Deferral of Fees for Extended CFD Term. In connection with the formation of the Infrastructure CFD and pursuant to the Placer County Bond Screening Committee Rules and Procedures, the Developer may request that the term for the authorized levy of special taxes be extended beyond the term otherwise required to support the initial bond sale to finance the CFD Improvements (such as 20 or more years beyond). The special taxes to be levied and collected by the Infrastructure CFD during any such extended term, after payment in full of the initial bond sale thereby, are intended by Developer to be available to provide additional special tax revenues and/or support the sale of supplemental bonds (“Extended Term Revenues”) that could be used to fund the costs of other authorized facilities, including without limitation, facilities that would otherwise be funded by Developer’s payment of Project Impact Fees. Extended Term Revenues are intended to enable Developer to defer payment of certain Project Impact Fees (the “Deferred Fees”) from payment at building permit to payment from the Extended Term Revenues, subject to the County’s review and approval of any such deferral and the amount thereof in the County’s sole discretion. County reserves, in its sole discretion, the right to determine at the time of formation of the Infrastructure CFD which Project Impact Fees, if any, and which portions (amounts) thereof, if any, may be included in the list of Deferred Fees for deferral to the Extended CFD Revenues.
