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8.A. - Page 43 Investment of Moneys Except as otherwise provided in the Fiscal Agent Agreement, all moneys in any of the funds or accounts established pursuant to the Fiscal Agent Agreement will be invested by the Fiscal Agent solely uz Permitted Investments, as directed by the City. See Appendix C– "Summary of the Fisc11 Agent Agreement" for a definition of "Permitted Investments" and for additional provisions regarding the investment of funds held under the Fiscal Agent Agreement. No Parity Bonds The City has covenanted in the Fiscal Agent Agreement not to issue any additional obligations payable from Special Taxes on a parity with the Bonds. However, nothing in the Fiscal Agent Agreement prohibits the City from issuing bonds or otherwise incurrin�; debt secured by a pledge of any of the Special Tax Revenues subordinate to the pledge thereof under the Fiscal Agent Agreement. THE DISTRICT Location and Description of the District The District is a community facilities district established by the City Council of the City pursuant to the Act in April of 2000 to finance certain public facilities (referred to i�1 this Official Statement as the °Improvements"), includuzg improvements and construction of ldditions to Seaport Boulevard, and improvements to the sewer system and storm drains serving the property in the District (including costs of right-of-way acquisitions, environmental, engineering and otller incidental or related costs), all of which have been completed. The District includes 11 separate San Mateo County Assessor's parcels subject to the levy of Special Taxes (referred to in this Official Stltement as the "Taxlble Plrcels") located within the Pacific Shores Center, a 106-acre waterfront corporate campus located at the northeast terminus of Seaport Boulevard i�z the City. See "THE DISTRICT—Development in the District." U.S. Highway 101 is approximately one mile west of the exterior boundary of the District. State Highway 84 (Woodside Road) begins on the west side of U.S. Highway 101, across the freeway from the terminus of Seaport Boulevard. It courses in an east/west direction, and provides lccess westward from U.S. Highway 101 to Interstate 280. History of the District Pursuant to the Act, the City Council of the City, acting in the capacity as the legislative body of the District, adopted Resolution No. 13849 (the "Resolution of Intention") on March 13, 2000, stating its intention to establish the District and to levy the Special Tax within the District. Attached as Appendix G is the boundary map of the District. On April 24, 2000, the City Council, acting as the legislative body of the District, adopted resolutions forming the District and authorizing a special election with respect to the incurrence of indebtedness in a principal amount of $21,000,000 and the levy of the Special Tax. Subsequently, the then-owner of all of the land in the District, as the sole qualified elector for the District, lpproved the ballot propositions. On May 9, 2000, the City recorded, in the Official Records of the County Recorder for the County of San Mateo, a Notice of Special Tax Lien as required by Section 53328.3 of the California Government Code. -19-