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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-132-86 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON APPROVING THE ISSUANCE BY <br />THE REDEVELOPMENT AGENCY FOR THE CITY OF <br />ITS COOLEY RANCH REDEVELOPMENT PROJECT <br />NO. 4 1986 TAX ALLOCATION BONDS AND A <br />FORM OF ESCROW AGREEMENT AND MAKING <br />CERTAIN DETERMINATIONS RELATING THERETO. <br />WHEREAS, the Redevelopment Agency for the City of <br />Colton (the "Agency") is a redevelopment agency duly created, <br />established and authorized to transact business and exercise its <br />powers, all under and pursuant to the Community Redevelopment <br />Law, being Section 33000 and following of the Health and Safety <br />Code of the State of California, and the powers of the Agency <br />include the power to issue bonds for any of its corporate pur- <br />poses; and <br />WHEREAS, a redevelopment plan, known as the Cooley <br />Ranch Redevelopment Project No. 4, has been adopted and approved <br />by Ordinance No. 1478 of the City, which was adopted on July 29, <br />1917 and amended on January 16, 1979 with the enactment of <br />Ordinance No. 1559, on December 18, 1979 with the enactment of <br />Ordinance No. 1574 and on June 3, 1986 with the enactment of <br />Ordinance No. 0-8-86; and <br />WHEREAS, the Agency has adopted its resolution <br />entitled, "Resolution of the Redevelopment Agency for the City <br />of Colton, California Authorizing the Issuance of $20,000,000 <br />Principal Amount of 1986 Tax Allocation Bonds of Said Agency to <br />Finance a Portion of the Cost of a Redevelopment Project Known <br />as the Cooley Ranch Redevelopment Project No. 4"; and <br />WHEREAS, under and pursuant to the above resolution, <br />the Agency has authorized the issuance of $20,000,000 Cooley <br />