2024-102 Resolution - Laserfiche WebLink

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Administrative services related to the Special Assessments are associated with the annual determination of the Special Assessments to be collected from the subject properties of the Advanced Energy District, management of bond funds and accounts relating to Special Assessments, and providing public information. These services will be provided pursuant to a Cooperative Agreement ("Cooperative Agreement") to be executed between each of the participating political subdivisions, the issuer of the special assessment revenue bonds and the District. These bond administration services may also be included as part of a separate Administration Agreement and paid from assessment payments as provided in the Indenture securing Bonds. If so, no separate special assessment for administration services for Bonds will be included as part of the Services Plan, but rather will be included as part of the separate Administration Agreement. Services include: A. Calculate the Reduction of the Special Assessments for the Following Year This task involves calculating the amount of the reduction of the Special Assessments to be collected in the following year by each participating political subdivision and includes the following sub -tasks: (1) Determine Annual Bond Payments: Identify expenses of the special assessment revenue bonds or other obligations secured by the Special Assessments (collectively, "Obligations"), including annual debt service charges, administrative expenses, and other expenses as provided for in the trust agreement securing he Obligations. This determination shall be made using the definitions of "Annual Bond Payments" and other relevant defined terms and including any contingencies permitted by the trust agreement as the same may appear in the trust agreement securing the Obligations, a copy of which will be provided to the District at the closing of the Obligations. (2) Determine Annual Available Amounts: Prepare reconciliation, on dates as may be required, to determine value of amounts held in funds established under the trust agreement, interest earnings, and other credits which may be applied to pay debt service and other expenses under the trust agreement This determination shall be made using the definitions of "Annual Available Amounts" and related definitions under the trust agreement. (3) Calculate the Annual Required Assessments: Based on the estimates of annual expenses and assets of Obligations incurred to pay costs of special energy improvement projects, including annual debt service charges, administrative expenses and other expenses as provided for in the Plan, the Petition and documents securing the Obligations, including any contingency required by any trust agreement securing the Obligations, the District shall calculate the Annual Required Assessments to be collected in the following year through the imposition of the Special Assessments that will be collected by the applicable participating political subdivision levying the Special Assessments. This determination shall be made using the definitions of "Annual Bond Payments," "Annual Available Amounts," "Annual Required Assessments" and related definitions under the trust agreement securing the Obligations.