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07/28/2003 and supplemented in the "Shores Transportation Improvement District (STID) Supplement to Final Report" supplement dated as of June 10, 1998 prepared by the engineering firm of Brian Kangas Foulk, and (2) incidental expenses to be incurred, including (a) the cost of engineering, planning and designing the Facilities; and (b) all costs associated with the creation of the District, the issuance of the bonds, the determination of the amount of special taxes to be levied, costs otherwise incurred in order to carry out the authorized purposes of the District and administering the District (collectively, the "Incidental Expenses "); and WHEREAS, the Council, acting as the legislative body of the District, has determined that it is in the best interests of the District that the District issue at this time a series of bonds to be designated "Redwood Shores Community Facilities District No. 99 -1 (Shores Transportation Improvement Project) of the City of Redwood City Special Tax Bonds, Series 200313" (the "Bonds ") for the purpose of financing a portion of the Facilities and Incidental Expenses; and WHEREAS, prior to the issuance of the Bonds the Council, acting as the legislative body of the District, desires to incur certain capital expenditures (the "Expenditures ") with respect to the Facilities from available moneys of the City of Redwood City (the "City); and WHEREAS, the Council, acting as the legislative body of the District, has determined that those moneys to be advanced on and after the date hereof to pay the Expenditures are available only for a temporary period and it is necessary to reimburse the City for the Expenditures from the proceeds of the Bonds; and FATTY /RESO /RESO.1407 14543 071403 3