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D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX <br />Tax Zone I <br />Each Fiscal Year, beginning with Fiscal Year 2021-22, the CFD Administrator <br />shall determine the Tax Zone I Special Tax Requirement for that Fiscal Year and <br />levy the Special Tax on all TMK Parcels of Taxable Property in Tax Zone I as <br />follows: <br />Step 1: If needed to satisfy the Tax Zone I Special Tax Requirement, but <br />not accounting for Capitalized Interest, the Special Tax shall be <br />levied Proportionately on each TMK Parcel of Developed Property <br />in Tax Zone I up to 100% of the applicable Assigned Special Tax. <br />Step 2: If additional monies are needed to satisfy the Tax Zone I Special <br />Tax Requirement after Step I has been completed, and after <br />applying Capitalized Interest, then the Special Tax shall be levied <br />Proportionately on each TMK Parcel of Final Mapped Property in <br />Tax Zone I up to 100% of the Maximum Special Tax for Final <br />Mapped Property in Tax Zone 1. <br />Step 3: If additional monies are needed to satisfy the Tax Zone I Special <br />Tax Requirement after the first two steps have been completed, <br />then the Special Tax shall be levied Proportionately on each TMK <br />Parcel of Undeveloped Property in Tax Zone I up to 100% of the <br />Maximum Special Tax for Undeveloped Property in Tax Zone 1. <br />Step 4: If additional monies are needed to satisfy the Tax Zone I Special <br />Tax Requirement after the first three steps have been completed, <br />then the levy of the Special Tax on each TMK Parcel of Developed <br />Property in Tax Zone I whose Maximum Special Tax is <br />determined through the application of the Backup Special Tax <br />shall be increased Proportionately from the Assigned Special Tax <br />up to the Maximum Special Tax for each such TMK Parcel until <br />the amount levied is equal to the Tax Zone I Special Tax <br />Requirement. <br />Step 5: If additional monies are needed to satisfy the Tax Zone I Special <br />Tax Requirement after the first four steps have been completed, <br />then the Special Tax shall be levied Proportionately on each TMK <br />Parcel of Taxable Property Owner Association Property in Tax <br />Zone I up to the Maximum Special Tax for Taxable Property <br />Owner Association Property in Tax Zone 1. <br />Notwithstanding the above, under no circumstances shall the Special Tax levied <br />in any Fiscal Year on any TMK Parcel of Single Family Property or Other <br />HawaN County CFD No. 1-2021 12 June 23, 2021 <br />