AgdaPkt 2000-04-24 - Laserfiche WebLink

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� . � � �-1 � � � �� °�� z; �� �� . � p ' �. ��; �� . ��# n� �� :- To the: Honorable Mayor��nd Cit�� Cou�ci� � �� �� � . F�ram :th��it� N�anage�=� �. � April 24, 2000 5ubject . To take actions necessary to create a special financing district for public infrastructure improvements incidental to the Pacific Shores Center Project and to allow for the sale of bonds pursuant to the Mello-Roos Community Facilities �Act of 1982, as amended. Recommendation That the Council adopt: 1. Resolution of Formation of Community Facilities District and to Levy a Special Tax in City of Redwood City Community Facilities District No. 2000-1 (Pacific Shores Project), 2. Resolution Deeming It Necessary to Incur Bonded Indebtedness in City of Redwood City Community Facilities District No. 2000-1 (Pacific Shores Project), 3. Resolution Calling Special Election in City of Redwood City Community Facilities District No. 2000-1 (Pacific Shores Project), and 4. Resolution Declaring Election Resutts of City of Redwood City Community Facilities _ District No. 2000-1 (Pacific Shores Project). Background This is the third of several meetings at which we will request actions by the City Council in connection with the financing of public inftastructure for the Pacific Shores Center Project. The Council previously approved a deposit agreement with the Pacific Shores Center developer and adopted a resolution stating its intention to create a community facilities district and calling for a public hearing on this matter. Tonight's Actions � The first action will be to hold the public hearing regarding the formation of the district. The Council will then consider adoption of the resolutions necessary for the formation of the district and will for a Special Election. A ballot has previously been provided to the single landowner within the district, the representatives of which have previously indicated their approval. The City Clerk will open the ballot and announce the results of the election. The Council will then adopt the Resolution Declaring Efection Results. Future Actions If, as is expected, the property owner votes in the affirmative, staff will retum to the Council in several weeks with resolutions approving various actions that must be taken by the Council in connection with the sale of bonds. Bonds will subsequently be sold with no further action required by the Council. After bonds are sold, the Council will be required . annually to adopt a resolution approving the levy of special taxes to pay debt service and administrative expenses of the District. , � _ . _ _..._._. _. .�... _ ,