Before the Placer County EIFD Public Financing Authority No. 1 In the matter of Resolution No. 25-05 forming the Placer County Enhanced Infrastructure Financing District No. 1 (Sunset Area/Placer Ranch) and the project areas therein and adopting the Infrastructure Financing Plan The following Resolution was duly passed by the Placer County EIFD Public Financing Authority No. 1 at a regular meeting held July 15, 2025, by the following vote: Ayes: Gore, Garcia, Adamec, Demattei. Noes: NONE. Absent: Landon. WHEREAS, the Board of Supervisors ("Board of Supervisors") of the County of Placer ("County") is authorized to initiate the process to establish an enhanced infrastructure financing district (including project areas therein) and approve an infrastructure financing plan allocating tax revenues to such enhanced infrastructure financing district pursuant to Chapter 2.99 of Part 1 of Division 2 of Title 5 of the California Government Code (commencing with section 53398.50) ("EIFD Law"); and WHEREAS, the California Legislature (see California Government Code Section 53398.74) has determined that the allocation and payment to an enhanced infrastructure financing district of the portion of property tax revenues for the purpose of paying principal of, or interest on, loans, advances, or indebtedness incurred by the district, shall not be deemed the receipt by a district of proceeds of taxes levied by or on behalf of the district within the meaning or for the purposes of Article XIII B of the California Constitution, nor shall that portion of taxes be deemed receipt of proceeds of taxes by, or an appropriation subject to limitation of, any other public body within the meaning or for purposes of Article XIII B of the California Constitution or any statutory provision enacted in implementation of Article XIII B of the California Constitution; and WHEREAS, pursuant to the EIFD Law, the Board of Supervisors adopted Resolution No. 2025-019 on January 21, 2025, pursuant to which the Board of Supervisors, among other things, (i) declared that the Board of Supervisors proposed and intended to cause the establishment of an enhanced infrastructure district to be known as the "Placer County Enhanced Infrastructure Financing District No. 1 (Sunset Area/Placer Ranch)" ("Sunset Area/Placer Ranch EIFD") over the boundaries shown on the map of the Sunset Area/Placer Ranch EIFD on file with the Clerk of the Board of Supervisors (the "Clerk") to finance public capital facilities and projects of communitywide significance as described in Exhibit 1 thereto (the "Facilities"), (ii) declared that the Board of Supervisors proposed and intended that the Sunset Area/Placer Ranch EIFD would include project areas (each, "Project Area"; collectively, "Project Areas"), which Project Areas shall be referred to as the "Project Area __ of the Placer County Enhanced Infrastructure Financing District No. 1 (Sunset Area / Placer Ranch)", and (iii) declared that, pursuant to the EIFD Law, if the Sunset Area/Placer Ranch EIFD is approved by the EIFD Public Financing Authority (as defined below) in accordance with the EIFD Law, and if the IFP (as defined below) is approved by resolution of the Board of Supervisors pursuant to Government Code Section 53398.68, in each case after any public hearings required by the EIFD Law, the incremental property tax revenue that is allocated by the County to the proposed Sunset Area/Placer Ranch EIFD may be used to finance the Facilities and other authorized costs and to pay debt service on bonds and other debt of the Sunset Area/Placer Ranch EIFD; and WHEREAS, pursuant to Resolution No. 2025-020, which was passed by the Board of Supervisors on January 21, 2025, the Board of Supervisors established the Placer County EIFD Public Financing Authority No. 1 ("EIFD Public Financing Authority"), as the governing board of the proposed Sunset Area/Placer Ranch EIFD, to be responsible for directing the preparation and implementation of the infrastructure financing plan for the Sunset Area/Placer Ranch EIFD ("IFP"); and WHEREAS, pursuant to Resolution No. 25-02, which was passed by the EIFD Public Financing Authority on February 5, 2025, the EIFD Public Financing Authority directed the Executive Director of the EIFD Public Financing Authority, to work with the necessary County staff and professionals to prepare a draft of the IFP and make such IFP available to interested parties as required by the EIFD Law; and WHEREAS, on April 22, 2025, the EIFD Public Financing Authority held a public meeting at which the draft IFP was presented, which public meeting was properly noticed and held in accordance with all applicable law; and WHEREAS, on May 29, 2025, the EIFD Public Financing Authority held its first public hearing on the draft IFP and considered any written and oral comments, after which the PFA adopted a resolution modifying the draft IFP; and WHEREAS, after the Board of Supervisors held a noticed public hearing on July 8, 2025, the Board of Supervisors approved the IFP on July 8, 2025, pursuant to Resolution No. 2025-153, and such resolution is on file with the Secretary of the EIFD Public Financing Authority; and WHEREAS, on the date hereof, the EIFD Public Financing Authority held its second public hearing on the draft IFP, which public hearing was properly noticed and held in accordance with all applicable law; and WHEREAS, the IFP is included as Exhibit 1 to this resolution, which Exhibit 1 is incorporated herein in its entirety by this reference; and WHEREAS, among other things, the IFP provides that the proposed EIFD will consist of eight Project Areas and the IFP further provides for changes to the boundaries of one or more Project Areas in the future in order to conform such Project Areas to the final development parcels established by the recordation of one or more final subdivision maps for the property so that the California State Board of Equalization can assign tax rate areas to all such development parcels within the Project Areas; and WHEREAS, the EIFD Public Financing Authority hereby finds and determines that, based on all written and oral protests received by the EIFD Public Financing Authority before the close of its second public hearing on the draft IFP, less than 25 percent of the combined number of landowners and residents in the area of the proposed EIFD who are at least 18 years of age have filed a protest and, accordingly, neither the termination of the proceedings related to the Sunset Area/Placer Ranch EIFD nor an election related to the Sunset Area/Placer Ranch EIFD is required; and WHEREAS, the EIFD Public Financing Authority hereby further finds and determines that all prior proceedings taken by EIFD Public Financing Authority and the County with respect to the proposed establishment of the Sunset Area/Placer Ranch EIFD and the Project Areas and adoption of the IFP are valid and in conformity with applicable law; and WHEREAS, on the basis of all of the foregoing, the EIFD Public Financing Authority has determined at this time to form the Sunset Area/Placer Ranch EIFD and the Project Areas and adopt the IFP; and WHEREAS, in accordance with Section 53398.57 of the EIFD Law, the EIFD Public Financing Authority and/or the County may file an action in the Placer County Superior Court to determine the validity of the creation of the Sunset Area/Placer Ranch EIFD and the Project Areas, the adoption of the IFP, including the division of taxes thereunder, and related matters; and WHEREAS, all conditions, things and acts required by law to exist, to happen or to be performed precedent to and as a condition of the adoption of the IFP, the formation of the proposed EIFD and the Project Areas, and the allocation by the County of incremental property tax revenue from within the boundary of the Sunset Area/Placer Ranch EIFD (including the Project Areas) have existed, happened and been performed in the time, form and manner required by law. now, therefore, be it RESOLVED, By the Placer County EIFD Public Financing Authority No. 1 as follows. 1. The EIFD Public Financing Authority hereby adopts the IFP; a copy of the IFP was sent to each person or entity required by the EIFD Law. The EIFD Public Financing Authority hereby authorizes the Executive Director (or designee) to make such changes to the IFP in the form attached hereto as Exhibit 1 as the Executive Director (or designee) determines are consistent with and furthers the purposes of the Sunset Area/Placer Ranch EIFD and the IFP and does not materially increase the County's liability under the IFP or otherwise change the core purposes of the Sunset Area/Placer Ranch EIFD. 2. The EIFD Public Financing Authority hereby forms the Sunset Area/Placer Ranch EIFD and the Project Areas; the boundaries of the Sunset Area/Placer Ranch EIFD and the Project Areas shall be as set forth in the maps and legal descriptions in the IFP. 3. The Executive Director and General Counsel to the EIFD Public Financing Authority, in consultation with Jones Hall LLP, as bond counsel, are hereby authorized and directed to initiate a judicial validation action with respect to the creation of the Sunset Area/Placer Ranch EIFD and the Project Areas, the adoption of the IFP, the allocation by the County of incremental property tax revenue from within the boundary of the Sunset Area/Placer Ranch EIFD for the purpose of financing the activities of the Sunset Area/Placer Ranch EIFD, and all the proceedings relating thereto, and such other matters as the General Counsel to the EIFD Public Financing Authority and bond counsel deem appropriate for the EIFD Public Financing Authority to carry out the purposes of the IFP, pursuant to Sections 53398.57 of the EIFD Law and Section 860 et seq. of Code of Civil Procedure. 4. The EIFD Public Financing Authority's adoption of this resolution is exempt from the requirements of the California Environmental Quality Act ("CEQA") pursuant to Section 15061(b)(3) of the CEQA Guidelines because it is not a project; future actions, such as the approval of infrastructure improvements using funding from the Sunset Area/Placer Ranch EIFD, will be subject to environmental review in accordance with CEQA. 5. Within 15 days after the passage of this resolution, the Secretary shall cause this resolution (or a summary thereof) to be published at least once, with the names of those members of the EIFD Public Financing Authority voting for and against the resolution, in a newspaper of general circulation published and circulated in the County. 6. This resolution shall be subject to referendum as set forth in Section 53398.66(g) of the EIFD Law in accordance with the referendum procedures applicable to counties set forth in Article 2 of Chapter 2 of Division 9 of the California Elections Code provided that (1) all references in such Article to ordinances shall be deemed to refer to this resolution, (2) the relevant legislative body is the EIFD Public Financing Authority, (3) the Secretary of the EIFD Public Financing Authority shall constitute the elections official for the EIFD Public Financing Authority and (4) the relevant voters shall be the voters registered in the boundaries of the EIFD; if no such referendum petition is presented within the period of 30 days, then upon the expiration of such period, or if the resolution has been assented to by a majority of the voters voting on the proposition upon referendum, then upon such proposition having been so assented to, this resolution shall take full and final effect. 7. The Secretary shall certify to the adoption of this resolution A certified copy of the full text of the resolution, including Exhibit 1 – Infrastructure Financing Plan, will be available for viewing in the County Executive Office during regular business hours at 175 Fulweiler Avenue, Auburn, California 95603, and is posted on the following website: https://www.placer.ca.gov/9870/Sunset-Area-Enhanced-Infrastructure-Fina