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"Special Tax" means a special tax levied in any Fiscal Year to pay the Tax Zone I Special Tax Requirement or Tax Zone 2 Special Tax Requirement. "Square Footage" or "Sq. Ft." means the floor area square footage reflected on the original construction Building Permit, or as set forth in other official records maintained by the County's Building Division or other appropriate means selected by the CFD Administrator, issued for construction of Residential Property or Non -Residential Property, plus any square footage subsequently added to a building of Non -Residential Property after issuance of a Building Permit for expansion or renovation of such building. "Taxable Property" means all of the TMK Parcels within the boundaries of CFD No. I- 2021 that are not exempt from the Special Tax pursuant to law or Section F below. "Taxable Property Owner Association Property" means, for each Fiscal Year, all TMK Parcels of Property Owner Association Property that are not exempt from the Special Tax pursuant to law or Section F below. "Tax Map" means an official map of the County designating parcels by Tax Map Key. "Tax Map Key" or "TMK" means a unique number that is assigned by the County to identify each lot or parcel or condominium within the County's boundaries. "Tax Map Key Parcel" or "TMK Parcel" means a lot or parcel shown on a Tax Map with an assigned TMK. "Tax Zone" means a mutually exclusive geographic area, within which particular Special Tax rates may be levied pursuant to this RMA. Attachment I identifies the two Tax Zones in CFD No. 1-2021. "Tax Zone V means the geographic area that was identified at CFD Formation by TMK Parcels 3-7-3-009-057, 3-7-3-009-058, 3-7-3-009-059, 3-7-3-009-060, 3-7-3-009-061, 3- 7-3-009-062, 3-7-3-009-070, and 3-7-3-009-071, is designated in Attachment I of this RMA as Tax Zone 1, and is commonly referred to as Kaloko Heights Phase 1. "Tax Zone 1 Special Tax Requirement" means the sum of the amounts necessary in any Fiscal Year to: (i) pay Administrative Expenses up to $50,000, which amount shall escalate at a rate of two percent (2.0%) per year beginning in Fiscal Year 2022-23; (ii) pay principal and interest on Bonds which are due in the calendar year that begins in such Fiscal Year; (iii) create and/or replenish reserve funds for the Bonds; (iv) cure any delinquencies in the payment of principal or interest on Bonds which have occurred in prior Fiscal Years or (based on existing delinquencies in the payment of Special Taxes) are expected to occur in the Fiscal Year in which the tax will be collected; (v) pay all remaining Administrative Expenses in excess of the amount determined in (i) above; and (vi) pay the costs of Authorized Improvements provided that Special Taxes shall not be collected from Taxable Property Owner Association Property for this purpose. The Hawaii County CFD No. 1-2021 6 June 23, 2021