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7. PUBLIC HEARINGS <br />A. 2003/2004 Budget Ordinance Introduction <br />Staff contact: Brian Ponty, Director of Finance and Financial Planning <br />780 -7072 boontv(cbredwoodcitv.ora <br />Recommendation: <br />Continue the public hearing and introduction of the ordinance on this topic to the <br />meeting of August 11, 2003. <br />8. STAFF REPORTS <br />A. Approval of a resolution authorizing the issuance of special tax bonds for <br />the Ralston Avenue /U.S. 101 freeway interchange reconfiguration project <br />(Phase II of the Shores Transportation Improvement Project) in the aggregate <br />amount not to exceed $8,490,000.00 and approving certain financing <br />documents in substantially final form and taking certain actions in <br />connection therewith. <br />Staff contact: Brian Ponty, Director of Finance and Financial Planning <br />780 -7072 boontv(a)redwoodcitv.oro <br />Recommendation: <br />That the City Council, acting as the legislative body of the Redwood Shores <br />Community Facilities District No. 99 -1, adopt a resolution approving the sale of <br />special tax bonds of the district in an amount sufficient to fund Phase II <br />construction for the Shores Transportation Improvement Project and associated <br />financing costs. <br />RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY, ACTING AS THE <br />LEGISLATIVE BODY OF REDWOOD SHORES COMMUNITY FACILITIES DISTRICT <br />NO. 99 -1 (SHORES TRANSPORTATION IMPROVEMENT PROJECT) OF THE CITY OF <br />REDWOOD CITY, STATING ITS INTENTION TO ISSUE BONDS AND AUTHORIZING <br />THE ISSUANCE OF ITS SPECIAL TAX BONDS, SERIES 2003B, IN AN AGGREGATE <br />PRINCIPAL AMOUNT NOT TO EXCEED $8,490,000 AND APPROVING CERTAIN <br />DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION <br />THEREWITH <br />REGULAR CITY COUNCIL MEETING JULY 28, 2003 <br />AGENDA PAGE6 <br />