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

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7.A. - Page 161 of 176 3. Boundaries of CFD. The Property Owner hereby asks that the territory within the boundaries of the CFD include the Property. 4. Purpose of CFD. The CFD shall be created for the purpose of financing the facilities and the public services described in Exhibit A attached hereto and incorporated herein by reference. 5. Public Hearings; Waiver. The CFD Law provides for public hearings to be held on (i) the establishment of the CFD, the extent of the CFD, or the furnishing of specified types of public facilities or services and (ii) the proposed debt authorization for the CFD. The Mello -Roos Act requires such public hearings to be held not less than 30 or more than 60 days after the adoption of the resolutions of intention to establish the CFD and to incur debt. However, the CFD Law authorizes any procedure not expressly set forth in the CFD Law but deemed necessary or convenient by the City Council to carry out any of the purposes of the CFD Law, and the Property Owner hereby asks that the City Council. hold the public hearings as soon as possible after adoption of the resolutions of intention and, if possible, less than 30 days after adoption of the resolutions of intention. The Property Owner hereby waives the time period for holding the public hearings established by the Mello -Roos Act. 6. Elections. The Property Owner hereby asks that the special election to be held under the CFD Law to authorize the special taxes and the issuance of the bonds and other debt and to establish an appropriations limit for the CFD be consolidated into a single election and that the election be conducted by the City and its officials, using mailed or hand -delivered ballots and that such ballots be opened and canvassed and the results certified at the same meeting of the City Council at which the public hearings on the CFD under the CFD Law are held or as soon thereafter as possible. The Property Owner acknowledges that the Rate and Method will provide for the taxability of certain property currently owned by the City within the boundaries of the CFD in the event that the property is transferred or leased to a non-exempt entity and, as such, the City will constitute a qualified landowner elector for purposes of the election. 7. Election Waivers. To expedite the completion of the proceedings for the CFD, all notices of hearings and all notices of election, applicable waiting periods under the CFD Law for the election and all ballot analysis and arguments for the election are hereby waived. We also waive any requirement as to the specific form of the ballot to be used for the election, whether under the CFD Law, the California Elections Code or otherwise. 8. Seaport Maintenance District. All of the Property except Assessor's parcel number 054-320-540 is included in an existing Seaport Centre Maintenance District established by the City pursuant to Ordinance No. 1895 (codified in Article XIII of Chapter 18 of the Redwood City Code), Chapter 26 of the Improvement Act of 1911, Resolution No. 9815 adopted by the City Council on March 4, 1985 and Resolution No. 9859 adopted by the City Council on April 22, 1985. The Seaport Centre Maintenance District (the "Maintenance District") currently funds certain of the public services described in Exhibit A and has funded certain maintenance reserves (the "Maintenance District Reserves") held by the City. The Property Owner hereby requests the City Council to undertake dissolution proceedings for the Maintenance District (with the dissolution to take effect on June 30, 2021 (or such later date determined by the City Council in order to collect any delinquent assessment installments), after the CFD has been established and after the Maintenance District has provided funding for fiscal 2 343