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07/28/2003 election conducted by the City Clerk, which results showed that more than two - thirds of the votes cast were in favor of the Proposition; and WHEREAS, on February 1, 2001, the District issued $5,045,000 Special Tax Bonds, Series 2001A (the "Series A Bonds ") to undertake the financing of the Facilities, as defined below; and WHEREAS, pursuant to the Act, the District now desires to issue bonds in one or more series, in an aggregate principal amount not to exceed $8,490,000, to finance (1) the construction, purchase, modification, expansion, improvement, or rehabilitation of streets, traffic signals, street intersections, and freeway interchanges (including incidental construction, purchase, modification, expansion, improvement, or rehabilitation of sanitary sewers, storm drainage facilities, utilities, parks, landscaping, and other infrastructure improvements and relocations) for the following projects, including all furnishings, equipment, and supplies related thereto (collectively, the "Facilities "): (a) the Marine Parkway intersection at or near Oracle West/Shoreway Road; (b) the Marine Parkway intersection at or near Twin Dolphin Parkway; (c) the Marine Parkway intersection at or near Bridge Parkway; (d) the Redwood Shores Parkway intersection at or near Bridge Parkway; (e) the Ralston Avenue intersection at or near Hiller Street; (f) the northbound U.S. 101 on -ramp at the Marine Parkway /Ralston Avenue interchange; (g) the HOV bypass lanes at the northbound U.S. 101 on -ramp at the Ralston Avenue interchange; and (h) the reconfiguration of the U.S. 101 /Marine Parkway /Ralston Avenue interchange to a partial cloverleaf design; all as such improvements are more fully described in the "Shores Transportation Improvement District (STID) Final Report - Phase II" report dated as of April 10, 1998 FATTY /RESO /RES0. 1407 14543 071403 2