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<br /> EXHIBIT liD" <br /> HAYS <xJ. MUD #3 <br /> The monthly surcharge shall be calculated or recalculated as of January 1, <br /> of each year in accordance with the follO'Ñing formula: <br /> Monthly Surcharge= <br /> [(Effective District Tax Rate(l)-City Tax Rate(2»(Assessed Valuation)] (3) <br /> 12 x Total Numbers of L.U.E.'s(4) <br /> (1) Sum of (a) the District tax rate in <br /> the base year, and (b) all other <br /> revenues in the base year allocable <br /> to debt retirement and computed as <br /> an ~Jivalent tax rate for the base <br /> year, (as more fully defined a-nd <br /> explained in Paragraph VI.D(4) of <br /> this Agreement) . <br /> ( 2) City Tax Rate means t.L~at tax rate <br /> levied by the City in the calendar <br /> year preceding the calendar year in <br /> which t-he surcharge is to be <br /> applied. <br /> (3) Numerator not to e.xcee(ì the annual <br /> debt service requirement for <br /> outstanding District obligations. <br /> (4) LUEs as used herein means Living <br /> Unit Equivalents calculated in the <br /> manner described in the Se~lice Plan <br /> (projected to be 996 LUEs). <br />