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09/13/2010 ORIGINAL RESOLUTION NO. 15053 RESOLUTION DETERMINING THE NECESSITY TO INCUR BONDED INDEBTEDNESS WITHIN CITY OF REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2010 -1 (ONE MARINA) AND SUBMITTING PROPOSITION TO THE QUALIFIED ELECTORS OF THE DISTRICT WHEREAS, on August 9, 2010, this City Council of the City of Redwood City (the "City ") adopted a resolution entitled "A Resolution of the City Council of the City of Redwood City Declaring Its Intention to Establish a Community Facilities District and to Authorize the Levy of Special Taxes Therein (One Marina)" (the "Resolution of Intention ") stating its intention to form the City of Redwood City Community Facilities District No. 2010 -1 (One Marina) (the "District "), pursuant to the Mello -Roos Community Facilities Act of 1982, California Government Code Section 53311 et seq. (the "Law "), to fund costs of certain public improvements (the "Facilities "), as described therein; and WHEREAS, on August 9, 2010, this entitled "A Resolution of the City Council of Intention to Incur Bonded Indebtedness of Community Facilities District No. 2010 -1 (One Incur Indebtedness ") stating its intention to boundaries of the District for the purpose of Facilities; and City Council also adopted a resolution the City of Redwood City Declaring Its the Proposed City of Redwood City Marina)" (the "Resolution of Intention to incur bonded indebtedness within the financing a portion of the costs of the WHEREAS, on this date, this City Council held the public hearing as required by the Law and the Resolution of Intention relative to the determination to proceed with the formation of the District, the provision by the District of funds to pay costs of the Facilities, and the rate and method of apportionment of the special tax to be levied within the District to pay the principal and interest on the proposed indebtedness and the administrative costs of the City relative to the District; and WHEREAS, at the hearing all persons desiring to be heard on all matters pertaining to the formation of the District, the provision of funds to pay costs of the Facilities, and the levy of the special tax on property within the District, were heard and a full and fair hearing was held; and WHEREAS, subsequent to the hearing, this City Council adopted a resolution entitled "Resolution of Formation of City of Redwood City Community Facilities District No. 2010 -1 (One Marina), Authorizing the Levy of a Special Tax Within the District, Preliminarily Establishing An Appropriations Limit for the District and Submitting Levy of the Special Tax and the Establishment of the Appropriations Limit to the Qualified Electors of the District" (the "Resolution of Formation "); and ATTY /RESO /RESO.2046 1 #15053 090110 MUFF #506