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12/21/2020 RESOLUTION NO. 15928 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY DECLARING ITS INTENTION TO DISSOLVE SEAPORT CENTRE MAINTENANCE DISTRICT AND PROVIDING FOR OTHER RELATED MATTERS, INCLUDING SETTING THE DATE OF JANUARY 11, 2021 FOR A PUBLIC HEARING WHEREAS, the City Council (the "Council") of the City of Redwood City undertook special assessment proceedings (the "Proceedings") to form a maintenance district known as the Seaport Centre Maintenance District (the "Maintenance District"), pursuant to Ordinance No. 1895, adopted by the Council on April 16, 1984, the applicable provisions of Chapter 26, Part 3, Division 7 of the Streets and Highways Code of the State of California (the "1911 Improvement Act"), Resolution No. 9815 adopted on March 4, 1985, entitled "A Resolution of Intention to Form the Seaport Centre Maintenance District and to Provide for the Use of the Alternative Method for the Levy of Benefit Assessments", and Resolution No. 9859 adopted on April 22, 1985, entitled "A Resolution Ordering the Formation of Seaport Centre Maintenance District, and Ordering that the Alternative Method for the Levy of Benefit Assessment be Made to Said Maintenance District"; and WHEREAS, pursuant to the petitions of the owners of property within the Maintenance District (the "Property Owners"), the City (i) established City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza) (the "CFD") under the City's Special Tax Financing Law (Chapter 32, Article XIII of the Redwood City Municipal Code) (the "CFD Law") to finance costs of (A) acquisition, construction, improvement and replacement of certain levee and flood control improvements within the proposed community facilities district and (B) operation and maintenance of certain public improvements and appurtenant facilities, including those maintained by the Maintenance District and (ii) wishes to initiate proceedings to dissolve the Maintenance District; and WHEREAS, Section 5848 of the 1911 Improvement Act provides that Council may dissolve the Maintenance District by (i) adopting a resolution of intention to dissolve the Maintenance District and fixing a time for a noticed public hearing upon such dissolution, (ii) holding such public hearing and passing upon any protests and objections and (iii) adopting a resolution ordering the dissolution of the Maintenance District; and WHEREAS, the Property Owners have asked the Council to dissolve the Maintenance District as of June 30, 2021 (or such later date determined by the City Council in order to collect any delinquent assessment installments), following formation of the CFD and funding of the authorized services by the Maintenance District for fiscal year 2020-21, both of which have occurred as of the date hereof; and WHEREAS, the Maintenance District has funded certain maintenance reserves (the "Maintenance District Reserves") held by the City, and the Property Owners have asked the City, after dissolution of the Maintenance District, to deposit any remaining funds in the Maintenance District Reserves into one or more maintenance reserve ATTY/RESO.0145/CC RESO DECLARING ITS INTENTION TO DISSOLVE THE SEAPORT CENTRE MAINT DISTRICT RESO. NO. 15928 REV: 12-09-2020 EI MUFF NO. 507 Page 1 of 2