RES 264 Draft 01 2012-2014 - Laserfiche WebLink

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of SFEs represented by such assessment unit. For purposes of the foregoing, SFEs shall be determined in the manner provided in the Director's Report based on each assessment unit's existing land use as of the Commencement Date; provided that if an assessment unit is vacant, the SFE for that assessment unit shall be based on existing zoning. iii. Preliminary Assessment Roll. Attached as Exhibit F to the Director's Report and incorporated by this reference is the preliminary assessment roll for the Improvement District (the "Preliminary Assessment Roll") based on information obtained from the Real Property Tax Division of the Department of Finance. The Preliminary Assessment Roll identifies the existing assessment units by tax map key number and property owner, and specifies the number of SFEs and estimated assessment amount for each assessment unit. iv. Minimum Number of Assessments. The minimum number of assessments shall be fi ve (5) annual, or sixty (60) monthly installments of principal. e. Maximum Term. The maximum term of the bonds to be issued to represent unpaid installments (the "Bonds") shall be as the Director of Finance shall determine in the Director of Finance's reasonable judgment; how ever, such term shall not exceed thirty-five years (35) years following the date of issuance thereof. f. Maximum Rate of Interest. The rate of interest to be borne by the Bonds shall be as the Director of Finance shall determine in the Director of Finance's reasonable discretion; provided, however, that such interest shall not exceed two and one eighth percent (2.125%). g. Maximum Premium. The premium to be paid on the advance payment of installments or the call and redemption of any Bond prior to its maturity shall be as the Director of Finance shall determine in the Director of Finance's reasonable judgment; provided, however, that such premium shall not exceed three percent (3%). 5