Riverside County road-corridor CFDs 03-1 and 05-8

“In accordance with the provisions of the Act, the Board of Supervisors of the County established the Community Facilities District on April 15, 2003 for the purpose of financing the acquisition, construction and installation of various public improvements required in connection with the proposed development within the Community Facilities District.”

“The District was formed to fund the acquisition and construction of facilities including Newport Road as a six lane urban arterial with raised center median from Menifee Road to Winchester Road (State Highway 79) with required drainage appurtenances and connectors to existing streets. All of the public facilities funded have been accepted/dedicated by the appropriate public agency.”

“The District is irregular in shape and consists of low mountains to rolling hills and level farm land. The district is generally located in the Menifee/Winchester Valley area, partially in the eastern portion of the City of Menifee and partially in an unincorporated portion of south Riverside County ... Specifically, the District is located east of Menifee Road, south of Simpson Road, north of Holland Road and west of Highway 79.”

2003-04-15

“Resolution of Formation: Following a noticed public hearing on April 15, 2003, the Board of Supervisors adopted Resolution No. 2003-173 (the "Resolution of Formation"), establishing the Community Facilities District and authorizing the levy of a special tax within the Community Facilities District pursuant to the Rate and Method.”

Resolution No. 2003-173 (Resolution of Formation); Ordinance levying the Special Tax adopted 2003-08-26

“Resolution of Formation: Following a noticed public hearing on April 15, 2003, the Board of Supervisors adopted Resolution No. 2003-173 (the "Resolution of Formation"), establishing the Community Facilities District and authorizing the levy of a special tax within the Community Facilities District pursuant to the Rate and Method.”

“The Special Tax shall be collected in the same manner and at the same time as ad valorem property taxes and shall be subject to the same penalties, the same procedure, sale and lien priority in the case of delinquency; provided, however, that the County may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet its financial obligations, and may covenant to foreclose and may actually foreclose on Parcels having delinquent Special Taxes as permitted by the Act if necessary to meet the financial obligations of the CFD.”

Treasurer-Tax Collector of the County of Riverside

“Collection and Application of Special Taxes. The Special Taxes are levied and collected by the Treasurer-Tax Collector of the County in the same manner and at the same time as ad valorem property taxes. The Community Facilities District may, however, collect the Special Taxes at a different time or in a different manner if necessary to meet its financial obligations.”

“Notwithstanding, the above, the Special Tax shall not be imposed upon any of the following: (1) The Legislative Body shall not levy Special Taxes on up to 447.36 Acres of Public Property which include, but not limited to, public streets, water and sewer facilities and/or flood control drainage channels. (2) The Legislative Body shall not levy Special Taxes on up to 53.58 Acres of Public Property that is owned by a public school district. (3) The Legislative Body shall not levy Special Taxes on up to 130.17 Acres of Public Property and/or Property Owner's Association Property that is property dedicated and restricted for the use of open space, park, or habitat reserve.”

“A Special Tax (all capitalized terms are defined in Section A. Definitions below), shall be applicable to each Parcel of Taxable Property located within the boundaries of Community Facilities District No. 03-1 (Newport Road) of the County. The amount of Special Tax to be levied each Fiscal Year, commencing in Fiscal Year 2004-05 for a Parcel shall be determined by the Legislative Body of the County of Riverside, acting in its capacity as the legislative body of the CFD by applying the appropriate Special Tax for Developed Property, Undeveloped Property, and Public Property and/or Property Owner's Association Property that is not Exempt Property as set forth in Sections B., C., and D. below.”