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Section 53531 of the Act, or any other applicable provision of law limiting the maximum interest rate on the bonds. SECTION 7. Pursuant to Section 53351 of the Act, a special election is hereby called for the District on the proposition of incurring the bonded indebtedness. The proposition relative to incurring bonded indebtedness in the maximum aggregate principal amount of $13,535,000 shall be combined with the proposition authorizing the levy of the special tax within the District and with the proposition establishing an appropriations limit for the District into one ballot proposition pursuant to Section 53353.5 of the Act. The combined proposition shall be in the form of Proposition A included on Exhibit A attached hereto, with such additions thereto or changes therein as the City Clerk, with the advice of the City Attorney, may require or approve, such approval to be conclusively evidenced by the mailing thereof to the landowners eligible to vote on the proposition. SECTION 8. The date of the special election for the District on the proposition of incurring the bonded indebtedness, authorizing the levy of the special tax, and establishing an appropriations limit for the District shall be July 30, 1999; provided, however, if this resolution shall not have become effective pursuant to Section 9 hereof by April 30, 1999, then the date of the special election shall be the first day that is at least 90 days following the effective date of this resolution and on which the office of the City Clerk is open. The election shall be conducted by the City Clerk and, except as otherwise provided by the Act, the election shall be conducted in accordance with the provisions of law regulating elections of the City of Redwood City insofar as such provisions are determined by the City Clerk to be applicable. It is hereby found that fewer than 12 persons have been registered to vote within the territory of the District for each of the 90 days preceding the close of the April 26, 1999 heating on the formation of the District. Pursuant to Section 53326(b) of the Act, the vote shall be by the landowners of the District and each person who is the owner of record as of the close of the April 26, 1999 hearing regarding the formation of the District, or the authorized representative thereof, shall have one vote for each acre or portion of an acre of land that he or she owns within the District. The number of votes to be voted by each particular landowner shall be specified on the ballot provided to that landowner. The ballots for the special election shall be distributed to qualified electors by mail with return postage prepaid or by personal service by the City Clerk. The voted ballots shall be returned to the City Clerk not later than 4:00 p.m. on the date of the special election; provided, however, that the election shall be closed at such earlier time as all qualified electors have voted as provided in Section 53326(d) of the Act. SECTION 9. This resolution shall be effective at such time as the Belmont Agreement (as defined in the Resolution of Formation) shall have been executed and delivered by the City Manager of the City and by an authorized representative of the City of Belmont. 13610 15288.5X22931.0003 3