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11/23/2020 NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY AS FOLLOWS: Section 1. Recitals Correct. The foregoing recitals are true and correct. Section 2. No Majority Protest. The proposed special taxes to be levied within the CFD (the "Special Taxes") have not been precluded by majority protest pursuant to section 53324 of the Act. Section 3. Prior Proceedings Valid. All prior proceedings taken by this City Council in connection with the establishment of the CFD and the levy of the Special Taxes have been duly considered and are hereby found and determined to be valid and in conformity with the CFD Law. Section 4. Name of CFD. The City Council hereby establishes pursuant to the CFD Law the community facilities district designated "City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza)". Section 5. Boundaries of CFD. The boundaries of the CFD, as set forth in the map of the CFD heretofore recorded in the office of the San Mateo County Recorder on November 12, 2020, at 12:44 p.m. in Book 18 of Maps of Assessment and Community Facilities Districts at Page 69, as Document No. 2020-900141 are hereby approved, are incorporated herein by reference and shall be the boundaries of the CFD. Section 6. Description of Facilities. The type of public facilities proposed to be financed by the CFD pursuant to the CFD Law shall consist of those items listed as facilities in Exhibit A hereto and by this reference incorporated herein (the "Facilities"). The type of services proposed to be financed by the CFD pursuant to the CFD Law shall consist of those items listed as services in Exhibit A hereto and by this reference incorporated herein (the "Services"). Section T. Special Taxes. a. Except to the extent that funds are otherwise available to the CFD to pay for the Facilities, the Services, and/or the principal and interest as it becomes due on bonds or other debt issued by the City for the CFD to construct and/or acquire the Facilities, the Special Taxes sufficient to pay the costs thereof, secured by recordation of a continuing lien against all non-exempt real property in the CFD, will be levied annually and collected in the same manner as ordinary ad valorem property taxes, or in such other manner as the City or its designee shall determine, including direct billing of the affected property owners. The proposed rate and method of apportionment of the Special Taxes (the "Rate and Method") among the parcels of real property within the CFD in sufficient detail to allow each landowner to estimate the maximum amount such owner will have to pay are described in Exhibit B attached hereto and hereby incorporated herein. Section 8. Increased Demands. This City Council hereby determines that the Facilities are necessary to meet the requirements imposed by the Federal Emergency Management Agency ("FEMA") in its current flood insurance rate maps for the area within the CFD, and increased demands placed upon the City as the result of anticipated future ATTY/RESO.0131/CC RESO FORMING RWC CFD SEAPORT CENTRE/PLAZA—APPROVING RELATED DOCUMENTS RESO. NO. 15915 REV: 11-13-2020 MI MUFF NO. 506 Page 2 of 22