*Year =
1 Year of the Life of the 1% Local
Government Infrastructure Sales Surtax
Levy, which is a calendar year.
** During
Year 7, a projection update of
net revenues shall be prepared
by Seminole County and provided
to the School Board for review.
As part of the projection update,
the percentages for Years 8 through
10 will be recalculated so as to
yield a projected distribution
to the School Board at the end
of the 10 years of 25% of the overall
net revenues.
A
similar projection update shall
be prepared and reviewed during
Year 9, including a recalculation
of the final year's percentage
which would be used for the first
11 months of Year 10. The last
monthly distribution of Year 10
shall be adjusted as necessary
to yield a final distribution to
the School Board at the end of
the 10 Years of 25% of the overall
net revenues. |
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