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<br /> JES~djk 05/30/91 (031/7) <br /> o RIG I N A L 8/12/91 <br /> ORDINANCE NO. 2042 <br /> --------- <br /> ORDINANCE APPROVING AMENDED RATE SCHEDULE FOR <br /> FACILITIES CHARGES ESTABLISHED PURSUANT TO DEVELOPMENT <br /> AGREEMENT RELATING TO REDWOOD CITY GENERAL IMPROVEMENT <br /> DISTRICT NO. 1-64 <br /> (REDWOOD SHORES PROPERTIES) <br /> WHEREAS, pursuant to Ordinance No. 1859, adopted May 24, <br />1982 this Council approved a development agreement in accordance <br />with the provisions with Government Code Sections 65864-65869.5, <br />by and between the City of Redwood City, a municipal corporation <br />of the State of California, for itself and for and on behalf of <br />Redwood City General Improvement District No. 1-64 and Redwood <br />Shores, Inc. , a California corporation, (the interests of which <br />were subsequently assigned to Redwood Shores Properties) which <br />agreement was dated June 16, 1982 (the "Development Agreement"); <br />and <br /> WHEREAS, pursuant to paragraph 6 (a) of the Development <br />Agreement a facilities charge was established and imposed upon <br />the owners of real property described in the Development <br />Agreement, which charge has from time to time been revised in <br />accordance with the procedures established by the Development <br />Agreement; and <br /> WHEREAS, paragraph 6 (c) of the Development Agreement <br />provides that the rate schedule for the facilities charge may not <br />be increased by the parties to the Agreement more than 5% in any <br />given quarter over the amount of the previous quarter unless the <br />proposed increase is approved by this Council after public <br />hearing; and <br />- .. <br />