AgdaPkt 2020-10-26 Joint SA PFA - Laserfiche WebLink

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7.A. - Page 160 of 176 PETITION TO CREATE A COMMUNITY FACILITIES DISTRICT AND OTHER RELATED MATTERS (Including Waiver) O G' "D 2020 City Council of the City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Members of the Council: Attachment F This is a petition to create a community facilities district and related matters (the "Petition") submitted pursuant to the City of Redwood City's Special Tax Financing Law (Chapter 32, Article XIII of the Redwood City Municipal Code) (the "CFD Law") which incorporates the Mello -Roos Community Facilities Act of 1982 (Sections 53311 and following of the California Government Code) (the "Mello -Roos Act"). 1. Petitioners. This Petition is submitted pursuant to the CFD Law to the City of Redwood City (the "City") by the persons identified below as or for the owner (the "Property Owner") of the fee simple interest in the parcels of land identified by the Assessor Parcel Numbers listed in Exhibit B attached hereto and incorporated herein by reference (the "Property"). The undersigned warrant to the City with respect to the Property that they are authorized to execute this Petition and that the submission of this Petition and participation in the City's proceedings under the CFD Law will not constitute a violation or event of default under any existing financing arrangement in any way affecting the Property Owner and such Property, including any "due -on - encumbrance" clauses under any existing deeds of trust secured by the Property. 2. Request to Institute Proceedings. The City Council of the City is hereby requested to undertake the following proceedings under the CFD Law: (a) To create a community facilities district to be designated "City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza)" (the "CFD"). (b) To levy special taxes in the CFD pursuant to a Rate and Method of Apportionment of Special Tax (the "Rate and Method") prepared by the City, subject to the two-thirds vote of the qualified electors in the boundaries of the CFD as a condition precedent to the levy of such special tax. The Property Owner and its counsel have reviewed and had the opportunity to comment on the Rate and Method prepared by the City, and the Property Owner acknowledges and agrees that the Rate and Method meets the requirements of the CFD Law, including, but not limited to, those provisions related to establishing and escalating the maximum special taxes. (c) To authorize the issuance of bonded indebtedness and other debt for the CFD in an amount not to exceed $25,000,000, as determined during the formation proceedings. 342