1987 MIN JUN 16 - Laserfiche WebLink

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Moved by Councilwoman Cisneros, seconded by Councilman Rehrer, to ap- prove the Consent Calendar with the deletion of Item Nos. 6 and 12. Unanimous vote. (16)A. Agreements - Loan and Repayment, West Valley Redevelopment Project Area, RESOLUTION NO. R-73-87. City Manager Benest reported that Resolution No. R-73-87 authorizes a $20,000 loan from the City of Colton to the Redevelopment Agency for the City of Colton, which monies are needed to fund certain ad- ministrative expenses for the Agency with respect to the West Valley Redevelopment Project. The Agreement calls for the RDA to repay the loan no later than one year. Mr. Benest concluded Staff recommends the Council approve Resolution No. R-73-87, authorizing the Mayor to execute the Agreement. Moved by Councilman Rehrer, seconded by Councilwoman Garcia, to approve Resolution No. R-73-87. Unanimous vote. RESOLUTION NO. R-73-87 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON AUTHORIZING A LOAN FROM THE CITY OF COLTON TO THE REDEVELOPMENT AGENCY OF THE CITY OF COLTON AND AUTHORIZING THE MAYOR TO EXECUTE THE LOAN AGREEMENT. (16)B. Legal Matters - Garb Oil Lawsuit, allocation of additional funds, in the amount of $2,750, for the City's portion of legal fees. City Manager Benest stated there was a typographical error in the memo- randum dated June 11, 1987, with regard to the additional funds, and the amount should be $2,750, not $2,150. MAYOR AND CITY COUNCIL ITEMS: Boards & Commissions Moved by Councilwoman Cisneros, seconded by Councilman Rios, ratifying Mayor's reappointments of Dr. Renald J. Anelle and Naomi Carpenter to the Colton Library Board. Unanimous vote. PUBLIC HEARINGS: Refunding Bonds Res. No. R-79-87 Mayor Gonzales announced this is the time and place fixed for Public Hearing to consider $23,300,000 City of Colton Single Family Residential Mortgage Revenue Refunding Bonds, GNMA Mortgage -Backed Securities Pro- gram, Series 1987 A. t