Laserfiche WebLink
Trustee in connection with PID Bonds, including their respective legal counsel. Annual Collection <br />Costs collected but not expended in any year shall be carried forward and applied to reduce <br />Annual Collection Costs for subsequent years. <br />"Annual Installment" means the annual installment payment of an Assessment as calculated by <br />the Administrator and approved by the City Council, that includes: (1) principal; (2) interest; (3) <br />Annual Collection Costs; and (4) Additional Interest related to the PID Bonds, if applicable. <br />"Annual Serv*lce Plan Update" means an update to this Service and Assessment Plan prepared <br />no less frequently than annually by the Administrator and approved by the City Council. <br />"Apportioned Property" means any Parcel within the District against which the costs of the <br />Authorized Improvements are apportioned based on special conferred benefit and against which <br />an Assessment is anticipated to be levied, but not yet levied. <br />"'Apportionment of Costs" means an amount allocated by this Service and Assessment Plan to a <br />Parcel within the District for future Authorized Improvement costs., other than Non -Benefitted <br />Property, subject to a future levy of Assessments by the City and also subject to reallocation upon <br />the subdivision of such Parcel or reduction according to the provisions herein and in the PID Act. <br />"Assessed Property" means any Parcel within the District against which an Assessment is levied. <br />0 <br />"Assessment" means an assessment levied against Assessed Property to pay costs of certain <br />Authorized Improvements as speed herein, which Assessment is imposed pursuant to an <br />Assessment Ordinance and the provisions herein, as shown on an Assessment Roll, and is subject <br />to reallocation upon the subdivision of such Assessed Property or reduction according to the <br />provisions herein and in the PID Act. <br />"Assessment Ordinance" means an ordinance adopted by the City Council in accordance with <br />the PID Act that levies an Assessment on the Assessed Property., as shown on any Assessment <br />Roll. <br />"Assessment Plan" means the methodology employed to assess the Actual Costs of the <br />Authorized Improvements against the Assessed Property based on the special benefits conferred <br />on such property by the Authorized Improvements,. more specifically set forth and described in <br />"Assessment Roll" means any assessment roll for the Assessed Property, Including the <br />Improvement Area #1 Assessment Roll, as updated, modified or amended from time to time in <br />accordance with the procedures set forth herein and in the PID Act., including updates prepared <br />in connection with the issuance of PID Bonds or in any Annual Service Plan Updates. <br />FORESTBROOK PUBLIC IMPROVEMENT DISTRICT 4 <br />SERVICE AND ASSESSMENT PLAN <br />