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2/28/00 O R I G I N A L RESOLUTION NO. 13839 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPOINTING CONSULTANTS IN CONNECTION WITH THE FORMATION OF A COMMUNITY FACILITIES DISTRICT AND THE ISSUANCE OF BONDS THEREBY, AND AUTHORIZING THE DIRECTOR OF FINANCE TO ACCEPT DEPOSITS, AND APPROVING A DEPOSIT/REIMBURSEMENT AGREEMENT WHEREAS, in connection with the installation of public improvements for the Pacific Shores Center (the "Project'), the City Council of the City of Redwood City (the "Council') desires to undertake proceedings relating to the formation of a community facilities district (the "CFD ") pursuant to the terms and provisions of the Mello -Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California (the "Act'); and WHEREAS, the Council anticipates that in order to finance the Project, the CFD will issue bonds (the "Bonds ") to be secured by a special tax levied on property within the CFD; and WHEREAS, the Council desires to appoint William Euphrat Municipal Finance, Inc., San Francisco, California, as financial advisor for the public offering of the Bonds, and to draft the special tax formula for the CFD; and WHEREAS, the Council desires to appoint Stone & Youngberg LLC (the "Underwriter "), San Francisco, California, as the underwriter for the public offering of the Bonds, subject to a determination in accordance with Government Code Section 53360.4 that a negotiated sale of the Bonds to the Underwriter in accordance with the terns of a bond purchase agreement to be approved by this Council at a later date will result in a lower overall cost to the CFD than a public sale; and WHEREAS, the Council desires to appoint Nossaman, Guthner, Knox & Elliott, LLP, Irvine, California, as bond counsel for the public offering of the Bonds; and WHEREAS, the Council desires to appoint Quint & Thimmig LLP, San Francisco, California, as disclosure counsel for the public offering of the Bonds; and WHEREAS, it is expected that the major property owner within the proposed CFD (the "Owner ") will advance funds (the "Deposits ") as necessary for the City to consider and process the request to form the CFD and issue the Bonds; and WHEREAS, the form of a Deposit/Reimbursement Agreement (the "Deposit Agreement') is attached hereto as Exhibit A, and the Council now desires to authorize the Director of Finance to execute and deliver the Deposit Agreement and to accept the Deposits and to expend the same as contemplated by the Deposit Agreement. 88721 2.DOC