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7/24/00 0RIGINAL CITY COUNCIL OF THE CITY OF REDWOOD CITY RESOLUTION NO. 13959 RESOLUTION AUTHORIZING THE ISSUANCE OF SPECIAL TAX BONDS FOR AND ON BEHALF OF THE CITY OF REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2000 -1 (PACIFIC SHORES PROJECT), APPROVING THE FORM OF AND DIRECTING THE EXECUTION OF A FISCAL AGENT AGREEMENT, APPROVING AND DIRECTING THE EXECUTION OF A FUNDING AND ACQUISITION AGREEMENT, APPROVING THE FORM OF A CONTINUING DISCLOSURE CERTIFICATE - ISSUER, APPROVING THE FORM OF A BOND PURCHASE CONTRACT, APPROVING THE FORM OF PRELIMINARY OFFICIAL STATEMENT, APPROVING SALE OF SUCH BONDS, AND APPROVING OTHER RELATED DOCUMENTS AND ACTIONS WHEREAS, the City Council has conducted proceedings under and pursuant to the Mello -Roos Community Facilities Act of 1982, as amended (the "Act "), to form the City of Redwood City Community Facilities District No. 2000 -1 (Pacific Shores Project), City of Redwood City, County of San Mateo, California (the "District "), to authorize the levy of special taxes upon the land within the District, and to issue bonds in one or more series secured by said special taxes for the purpose of providing moneys for the construction and acquisition of improvements within the District; and WHEREAS, the City Council, as legislative body of the District, authorized the issuance of one or more series of special tax bonds of the City for the District in the maximum principal amount of not to exceed $21,000,000 designated "City of Redwood City Community Facilities District No. 2000 -1 (Pacific Shores Project) Special Tax Bonds, Series 2000A" (the "Bonds "); and WHEREAS, there has been submitted to the City Council a report (the "CFD Report") of William Euphrat Municipal Finance Inc., in compliance with Section 53321.5 of the Act; and WHEREAS, there has been submitted to the City Council a form of Fiscal Agent Agreement (the "Fiscal Agent Agreement') providing for the issuance of the Bonds for the District, and the City Council, as legislative body of the District, with the aid of City staff, has reviewed the Fiscal Agent Agreement and found it to be in proper order, and now desires to approve the Fiscal Agent Agreement and the issuance of the Bonds; and WHEREAS, there has been submitted to the City Council a form of Funding and Acquisition Agreement (the "Acquisition Agreement') between the City and Pacific Shores Development, LLC (the "Developer "), providing for the use of proceeds of the Bonds for the acquisition and funding of certain capital improvements within the District, and the City Council, Redwood Resolution of Issuance.DOC 1