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8.B.- Page 5of5 <br />than Belmont, is affected, and the City's Allocable Share of debt service is increased to <br />a percentage not in excess of 53.5%; and <br />NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Redwood <br />City, California, hereby approves as follows: <br />Section 1. Revised Allocable Share of Debt Service. The City Manager or <br />the Administrative Services Director are each hereby authorized and directed to insert a <br />percentage not -to -exceed 53.5% as the City's final Allocable Share (as defined in the <br />Amendment to Financing Agreement) of debt service in the Amendment to Financing <br />Agreement previously approved by a resolution adopted on May 20, 2019 by the City <br />Council. <br />Section 2. Effective Date. This Resolution shall take effect immediately upon <br />its passage and adoption. <br />ATTY/RESO.0069/CC RESO AUTHORIZING A REVISION OF THE CITY'S ALLOCABLE SHARE OF DEBT IN CONNECTION WITH SVCW <br />REV: 06-17-19 VR <br />Page 2 of 2 <br />757 <br />