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0 R I G I N A L 10/11/99 <br /> <br /> RESOLUTION NO. 13750 <br /> <br /> RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY, <br /> ACT1NG AS THE LEGISLATIVE BODY OF REDWOOD SHORES <br /> COMMUNITY FACILITIES DISTRICT NO. 99-1 (SHORES TRANSPORTATION <br /> IMPROVEMENT PROJECT) OF THE CITY OF REDWOOD CITY, APPOINTING <br /> DISCLOSURE COUNSEL 1N CONNECTION WITH THE ISSUANCE OF BONDS <br /> <br /> WHEREAS, the Council of the City of Redwood City (the "Council"), acting as the <br />legislative body of Redwood Shores Community Facilities District No. 99-1 (Shores <br />Transportation Improvement Project) of the City of Redwood City (the "District"), has undertaken <br />proceedings and declared the necessity to issue bonds on behalf of the District pursuant to the <br />terms and provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being <br />Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California (the <br />"Act"); and <br /> <br /> WHEREAS, pursuant to Resolutions Nos. 13610 and 13611 adopted by the Council on <br />April 26, a proposition for (i)the levy of special taxes pursuant to the rate and method of <br />apportionment of the special tax set forth in Resolution No. 13611, (ii) the issuance of bonds in a <br />principal amount not to exceed $13,535,000 (the "Bonds"), and (iii) the establishment of an <br />appropriations limit for the District was submitted to the qualified electors within the District, and <br />was approved at an election held on July 30, 1999; and <br /> <br /> WHEREAS, based upon Resolutions Nos. 13610 and 13611 and the election, the District is <br />now authorized to issue the Bonds in one or more series, pursuant to the Act, in an aggregate <br />principal amount not to exceed $13,535,000; and <br /> <br /> WHEREAS, the Council desires to appoint Jones Hall, A Professional Law Corporation <br />(the "Disclosure Counsel"), San Francisco, Califomia, as the disclosure counsel for the public <br />offering of the initial series of the Bonds and has determined in accordance with Government Code <br />Section 53360.4 that a negotiated sale of the initial series of the Bonds to the Underwriter in <br />accordance with the terms of a bond purchase agreement to be approved by this Council at a later <br />date will result in a lower overall cost to the District than a public sale; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY, A MUNICIPAL CORPORATION OF THE STATE OF CALIFORNIA, <br />ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF THE DISTRiCT, AS <br />FOLLOWS: <br /> <br /> 1. The above recitals are true and correct. <br /> <br /> 2. The Council hereby appoints Jones Hall, A Professional Law Corporation (the <br />"Disclosure Counsel"), San Francisco, California, as the disclosure counsel for the initial series of <br />the Bonds. The form of Disclosure Counsel Agreement presented at this meeting is hereby approved <br />and the City Manager of the City, is hereby authorized and directed to execute such agreement, with <br />such additions thereto and changes therein as such signatory may approve, such approval to be <br />conclusively evidenced by the execution and delivery of such agreement. <br /> <br /> -1- <br /> <br /> <br />