CFD No. 2015-1 (Dublin Crossing) special tax

“On June 2, 2015, the City Council of the City of Dublin (the "City") established Community Facilities District No. 2015-1 (Dublin Crossing) ("CFD No. 2015-1" or "CFD"). In a landowner election held on the same day, the then-qualified landowner electors within CFD No. 2015-1 authorized the levy of a Mello-Roos special tax to pay for city public capital improvements, city-imposed impact fees, Dublin San Ramon Services District capital improvements, Zone 7 capital improvements and impact fees, and private utility facilities. The landowners also voted to incur bonded indebtedness, secured by special taxes levied in Improvement Area No. 1, in an amount not to exceed $46,000,000.”

“The types of facilities to be funded by special tax revenues generally include: City public capital improvements, City-imposed impact fees, Dublin San Ramon Services District capital improvements and impact fees, Zone 7 capital improvements and impact fees, and private utility facilities.”

“A Special Tax applicable to each Assessor's Parcel in Improvement Area No. 1 of the City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) shall be levied and collected according to the tax liability determined by the City or its designee, through the application of the appropriate amount or rate for Taxable Property, as described herein. All of the property in Improvement Area No. 1 of the CFD, unless exempted by law or by the provisions of Section H herein, shall be taxed for the purposes, to the extent, and in the manner herein provided, including property subsequently annexed to Improvement Area No. 1.”

2015-06-02

“On June 2, 2015, the City Council adopted the Resolution of Formation (Reso 96-15), establishing Community Facilities District (CFD) No. 2015-1 (Dublin Crossing).”

Resolution of Formation, Reso 96-15 (City of Dublin); RMA adopted as an exhibit to it, dated May 6, 2015

“On June 2, 2015, the City Council adopted the Resolution of Formation (Reso 96-15), establishing Community Facilities District (CFD) No. 2015-1 (Dublin Crossing).”

“The Special Tax shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that prepayments are permitted as set forth in Section I below and provided further that the City may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner, and may collect delinquent Special Taxes through foreclosure or other available methods.”

County of Alameda, on the ordinary property tax roll; the City may also directly bill

“"City Council" means the City Council of the City of Dublin, acting as the legislative body of CFD No. 2015-1.”

“Notwithstanding any other provision of this RMA, no Special Tax shall be levied on up to 1.91 Acres of Public Property and 13.44 Acres of Homeowners Association Property in Improvement Area No. 1, which acreage amounts will be adjusted with each annexation of property into Improvement Area No. 1 as set forth in Section E above. Tax-exempt status will be assigned by the Administrator separately to Public Property and Homeowners Association Property in chronological order based on the date on which Parcels are transferred to a Public Agency or the Homeowners Association.”

“Step 4. Multiply the Remaining Percentage from Step 3 by the Maximum Special Tax for the Parcel to determine the new Maximum Special Tax that will be in effect for the Parcel after the partial prepayment is applied.”

“Step 1. In all Fiscal Years prior to the earlier of (i) the funding of all the Authorized Facilities or (ii) the fifteenth Fiscal Year in which a Special Tax is levied on Parcels in Improvement Area No. 1, the Maximum Special Tax shall be levied on all Parcels of Developed Property. Pursuant to the flow of funds set forth in the Indenture, any Special Tax proceeds collected that are not needed to pay debt service on the Bonds, replenish reserves, or pay Administrative Expenses shall be used to pay directly for Authorized Facilities. After the Fiscal Year in which the earlier of the two dates set forth above occurs, the Special Tax shall be levied Proportionately on each Parcel of Developed Property, up to 100% of the Maximum Special Tax for each Parcel of Developed Property until the amount levied is equal to the Special Tax Requirement.”