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below. At least quarterly after the First Bond Sale, the CFD Administrator shall review <br />all new Building Permits, Final Plat Maps, condominium plans, and any other project <br />information that has changed from the prior quarter. In addition, the CFD Administrator <br />shall, on an ongoing basis, review all Land Use Changes. With each review, the CFD <br />Administrator shall compare the revised land uses to the Expected Land Uses to <br />evaluate the impact on the Expected Maximum Special Tax Revenues. Prior to the First <br />Bond Sale and issuance of any subsequent series of Bonds, and together with the CFD <br />Administrator's review on at least a quarterly basis, the owners of all TMK Parcels for <br />which Building Permits have yet to be issued shall provide the CFD Administrator with <br />a written confirmation of the Expected Land Uses on each TMK Parcel. <br />C. MAXIMUM SPECIAL TAX <br />1. Tax Zone 1 <br />a. Developed Property <br />The Maximum Special Tax that may be levied in any Fiscal Year on each <br />TMK Parcel in Tax Zone I classified as Developed Property shall be the <br />greater of (i) the amount derived by application of the Assigned Special <br />Tax or (ii) the amount derived by application of the Backup Special Tax. <br />1) Assigned Special Tax <br />The Assigned Special Tax that may be levied in any Fiscal Year <br />for each Land Use Class is shown in Table I on the following <br />page. <br />Hawai'i County CFD No. 1-2021 8 June 23, 2021 <br />