Common use of Establishment of Special Tax Fund Clause in Contracts

Establishment of Special Tax Fund. There is hereby established as a separate fund to be held by the Director of Finance, the Community Facilities District No. 2010-1 (One Marina) 2016 Special Tax Refunding Bonds Special Tax Fund, to the credit of which the City shall deposit, as soon as practicable following receipt, all Special Tax Revenues received by the City and any amounts required by Section 3.02(B)(ii)(b), Section 3.02(B)(iv), and Section 3.05(B) hereof to be deposited therein. Notwithstanding the foregoing, (i) the first Special Tax Revenues collected by the City in any Fiscal Year, in an amount equal to the portion of such Fiscal Year’s Special Tax levy for Administrative Expenses (but not to exceed, in any Fiscal Year, the Minimum Administrative Expense Requirement), shall be deposited by the Director of Finance in the Administrative Expense Fund; (ii) any Special Tax Revenues constituting the collection of delinquencies in payment of Special Taxes shall be separately identified by the Director of Finance and shall be disposed of by the Director of Finance first, for transfer to the Fiscal Agent for deposit by the Fiscal Agent in the Bond Fund to pay any past due debt service on the Bonds; second for transfer to the Fiscal Agent for deposit by the Fiscal Agent in the Reserve Fund to the extent needed to increase the amount then on deposit in the Reserve Fund up to the then Reserve Requirement; and third, to be held in the Special Tax Fund for use as described in Section 3.04(B) below; and (iii) any proceeds of Special Tax Prepayments shall be separately identified by the Director of Finance and shall be remitted by the Director of Finance to the Fiscal Agent for deposit by the Fiscal Agent in the Special Tax Prepayments Account. Moneys in the Special Tax Fund shall be held by the Director of Finance for the benefit of the City and the Owners of the Bonds, shall be disbursed as provided below and, pending disbursement, shall be subject to a lien in favor of the Owners of the Bonds.

Establishment of Special Tax Fund. There is hereby established as a separate fund to be held by the Director of FinanceFiscal Agent, the Community Facilities District NoCounty of Xxxx Xxxxxxxxx Xxxxxxxxxx Xxxxxxxx Xx. 20100000-1 0 (One MarinaEdgewater) 2016 Special Tax Refunding Bonds Fund (the “Special Tax Fund, ”). The County shall transfer or cause to be transferred to the credit of which the City shall depositFiscal Agent, as soon as practicable following receipt, all Special Tax Revenues received by the City County and any amounts required by Section 3.02(B)(ii)(b), Section 3.02(B)(iv), 4.01(B)(ii)(b) and Section 3.05(B4.01(B)(iv) hereof to be deposited thereinto the Special Tax Fund, all which amounts shall be deposited by the Fiscal Agent to the Special Tax Fund. In addition, the Fiscal Agent shall deposit in the Special Tax Fund amounts to be transferred thereto pursuant to Section 4.07(B) hereof. Notwithstanding the foregoing, (i) the first Special Tax Revenues collected by the City County in any Fiscal Year, in an amount equal to the portion of such Fiscal Year’s Special Tax levy for Administrative Expenses (but not to exceed, in any Fiscal Year, the Minimum Administrative Expense Requirement$25,000.00), shall be deposited by the Director of Finance Treasurer in the Administrative Expense Fund; (ii) any Special Tax Revenues constituting the collection of delinquencies in payment of Special Taxes shall be separately identified by the Director of Finance Treasurer and shall be disposed of by the Director of Finance first, for transfer to the Fiscal Agent for deposit deposited by the Fiscal Agent first, in the Bond Fund to the extent needed to pay any past due debt service on the Bonds; second for transfer second, to the Fiscal Agent for deposit by the Fiscal Agent in the Reserve Fund to the extent needed to increase the amount funds then on deposit in the Reserve Fund up to an amount equal to the then Reserve Requirement; and third, to be held the Administrative Expense Fund to the extent that amounts in such fund were used to pay costs related to the collection of such delinquencies; and fourth, to the Special Tax Fund for use as described in Section 3.04(B4.06(B) below; and (iii) any proceeds of Special Tax Prepayments shall be separately identified transferred by the Director of Finance and shall be remitted by the Director of Finance Treasurer to the Fiscal Agent for deposit by the Fiscal Agent (as specified in writing by the Treasurer to the Fiscal Agent) directly in the Special Tax Prepayments AccountAccount established pursuant to Section 4.05(A). Moneys in the Special Tax Fund shall be held by the Director of Finance Fiscal Agent for the benefit of the City County and the Owners of the Bonds, shall be disbursed as provided below and, pending disbursement, shall be subject to a lien in favor of the Owners of the BondsBonds and the County.

Establishment of Special Tax Fund. There The Special Tax Fund is hereby established as a separate fund to be held by the Director of Finance, the Community Facilities District No. 2010-1 (One Marina) 2016 Special Tax Refunding Bonds Special Tax FundFiscal Agent, to the credit of which the Fiscal Agent shall deposit amounts received from or on behalf of the City consisting of Special Tax Revenues. Except as provided below, the City shall depositpromptly, as soon as practicable following receipt, all Special Tax Revenues received by but in any event no later than the City and any amounts required by Section 3.02(B)(ii)(b), Section 3.02(B)(iv), and Section 3.05(B) hereof to be deposited therein. Notwithstanding the foregoing,20th Business Day prior to (i) the first any Special Tax Revenues collected by the City in any Fiscal Year, in an amount equal to constituting payment of the portion of such Fiscal Year’s the Special Tax levy for Administrative Expenses (but not to exceed, in any Fiscal Year, the Minimum Administrative Expense Requirement), shall be deposited separately identified by the Finance Director of Finance in an Officer’s Certificate provided to the Fiscal Agent and shall, upon receipt by the Fiscal Agent and deposit into the Special Tax Fund, be transferred to the Administrative Expense Fund; (ii) any Special Tax Revenues constituting the collection of delinquencies in payment of Special Taxes shall be separately identified by the Finance Director of Finance in an Officer’s Certificate provided to the Fiscal Agent and shall be disposed of by the Director of Finance City as follows: (a) first, for transfer to the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer by the Fiscal Agent in to the Bond Fund to pay any past due debt service on the Bonds; second ; (b) second, for transfer to the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer by the Fiscal Agent in to the Grant Amounts Account of the Reserve Fund to replenish any amounts expended from the Grant Amounts Account to pay debt service on the Bonds; (c) third, for transfer to the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer to the Bond Proceeds Account of the Reserve Fund the extent needed to increase the amount then on deposit in the Reserve Fund up to the then then-applicable Reserve Requirement; and thirdRequirement ; (d) fourth, for transfer to be held in the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer to the Administrative Expense Fund for the purpose of (1) funding any shortfall of amounts in the Administrative Expenses Fund to pay Administrative Expenses and (2) reimbursing the City for use as described in Section 3.04(B) belowof any funds from the Administrative Expense Fund to pay debt service on the Bonds or to replenish the Reserve Fund; and (e) fifth, for transfer to the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer to the Bond Fund; (iii) any proceeds of the prepayment of Special Tax Prepayments Taxes shall be separately identified by the Finance Director of Finance in an Officer’s Certificate and shall be remitted disposed of by the City as follows: (a) first, the portion of such proceeds constituting payment of the portion of the Special Tax levy for Administrative Expenses shall be separately identified by the Finance Director of Finance and shall be transferred by the City to the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer to the Administrative Expense Fund; and (b) second, the remaining portion of such proceeds, constituting “Special Tax Prepayments” as defined in this Agreement, shall be transferred by the City to the Fiscal Agent for deposit into the Special Tax Fund and immediate transfer to the Special Tax Prepayments Account established pursuant to Section 4.04(A); and (iv) any Special Tax Revenues constituting payment of a Special Tax that was levied to redeem “non-asset bonds” as a result of a failure to complete Authorized Facilities that were funded with proceeds of the Bonds shall be separately identified by the Finance Director and shall be transferred by the City to the Fiscal Agent = for deposit into the Special Tax Fund and immediate transfer by the Fiscal Agent in to the Bond Fund along with an Officer’s Certificate instructing the Fiscal Agent to use the Special Tax Prepayments Account. Moneys in Revenues to redeem Outstanding Bonds on the Special Tax Fund shall be held by the Director of Finance for the benefit of the City and the Owners of the Bonds, shall be disbursed as provided below and, pending disbursement, shall be subject to a lien in favor of the Owners of the Bondsfirst possible date.

Establishment of Special Tax Fund. There is hereby established as a separate fund to be held by the Director of FinanceAuditor, the Community Facilities District No. 20102001-1 (One MarinaXxxxxx Canyon) 2016 2013 Special Tax Refunding Bonds Bonds, Special Tax Fund, . The County shall transfer or cause to be transferred to the credit of which the City shall depositAuditor, as soon as practicable following receipt, all Special Tax Revenues received by the City County and any amounts required by Section 3.02(B)(ii)(b), Section 3.02(B)(iv), 4.01(B)(ii)(b) and Section 3.05(B4.01(B)(iv)(b) hereof to be deposited thereinto the Special Tax Fund, all which amounts shall be deposited by the Auditor to the Special Tax Fund. In addition, the Auditor shall deposit in the Special Tax Fund amounts to be transferred thereto pursuant to Section 4.06(B) hereof. Notwithstanding the foregoing, (i) the first any Special Tax Revenues collected by the City in any Fiscal Year, in an amount equal to constituting payment of the portion of such Fiscal Year’s the Special Tax levy for Administrative Expenses (but not to exceed, in any Fiscal Year, the Minimum Administrative Expense Requirement), shall be deposited by the Director of Finance Auditor in the Administrative Expense Fund; (ii) any Special Tax Revenues constituting the collection of delinquencies in payment of Special Taxes shall be separately identified transferred by the Director of Finance and shall be disposed of by the Director of Finance Auditor first, for transfer to the Fiscal Agent for deposit by the Fiscal Agent in the Bond Fund to the extent needed to pay any past due debt service on the Bonds; second for transfer second, to the Fiscal Agent for deposit by the Fiscal Agent in to the Reserve Fund to the extent needed to increase the amount then on deposit in the Reserve Fund up to the then Reserve Requirement; and third, to shall be held retained by the Auditor in the Special Tax Fund for use as described in Section 3.04(B4.05(B) below; and (iii) any proceeds of Special Tax Prepayments shall be separately identified transferred by the Director of Finance and shall be remitted by the Director of Finance Auditor to the Fiscal Agent Agent, for deposit by the Fiscal Agent in the Special Tax Prepayments AccountAccount established pursuant to Section 4.04(A). Moneys in the Special Tax Fund shall be held by the Director of Finance Auditor for the benefit of the City County and the Owners of the Bonds, shall be disbursed as provided below and, pending and disbursement, shall be subject to a lien in favor of the Owners of the BondsBonds and the County.

Establishment of Special Tax Fund. There The Special Tax Fund is hereby established as a separate fund to be held by the Director of Finance, the Community Facilities District No. 2010-1 (One Marina) 2016 Special Tax Refunding Bonds Special Tax FundFiscal Agent, to the credit of which the Fiscal Agent shall deposit amounts received from or on behalf of the City consisting of Special Tax Revenues and amounts transferred from the Administrative Expense Fund and the Bond Fund. The City shall deposit, as soon as practicable following receipt, all promptly remit Special Tax Revenues received by it, less an amount not to exceed the lesser of (a) the amount included in the Special Tax levy for such Fiscal Year for Administrative Expenses and (b) the Priority Administrative Expenses Amount for such Fiscal Year (which shall be retained by the City free of the pledge for payment of the Bonds and any amounts required used for Administrative Expenses) to the Fiscal Agent for deposit by Section 3.02(B)(ii)(b), Section 3.02(B)(iv), and Section 3.05(B) hereof the Fiscal Agent to be deposited thereinthe Special Tax Fund. Notwithstanding the foregoing, (i) the first Special Tax Revenues collected by the City in any Fiscal Year, in an amount equal to the portion of such Fiscal Year’s Special Tax levy for Administrative Expenses (but not to exceed, in any Fiscal Year, the Minimum Administrative Expense Requirement), shall be deposited by the Director of Finance in the Administrative Expense Fund; (ii) any Special Tax Revenues constituting the collection of delinquencies in payment of Special Taxes shall be separately identified by the Administrative Services Director of Finance and shall be disposed of by the Director of Finance Fiscal Agent first, for transfer to the Fiscal Agent for deposit by the Fiscal Agent in the Bond Fund to pay any past due debt service Debt Service on the 2022 Bonds; second second, for transfer to the Fiscal Agent for deposit by the Fiscal Agent in the Reserve Fund to the extent needed to increase the amount then on deposit in the Reserve Fund up to the then Reserve Requirement; and third, to be held in the Special Tax Fund for use as described in Section 3.04(B4.05(B) below; and (iiiii) any proceeds of Special Tax Prepayments shall be separately identified by the Administrative Services Director of Finance and shall be remitted deposited by the Director of Finance to the Fiscal Agent for deposit as follows (as directed in writing by the Administrative Services Director): (a) that portion of any Special Tax Prepayment constituting a prepayment of costs of the Project shall be deposited by the Fiscal Agent to the Special Tax Proceeds Subaccount of the Improvement Fund, and (b) the remaining Special Tax Prepayment shall be deposited by the Fiscal Agent in the Special Tax Prepayments AccountAccount established pursuant to Section 4.04(A). Moneys in the Special Tax Fund shall be held by the Director of Finance Fiscal Agent for the benefit of the City and the Owners of the 2022 Bonds, shall be disbursed as provided below and, pending disbursement, shall be subject to a lien in favor of the Owners of the 2022 Bonds.