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11/23/2020 RESOLUTION NO. 15916 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY DETERMINING NECESSITY TO INCUR BONDED INDEBTEDNESS AND OTHER DEBT PAYABLE FROM SPECIAL TAXES LEVIED IN CITY OF REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2020-1 (SEAPORT CENTRE/SEAPORT PLAZA), AND APPROVING RELATED DOCUMENTS AND ACTIONS WHEREAS, under City of Redwood City's (the "City") 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, as amended (the "Act"), this City Council (the "City Council") is authorized to establish a community facilities district and to act as the legislative body for a community facilities district; and WHEREAS, on October 26, 2020, this City Council adopted a resolution entitled "A Resolution of the City Council of the City of Redwood City Declaring its Intention to Establish City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza), and Approving Related Documents and Actions" (the "Resolution of Intention to Establish"), stating its intention to form "City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza)" (the "CFD"), pursuant to the CFD Law; and WHEREAS, on October 26, 2020, this City Council also adopted a resolution entitled "A Resolution of the City Council of the City of Redwood City Declaring its Intention to Incur Bonded Indebtedness and Other Debt Payable from Special Taxes Levied in City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza)" (the "Resolution of Intention to Incur Indebtedness") stating its intention to incur bonded indebtedness and other debt (as defined in the Act) within the boundaries of the CFD for the purpose of financing the costs of acquiring and constructing certain facilities specified in the Resolution of Intention to Establish (the "Facilities"); and WHEREAS, this City Council has held a noticed public hearing as required by the CFD Law about the determination to proceed with the formation of the CFD, the provision of the list of Facilities and public services described in the Resolution of Intention to Establish (the "Services") to be financed by the CFD, and the rate and method of apportionment of the special taxes to be levied within the CFD to pay costs of Facilities, the costs of Services, the principal and interest on the proposed bonded indebtedness and other debt (as defined in the Act) in the CFD and the administrative costs of the City relative to the CFD; and WHEREAS, subsequent to the public hearing, this City Council adopted a resolution entitled "A Resolution of the City Council of the City of Redwood City Forming City of Redwood Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza), and Approving Related Documents and Actions" (the "Resolution of Formation"); and WHEREAS, this City Council has also held a noticed public hearing as required by the CFD Law relative to the matters material to the questions set forth in the Resolution of Intention to Incur Indebtedness; and WHEREAS, no written protests with respect to the matters material to the questions set forth in the Resolution of Intention to Incur Indebtedness have been filed with the City Clerk. ATTY/RESO.0132/CC RESO DETERMINING NECESSITY TO INCUR BONDED INDEBTNESS FROM SPECIALTAX—SEAPORT RESO. NO. 15916 REV: 11-13-2020 MI MUFF NO. 506 Page 1 of 2