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Don Warren stated that the financing of the bonds is almost exclusively funded by the commercial property owners in Redwood Shores who voted to tax themselves in order to obtain the improvements. There is no encumbrance on the residents of Redwood Shores. Another major benefit to Redwood City is that the traffic that now flows out of the Island Park section of Belmont that impacts the intersection of Marine Parkway and Oracle Parkway will be dramatically improved. He complimented the City staff for having kept the project on track during these difficult times. Recommendation: M/S Jordan /Ruskin acting as the legislative body of the Redwood Shores Community Facilities District No. 99 -1, adopt a resolution approving the sale of special tax bonds of the district in an amount sufficient to fund Phase II construction for the Shores Transportation Improvement Project and associated financing costs. RESOLUTION 14543 OF THE COUNCIL OF THE CITY OF REDWOOD CITY, ACTING AS THE LEGISLATIVE BODY OF REDWOOD SHORES COMMUNITY FACILITIES DISTRICT NO. 99 -1 (SHORES TRANSPORTATION IMPROVEMENT PROJECT) OF THE CITY OF REDWOOD CITY, STATING ITS INTENTION TO ISSUE BONDS AND AUTHORIZING THE ISSUANCE OF ITS SPECIAL TAX BONDS, SERIES 2003B, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $8,490,000 AND APPROVING CERTAIN DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH The motion passed by a unanimous roll call vote. B. Redwood City Recycled Water Project (802) Mayor Claire explained the process for addressing the Council which includes a three minute time allowance and ceding of up to six additional minutes to an individual speaker. He stated that applause or shouting from the audience will not be allowed. He stated that if a note needs to be transmitted to a Council Member, that it should be given to the Deputy City Clerk or Volunteer. City Attorney Yamamoto left the dais, introducing Special Legal Counsel Ray McDevitt to serve in his place. Public Works Services Director Ingram explained the background and summarized the problem: more demand than supply exists now and into the future; 100% reliant on one, limited supply; our available supply is at risk now; and aggressive water conservation alone will not solve the problem. Three individuals made remarks and one videotaped presentation was shown: REGULAR CITY COUNCIL MEETING MINUTES Y 28, 2003 PAGE 7 MINUTES Book No. 60 Page No. 07