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12/21/2020 ORDINANCE NO. 2491 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY LEVYING SPECIAL TAXES WITHIN THE CITY OF REDWOOD CITY COMMUNITY FACILITIES DISTRICT NO. 2020-1 (SEAPORT CENTRE/SEAPORT PLAZA) WHEREAS, under City of Redwood City's (the "City") Special Tax Financing Law (Chapter 32, Article XIII of the Redwood City Municipal Code) (the "CFD Law") which incorporates the Mello -Roos Community Facilities Act of 1982, as amended (the "Act"), this City Council (the "City Council") is authorized to establish a community facilities district and to act as the legislative body for a community facilities district; and WHEREAS, on October 26, 2020, the City Council adopted a resolution entitled "A Resolution of the City Council of the City of Redwood City Declaring its Intention to Establish City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza), and Approving Related Documents and Actions" (the "Resolution of Intention to Establish"), stating its intention to form "City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza)" (the "CFD"), pursuant to the CFD Law; and WHEREAS, on October 26, 2020, the City Council also adopted a resolution entitled "A Resolution of the City Council of the City of Redwood City Declaring its Intention to Incur Bonded Indebtedness and Other Debt Payable from Special Taxes Levied in City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza)" (the "Resolution of Intention to Incur Indebtedness") stating its intention to incur bonded indebtedness and other debt (as defined in the Act) within the boundaries of the CFD for the purpose of financing the costs of acquiring and constructing certain facilities specified in the Resolution of Intention to Establish (the "Facilities"); and WHEREAS, notice was published as required by the CFD Law relative to the intention of the City Council to form the CFD, to levy in the CFD the special taxes described in the Resolution of Formation (the "Special Taxes"), to provide for certain Facilities and certain services described in the Resolution of Formation (the "Services"), and to incur bonded indebtedness and other debt (as defined in the Act) in an amount not to exceed $25,000,000; and WHEREAS, the City Council has held noticed public hearings as required by the CFD Law relative to (i) the determination to proceed with the formation of the CFD, (ii) the rate and method of apportionment of the Special Taxes to be levied within the CFD and (iii) the issuance of not to exceed $25,000,000 of bonded indebtedness and other debt; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of the CFD, the levy of the Special Taxes in the CFD and the incurrence of bonded indebtedness and other debt were heard, substantial evidence was presented and considered by this City Council and a full and fair hearing was held; and WHEREAS, subsequent to the hearing, this City Council adopted resolutions entitled "A Resolution of the City Council of the City of Redwood City Forming City of Redwood Community ATTY/ORD.528/CC ORD LEVYING SPECIAL TAXES WITHIN THE CITY OF RWC CFD SEAPORT ORDINANCE NO. 2491 REV: 11-13-2020 MI MUFF NO. 507 Page 1 of 3