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other consultants engaged by the City and advisors; /3\ calculating, collecting, and maintaining <br />records with respect to Assessments and Annual Installments; /4\ preparing and maintaining <br />records with respect to Assessment Rolls and Annual Service Plan Updates; (5) paying, and <br />redeeming PID Bonds; (6) investing or depositing Assessments and Annual Installments; and (7) <br />the paying agent/registrar and Trustee in connection with PID Bonds, including their respective <br />legal counsel. Annual Collection Costo collected but not expended in any year shall be carried <br />forward and applied to reduce Annual Collection Costs for subsequent years. <br />"Annual Installment" means the annual installment payment of an Assessment as calculated by <br />the Administrator and approved by the City Council, that includes: /1\ principal; (2) interest; (3) <br />Annual Collection Costs; and (4) Additional Interest, if applicable. <br />"Annual Service Plan Update" means anupdate tothe Service and Assessment Plan prepared no <br />less frequently than annually by the Administrator and approved by the City Council, in <br />accordance with the PID Act. <br />"Assessed Property" / nneansanyPorca|xvithintheDistriotaQainsLvxhichanAssessnnentis|evied. <br />"Assessment" means the assessment levied against a Parcel, other than Non -Benefitted <br />Property, and imposed pursuant to the Assessment Ordinance and the provisions herein, as <br />shown on the Assessment Roll, subject to reallocation upon the subdivision of such Parcel or <br />reduction according tothe provisions herein and in the PID Act. <br />"Assessment Ordinance" means the ordinance adopted by the City Council in accordance with <br />the PID Act that approves the Service and Assessment Plan and levies the Assessment on <br />Assessed Property within the District, as shown on any Assessment Roll. <br />"Assessment Plan" means the methodology employed to assess the Actual Costs of the <br />Authorized Improvements against Assessed Property within the District based on the special <br />benefits conferred on such property by the Authorized Improvements, as more specifically set <br />forth and described in Section V. <br />"Assessment Roll" means the assessment roll for the Assessed Property within the District and <br />included in this Service and Assessment Plan as Exhibit F, as updated, modified, or amended from <br />time to time in accordance with the procedures set forth herein and in the PID Act including <br />updates prepared in connection with the issuance of PID Bonds or in connection with any Annual <br />Service Plan Update. <br />"Authorized Improvements" mean improvements authorized by Section 372.003 of the PID Act, <br />asmore specifically described inSection III and depicted onExhibit C. <br />WHISPER PID SAP 5 <br />