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"Fiscal Year" means the period starting July 1 and ending on the following June 30. <br /> "Final Map" means a fina] map approved by the County pursuant to the Subdivision <br /> Control Code (Hawai`i County Code Chapter 23) that creates individual lots for which <br /> building permits may be issued or, in the case of a condominium project, the condominium <br /> property regime map recorded with the declaration of condominium property regime that <br /> creates the individual condominium units for which building permits may be issued. <br /> "IA No. 1" means Improvement Area No. 1 of CFD No. 1 as identified on the boundary map <br /> For CFD No. 1. <br /> "Indenture" means the indenture, fiscal agent agreement, resolution or other instrument <br /> pursuant to which Bonds are issued, as modified, amended and/or supplemented from time <br /> to time. <br /> "Land Use Class" means any of the classes listed in Table 1. <br /> "Maximum Special Tax" means the Maximum Special Tax, determined in accordance with <br /> Section C.l.a below, that can be levied in any Fiscal Year on any TMK Parcel. <br /> "Non-Residential Property" means all TMK Parcels of Developed Property for which a <br /> building permit(s) was issued for anon-residential use, including Clubhouse Property and <br /> Commercial Village Center Property. <br /> "Non-Taxable Zone Property" means al] TMK Parcels within the boundaries of IA No. <br /> 1, which are not considered Taxable Zone Property. <br /> "Outstanding Bonds" means all Bonds which are deemed to be outstanding under the <br /> Indenture. <br /> "Property Owner Association Property" means, for each Fiscal Year, all Taxable Zone <br /> Property, other than Clubhouse Property or Commercial Village Center Property, that is <br /> owned by or irrevocably dedicated to a property owner association, including any master or <br /> sub-association. <br /> "Proportionately" means for Developed Property that the ratio of the actual Special Tax <br /> levy to the Assigned Special Tax is equal for all TMK Parcels of Developed Property. For <br /> Approved Property, "Proportionately" means that the ratio of the actual Special Tax levy to <br /> the Maximum Special Tax, is equal for all TMK Parcels of Approved Property. For <br /> Undeveloped Property, "Proportionately" means that the ratio of the actual Special Tax levy <br /> to the Maximum Special Tax, is equal for all TMK Parcels of Undeveloped Property. For <br /> Taxable Public Property and Taxable Property Owner Association Property, <br /> "Proportionately" means that the ratio of the actual Special Tax levy to the Maximum Special <br /> Tax is equal for all TMK Parcels ofTaxable Public Property and Taxable Property Owner <br /> Association Property, as applicable. For Taxable Non-Taxable Zone Property, <br /> "Proportionately" means that the ratio of the actual Special Tax levy to the Maximum Special <br /> Tax, is equal for all TMK Parcels of Taxable Non-Taxable Zone Property. <br /> County of Hawa/`i <br /> <br /> /A No. / of CFD No. / -The Villages of Aina Le'a Page 3 <br /> <br />