Res99 13590 - Laserfiche WebLink

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(b) if the capital facilities to be financed and constructed by Redwood Shores Community Facilities District No. 99-1 will provide the same services as were provided by the capital facilities mentioned in subsection (a); and (c) if the Council of Redwood City makes the findings specified in subsections (a) and (b) above, it will consider appropriate action to determine that the total annual amount of ad valorem property tax revenue due from parcels within Redwood Shores Community Facilities District No. 99-1, for purposes of paying principal and interest on the debt identified in subsection (a) above, shall not be increased after the date on which Redwood Shores Community Facilities District No. 99-1 is created, or after a later date determined by the Council of Redwood City with the concurrence of the legislative body which levied the property tax in question. 8. At the time and place set forth above for the Hearing, any interested person, including all persons owning lands or registered to vote within proposed Redwood Shores Community Facilities District No. 99-1, may appear and be heard. 9. Each City officer who is or will be responsible for providing the Facilities within proposed Redwood Shores Community Facilities District No. 99-1, if it is established, is hereby directed to study the proposed District and, at or before the time of the above-mentioned Hearing, file a report with the Council of Redwood City containing a brief description of the public facilities by type which will in his or her opinion be required to meet adequately the needs of Redwood Shores Community Facilities District No. 99-1 and an estimate of the cost of providing those public facilities, including the cost of environmental evaluations of such facilities and an estimate of the fair and reasonable cost of any Incidental Expenses to be incurred. 10. The City may accept advances of funds or work-in-kind from any source, including, but not limited to, private persons or private entities, for any authorized purpose, including, but not limited to, paying any cost incurred by the City in creating Redwood Shores Community Facilities District No. 99-1. The City may enter into an agreement with the person or entity advancing the funds or work-in-kind, to repay all or a portion of the funds advanced, or to reimburse the person or entity for the value, or cost, whichever is less, of the work-in-kind, as determined by the Council of Redwood City, with or without interest. 11. The City Clerk is hereby directed to publish a notice (the "Notice") of the Hearing pursuant to Section 6061 of the Government Code in a newspaper of general circulation published in the area of proposed Redwood Shores Community Facilities District No. 99-1. The City Clerk is further directed to mail a copy of the Notice to each of the landowners within the boundaries of the District at least 15 days prior to the Hearing. The Notice shall contain the text or a summary of this Resolution, the time and place of the Hearing, a statement that the testimony of all interested persons or taxpayers will be heard, a description of the protest rights of the registered voters and landowners in the proposed district and a description of the proposed voting procedure for the election required by the Act. Such publication shall be completed at least seven (7) days prior to the date of the Hearing. 12. The reasonably expected maximum principal amount of the Obligations is thirteen million five hundred forty-five thousand dollars ($15,325,000). 4671.3~22931.0003 -4- 13§ 90