Laserfiche WebLink
06/18/2012 <br /> ORIGINAL <br /> RESOLUTION NO. 15197 <br /> RESOLUTION CONFIRMING AUTHORIZATION OF THE ISSUANCE OF <br /> SPECIAL TAX BONDS FOR AND ON BEHALF OF THE CITY OF <br /> REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2000-1 <br /> (PACIFIC SHORES PROJECT), AND APPROVING OTHER RELATED <br /> ACTIONS <br /> WHEREAS, the City Council of the City of Redwood City (the "City") has <br /> previously conducted proceedings under and pursuant to the Mello-Roos Community <br /> Facilities Act of 1982, as amended (the "Act"), to form the City of Redwood City <br /> Community Facilities District No. 2000-1 (Pacific Shores Project), City of Redwood City, <br /> County of San Mateo, California (the "District"), to authorize the levy of special taxes <br /> upon the land within the District, and to issue bonds secured by said special taxes for <br /> the purpose of providing moneys for the construction and acquisition of improvements <br /> within or in the vicinity of the District; and <br /> WHEREAS, the City, on behalf of the District, has previously issued its City of <br /> Redwood City Community Facilities District No. 2000-1 (Pacific Shores Project) Special <br /> Tax Bonds, Series 2000A, in the original principal amount of $21,000,000, of which <br /> $8,655,000 remains outstanding (the "Prior Bonds"); and <br /> WHEREAS, pursuant to Resolution No. 15163, adopted January 9, 2012 (the <br /> "Resolution of Issuance"), the City Council has previously determined that it would be <br /> advantageous to refund the outstanding Prior Bonds, and approved the issuance of City <br /> of Redwood City Community Facilities District No. 2000-1 (Pacific Shores Project) <br /> Special Tax Refunding Bonds, Series 2012 (the "Bonds"); and <br /> WHEREAS, the issuance of the Bonds was delayed due to the sale of certain <br /> property in the District and the restructuring by one of the property owners of certain <br /> loans on its development in the District, and the City Council now desires to confirm its <br /> approval of the issuance of the Bonds; and <br /> WHEREAS, all conditions, things and acts required to exist, to have happened <br /> and to have been performed precedent to and in the issuance of the Bonds as <br /> contemplated by this Resolution, the Resolution of Issuance and the documents <br /> approved by the Resolution of Issuance, have happened and have been performed in <br /> due time, form and manner as required by the laws of the State of California, including <br /> the Act. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br /> Redwood City as follows: <br /> ATTY/RES0.2241/CONFIRM.AUTHORIZATION OF THE ISSUANCE OF SPECIAL TAX BONDS RESO. 15197 <br /> REV:O6-01-12 PT MUFF#505 <br /> Page 1 of 2 <br />