20705 $26,392.20 q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc
City of Lake Elsinore December 2004 Community Facilities District No. 98-1 Page 4 A statement showing the Sources and Obligations of special tax funds for CFD No. 98-1 for Fiscal Year 2004-05 is presented in Table 5. The Special Tax Requirement for Fiscal Year 2004-05 was determined as specified in the adopted Rate and Method of Apportionment of the Special Tax. The debt service requirements for Fiscal Year 2004-05 have been taken from the Debt Service Schedule for the District which is included in the Appendix of this report as Exhibit C. TABLE 5 SOURCES AND OBLIGATIONS FISCAL YEAR FISCAL YEAR 2003-04 2004-05 SOURCES Amount Amount Annual Special Tax Roll Category V $976,096.30 $1,118,135.66 Category III $47,112.80 $0.00 Category I $0.00 $0.00 SUBTOTAL $1,023,209.10 $1,118,135.66 Rounding of Uneven Assessments $0.00 $0.00 TOTAL SPECIAL TAXES FROM ALL SOURCES $1,023,209.10 $1,118,135.66 OBLIGATIONS Bond Debt Service $1,102,137.50 $1,102,137.50 Allocation for Delinquencies, Administration and Incidentals $42,000.00 $16,000.00 SUBTOTAL $1,144,137.50 $1,118,137.50 Special Taxes not levied, Lots 238 & 239 ($120,925.82) $0.00 Surplus to District ($2.58) ($1.84) TOTAL OBLIGATIONS FOR SPECIAL TAXES $1,023,209.10 $1,118,135.66 IV. SPECIAL TAX ROLL The Special Tax Roll lists the special tax levy on each parcel within the boundaries of CFD No. 98-1 for Fiscal Year 2004-05. A copy of the Special Tax Roll is included in the Appendix of this report as Exhibit D. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc
EXHIBIT A Boundary Map
EXHIBIT B Rate and Method of Apportionment of the Special Tax
EXHIBIT B CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 98-1 (SUMMERHILL PUBLIC IMPROVEMENTS) RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX A special tax shall be levied on each of land within the City of Lake Elsinore Community Facilities District No. 98-1 (Summerhill Public Improvements) (the "District"), and collected according to the special tax liability determined by the Responsible Party of the City of Lake Elsinore (the "City") through the application of the following procedures. All of the property within the District, unless otherwise exempted by law or the express provisions of the rate and method of apportionment expressed below, shall be taxed to the extent and in the manner provided below. It is intended that all special taxes applicable to s within Category I, Category II or Category III be collected in the same manner and at the same time as ordinary ad valorem property taxes, and that special taxes so levied will be subject to the same penalties and procedures, sale and lien priority in case of delinquency as is provided for ad valorem taxes, subject to any covenant of the City with respect thereto in any Fiscal Agent Agreement for any bonds of the City for the District. CATEGORY I: CATEGORIES OF SPECIAL TAX Category I includes all Taxable Property in the District not subject to a special tax under Category II or Category III. The Category I special tax will be levied annually. Lot number 238 of Tract 20705 and lot number 239 of Tract 20705 will not be subject to special tax if developed for other than residential use. The maximum special tax that may be levied on s within Category I during the Fiscal Year ending June 30, 1998 is $22,976 per acre (said amount to be levied pro rata for any portion of an acre) of a. Said maximum special tax shall increase each Fiscal Year thereafter by 2%, compounded annually, decreased by the amount of special tax levied for such Fiscal Year on each or Dwelling Unit in Community Facilities District No. 91-2. CATEGORY II: Any for which a final map has been recorded will be classified in Category II until such time as a building permit has been issued. The maximum special tax applicable to s in Category II is shown below for the Fiscal Year ending June 30, 1998. The maximum special tax rate for the s classified in Category II shall increase each Fiscal Year thereafter by 2%, rounded up to the nearest dollar, compounded annually, decreased by the amount of special tax levied for such Fiscal Year on each or Dwelling Unit in Community Facilities District No. 91-2. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc B-1
If the boundaries of a tract shown in any final map are not the same as the expected boundaries shown for such tract on the map attached hereto, the maximum special tax applicable to s in such tract will be the highest maximum special tax applicable to any one of its component prior tracts based on the attached map and as shown in the table below. CATEGORY II Maximum Tract No. Special Tax 20704 $2,789 20705 $2,836 (Except Lot No. 238 and Lot No. 239) CATEGORY III: Category III includes all s or Dwelling Units for which a building permit has been issued. The maximum special tax for s and Dwelling Units described in Category III for the Fiscal Year ending June 30, 1998 is the total of $578.00 per or Dwelling Unit plus $0.69 per Square Foot for each Square Foot shown on the building permit, decreased by the amount of special tax levied for such Fiscal Year on each or Dwelling Unit in Community Facilities District No. 91-2. Each Fiscal Year thereafter, the per or Dwelling Unit and the per Square Foot rate listed above will increase by 2%, rounded up to the nearest dollar, compounded annually. A or Dwelling Unit will be subject to the Category III special tax for not more than 40 years. ANNUAL TAX CATEGORIES ASSIGNMENT TO CATEGORIES; LEVY On or about July 1 of each year, but in any event in sufficient time to include the levy of the special taxes on the County's secured tax roll, the Responsible Party shall determine, for each of land or Dwelling Unit within the District, whether such or Dwelling Unit is described by Category I, Category II or Category III. The s and Dwelling Units subject to levy shall be determined based upon the records of the Riverside County Assessor as of the March 1 preceding such July 1, and the Tax Category shall be determined based upon the status of the or Dwelling Unit as of the May 1 preceding such July 1. The Responsible Party shall then determine the estimated aggregate Tax Liability for the Fiscal Year commencing such July 1, and the amount of annual special taxes to be levied on each and Dwelling Unit in the District during such Fiscal Year. The annual special taxes shall be determined for each or Dwelling Unit in the District as follows: 1. Levy on each or Dwelling Unit described in Category III an amount equal to 94% of the Category III maximum special tax. 2. If the aggregate amount to be levied based on 1 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax for each and Dwelling Unit described in Category III proportionately, so that the aggregate special tax levy for such Fiscal Year for all s and Dwelling Units within the District is equal to the aggregate Tax Liability for such Fiscal Year. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc B-2
3. If the aggregate amount to be levied based on 1 above is less than the aggregate Tax Liability for such Fiscal Year, levy on each and Dwelling Unit described in Category III as provided in 1 above, and levy on each described in Category II an amount equal to 75% of the Category II maximum special tax. 4. If the aggregate amount to be levied based upon 3 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each described in Category II proportionately, until the aggregate special tax levy for such Fiscal Year for all s within the District is equal to the aggregate Tax Liability for such Fiscal Year. 5. If the aggregate amount to be levied based upon 3 above is less than the aggregate Tax Liability for such Fiscal Year, levy as described in 3 above, and levy on each described in Category I an amount equal to 50% of the Category I maximum special tax. 6. If the aggregate amount to be levied based upon 5 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each described in Category I proportionately, until the aggregate special tax levy for such Fiscal Year for all s within the District is equal to the aggregate Tax Liability for such Fiscal Year. 7. If the aggregate amount to be levied based upon 5 above is less than the aggregate Tax Liability for such Fiscal Year, levy on each and Dwelling Unit described in Category III an amount equal to 100% of the Category III maximum special tax, levy on each described in Category II an amount equal to 75% of the Category II maximum special tax, and levy on each described in Category I an amount equal to 50% of the Category I maximum special tax. 8. If the aggregate amount to be levied based upon 7 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each and Dwelling Unit described in Category III proportionately, until the aggregate special tax liability for such Fiscal Year for all s and Dwelling Units within the District is equal to the aggregate Tax Liability for such Fiscal Year. 9. If the aggregate amount to be levied based upon 7 above is less than the aggregate Tax Liability for such Fiscal Year, levy on each and Dwelling Unit described in Category III or described in Category II an amount equal to 100% of the Category III or Category II, respectively, maximum special tax, and levy on each described in Category I an amount equal to 50% of the Category I maximum special tax. 10. If the aggregate amount to be levied based upon 9 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each described in Category II proportionately, until the aggregate special tax liability for such Fiscal Year for all parcels within the District is equal to the aggregate Tax Liability for such Fiscal Year. 11. If the aggregate amount to be levied based upon 9 above is less than the aggregate Tax Liability for such Fiscal Year, levy on each described in Category I, II or III or Dwelling Unit described in Category III an amount equal to the maximum special tax described in Category I, II or III, respectively. 12. If the aggregate amount to be levied based upon 11 above is greater than the aggregate Tax Liability for such Fiscal Year, reduce the special tax levy for each described in Category I proportionately, until the aggregate special tax liability for such Fiscal Year for all s within the District is equal to the aggregate Tax Liability for such Fiscal Year. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc B-3
PREPAYMENTS Prepayments may be made only for property subject to tax under Category III. Any property owner in the District that desires to prepay the annual special taxes on a particular or Dwelling Unit, shall notify the Responsible Party in writing of such intention and the estimated amount of prepayment no more than sixty (60) days and no less than forty-five (45) days prior to date of such prepayment, which date (the Prepayment Date) shall be a date which is sixty (60) days prior to an interest payment date for the Bonds. The entire annual special taxes for any or Dwelling Unit in the District may be prepaid on a Prepayment Date as follows: (a) The or Dwelling Unit with respect to which prepayment is to be made must not be delinquent in any payment of special taxes previously levied within the District. Prepayment shall not relieve any property owner from paying those special taxes which have already become due and payable, and a Notice of Cessation of Special Tax Lien shall not be recorded against any or Dwelling Unit pursuant to California Government Code Section 53344, until all special taxes with respect to that or Dwelling Unit have been paid. (b) The aggregate maximum annual special taxes for the or Dwelling Unit with respect to which prepayment is to be made, as of the Prepayment Date, shall be calculated based upon the maximum annual special taxes described by Category III that could be levied on that or Dwelling Unit in all future years. (c) The net present value of the future annual special taxes calculated above will be determined based on an interest rate of eight percent (8%), which may be decreased or increased by the Responsible Party to reflect the net interest costs on the Bonds. (d) Any applicable prepayment premium on the Bonds shall be applied to the aggregate amount determined under (c) above. (e) The amount to be prepaid for any or Dwelling Unit of property shall be the sum of the amounts calculated for that or Dwelling Unit under paragraphs (c) and (d) above, plus the reasonable costs and expenses of performing the calculations, preparing and recording the Notice of Cessation of Special Tax Lien and any other acts or procedures required to be performed in connection with the prepayment, as determined by the Responsible Party. DEFINITIONS Administrative Fees or Expenses means any or all of the following: the fees and expenses of the Fiscal Agent (including any fees or expenses of its counsel), the expenses of the City in carrying out its duties with respect to the District (including, but not limited to, the levy and collection of the special taxes) including the fees and expenses of its counsel, financing consultants and other consultants, any fees of the County of Riverside related to the District or the collection of special taxes, an allocable share of the salaries of the City staff directly related thereto and a proportionate amount of City general administrative overhead related thereto, any amounts paid, advanced, or incurred by the City from its general funds with respect to the District or the Bonds, and all other costs and expenses of the City or the Fiscal Agent incurred in connection with the discharge of their respective duties under the Fiscal Agency Agreement and, in the case of the City, in any way related to administration of the District. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc B-4
Bonds mean any bonds of the City issued for the District under Mello-Roos Community Facilities Act of 1982, as amended. City means the City of Lake Elsinore. Debt Service, for each Fiscal Year, is the total annual principal and interest payment on the Bonds during the calendar year which commences in such Fiscal Year, less any capitalized interest and any other amounts remaining in the debt service fund held under the Fiscal Agent Agreement as of the end of the previous Fiscal Year. District means the City of Lake Elsinore Community Facilities District No. 98-1 (Summerhill Public Improvements). Fiscal Agent means the Fiscal Agent under the Fiscal Agent Agreement. Fiscal Agent Agreement means the agreement by that name approved by the Resolution of Issuance, and as it may be amended and/or supplemented from time to time. Fiscal Year means the period starting on July 1 and ending the following June 30. means any Riverside County Assessor's or portion thereof that is within the boundaries of the District based on the equalized tax rolls of the County of Riverside. Resolution of Issuance is any Resolution adopted by the City authorizing the issuance of Bonds. Responsible Party is any person or persons who the City may appoint from time to time to compute the levy of the special taxes within the District. Square Foot or Square Feet is the square footage of a single family dwelling unit measured at the exterior walls, but excluding (i) garages, carports, roof overhangs, passageways and patios which are both unenclosed and uncovered, and (ii) tool sheds, greenhouses and similar detached structures. Tax Categories are those categories set forth in the body hereof. Tax Liability for any Fiscal Year is an amount sufficient to pay Debt Service for such Fiscal Year, Administrative Fees or Expenses for such Fiscal Year, an amount determined by the Responsible Party to offset past delinquencies and projected tax delinquencies to occur in such Fiscal Year, and all payments required to be made in the applicable Fiscal Year under the Fiscal Agent Agreement for the Bonds and any supplements thereto. Taxable Property is all real property within the boundaries of the District which is not exempt from the special tax pursuant to law, except that the following property shall not be taxed: any acres of land owned, conveyed or irrevocably offered for dedication to a public agency, or land which is a public right of way or which is an unmanned utility easement making impractical its utilization for other than the purpose set forth in the easement. q:\elsinore\cfd98-1 summerhill\fy04-05\reports\0405 cfd 98-1.doc B-5
EXHIBIT C Debt Service Schedule
CITY OF LAKE ELSINORE SUMMERHILL PUBLIC IMPROVEMENTS DEBT SERVICE SCHEDULE DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL 09/01/03 - - 606,175.63 606,175.63 606,175.63 03/01/04 - - 551,068.75 551,068.75-09/01/04 - - 551,068.75 551,068.75 1,102,137.50 03/01/05 - - 551,068.75 551,068.75-09/01/05 - - 551,068.75 551,068.75 1,102,137.50 03/01/06 - - 551,068.75 551,068.75-09/01/06 - - 551,068.75 551,068.75 1,102,137.50 03/01/07 - - 551,068.75 551,068.75-09/01/07 - - 551,068.75 551,068.75 1,102,137.50 03/01/08 - - 551,068.75 551,068.75-09/01/08 15,000.00 4.125% 551,068.75 566,068.75 1,117,137.50 03/01/09 - - 550,759.38 550,759.38-09/01/09 40,000.00 4.500% 550,759.38 590,759.38 1,141,518.76 03/01/10 - - 549,859.38 549,859.38-09/01/10 70,000.00 4.750% 549,859.38 619,859.38 1,169,718.76 03/01/11 - - 548,196.88 548,196.88-09/01/11 95,000.00 5.000% 548,196.88 643,196.88 1,191,393.76 03/01/12 - - 545,821.88 545,821.88-09/01/12 125,000.00 5.125% 545,821.88 670,821.88 1,216,643.76 03/01/13 - - 542,618.75 542,618.75-09/01/13 160,000.00 5.250% 542,618.75 702,618.75 1,245,237.50 03/01/14 - - 538,418.75 538,418.75-09/01/14 190,000.00 5.500% 538,418.75 728,418.75 1,266,837.50 03/01/15 - - 533,193.75 533,193.75-09/01/15 230,000.00 5.500% 533,193.75 763,193.75 1,296,387.50 03/01/16 - - 526,868.75 526,868.75-09/01/16 280,000.00 6.000% 526,868.75 806,868.75 1,333,737.50 03/01/17 - - 518,468.75 518,468.75-09/01/17 330,000.00 6.000% 518,468.75 848,468.75 1,366,937.50 03/01/18 - - 508,568.75 508,568.75-09/01/18 385,000.00 6.000% 508,568.75 893,568.75 1,402,137.50 03/01/19 - - 497,018.75 497,018.75-09/01/19 445,000.00 6.000% 497,018.75 942,018.75 1,439,037.50 03/01/20 - - 483,668.75 483,668.75-09/01/20 510,000.00 6.000% 483,668.75 993,668.75 1,477,337.50 03/01/21 - - 468,368.75 468,368.75-09/01/21 575,000.00 6.250% 468,368.75 1,043,368.75 1,511,737.50 03/01/22 - - 450,400.00 450,400.00-09/01/22 650,000.00 6.250% 450,400.00 1,100,400.00 1,550,800.00 03/01/23 - - 430,087.50 430,087.50-09/01/23 725,000.00 6.250% 430,087.50 1,155,087.50 1,585,175.00 03/01/24 - - 407,431.25 407,431.25-09/01/24 810,000.00 6.250% 407,431.25 1,217,431.25 1,624,862.50 03/01/25 - - 382,118.75 382,118.75-09/01/25 895,000.00 6.250% 382,118.75 1,277,118.75 1,659,237.50
CITY OF LAKE ELSINORE SUMMERHILL PUBLIC IMPROVEMENTS DEBT SERVICE SCHEDULE DATE PRINCIPAL COUPON INTEREST PERIOD TOTAL FISCAL TOTAL 03/01/26 - - 354,150.00 354,150.00-09/01/26 990,000.00 6.250% 354,150.00 1,344,150.00 1,698,300.00 03/01/27 - - 323,212.50 323,212.50-09/01/27 1,090,000.00 6.375% 323,212.50 1,413,212.50 1,736,425.00 03/01/28 - - 288,468.75 288,468.75-09/01/28 1,195,000.00 6.375% 288,468.75 1,483,468.75 1,771,937.50 03/01/29 - - 250,378.13 250,378.13-09/01/29 1,310,000.00 6.375% 250,378.13 1,560,378.13 1,810,756.26 03/01/30 - - 208,621.88 208,621.88-09/01/30 1,430,000.00 6.375% 208,621.88 1,638,621.88 1,847,243.76 03/01/31 - - 163,040.63 163,040.63-09/01/31 1,560,000.00 6.375% 163,040.63 1,723,040.63 1,886,081.26 03/01/32 - - 113,315.63 113,315.63-09/01/32 1,700,000.00 6.375% 113,315.63 1,813,315.63 1,926,631.26 03/01/33 - - 59,128.13 59,128.13-09/01/33 1,855,000.00 6.375% 59,128.13 1,914,128.13 1,973,256.26
EXHIBIT D Special Tax Roll
EXHIBIT D SPECIAL TAX ROLL (Fiscal Year 2004-05) CITY OF LAKE ELSINORE CFD No. 98-1 Assessor's Number Special Tax Classification Special Tax Amount 363-261-001 Exempt Property $0.00 363-261-002 Developed Property $2,088.00 363-261-003 Exempt Property $0.00 363-261-004 Exempt Property $0.00 363-261-005 Developed Property $2,365.38 363-261-006 Developed Property $1,903.36 363-261-007 Developed Property $2,088.00 363-261-008 Developed Property $2,365.38 363-261-009 Developed Property $2,365.38 363-261-010 Exempt Property $0.00 363-261-011 Exempt Property $0.00 363-261-012 Exempt Property $0.00 363-261-013 Exempt Property $0.00 363-261-014 Exempt Property $0.00 363-261-015 Exempt Property $0.00 363-261-016 Exempt Property $0.00 363-261-017 Exempt Property $0.00 363-261-018 Exempt Property $0.00 363-261-019 Exempt Property $0.00 363-261-020 Exempt Property $0.00 363-261-021 Exempt Property $0.00 363-261-022 Exempt Property $0.00 363-261-023 Exempt Property $0.00 363-262-001 Exempt Property $0.00 363-262-002 Exempt Property $0.00 363-262-003 Exempt Property $0.00 363-262-004 Exempt Property $0.00 363-262-005 Exempt Property $0.00 363-262-006 Exempt Property $0.00 363-262-007 Exempt Property $0.00 363-262-008 Exempt Property $0.00 363-262-009 Exempt Property $0.00 363-262-010 Developed Property $2,780.66 363-262-011 Developed Property $2,346.38 363-262-012 Developed Property $2,780.66 363-262-013 Developed Property $2,365.38 363-262-014 Developed Property $2,088.00 363-262-015 Developed Property $2,365.38 363-262-016 Developed Property $1,903.36 363-262-017 Developed Property $2,088.00 363-262-018 Developed Property $2,365.38 363-262-019 Developed Property $1,903.36 363-263-001 Developed Property $2,365.38 363-263-002 Developed Property $2,088.00 363-263-003 Developed Property $2,365.38 363-263-004 Developed Property $1,903.36 363-263-005 Developed Property $2,088.00 Assessor's Number Special Tax Classification Special Tax Amount 363-263-006 Developed Property $2,365.38 363-263-007 Developed Property $1,903.36 363-263-008 Developed Property $2,780.66 363-263-009 Developed Property $2,634.06 363-263-010 Developed Property $2,346.38 363-263-011 Developed Property $2,365.38 363-263-012 Developed Property $2,088.00 363-263-013 Developed Property $1,903.36 363-263-014 Developed Property $2,074.54 363-263-015 Exempt Property $0.00 363-263-016 Exempt Property $0.00 363-263-017 Exempt Property $0.00 363-263-018 Exempt Property $0.00 363-271-001 Developed Property $2,780.66 363-271-002 Developed Property $2,260.78 363-271-003 Developed Property $2,780.66 363-271-004 Developed Property $2,074.54 363-271-005 Exempt Property $0.00 363-272-001 Developed Property $2,074.54 363-272-002 Developed Property $2,346.38 363-272-003 Developed Property $2,260.78 363-272-004 Developed Property $2,634.06 363-272-005 Developed Property $2,780.66 363-272-006 Developed Property $3,258.54 363-272-007 Developed Property $2,457.32 363-273-001 Exempt Property $0.00 363-273-002 Exempt Property $0.00 363-273-003 Exempt Property $0.00 363-273-004 Exempt Property $0.00 363-273-005 Exempt Property $0.00 363-273-006 Exempt Property $0.00 363-273-007 Exempt Property $0.00 363-273-008 Exempt Property $0.00 363-273-009 Exempt Property $0.00 363-273-010 Exempt Property $0.00 363-273-011 Exempt Property $0.00 363-273-012 Developed Property $2,179.94 363-273-013 Developed Property $2,031.74 363-273-014 Developed Property $1,869.28 363-273-015 Developed Property $2,031.74 363-273-016 Developed Property $2,621.36 363-273-017 Developed Property $2,780.66 363-273-018 Developed Property $2,074.54 363-273-019 Developed Property $2,780.66 363-273-020 Developed Property $2,346.38 363-273-021 Developed Property $2,532.60 363-273-022 Developed Property $2,626.12 D - 1
EXHIBIT D SPECIAL TAX ROLL (Fiscal Year 2004-05) CITY OF LAKE ELSINORE CFD No. 98-1 Assessor's Number Special Tax Classification Special Tax Amount 363-273-023 Developed Property $2,780.66 363-273-024 Exempt Property $0.00 363-274-001 Developed Property $2,031.74 363-274-002 Developed Property $1,869.28 363-274-003 Developed Property $2,031.74 363-274-004 Developed Property $2,287.72 363-274-005 Developed Property $2,031.74 363-274-006 Developed Property $2,179.94 363-274-007 Developed Property $2,260.78 363-274-008 Developed Property $2,621.36 363-274-009 Developed Property $2,346.38 363-274-010 Developed Property $2,780.66 363-274-011 Developed Property $2,621.36 363-275-001 Developed Property $2,780.66 363-275-002 Developed Property $2,260.78 363-275-003 Developed Property $2,621.36 363-275-004 Developed Property $2,532.60 363-275-005 Developed Property $2,074.54 363-275-006 Developed Property $2,780.66 363-275-007 Developed Property $2,346.38 363-275-008 Developed Property $2,621.36 363-275-009 Developed Property $2,780.66 363-275-010 Developed Property $2,287.72 363-275-011 Developed Property $2,031.74 363-275-012 Developed Property $2,287.72 363-275-013 Developed Property $2,031.74 363-275-014 Developed Property $1,869.28 363-275-015 Developed Property $2,031.74 363-275-016 Developed Property $2,179.94 363-275-017 Exempt Property $0.00 363-275-018 Exempt Property $0.00 363-281-001 Developed Property $2,058.68 363-281-002 Developed Property $2,532.60 363-281-003 Developed Property $2,074.54 363-281-004 Developed Property $2,634.06 363-281-005 Developed Property $2,532.60 363-281-006 Developed Property $2,346.38 363-281-007 Developed Property $2,058.68 363-281-008 Developed Property $2,260.78 363-281-009 Developed Property $2,074.54 363-281-010 Developed Property $2,260.78 363-281-011 Developed Property $2,780.66 363-281-012 Developed Property $2,058.68 363-281-013 Developed Property $2,532.60 363-281-014 Developed Property $2,780.66 363-281-015 Developed Property $2,074.54 363-281-016 Developed Property $2,532.60 Assessor's Number Special Tax Classification Special Tax Amount 363-281-017 Developed Property $2,346.38 363-281-018 Developed Property $2,058.68 363-281-019 Developed Property $2,532.60 363-281-020 Developed Property $2,346.38 363-281-021 Developed Property $2,780.66 363-281-022 Developed Property $2,634.06 363-281-023 Exempt Property $0.00 363-281-024 Exempt Property $0.00 363-282-001 Developed Property $2,230.66 363-282-002 Developed Property $2,346.38 363-282-003 Developed Property $2,532.60 363-282-004 Developed Property $2,260.78 363-282-005 Developed Property $2,532.60 363-282-006 Developed Property $2,634.06 363-282-007 Developed Property $2,346.38 363-282-008 Developed Property $2,532.60 363-282-009 Developed Property $2,780.66 363-282-010 Developed Property $2,058.68 363-282-011 Developed Property $2,532.60 363-282-012 Developed Property $2,634.06 363-282-013 Developed Property $2,230.66 363-282-014 Developed Property $2,346.38 363-282-015 Developed Property $2,058.68 363-282-016 Developed Property $2,634.06 363-282-017 Developed Property $2,346.38 363-282-018 Developed Property $2,532.60 363-282-019 Developed Property $2,260.78 363-282-020 Developed Property $2,780.66 363-282-021 Developed Property $2,074.54 363-282-022 Developed Property $2,780.66 363-282-023 Developed Property $2,346.38 363-282-024 Developed Property $2,634.06 363-282-025 Developed Property $2,260.78 363-283-001 Developed Property $2,074.54 363-283-002 Developed Property $2,260.78 363-283-003 Developed Property $2,634.06 363-283-004 Developed Property $2,346.38 363-283-005 Developed Property $2,780.66 363-283-006 Developed Property $2,074.54 363-283-007 Developed Property $2,634.06 363-283-008 Developed Property $2,780.66 363-283-009 Developed Property $2,532.60 363-283-010 Developed Property $2,346.38 363-283-011 Developed Property $2,634.06 363-283-012 Developed Property $2,074.54 363-283-013 Developed Property $2,260.78 363-283-014 Developed Property $2,074.54 D - 2
EXHIBIT D SPECIAL TAX ROLL (Fiscal Year 2004-05) CITY OF LAKE ELSINORE CFD No. 98-1 Assessor's Number Special Tax Classification Special Tax Amount 363-283-015 Developed Property $2,634.06 363-283-016 Developed Property $2,230.66 363-283-017 Developed Property $2,780.66 363-283-018 Developed Property $2,346.38 363-283-019 Developed Property $2,780.66 363-283-020 Developed Property $2,260.78 363-283-021 Developed Property $2,532.60 363-283-022 Developed Property $2,780.66 363-283-023 Developed Property $2,074.54 363-291-001 Developed Property $2,532.60 363-291-002 Developed Property $2,634.06 363-291-003 Developed Property $2,780.66 363-291-004 Developed Property $2,634.06 363-291-005 Developed Property $2,260.78 363-291-006 Developed Property $2,634.06 363-291-007 Developed Property $2,346.38 363-291-008 Developed Property $2,780.66 363-291-009 Developed Property $2,074.54 363-291-010 Developed Property $2,346.38 363-291-011 Developed Property $2,634.06 363-291-012 Developed Property $2,780.66 363-291-013 Developed Property $2,532.60 363-291-014 Developed Property $2,074.54 363-291-015 Developed Property $2,260.78 363-291-016 Developed Property $2,634.06 363-291-017 Developed Property $2,780.66 363-291-018 Developed Property $2,532.60 363-291-019 Developed Property $2,074.54 363-291-020 Developed Property $2,260.78 363-291-021 Developed Property $2,346.38 363-291-022 Developed Property $2,634.06 363-292-001 Developed Property $2,260.78 363-292-002 Developed Property $2,074.54 363-292-003 Developed Property $2,532.60 363-292-004 Developed Property $2,780.66 363-292-005 Developed Property $2,634.06 363-292-006 Developed Property $2,260.78 363-292-007 Developed Property $2,780.66 363-292-008 Developed Property $2,634.06 363-292-009 Developed Property $2,780.66 363-292-010 Developed Property $2,074.54 363-292-011 Developed Property $2,634.06 363-292-012 Developed Property $2,074.54 363-292-013 Developed Property $2,260.78 363-292-014 Developed Property $2,780.66 363-292-015 Developed Property $2,532.60 363-292-016 Developed Property $2,346.38 Assessor's Number Special Tax Classification Special Tax Amount 363-292-017 Developed Property $2,074.54 363-292-018 Exempt Property $0.00 363-292-019 Exempt Property $0.00 363-292-020 Exempt Property $0.00 363-301-001 Developed Property $2,828.22 363-301-002 Developed Property $2,289.30 363-301-003 Developed Property $2,759.26 363-301-004 Developed Property $2,661.78 363-301-005 Developed Property $2,931.24 363-301-006 Developed Property $2,289.30 363-301-007 Developed Property $2,759.26 363-301-008 Developed Property $2,828.22 363-301-009 Developed Property $2,931.24 363-301-010 Developed Property $2,931.24 363-301-011 Developed Property $2,661.78 363-301-012 Developed Property $2,289.30 363-301-013 Developed Property $2,759.26 363-301-014 Developed Property $2,828.22 363-301-015 Developed Property $2,289.30 363-301-016 Developed Property $2,931.24 363-301-017 Developed Property $2,289.30 363-301-018 Developed Property $2,661.78 363-301-019 Developed Property $2,759.26 363-301-020 Developed Property $2,289.30 363-301-021 Developed Property $2,931.24 363-301-022 Developed Property $2,828.22 363-301-023 Developed Property $2,931.24 363-301-024 Developed Property $2,828.22 363-301-025 Developed Property $2,931.24 363-301-026 Developed Property $2,661.78 363-301-027 Developed Property $2,289.30 363-301-028 Developed Property $2,759.26 363-301-029 Developed Property $2,828.22 363-301-030 Developed Property $2,289.30 363-301-031 Developed Property $2,931.24 363-302-001 Developed Property $2,828.22 363-302-002 Developed Property $2,289.30 363-302-003 Developed Property $2,759.26 363-302-004 Developed Property $2,289.30 363-302-005 Developed Property $2,661.78 363-302-006 Developed Property $2,931.24 363-302-007 Developed Property $2,759.26 363-302-008 Developed Property $2,828.22 363-302-009 Developed Property $2,931.24 363-302-010 Developed Property $2,289.30 363-302-011 Developed Property $2,931.24 363-302-012 Developed Property $2,661.78 D - 3
EXHIBIT D SPECIAL TAX ROLL (Fiscal Year 2004-05) CITY OF LAKE ELSINORE CFD No. 98-1 Assessor's Number Special Tax Classification Special Tax Amount 363-302-013 Developed Property $2,289.30 363-302-014 Developed Property $2,661.78 363-302-015 Developed Property $2,759.26 363-302-016 Developed Property $2,828.22 363-302-017 Developed Property $2,931.24 363-302-018 Developed Property $2,828.22 363-302-019 Developed Property $2,759.26 363-302-020 Developed Property $2,289.30 363-302-021 Developed Property $2,931.24 363-302-022 Developed Property $2,828.22 363-302-023 Developed Property $2,289.30 363-302-024 Developed Property $2,828.22 363-302-025 Developed Property $2,289.30 363-302-026 Developed Property $2,931.24 363-302-027 Developed Property $2,289.30 363-302-028 Developed Property $2,828.22 363-302-029 Developed Property $2,289.30 363-302-030 Developed Property $2,931.24 363-303-001 Developed Property $2,828.22 363-303-002 Developed Property $2,289.30 363-303-003 Developed Property $2,931.24 363-303-004 Developed Property $2,828.22 363-303-005 Developed Property $2,931.24 363-303-006 Developed Property $2,828.22 363-303-007 Developed Property $2,931.24 363-303-008 Developed Property $2,289.30 363-303-009 Developed Property $2,828.22 363-303-010 Developed Property $2,931.24 363-303-011 Developed Property $2,289.30 363-311-001 Developed Property $2,931.24 363-311-002 Developed Property $2,661.78 363-311-003 Developed Property $2,289.30 363-311-004 Developed Property $2,828.22 363-311-005 Developed Property $2,931.24 363-311-006 Developed Property $2,931.24 363-311-007 Developed Property $2,661.78 363-311-008 Developed Property $2,289.30 363-311-009 Developed Property $2,759.26 363-311-010 Developed Property $2,828.22 363-312-001 Developed Property $2,931.24 363-312-002 Developed Property $2,289.30 363-312-003 Developed Property $2,661.78 363-312-004 Developed Property $2,931.24 363-312-005 Developed Property $2,828.22 363-312-006 Developed Property $2,828.22 363-312-007 Developed Property $2,289.30 363-312-008 Developed Property $2,759.26 Assessor's Number Special Tax Classification Special Tax Amount 363-312-009 Developed Property $2,289.30 363-312-010 Developed Property $2,661.78 363-313-001 Developed Property $2,289.30 363-313-002 Developed Property $2,931.24 363-313-003 Developed Property $2,828.22 363-313-004 Developed Property $2,289.30 363-313-005 Developed Property $2,661.78 363-313-006 Developed Property $2,759.26 363-313-007 Developed Property $2,828.22 363-313-008 Developed Property $2,759.26 363-313-009 Developed Property $2,661.78 363-313-010 Developed Property $2,289.30 363-313-011 Developed Property $2,931.24 363-313-012 Developed Property $2,828.22 363-313-013 Developed Property $2,759.26 363-313-014 Exempt Property $0.00 363-313-015 Exempt Property $0.00 363-320-001 Developed Property $2,289.30 363-320-002 Developed Property $2,828.22 363-320-003 Developed Property $2,931.24 363-320-004 Developed Property $2,759.26 363-320-005 Developed Property $2,828.22 363-320-006 Developed Property $2,931.24 363-320-007 Developed Property $2,289.30 363-320-008 Developed Property $2,661.78 363-320-009 Developed Property $2,289.30 363-320-010 Developed Property $2,828.22 363-320-011 Developed Property $2,289.30 363-320-012 Developed Property $2,759.26 363-320-013 Developed Property $2,759.26 363-320-014 Developed Property $2,289.30 363-320-015 Developed Property $2,931.24 363-320-016 Developed Property $2,289.30 363-320-017 Developed Property $2,759.26 363-320-018 Developed Property $2,289.30 363-320-019 Developed Property $2,828.22 363-320-020 Developed Property $2,931.24 363-320-021 Exempt Property $0.00 363-320-022 Exempt Property $0.00 363-331-003 Developed Property $3,389.32 363-331-004 Developed Property $2,521.52 363-331-005 Developed Property $3,216.54 363-331-006 Developed Property $2,947.88 363-331-007 Developed Property $3,389.32 363-331-008 Developed Property $2,947.88 363-331-009 Developed Property $2,521.52 363-331-010 Developed Property $3,216.54 D - 4
EXHIBIT D SPECIAL TAX ROLL (Fiscal Year 2004-05) CITY OF LAKE ELSINORE CFD No. 98-1 Assessor's Number Special Tax Classification Special Tax Amount 363-331-011 Developed Property $3,109.56 363-331-012 Developed Property $2,521.52 363-331-013 Exempt Property $0.00 363-331-015 Developed Property $3,216.54 363-331-016 Developed Property $3,109.56 363-331-017 Exempt Property $0.00 363-332-001 Developed Property $3,216.54 363-332-002 Developed Property $2,521.52 363-332-003 Developed Property $3,389.32 363-332-004 Developed Property $3,109.56 363-332-005 Developed Property $3,216.54 363-332-006 Developed Property $3,109.56 363-332-007 Developed Property $2,521.52 363-332-008 Developed Property $3,216.54 363-332-009 Developed Property $2,947.88 363-332-010 Developed Property $2,521.52 363-332-013 Developed Property $3,389.32 363-332-014 Developed Property $2,521.52 363-332-015 Developed Property $3,389.32 363-332-016 Developed Property $2,947.88 363-332-017 Developed Property $3,216.54 363-332-018 Developed Property $2,947.88 363-332-019 Developed Property $3,389.32 363-332-020 Developed Property $3,216.54 363-332-021 Developed Property $2,521.52 363-332-022 Developed Property $3,389.32 363-332-023 Developed Property $3,109.56 363-332-024 Developed Property $3,389.32 363-332-025 Developed Property $3,109.56 363-333-001 Developed Property $2,947.88 363-333-002 Developed Property $3,216.54 363-333-003 Developed Property $3,109.56 363-333-004 Developed Property $2,521.52 363-333-005 Developed Property $3,216.54 363-333-006 Developed Property $3,109.56 363-333-007 Developed Property $3,389.32 363-333-008 Developed Property $2,521.52 363-333-009 Developed Property $3,216.54 363-333-010 Developed Property $2,521.52 363-333-011 Developed Property $3,389.32 363-333-012 Developed Property $2,521.52 363-333-013 Developed Property $3,109.56 363-333-014 Developed Property $3,389.32 363-333-015 Developed Property $3,109.56 363-333-016 Developed Property $3,389.32 363-333-017 Developed Property $2,521.52 363-333-018 Developed Property $2,947.88 Assessor's Number Special Tax Classification Special Tax Amount 363-333-019 Developed Property $3,216.54 363-333-020 Developed Property $2,947.88 363-333-021 Developed Property $3,389.32 363-333-022 Developed Property $2,521.52 363-334-001 Developed Property $3,389.32 363-334-002 Exempt Property $0.00 363-334-003 Exempt Property $0.00 363-334-004 Exempt Property $0.00 363-334-005 Developed Property $2,521.52 363-334-006 Developed Property $3,109.56 363-334-007 Developed Property $3,216.54 363-334-008 Developed Property $3,109.56 363-334-009 Developed Property $3,389.32 363-341-001 Developed Property $3,389.32 363-341-002 Developed Property $2,947.88 363-341-003 Developed Property $3,216.54 363-341-004 Developed Property $2,521.52 363-341-005 Developed Property $3,389.32 363-341-006 Developed Property $2,947.88 363-341-007 Developed Property $3,389.32 363-341-008 Developed Property $2,521.52 363-341-009 Developed Property $3,109.56 363-341-010 Developed Property $3,389.32 363-341-011 Developed Property $2,947.88 363-341-012 Developed Property $3,216.54 363-341-013 Developed Property $3,109.56 363-341-014 Developed Property $3,216.54 363-341-015 Developed Property $2,947.88 363-341-016 Developed Property $3,216.54 363-341-017 Developed Property $3,109.56 363-341-018 Developed Property $2,521.52 363-341-019 Developed Property $3,389.32 363-341-020 Developed Property $3,109.56 363-341-021 Developed Property $3,216.54 363-341-022 Developed Property $2,947.88 363-341-023 Developed Property $3,389.32 363-341-024 Developed Property $2,521.52 363-341-025 Developed Property $3,216.54 363-341-026 Developed Property $3,389.32 363-341-027 Developed Property $3,109.56 363-341-028 Developed Property $2,521.52 363-341-029 Developed Property $3,389.32 363-342-001 Developed Property $3,389.32 363-342-002 Developed Property $3,109.56 363-342-003 Developed Property $3,216.54 363-342-004 Developed Property $3,389.32 363-342-005 Developed Property $3,389.32 D - 5
Assessor's Number Special Tax Classification Special Tax Amount 363-342-006 Developed Property $3,109.56 363-342-007 Developed Property $3,389.32 363-342-008 Developed Property $3,109.56 363-342-009 Developed Property $3,216.54 363-342-010 Developed Property $2,947.88 363-342-011 Developed Property $3,389.32 363-343-001 Developed Property $3,216.54 363-343-002 Developed Property $3,109.56 363-343-003 Developed Property $3,389.32 363-343-004 Developed Property $3,389.32 363-343-005 Developed Property $3,109.56 363-550-010 Exempt Property $0.00 363-550-012 Exempt Property $0.00 363-550-013 Exempt Property $0.00 363-550-014 Exempt Property $0.00 363-670-001 Exempt Property $0.00 363-670-002 Exempt Property $0.00 363-670-003 Exempt Property $0.00 363-670-004 Exempt Property $0.00 363-670-005 Exempt Property $0.00 363-670-006 Exempt Property $0.00 363-670-007 Exempt Property $0.00 363-670-008 Exempt Property $0.00 363-670-009 Exempt Property $0.00 363-670-010 Exempt Property $0.00 495 s $1,118,135.66 EXHIBIT D SPECIAL TAX ROLL (Fiscal Year 2004-05) CITY OF LAKE ELSINORE CFD No. 98-1 D - 6