ATTACHMENT 5
Rate of Method of Apportionment of Special Tax for
CFD No. 2001‐01
EXHIBIT A
COMMUNITY FACILITIES DISTRICT REPORT
SAN MARCOS FIRE PROTECTION DISTRICT
COMMUNITY FACILITIES DISTRICT NO. 2001 -01
MELLO-ROOS COMMUNITY FACILITIES ACT OF 1982
RATE AND METHOD OF APPORTIONMENT
OF SPECIAL TAX
Special taxes applicable to each Taxable Assessor's Parcel of land in Community Facilities District No. 2001 -01 ("CFD No. 20 01-01") of the San Marcos Fire Protection District ("SMFPD"), California shall be levied and collected pursuant to the special tax liability as determined by the Board of Directors of the SMFPD (the "Board"), acting in its capacity as the legislative body of CFD No. 2001-01, or its designee. All of the property within CFD No. 2001 - 01, unless otherwise exempted by law or the provisions of the rate and method of apportionment expressed below, shall be taxed to the extent and in the manner herein provided.
Maximum Annual Special Tax
The Maximum Annual Special Tax for Facilities and the Maximum Annual Special Tax for Services (together the "Maximum Annual Special Taxes") for Fiscal Year 2001 -02 is shown in the table on the following page. The Maximum Annual Special Taxes shall increase two percent (2.00%) annually, commencing with July 1 of Fiscal Year 2002 -2003 and on each July 1 thereafter.
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San Marcos Fire Protection District
Community Facilities District No. 2001-01
Maximum Annual Special Taxes
Fiscal Year 2001-02
Maximum Annual Special Taxes
Land Use Classification Facilities Services Total
Single Family $41.05 $75.48 $116.53 per Dwelling Unit
Multi-Family 41.05 75.48 116.53 per Dwelling Unit
Commercial 287.35 528.36 815.71 per Acre
Office Professional 574.70 1,056.72 1,631.42 per Acre
Light Industrial 217.57 400.04 617.61 per Acre
Industrial 217.57 400.04 617.61 per Acre
Agricultural1 217.57 400.04 617.61 per Acre
Business Park 504.92 928.40 1,433.32 per Acre
Institutional 82.10 150.96 233.06 per Acre 1Includes agricultural packaging, processing, or greenhouse facilities, or similar structures or operations.
Excludes property that is used for agricultural crops or raising and keeping poultry and other small animals, horses, bovine ani mals, sheep, goats, and swine.
Classification of Taxable Assessor's Parcels
Each Fiscal Year, all Taxable Assessor's Parcels shall be classified as either Single Family, Multi-Family, Commercial, Office Professional, Light Industrial, Industrial, Agricu ltural, Business Park, or Institutional (the "Land Use Classifications"). The zoning applicable to an Assessor's Parcel shall determine its Land Use Classification. Notwithstanding the preceding, property zoned for Agricultural uses but for which the actual land use is single family residential, employee housing, mobile home park, resort hotel, child care center, church, etc. shall be classified according to the actual land use. Only that portion of an Assessor's Parcel for which a building permit, condi tional use permit, or other development permit has been issued as of the March 1 preceding the Fiscal Year for which the Special Tax for Facilities and/or Special Tax for Services are being levied shall be subject to the Maximum Annual Special Taxes; notwithstanding the foregoing, residential units which were constructed prior to the date of formation of CFD No. 2001 -1 and to which such permit does not apply will remain exempt following issuance of such permit. With respect to Assessor's Parcels with Comme rcial, Office Professional, Light Industrial, Industrial, Agricultural, Business Park, and Institutional land use A - 3
classifications, the Acreage subject to the Maximum Annual Special Taxes shall be comprised of all improved areas utilized or available to be utilized for such uses, including, but not limited to, the footprint of any structures and loading, packing, and parking areas. Land Use Classifications shall be determined on the March 1 preceding the Fiscal Year for which the Special Tax for Facilities and Special Tax for Services are being levied.
Term of Special Tax
The Maximum Annual Special Tax for Facilities shall not be levied after Fiscal Year 2047 -2048.
The Maximum Annual Special Tax for Services may be levied so long as the Board, acting in its capacity as the legislative body of CFD No. 2001 -01, or its designee, determines that such special taxes are necessary to provide the Authorized Services within CFD No. 2001-01.
Apportionment of Special Tax for Facilities
Commencing with Fiscal Year 2001-02 and for each following Fiscal Year, subject to the preceding paragraph, the Board or its designee shall determine the amount of Special Tax for Facilities to be collected. The Special Tax for Facilities shall be levied as follows until the amount of the levy equals the Special Tax Requirement for Facilities for such Fiscal Year:
The Special Tax for Facilities shall be levied on all Taxable Assessor's Parcels at an equal percentage of the Maximum Annual Special Tax for Facilities up to 100% of such Maximum Annual Special Tax for Facilities.
The Special Tax for Facilities shall be applied in the following order of priority:
First: To pay debt service on bonds secured by the Special Tax for Facilities;
Second: To replenish any reserve fund estab lished pursuant to the issuance of bonds secured by the Special Tax for Facilities;
Third: To pay directly for the cost of the acquisition or construction of Authorized Facilities;
Fourth: To pay Administrative Costs.
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Apportionment of Special Tax for Services
Commencing with Fiscal Year 2001 -02 and for each following Fiscal Year, the Board or its designee shall determine the amount of Special Tax for Services to be collected. The Special Tax for Services shall be levied as follows until the amount of the levy equals the Special Tax Requirement for Services for such Fiscal Year:
The Special Tax for Services shall be levied on all Taxable Assessor's Parcels at an equal percentage of the Maximum Annual Special Tax for Services up to 100% of such Maximum Annual Special Tax for Services.
The Special Tax for Services shall be applied in the following order of priority:
First: To pay for the cost of providing Authorized Services; and
Second: To pay Administrative Costs.
Prepayment and Discharge of Special Tax
The Maximum Annual Special Tax for Facilities and the Maximum Annual Special Tax for Services applicable to a Taxable Assessor's Parcel in CFD No. 2001 -01 may be prepaid and the obligation of such Assessor's Parcel to pay the Maximum Annual Sp ecial Taxes permanently satisfied by prepaying both the Maximum Annual Special Tax for Facilities and the Maximum Annual Special Tax for Services pursuant to the methodology shown on Attachment 1.
Definitions
"Acre" of parcel means the area of the lots or parcels as shown on any final approved subdivision and/or parcel map, or if not subject to any final approved subdivision and/or parcel map, shall be the acreage as shown on the last County Assessor's map for each Fiscal Year any special tax is to be levied.
"Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Division 2 of Title 5 of the Government Code of the State of California.
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"Administrative Costs" means any ordinary and necessary expenses of the Board to car ry out its duties as the legislative body of CFD No. 2001-01.
"Agricultural" means (i) the "Agricultural" zoning set forth in the Zoning Ordinance of the City of San Marcos, (ii) the County of San Diego zoning equivalent determined by the CFD Administrator, or (iii) the entitlement established by any conditional use permit or building permit that has been issued for purposes of constructing or operating an agricultural packaging, processing, or greenhouse facility, or similar structure or operation. Prope rty which is used for growing agricultural crops or raising and keeping poultry and other small animals, horses, bovine animals, sheep, goats, and swine shall not be classified as Agricultural.
"Assessor's Parcel" means a lot or parcel shown in an Assesso r's Parcel Map with an assigned Assessor's Parcel number.
"Assessor's Parcel Map" means an official map of the County Assessor of the County of San Diego designating parcels by Assessor's Parcel number.
"Authorized Facilities" means those fire suppressio n and protection and ambulance and paramedic facilities and equipment as described in the "Community Facilities District Report San Marcos Fire Protection District Community Facilities District No. 2001-01."
"Authorized Services" means those fire suppress ion and protection and ambulance and paramedic services as described in the "Community Facilities District Report San Marcos Fire Protection District Community Facilities District No. 2001-01."
"Business Park" means (i) the "Business Park" or "Town Center " zoning set forth in the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"CFD Administrator" means an official of the SMFPD, or designee thereof, responsible for determining the Special Tax Requirement for Facilities and the Special Tax Requirement for Services and providing for the levy and collection of the Special Tax for Facilities and Special Tax for Services.
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"Commercial" means (i) the "Commercial" zoning set forth i n the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"Dwelling Unit" means any building or portion thereof which contains living facilities, including provisions for sleepi ng, eating cooking and sanitation, for no more than one family, or a congregated residence for 10 or less persons.
"Equivalent Dwelling Unit (EDU)" means a basic unit whereby a single family detached dwelling unit is equal to one EDU and all other land uses are a ratio relative to this base measure.
"Fiscal Year" means the period starting July 1 and ending on the following June 30.
"Industrial" means (i) the "Industrial" zoning set forth in the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"Institutional" means (i) the "Institutional" zoning set forth in the Zoning Ordinance of the City of San Marcos, (ii) the zoning established by a conditional use permit or building pe rmit which has been issued for purposes of a church or any other institutional use permitted thereby, or (iii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"Light Industrial" means (i) the "Light Industrial" zoning set forth in the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"Maximum Annual Special Tax for Facilities" means t he maximum special tax that may be levied within CFD No. 2001 -01 for any Fiscal Year to meet the Special Tax Requirement for Facilities.
"Maximum Annual Special Tax for Services" means the maximum special tax that may be levied within CFD No. 2001-01 for any Fiscal Year to meet the Special Tax Requirement for Services.
"Multi-Family" means (i) the "Residence R -3" zoning set forth in the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
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"Office Professional" means (i) the "Office Professi onal" zoning set forth in the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"Single Family" means (i) the "Residence R -1," "Residence R -2," and "Mobilehome Park" zoning set forth in the Zoning Ordinance of the City of San Marcos or (ii) the County of San Diego zoning equivalent determined by the CFD Administrator.
"Special Tax for Facilities" means t he special tax to be levied within CFD No. 2001 -01 for any Fiscal Year to meet the Special Tax Requirement for Facilities.
"Special Tax for Services" means t he special tax to be levied within CFD No. 2001 -01 for any Fiscal Year to meet the Special Tax Requirement for Services.
"Special Tax Requirement for Facilities" means the amount sufficient in any Fiscal Year (1) to pay debt service on bonds secured by the Special Tax for Facilities, (2) to replenish any reserve fund established pursuant to the issuance of bonds secured by the Special Tax for Facilities, (3) to pay directly for the cost of the acquisition or construction of Authorized Facilities and (4) to pay the Administrative Costs.
"Special Tax Requirement for Services" means the amount sufficient in any Fiscal Year to pay (1) the cost of providing the Authorized Servic es within CFD No. 2001 -01, and (2) the Administrative Costs.
"Taxable Assessor's Parcel" means an Assessor's Parcel located within the boundaries of CFD No. 2001 -01 and for which a building permit, conditional use permit, or other development permit, as applicable, has been issued as of the March 1 preceding the Fiscal Year for which the Special Tax for Facilities and/or Special Tax for Services are being levied.
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Attachment 1
Prepayment of the Maximum Annual Special Taxes
The Maximum Annual Special Tax for Facilities and the Maximum Annual Special Tax for Services applicable to a Taxable Assessor's Parcel in CFD No. 2001 -01 may be prepaid and the obligation of the Assessor's Parcel to pay such Maximum Annual Special Taxes permanently satisfied as describ ed herein, provided that a prepayment may be made only if there are no delinquent special taxes with respect to such Assessor's Parcel at the time of prepayment and that said prepayment is for both the Maximum Annual Special Tax for Facilities and Maximum Annual Special Tax for Services. An owner of an Assessor's Parcel intending to prepay the Maximum Annual Special Taxes shall provide CFD No. 2001 -01 with a written notice of intent to prepay. Within 30 days of receipt of such written notice, CFD No. 2001 -01 shall notify such owner of the "Prepayment Amount" of such Assessor's Parcel.
A. Prepayment of the Maximum Annual Special Tax for Facilities
The Prepayment Amount for the Maximum Annual Special Tax for Facilities shall be calculated as the present va lue of the Maximum Annual Special Tax for Facilities escalated at two percent (2.00%), from the Fiscal Year in which the prepayment shall be made through the last Fiscal Year that such special tax may be levied on the Assessor's Parcel.
B. Prepayment of the Maximum Annual Special Tax for Services
The Prepayment Amount for the Maximum Annual Special Tax for Services shall be calculated as the present value of the Maximum Annual Special Tax for Services escalated at two percent (2.00%), from the Fiscal Year in which the prepayment shall be made through the Fiscal Year which is seventy-five (75) years from the Fiscal Year in which the prepayment shall be made.
C. Present Value Assumptions
The assumptions to be used when present valuing the Maximum Annual Sp ecial Taxes are as follows:
1. If bonds are outstanding, which have been issued to finance the Authorized Facilities, then the discount rate used for calculating the present value of the Maximum Annual A - 9
Special Tax for Facilities shall be equal to the bon d yield for said bonds. If no bonds are outstanding, then the discount rate used for calculating the present value of the Maximum Annual Special Tax for Facilities shall be equal to the rate of return earned on the City's general fund investment portfolio for the preceding twelve months.
2. The discount rate used for calculating the present value of the Maximum Annual Special Tax for Services shall be equal to the rate of return earned on the City's general fund investment portfolio for the preceding twelve months.
3. A 360 day year.
4. The Maximum Annual Special Taxes will be discounted from July 1 of each Fiscal Year.
D. Determination of Prepayment Amount
The Prepayment Amount shall be calculated as summarized below:
1. Compute the present value of the Maximum Annual Special Tax for Facilities pursuant to sections A and C above; plus
2. Compute the present value of the Maximum Annual Special Tax for Services pursuant to sections B and C above; plus
3. Compute an amount to cover the administrative fees and expenses of CFD No. 2001-01, as calculated by the SMFPD, which include, but are not limited to, the costs of computation of the prepayment, the costs of removing any special taxes from the roll, and the costs of recording any notices to evidence the prepayment.
4. The Prepayment amount for the Maximum Annual Special Taxes is equal to the sum of the amounts computed pursuant to paragraphs 1, 2, and 3.
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San Marcos Fire Protection District
Community Facilities District No. 2001-01
Prepayment Amounts for Fiscal Year 2001-021
Prepayment Amount FY 2001-021
Land Use Classification Facilities Services Total
Single Family $1,068.88 $2,341.39 $3,410.27 per Dwelling Unit Multi-Family 1,068.88 2,341.39 3,410.27 per Dwelling Unit Commercial 7,482.16 16,389.73 23,871.89 per Acre
Office-Professional 14,964.32 32,779.46 47,743.78 per Acre Light Industrial 5,665.06 12,409.37 18,074.43 per Acre
Industrial 5,665.06 12,409.37 18,074.43 per Acre
Agricultural 5,665.06 12,409.37 18,074.43 per Acre
Business Park 13,147.22 28,799.10 41,946.32 per Acre
Institutional 2,137.76 4,682.78 6,820.54 per Acre
1Excludes amount to cover administrative expenses. Based on 5.0% discount rate.
The payment in full of the above calculated amount, plus the applicable ad ministrative expenses and recording fees, fully discharges any further obligation of the Assessor's Parcel for the Authorized Facilities and Authorized Services funded within CFD No. 2001-01.
With respect to any Assessor's Parcel that is prepaid, the SMFP D shall cause a suitable notice to be recorded in compliance with the Act within 30 days of receipt of the Prepayment Amount, to indicate the prepayment of the Maximum Annual Special Taxes and the release of the special tax lien on such Assessor's Parcel, and the obligation of such Assessor's Parcel to pay the Maximum Annual Special Taxes shall cease.