Res20 15918 - Laserfiche WebLink

Browse Search

11/23/2020 EXHIBIT "A" CANVASS AND STATEMENT OF RESULT OF ELECTION CITY OF REDWOOD CITY Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza) I hereby certify that on November 23, 2020, 1 canvassed the returns of the election held on November 23, 2020, in the City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza) (the "CFD"), and the total number of ballots cast in the CFD and the total number of votes cast for and against the measure are as follows and the totals as shown for and against the measure are full, true and correct: City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza) Special Tax Election, November 23, 2020 Qualified Landowner Votes Votes Cast 77 YES NO BALLOT MEASURE: Shall the following measure be adopted: authorizing the City of Redwood City ("City") to (i) levy special taxes solely on lands within City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza) ("CFD") in accordance with the rate and method contained in the City Council resolution establishing the CFD ("Formation Resolution"), to pay for the public facilities and public services specified in the Formation Resolution and to pay the costs of the City in administering the CFD, which services special taxes are expected to be levied in perpetuity and at the estimated rate of $0.15 per taxable building square foot starting in fiscal year 2021-22 for Seaport Centre wet utility maintenance (assuming an annual budget of $150,000) and at the estimated rate of $0.085 per taxable building square foot starting in fiscal year 2023-24 for levee maintenance (assuming an annual budget of $100,000), in each case with annual escalation thereafter, and which facilities special taxes are expected to be levied over a period of 16 years and at a variable rate per taxable building square foot (estimated to be $1.01 per taxable building square foot starting in fiscal year 2023-24) that is expected to raise an amount sufficient to pay the purchase price of levee improvements in annual installments, such purchase price, estimated to be $11,500,000, to be fully amortized over 15 years, plus interest at a rate that changes annually based on the Wall Street Journal prime rate as published each June 1, plus 200 basis points; (ii) establish an annual ATTY/RESO.0134/CC RESO DECLARING RESULTS OF SPECIAL ELECTIONS IN RWC CFD SEAPORT REV: 11-13-2020 MI Page 3 of 4 RESO. NO. 15918 MUFF NO. 506