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· ' " 8/23/99 OR IGINAL RESOLUTION NO. 13728 RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY, ACTING AS THE LEGISLATIVE BODY OF REDWOOD SHORES COMMUNITY FACILITIES DISTRICT NO. 99-1 (SHORES TRANSPORTATION IMPROVEMENT PROJECT) OF THE CITY OF REDWOOD CITY, APPOINTING AN UNDERWRITER IN CONNECTION WITH THE ISSUANCE OF BONDS WHEREAS, the Council of the City of Redwood City (the "Council"), acting as the legislative body of Redwood Shores Community Facilities District No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City (the "District"), has undertaken proceedings and declared the necessity to issue bonds on behalf of the District pursuant to the terms and provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California (the "Act"); and WHEREAS, pursuant to Resolutions Nos. 13610 and 13611 adopted by the Council on April 26, a proposition for (i)the levy of special taxes pursuant to the rate and method of apportionment of the special tax set forth in Resolution No. 13611, (ii) the issuance of bonds in a principal amount not to exceed $13,535,000 (the "Bonds"), and (iii) the establishment of an appropriations limit for the District was submitted to the qualified electors within the District, and was approved at an election held on July 30, 1999; and WHEREAS, based upon Resolutions Nos. 13610 and 13611 and the election, the District is now authorized to issue the Bonds in one or more series, pursuant to the Act, in an aggregate principal amount not to exceed $13,535,000; and WHEREAS, the Council desires to appoint Stone & Youngberg LLC (the "Underwriter"), San Francisco, California, as the underwriter for the public offering of the initial series of the Bonds and has determined in accordance with Government Code Section 53360.4 that a negotiated sale of the initial series of the Bonds to the Underwriter in accordance with the terms of a bond pumhase agreement to be approved by this Council at a later date will result in a lower overall cost to the District than a public sale; NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, A MUNICIPAL CORPORATION OF THE STATE OF CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF THE DISTRICT, AS FOLLOWS: 1. The above recitals are true and correct. 2. The Council hereby appoints Stone & Youngberg LLC (the "Underwriter"), San Francisco, California, as the underwriter for the initial series of the Bonds. The form of Underwriting Agreement presented at this meeting is hereby approved and the City Manager of the City, is hereby authorized and directed to execute such agreement, with such additions thereto and changes therein as such signatory may approve, such approval to be conclusively evidenced by the execution and delivery of such agreement. 17662.2k22931.0003