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SATMD Management District Plan 27 <br />February 27, 2025 <br />(a) Upon the disestablishment or expiration without renewal of a district, any remaining revenues, after all <br />outstanding debts are paid, derived from the levy of assessments, or derived from the sale of assets acquired <br />with the revenues, or from bond reserve or construction funds, shall be refunded to the owners of the <br />property or businesses then located and operating within the district in which assessments were levied by <br />applying the same method and basis that was used to calculate the assessments levied in the fiscal year in <br />which the district is disestablished or expires. All outstanding assessment revenue collected after <br />disestablishment shall be spent on improvements and activities specified in the management district plan. <br />(b) If the disestablishment occurs before an assessment is levied for the fiscal year, the method and basis <br />that was used to calculate the assessments levied in the immediate prior fiscal year shall be used to <br />calculate the amount of any refund. <br /> <br /> <br /> <br /> <br />EXHIBIT 2