Agenda Packet 06-23 - Laserfiche WebLink

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Trustee in connection with PID Bonds, including their respective legal counsel. Annual Collecti Costs collected but not expended in any year shall be carried forward and applied to redu Annual Collection Costs for subsequent years. "Annual installment" means the annual installment payment of an Assessment as calculated the Administrator and approved by the City Council, that includes: (1) principal; (2) interest; Annual Collection Costs; and (4) Additional Interest related to the PID Bonds, if applicable. "Annual Service Plan Update" means an update to this Service and Assessment Plan prepar no less frequently than annually by the Administrator and approved by the City Council. "Apportioned Property" means any Parcel within the District against which the costs of t an Assessment is anticipated to be levied, but not yet levied. "Apportionment of Costs" means an amount allocated by this Service and Assessment Plan to Parcel within the District for future Authorized Improvement costs, other than Non-Benefitt "Assessed Property" means any Parcel within the District against which an Assessment is levie ,I hn heD a ains hichanA essmjenlevtie wit i t i trict g tw ss t Is "Assessment" means an assessment levied against Assessed Property to pay costs of certa Im Authorized Improvements as specified herein, which Assessment is imposed pursuant to Wr ;0�m-e3an-�m� to reallocation upon the subdivision of such Assessed Property or reduction accordi g to t1l provisions herein and in the PID Act. "'Assessment Ordinance" means an ordinance adopted by the City Council in accordance with the PID Act that levies an Assessment on the Assessed Property, as shown on any Assessment Roll. "Assessment Plan" means the methodology employed to assess the Actual Costs of the Authorized Improvements against the Assessed Property based on the special benefits conferred on such property by the Authorized Improvements, more specifically set forth and described in Section V. "Assessment Roll" means any assessment roll forte Assessed Property, including the Improvement Area #1 Assessment Roll, as updated, modified oramended from time to time in accordance with the procedures set forth herein and in the PID Act, including updates prepared in connection with the issuance of PID Bonds or in any Annual Service Plan Updates. 01H FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1 4 PRELIMINARY SERVICE AND ASSESSMENT PLAN