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12/03/2012 History of the District Pursuant to the Act, the City Council of the City, acting in the capacity as the legislative body of the District, adopted Resolution. No. 13590 on March 22, 1999, stating its intention to establish the District and to levy the Special Tax within the District. Attached as Appendix G is the current boundary reap of the District. On April 26, 1999, the City Council, acting as the legislative body of the District, adopted resolutions forming the District and authorizing a special election with respect to the incurrence of indebtedness in a principal amount of $13,535,000 and the levy of the Special Tax. Subsequently, the then -owners of the land in the District, as the qualified electors for the District, approved the ballot propositions at an election held on July 30, 1999. On August 18, 1999, the City recorded, in the Official Records of the County Recorder for the County of San Mateo, a Notice of Special Tax Lien as required by Section 53328.3 of the California Government Code. On August 23, 1999, the City Council, acting as the legislative body of the District, adopted Ordinance No. 2180 authorizing the levy of a special tax within the District. The District was formed to provide a method of funding projects that were identified in the Shores Transportation Improvement District Final Report -- Phase I and Final Report — Phase II, which were prepared to identify solutions for the traffic congestion problems that were occurring in the area. The Improvements involved the construction of improvements to several intersections in and around the commercial area of Redwood Shores and the reconfiguration of the Marina Parkway/Ralston Avenue U.S. 101 interchange to a partial cloverleaf design. The Improvements included the construction, purchase, modification, expansion, improvement or rehabilitation of sanitary sewers, streets, storm drainage facilities, utilities, parks, landscaping, and other infrastructure improvements and relocations, including traffic and signalization and improvements to street intersections and freeway interchanges, for the following projects: 1. the Marine Parkway intersection at or near Twin Dolphin Parkway; 2. the Marine Parkway intersection at or near Bridge Parkway; 3. the Redwood Shores Parkway intersection at or near Bridge Parkway; 4. the Marine Parkway intersection at or near Oracle West/Shoreway Road; 5. the Ralston Avenue intersection at or near Hiller Street; 6. the northbound U.S. 101 on-ramp at the Marine Parkway/Ralston Avenue interchange; 7. the HOV bypass lanes at the northbound U.S. 101 on-ramp at the Ralston Avenue interchange; and S. the reconfiguration of the U.S. 101 /Marine Parkway /Ralston Avenue interchange to a partial cloverleaf design. On January 17, 2001, the District issued the Series 2001A Bonds in an initial principal amount of $5,045,000, and on August 12, 2003, the District issued the Series 2003B Bonds in an initial principal amount of $7,505,000. The net proceeds of the Prior Bonds, $10,712,216.25+, were deposited to an Improvement Fund established under the Prior Fiscal Agent Agreernent and were used to pay costs of the Improvements. The net proceeds of the Series 2001A Bonds were used to finance a portion of the Improvements (the "Phase I Facilities"), which included the first three projects listed above, and to finance the costs of forming the District and a pro rata share of certain other incidental expenses related to those Improvements. Phase I Facilities included various intersection and street widening improvements designed to improve traffic circulation at peak commute hours. The net proceeds of the Series 2003B Bonds were used to finance a portion of the Improvements designated the "Phase II Facilities," which included improvements to the U.S. Highway 101 Ralston Avenue/Marine Parkway freeway interchange. The Improvements were -21- 29 REM # 15237 MUFF ## 505