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AgdaPkt 2020-11-23 Joint SA PFA
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AgdaPkt 2020-11-23 Joint SA PFA
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Last modified
12/3/2020 5:27:49 PM
Creation date
11/19/2020 6:20:52 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
11/23/2020
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7.C. - Page 44 of 54 <br />EXHIBIT "A" <br />CANVASS AND STATEMENT OF RESULT OF ELECTION <br />CITY OF REDWOOD CITY <br />Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) <br />I hereby certify that on November 23, 2020, 1 canvassed the returns of the election held <br />on November 23, 2020, in the City of Redwood City Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) (the "CFD"), and the total number of ballots cast in the CFD and <br />the total number of votes cast for and against the measure are as follows and the totals as <br />shown for and against the measure are full, true and correct: <br />Qualified <br />Landowner Votes <br />Votes Cast YES NO <br />City of Redwood City <br />Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza) <br />Special Tax Election, November 23, 2020 77 <br />BALLOT MEASURE: Shall the following measure be adopted: <br />authorizing the City of Redwood City ("City") to (i) levy special <br />taxes solely on lands within City of Redwood City Community <br />Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza) <br />("CFD") in accordance with the rate and method contained in the <br />City Council resolution establishing the CFD <br />("Formation Resolution"), to pay for the public facilities and public <br />services specified in the Formation Resolution and to pay the <br />costs of the City in administering the CFD, which services special <br />taxes are expected to be levied in perpetuity and at the estimated <br />rate of $0.15 per taxable building square foot starting in fiscal year <br />2021-22 for Seaport Centre wet utility maintenance (assuming an <br />annual budget of $150,000) and at the estimated rate of $0.085 <br />per taxable building square foot starting in fiscal year 2023-24 for <br />levee maintenance (assuming an annual budget of $100,000), in <br />each case with annual escalation thereafter, and which facilities <br />special taxes are expected to be levied over a period of 16 years <br />and at a variable rate per taxable building square foot (estimated <br />to be $1.01 per taxable building square foot starting in fiscal year <br />2023-24) that is expected to raise an amount sufficient to pay the <br />purchase price of levee improvements in annual installments, <br />such purchase price, estimated to be $11,500,000, to be fully <br />amortized over 15 years, plus interest at a rate that changes <br />annually based on the Wall Street Journal prime rate as published <br />each June 1, plus 200 basis points; (ii) establish an annual <br />ATTY/RESO.0134/CC RESO DECLARING RESULTS OF SPECIAL ELECTIONS IN RWC CFD SEAPORT <br />REV: 11-13-2020 MI <br />Page 3 of 4 <br />.1. <br />
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