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12/03/2012 <br />ORIGINAL <br />RESOLUTION NO. 15237 <br />RESOLUTION AUTHORIZING THE ISSUANCE OF SPECIAL TAX <br />BONDS FOR AND ON BEHALF OF COMMUNITY FACILITIES <br />DISTRICT NO. 99-1 (SHORES TRANSPORTATION IMPROVEMENT <br />PROJECT) OF THE CITY OF REDWOOD CITY, APPROVING THE <br />FORM OF AND DIRECTING THE EXECUTION OF A FISCAL AGENT <br />AGREEMENT, ESCROW INSTRUCTIONS, A CONTINUING <br />DISCLOSURE AGREEMENT AND A BOND PURCHASE AGREEMENT, <br />APPROVING THE FORM OF AN OFFICIAL STATEMENT, APPROVING <br />SALE OF BONDS, AND APPROVING OTHER RELATED DOCUMENTS <br />AND ACTIONS <br />WHEREAS, the City Council of the City of Redwood City (the "City") has <br />previously conducted proceedings under and pursuant to the Mello -Roos Community <br />Facilities Act of 1982, as amended (the "Act"), to form Community Facilities District No. <br />99-1 (Shores Transportation Improvement Project) of the City of Redwood City (the <br />"District"), to authorize the levy of special taxes upon the land within the District, and to <br />issue bonds secured by said special taxes for the purpose of providing moneys for the <br />construction and acquisition of improvements within or in the vicinity of the District; and <br />WHEREAS, the District has previously issued its Community Facilities District <br />No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City <br />Special Tax Bonds, Series 2001A, in the original principal amount of $5,045,000, of <br />which $3,640,000 remains outstanding (the "2001A Bonds") and its Community <br />Facilities District No. 99-1 (Shores Transportation Improvement Project) of the City of <br />Redwood City Special Tax Bonds, Series 2003B, in the original principal amount of <br />$7,505,000, of which $6,675,000 remains outstanding (the "200313 Bonds," and <br />together with the 2001A Bonds, the "Prior Bonds"); and <br />WHEREAS, the City has determined that it would be advantageous to refund the <br />outstanding Prior Bonds; and <br />WHEREAS, in order to provide funds to refund the outstanding Prior Bonds, the <br />City, on behalf of the District, desires to provide for the issuance of City of Redwood <br />City Community Facilities District No. 99-1 (Shores Transportation Improvement <br />Project) of the City of Redwood City, Special Tax Refunding Bonds, Series 2013 (the <br />"Bonds"); and <br />WHEREAS, there has been submitted to the City Council a form of Fiscal Agent <br />Agreement (the "Fiscal Agent Agreement") between the City and U.S. Bank National <br />ATTY/RESO.2809/ ISSUANCE OF SPECIAL TAX BOND FOR AND RESO. # 15237 <br />ON BEHALF OF COMMUNITY FACILITIES DISTRICT NO. 99-1 MUFF # 505 <br />REV: 11-28-12 PT <br />1 <br />