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<br />06/16/2008 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. 14871 <br /> <br />RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY <br />ACTING AS THE LEGISLATIVE BODY OF THE COMMUNITY <br />FACILITIES DISTRICT NO. 99-1 AUTHORIZING THE ANNUAL LEVY <br />OF SPECIAL TAX FOR FISCAL YEAR 2008-2009 <br /> <br />RESOLVED, by the City Council of the City of Redwood City, California (the "City <br />Council"), acting as the Legislative Body of the Community Facilities District No. 99-1 <br />(the "Legislative Body") as follows: <br /> <br />WHEREAS, the City Council has conducted proceedings under and pursuant to <br />the Mello-Roos Community Facilities Act of 1982, as amended (the "Act"), to form the <br />City of Redwood City Community Facilities District No. 99-1 (Shores Transportation <br />Improvement Project) (the "District"), to authorize the levy of special taxes upon the land <br />within the District, and to issue bonds secured by said special taxes to finance certain <br />facilities; and <br /> <br />WHEREAS, the Legislative Body has, pursuant to Ordinance No. 2180, enacted <br />on August 23, 1999 (the "Ordinance"), as authorized by section 53340 of the California <br />Government Code, authorized the levy of a special tax to pay for costs and expenses <br />related to the District, and the Legislative Body desires to establish the specific rate of <br />the special tax to be collected for the next fiscal year. <br /> <br />NOW, THEREFORE, it is hereby determined and ordered as follows: <br /> <br />1. The above recitals are all true and correct. <br /> <br />2. The specific rate and amount of the special tax to be collected to pay for costs <br />and expenses for Fiscal Year 2008-2009 for the District is hereby determined <br />and established as set forth in Exhibit A, attached hereto and incorporated by <br />reference. <br /> <br />3. The rate determined and as set forth above does not exceed the amount as <br />previously authorized by the Ordinance and is not in excess of that amount <br />previously approved by the qualified elector of the District, and is in accordance <br />with Proposition 218, Section XIIID of the California State Constitution. <br /> <br />4. That the proceeds of the special tax shall be used to pay, in whole or in part, the <br />costs of the following, in the following order of priority: <br /> <br />(a) Payment of principal of and interest on any outstanding authorized bonded <br />indebtedness; <br /> <br />A TTY/RESO/RESO.1823 <br />052208 <br /> <br />1 <br /> <br />14871 <br />MUFF #506 <br />