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09/13/2010 ORIGINAL RESOLUTION NO. 15055 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY DECLARING RESULTS OF SPECIAL ELECTION AND DIRECTING RECORDING OF NOTICE OF SPECIAL TAX LIEN WHEREAS, in proceedings heretofore conducted by this City Council pursuant to the Mello -Roos Community Facilities Act of 1982, Section 53311 et seq. of the California Government Code (the "Law "), on September 13, 2010 this City Council adopted a resolution entitled "Resolution Calling Special Election Within Community Facilities District No. 2010 -1 (One Marina) ", calling for a special election of the qualified electors within the City of Redwood City Community Facilities District No. 2010 -1 (One Marina) (the "District "); and WHEREAS, pursuant to the terms of said resolution, which are by this reference incorporated herein, the special election was held on September 13, 2010, and the City Clerk has on file a Canvass and Statement of Results of Election, a copy of which is attached hereto as Exhibit A; and WHEREAS, this City Council has reviewed the canvass and hereby approves it. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redwood City as follows: Section 1. The issues presented at the special election were the incurring of a bonded indebtedness in the maximum aggregate principal amount of $17,000,000, the levy of a special tax within the District to be levied in accordance with the rate and method of apportionment of special taxes heretofore approved by this City Council by its resolution adopted on September 13, 2010 entitled "Resolution of Formation of City of Redwood City Community Facilities District No. 2010 -1 (One Marina), Authorizing Levy of a Special Tax Within the District, Preliminarily Establishing an Appropriations Limit for the District, Submitting Levy of the Special Tax and the Establishment of the Appropriations Limit to the Qualified Electors of the District and Approving Acquisition Agreement ", and the approval of an appropriations limit of not to exceed $17,000,000 pursuant to said resolution. Section 2. Pursuant to the canvass of the special election on file with the City Clerk, the issues presented at the special election were approved by the qualified electors of the District by more than two - thirds of the votes cast at the special election. Section 3. Pursuant to the voter approval, the District is hereby declared to be fully formed with the authority to incur bonded indebtedness and to levy special taxes as heretofore provided in these proceedings and in the Law. ATTY /RESO /RESO.2047 1 #15055 090110 MUFF # 506