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11/23/2020 election. Accordingly, this City Council finds and determines that the qualified electors have been fully apprised of and have agreed to the shortened time for the election and waiver of analysis and arguments, and have thereby been fully protected in these proceedings. This City Council also finds and determines that the City Clerk has concurred in the shortened time for the election. Analysis and arguments with respect to the ballot measures are hereby waived, as provided in Section 53327 of the Act. Section 6. Accountability. Under Section 50075.1 of the Government Code, the following accountability provisions shall apply to the special taxes: (a) the provision and/or acquisition of the Facilities and the Services and the incidental costs thereof, all as defined in the Resolution of Formation, shall constitute the specific single purpose; (b) the proceeds shall be applied only to the specific purposes identified in (a) above; (c) there shall be created special account(s) or fund(s) into which the proceeds shall be deposited, and (d) there shall be caused to be prepared an annual audit and report of the CFD. Section 7. Local Bond Measure. The City Council hereby finds that the proposed issuance of bonded indebtedness and other debt constitutes a "local bond measure" within the meaning of Sections 53410, et seq. of the California Government Code. As a result, the bond measure hereby includes the propositions set forth in Exhibit A and the following: (a) the specific purpose of the bonded indebtedness and other debt is set forth in the Resolution of Formation and is set forth in the ballot measure; (b) any proceeds received from the sale of any bonded indebtedness and other debt shall be applied only to the purposes set forth in the Resolution of Formation and the ballot measure; (c) the proceeds of any bonded indebtedness and other debt shall be deposited into special accounts to be created therefor as part of the issuance of the bonded indebtedness and other debt; and (d) the City shall cause a report to be prepared annually under Section 53411 of the Government Code. Section 8. Effective Date. This Resolution shall take effect upon its adoption. ATN/RESO.0133/CC RESO CALLING FOR SPECIAL ELECTION RWC CFD SEAPORT RESO. NO. 15917 REV: 11-13-2020 MI MUFF NO. 506 Page 3 of 6