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administration/management, acquisition, installation, construction and/or implementation
<br />of such Public Improvements, (b) the fees paid for obtaining permits, licenses or other
<br />governmental approvals for such Public Improvements, (c) construction management fee,
<br />(d)the costs incurred by or on behalf of the Landowner for external professional costs, such
<br />
<br />as engineering, geotechnical, surveying, land planning, architectural landscapers,
<br />advertising, marketing and research studies, appraisals, legal, accounting and similar
<br />professional services, (e) all labor, bonds and materials, including equipment and fixtures,
<br />by contractors, builders and materialmen in connection with the acquisition, construction or
<br />implementation of the Public Improvements, (f) all related permitting and public approval
<br />expenses, architectural, engineering, and consulting fees, financing charges, taxes,
<br />governmental fees and charges, insurance premiums, and all payments for Annual Collection
<br />Costs after the date of a resolution authorizing such reimbursement, plus interest, if any, at
<br />the lower of (x) the interest rate authorized in the Acquisition and Reimbursement
<br />Agreement or (y) the interest rate of the PID Bonds calculated from the respective dates of
<br />the expenditures until the date of reimbursement therefore.
<br />
<br />“Additional Interest” means the 0.50% additional interest charged on Assessments
<br />pursuant to Section 372.018 of the PID Act.
<br />
<br />“Additional PID Bonds” means the bonds issued to fund Public Improvements (or a portion
<br />thereof) that were not funded with the Initial PID Bonds and are secured by Assessments
<br />levied on Assessed Property.
<br />
<br />“Additional Assessments” means the $10,925,000 of Assessment levied on all Assessed
<br />Property within the PID upon the adoption of the Assessment Ordinance approving this 2018
<br />SAP, with the consent of the Landowners and prior to the creation of any homestead within
<br />the PID.
<br />
<br />“Administrator” means an employee of the City or third party designee of the City who shall
<br />have the responsibilities provided for herein, in an Indenture relating to PID Bonds or in any
<br />other agreement approved by the City Council.
<br />“Annual Collection Costs” means the administrative, organization, maintenance and
<br />operation costs and expenses associated with, or incident to, the administration,
<br />organization, maintenance and operation of the PID, including, but not limited to, the costs
<br />of (i) legal counsel, engineers, accountants, financial advisors, investment bankers or other
<br />consultants and advisors, (ii) creating and organizing the PID and preparing the Assessment
<br />Roll, (iii) computing, levying, collecting and transmitting the Assessments or the Annual
<br />Installments thereof, (iv) maintaining the record of installments, payments and reallocations
<br />and/or cancellations of the Assessments, (v) paying and redeeming the PID Bonds, (vi)
<br />investing or depositing the Assessments or other monies, (vii) complying with the PID Act
<br />with respect to the PID Bonds, (viii) paying the paying agent/registrar’s and trustee’s fees
<br />and expenses (including the fees and expenses of its legal counsel) related to the PID Bonds,
<br />and (ix) administering the construction of the Public Improvements.
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