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01/11/2021 RESOLUTION NO. 15931 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY DISSOLVING SEAPORT CENTRE MAINTENANCE DISTRICT AND PROVIDING FOR OTHER RELATED MATTERS WHEREAS, the City Council (the "City 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 has formed the 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") which incorporates the Mello -Roos Community Facilities Act of 1982, as amended (the "Act"), for the purpose of financing the costs of (i) acquisition, construction, improvement and replacement of certain levee and flood control improvements within the proposed community facilities district and (ii) operation and maintenance of certain public improvements and appurtenant facilities, including those maintained by the Maintenance District; and WHEREAS, the Property Owners have also petitioned the City 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; and WHEREAS, Section 5848 of the 1911 Improvement Act provides that the City 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, on December 21, 2020, the City Council adopted a resolution entitled "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" (the "Resolution of Intention"), (i) stating its intention to dissolve the Maintenance District, (ii) calling for a public hearing and (iii) declaring its intention to deposit any remaining funds in certain maintenance reserves (the "Maintenance District Reserves") held by the City on June 30, 2021, into one or more maintenance reserve funds to be established and held by the City as a result of forming the CFD to provide for the services to be funded by the CFD; and WHEREAS, the City Clerk has caused a notice of the public hearing to be published and posted in accordance with the Resolution of Intention and Section 5848 of the 1911 Improvement Act; and ATTY/RESO.0152/CC RESO DISSOLVING SEAPORT CENTRE MAINTENANCE DISTRICT RESO. NO. 15931 REV: 12-23-2020 MI MUFF NO. 507 Page 1 of 2