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. . . of the CDA, payable solely from revenue received by the CDA. The bonds will not be a long-term debt of the City. The City will not pledge its full faith and credit, assets, or moral obligation in support of the debt repayment. The Developer will provide a petition and all other assurances, including financial guarantees to ensure payment of the bonds, if deemed necessary by underwriters, to create the CDA , to levy a special assessment as set forth below, to undertake the debt financing contemplated by this instrument, and to enable the debt securities to be sold to qualified investors at reasonable interest rates. 5. The City will impose a special assessment on taxable real property in the CDA in an amount sufficient to amortize the Bonds, plus costs of issuance and administrative expenses. The Developer will support the imposition of a special assessment. The CDA will apportion the special assessment between individual taxable real properties in the marmer provided by law, both initially and thereafter from year to year, as justified by the facts and applicable law. The City will collect the special assessment, as thus apportioned between properties, at the same times it collects real estate taxes on such properties until the Bonds have been retired, and it will transfer all funds thus collected either to the CDA or, if permitted by law, directly for payment of the Bonds. The City will receive an adrninistrative fee from CDA funds to cover said costs of administration. Such fee will be $5,000 during the first year, and the larger of $2,500 or actual and reasonable cost of City administrative activities related to the CDA in subsequent years. There will be an annual audit of the CDA, and the cost of doing so will be paid for through annual assessments. 6. All proceeds from the Bonds, after payment of expenses and costs of issuance, will be Draft 8B -4-